Global Duty Free Retailing Market Size and Forecast to 2025
At Verified Market Intelligence, we provide a market study that encompasses both qualitative and quantitative assessments of latest trends for the market segmentations classified by our analysts. According to our research team, the Global Duty Free Retailing Market was valued at USD 70.37 billion in 2017 and is projected to reach USD 118.81 billion by 2025, growing at a CAGR of 6.8% from 2018 to 2025. Our research study mainly includes an in-depth study of the market which includes major drivers, restraints, opportunities and challenges faced in the market along with the latest industrial trends.
With growing population, the number of travelers has also increased lately enhancing the scope of tourism globally. Over 1 billion people travel internationally which instigates the need of shopping spaces in airport and various other sales channels such as sea ports, downtown shops, etc. These shops at the sales channels are subsidized of all the taxes and produces maximum number of revenue. Duty free retailing shops comprises various segments such as fragrances & cosmetics, alcohol & spirits, fashion & accessories, tobacco goods, watches & jewelry.
Increasing scope of travel and tourism and attraction towards the subsided goods is booming the market and acts as a potential driver for the overall market. Apart from this, low statistics of sales shows that the local duty free retailers are not able to generate ample amount of revenue which suggests that the market might experience a downfall.
The “Global Duty Free Retailing Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Dufry AG, China Duty Free, Duty Free Americas, Inc., Safilo, King Power International Group and many more. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
As a part of market estimation, the study also comprises a list of tables and figures for the “Global Duty Free Retailing Market” which focuses on a constructive knowledge essential for the companies or individuals interested in the market study report. As a part of market segmentation, our study exhibits a market analysis on the basis of distribution channel, type and geography. The Asia Pacific region is expected to be the largest due to the presence of numerous developing countries.
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