Global Duty-free Retailing Market 2018-2022|High Growth Rate in Developing Regions| Technavio

The global duty-free retailing market is expected to post a CAGR of over 8%
during the period 2018-2022, according to the latest market research
report by Technavio.

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Technavio has published a new market research report on the global duty-free retailing market from 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the market is the exemption of excise
duty on premium products. The major sales in duty-free retailing are
concentrated on luxury brands of fashion goods, accessories, hard luxury
items, cosmetics, fragrances, and wines and spirits. In 2017, the
fashion apparel and accessories, hard luxury goods, and electronics; and
cosmetic and perfumes accounted for nearly 66% of the total revenue
generated in the global duty-free retailing market.

This market research report on the global
duty-free retailing market 2018-2022 also provides an analysis
of the most important trends expected to impact the market outlook
during the forecast period. Technavio classifies an emerging trend as a
major factor that has the potential to significantly impact the market
and contribute to its growth or decline.

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only: View
market snapshot before purchasing

In this report, Technavio highlights the high growth rate of duty-free
retailing in developing regions as one of the key emerging trends in the
global duty-free retailing market:

Global duty-free retailing market: High growth
rate of duty-free retailing in developing regions

In regions such as APAC, the rapidly growing tourism industry and
increasing airport traffic has made it the fastest growing duty-free
retailing market across the globe. In 2016, the number of international
travelers in East-Asia and Pacific was recorded at nearly 284 million.
In APAC, the international tourist arrival registered a growth of nearly
8% in 2016 as compared to 2015.

“The major contribution of almost 50% in the international tourist
arrivals in APAC was by Northeast Asian countries. Apart from the
growing tourism industry, there has been a significant growth in APAC
countries and is attracting more international travelers,” says a
senior analyst at Technavio for research on retail goods and services.

Global duty-free retailing market: Segmentation

This market research report segments the global duty-free retailing
market by product (fashion apparel and accessories, hard luxury goods,
and electronics; cosmetics and perfumes; wines and spirits; tobacco; and
confectionery and fine foods) and geographical regions (APAC, EMEA, and
the Americas).

The fashion apparel and accessories, hard luxury goods, and electronics
segment held the largest market share in 2017, accounting for nearly 36%
of the market. This product segment is expected to dominate the global
market throughout the forecast period.

EMEA led the market in 2017 with a market share of nearly 41% of the
market share. The market share occupied by this region is anticipated to
decrease by nearly 3%, during 2018-2022.

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Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

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