Global Travel Retail Market to reach USD XX billion by 2027.Global Travel Retail Market is valued at approximately USD XX billion in 2020 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2021-2027. The need for apparels, cosmetics, culinary products, and electronic retail in the travel retail industry has increased as a result of the increase in travel and tourism. Furthermore, rising urbanization and changing lifestyles are likely to drive the growth of the travel retail industry throughout the forecast period. Furthermore, the market's expansion is fueled by an increase in disposable income among middle-income groups as well as improved economic conditions. Factors such as technological improvements also contribute to the market's expansion. Travel retailers are working on providing a better consumer experience across various distribution channels, such as airports and ferry stations. Digitalization has resulted in the improvement of industry operations, which can assist retailers increase profitability. Passengers can benefit from digital technology during the boarding and check-in process. As a result, travel shops are increasingly relying on technology to draw customers into stores and keep them engaged throughout their journey while providing a seamless purchasing experience. To develop a retail environment while cooperating with airlines, travel retail needs to undergo some significant modifications. The airline service provider can supply information such as timetables, purchasing habits, and other information that can be used to present passengers with a compelling shopping experience. Furthermore, shifting demographics in the aviation business, such as the growing number of millennial passengers, need retailers to leverage digitally-driven, omnichannel, and loyalty-based systems to increase customer purchasing power. Furthermore, when compared to airport duty-free and travel retail, airline duty-free and travel retail sales are significantly lower, both in terms of volume and proportionally to the recipient's financial performance. In 2017, the Asia-Pacific region spent an estimated USD 36.2 billion on duty-free and travel shopping. Duty-free and travel retail sales at airports and airlines were over USD 21.2 billion, with 75 percent of sales occurring in the East Asia subregion. In the Asia-Pacific area, duty-free and travel retail expenditure supported an estimated 140,900 direct employment and USD 7.6 billion in direct GDP. However, the stringent government guidelines and the little consumer interest in shopping at the airports may impede the market growth over the forecast years.

The regional analysis of the Global Travel Retail Market is segmented for the key regions such as North America, Europe, Asia Pacific, Latin America, and Rest of the World (ROW). Asia Pacific is the dominating region across the world in terms of market share as many foreign investors visit countries such as Hong Kong and Malaysia for tax-free shopping. Whereas Europe is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to growing travel and tourism sector in the advancing countries.
Major market player included in this report are:

DFS Group
Dufry,
Lotte Duty Free
King Power International Group
The Shilla Duty Free
Gebr
Heinemann
China Duty Free Group (CDFG)
Aer Rianta International (ARI)
The Nuance Group.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:
Perfume & Cosmetics
Wine & Spirit
Electronics
Luxury Goods
Food, Confectionery, & Catering
Tobacco
Others
By Channel:
Airport
Cruise Liner
Railway Station
Border, Downtown & Hotel Shop

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year -2018,2019
Base year -2020
Forecast period - 2021 to 2027.

Target Audience of the Global Travel Retail Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors