DUTY FREE RETAILING MARKET ANALYSIS

Regional Analysis

Duty Free Retailing Market: Regional Insights

Among the regional markets, Asia Pacific emerged as the largest duty-free retail market in 2022 with the highest revenue share. Also, China, India, South Korea, and Japan supply most of the product demand in the Asia Pacific region. This is mainly due to an increase in disposable income associated with the growth of foreign tourism. Another important factor in the growth of the region is the growing number of foreign students, especially in emerging economies such as China and India.

The North America duty free retailing market is expected to witness the fastest growth at a CAGR during the forecast period. Various companies are collaborating with Responsibility Tree Stores for limited edition or exclusive products, driving the growth of the market.

• North America: U.S., Canada and Mexico
• South America: Brazil, Argentina and Rest of South America
• Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe
• Asia Pacific:  China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East: GCC Countries and Rest of Middle East
• Africa: South Africa, North Africa, and Central Africa