Global Duty Free Retailing Market Growth (Status and Outlook) 2023-2029

Global Duty Free Retailing Market Growth (Status and Outlook) 2023-2029

This report studies the Duty-Free Retailing market. Duty-free shops (or stores) are retail outlets that are exempt from the payment of certain local or national taxes and duties, on the requirement that the goods sold will be sold to travelers who will take them out of the country. Which products can be sold duty-free vary by jurisdiction, as well as how they can be sold, and the process of calculating the duty or refunding the duty component.



However, some countries impose duty on goods brought into the country, though they had been bought duty-free in another country, or when the value or quantity of such goods exceed an allowed limit. Duty-free shops are often found in the international zone of international airports, sea ports, and train stations but goods can also be bought duty-free on board airplanes and passenger ships. They are not as commonly available for road or train travelers, although several border crossings between the United States and both Canada and Mexico have duty-free shops for car travelers. In some countries, any shop can participate in a reimbursement system, such as Global Blue and Premier Tax Free, wherein a sum equivalent to the tax is paid, but then the goods are presented to customs and the sum reimbursed on exit.

LPI (LP Information)' newest research report, the “Duty Free Retailing Industry Forecast” looks at past sales and reviews total world Duty Free Retailing sales in 2022, providing a comprehensive analysis by region and market sector of projected Duty Free Retailing sales for 2023 through 2029. With Duty Free Retailing sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Duty Free Retailing industry.

This Insight Report provides a comprehensive analysis of the global Duty Free Retailing landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Duty Free Retailing portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Duty Free Retailing market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Duty Free Retailing and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Duty Free Retailing.

The global Duty Free Retailing market size is projected to grow from US$ 71470 million in 2022 to US$ 208090 million in 2029; it is expected to grow at a CAGR of 16.5% from 2023 to 2029.

APAC is the largest market with about 61% market share. Europe is follower, accounting for about 18% market share.

The key players are Dufry, Lagardère Travel Retail, Lotte Duty Free, LVMH, Aer Rianta International (ARI), China Duty Free Group, Dubai Duty Free, Duty Free Americas, Gebr. Heinemann, King Power International Group (Thailand), The Shilla Duty Free etc. Top 3 companies occupied about 35% market share.

This report presents a comprehensive overview, market shares, and growth opportunities of Duty Free Retailing market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Cosmetics & Personal Care Products
Alcohol, Wine and Spirits
Tobacco & Cigarettes
Fashion & Luxury Goods
Confectionery & Food Stuff
Others

Segmentation by application
Airports
Onboard Aircraft
Seaports
Train Stations
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Dufry
Lagardère Travel Retail
Lotte Duty Free
LVMH
Aer Rianta International (ARI)
China Duty Free Group
Dubai Duty Free
Duty Free Americas
Gebr. Heinemann
King Power International Group (Thailand)
The Shilla Duty Free

Please note: The report will take approximately 2 business days to prepare and deliver.