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Duty-free Retailing Market to grow by $ 53.50 bn during 2020-2024 | Industry Analysis, Market Trends, Market Growth, Opportunities, and Forecast 2024 | Technavio

November 17, 2020 GMT
Technavio has announced its latest market research report titled Global Duty-free Retailing Market 2020-2024 (Graphic: Business Wire)
Technavio has announced its latest market research report titled Global Duty-free Retailing Market 2020-2024 (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--Nov 17, 2020--

Technavio has been monitoring the duty-free retailing market and it is poised to grow by USD 53.50 bn during 2020-2024, progressing at a CAGR of about 9% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201117006027/en/

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Technavio has announced its latest market research report titled Global Duty-free Retailing Market 2020-2024 (Graphic: Business Wire)

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Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the duty-free retailing market. The market growth in 2020 is likely to increase compared to the market growth in 2019.

Frequently Asked Questions:

  • What are the major trends in the market?
    Exemption of excise duty on premium products is a major trend driving the growth of the market.
  • At what rate is the market projected to grow?
    The market will accelerate at a CAGR of about 9% and the incremental growth of the market is anticipated to be $ 53.50 bn.
  • Who are the top players in the market?
    DFS Group Ltd., Dubai Duty Free, Dufry Ltd., Gebr. Heinemann SE & Co. KG, HOTEL SHILLA Co. Ltd., JR /Group, King Power International Co. Ltd., Lagardère Group, LOTTE SHOPPING Co. Ltd., and LVMH Moët Hennessy - Louis Vuitton SE, are some of the major market participants.
  • What is the key market driver?
    The high growth rate of duty-free retailing is one of the major factors driving the market.
  • How big is the APAC market?
    The APAC region will contribute to 48% of the market share.

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View market snapshot before purchasing

The market is moderately fragmented, and the degree of fragmentation will accelerate during the forecast period. DFS Group Ltd., Dubai Duty Free, Dufry Ltd., Gebr. Heinemann SE & Co. KG, HOTEL SHILLA Co. Ltd., JR /Group, King Power International Co. Ltd., Lagardère Group, LOTTE SHOPPING Co. Ltd., and LVMH Moët Hennessy - Louis Vuitton SE are some of the major market participants. The high growth rate of duty-free retailing will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this duty-free retailing market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Duty-free Retailing Market 2020-2024: Segmentation

Duty-free Retailing Market is segmented as below:

  • Product
    • Fashion Apparel And Accessories
    • Cosmetics And Perfumes
    • Tobacco And Alcoholic Beverages
    • Confectionery And Fine Foods
  • Distribution Channel
    • Airports
    • Border
    • Downtown
    • Hotel Shops
    • Others
  • Geography
    • APAC
    • Europe
    • North America
    • South America
    • MEA

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40625

Duty-free Retailing Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The duty-free retailing market report covers the following areas:

  • Duty-free Retailing Market Size
  • Duty-free Retailing Market Trends
  • Duty-free Retailing Market Industry Analysis

This study identifies the exemption of excise duty on premium products as one of the prime reasons driving the duty-free retailing market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Duty-free Retailing Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist duty-free retailing market growth during the next five years
  • Estimation of the duty-free retailing market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the duty-free retailing market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of duty-free retailing market vendors

Table of Contents:

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis
  • Market Sizing
  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five Forces Summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product placement
  • Fashion apparel and accessories - Market size and forecast 2019-2024
  • Cosmetics and perfumes - Market size and forecast 2019-2024
  • Tobacco and alcoholic beverages - Market size and forecast 2019-2024
  • Confectionery and fine foods - Market size and forecast 2019-2024
  • Market opportunity by Product

Market Segmentation by Distribution channel

  • Market segments
  • Comparison by Distribution channel placement
  • Airports - Market size and forecast 2019-2024
  • Border, downtown, and hotel shops - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by Distribution channel

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver - Demand led growth
  • Volume driver - Supply led growth
  • Volume driver - External factors
  • Volume driver - Demand shift in adjacent markets
  • Price driver - Inflation
  • Price driver - Shift from lower to higher priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • DFS Group Ltd.
  • Dubai Duty Free
  • Dufry Ltd.
  • Gebr. Heinemann SE & Co. KG
  • HOTEL SHILLA Co. Ltd.
  • JR /Group
  • King Power International Co. Ltd.
  • Lagardère Group
  • LOTTE SHOPPING Co. Ltd.
  • LVMH Moët Hennessy - Louis Vuitton SE

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Website:www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: RETAIL DISCOUNT/VARIETY OTHER RETAIL

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 11/17/2020 01:30 PM/DISC: 11/17/2020 01:31 PM

http://www.businesswire.com/news/home/20201117006027/en