DUTY FREE RETAILING MARKET ANALYSIS

Duty Free Retailing Market, By Product Type (Fragrances & Cosmetics, Wines & Spirits, Fashion & Accessories, Tobacco, Watches & Jewelry, Confectionary & Fine Food, Electronics & Gifts, and Others), By Sales Channel (Airport Shops, Ferries, Airlines, and Others), and By Region (North America, South America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Mar 2023
Code : CMI2567
Pages :123
Formats :
Excel and PDF
Industry : Consumer Goods

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