Global Duty-free Retailing Market to Garner Revenue of $139.4 Billion at a CAGR of 8.2% from 2019-2026 - Exclusive Report [Pages-200] by Research Dive

The global duty-free retailing market is expected to witness growth due to a rise in people travelling. The Asia Pacific region is predicted to dominate the market due to increase in the middle class earnings.

New York, USA, May 26, 2021 (GLOBE NEWSWIRE) -- According to the latest report by Research Dive, the global duty-free retailing market is set to experience an increase in revenue from $74.2 billion in 2018 to over $139.4 billion in 2026 at a steady CAGR of 8.2%.

Market Dynamics

The report divided the market into different segments – by product and by distribution channel.

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Cosmetic and Personal Care Sub-segment to Dominate the Market

As per the report, by product,  the cosmetic and personal care segment is set to gain revenue of $24,141.7 million in 2018 and continue to increase at a CAGR of 7.6% in the forecast period. Personal care items and products are used by a vast majority of the population and can also make for great gifts. This makes it one of the most sought after products leading to further growth of the segment in the forecast period.

Airport Distribution Channel Sub-segment to Witness Increased Growth in the Forecast Period

The airport distribution channel gained revenue of $51,229.0 million in 2018 and is predicted to grow further at a CAGR of 8.5% in the forecast period. The airport is one the primary areas where brands and companies continue to promote their products. This also allows the outlets to maintain flexible prices which are one of the factors for the growth of the segment.

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Regional Analysis

The Asia-Pacific market gained revenue of $32,362.2 million in 2018 and is predicted to grow even further at a CAGR of 7.9%. A large section of people belonging to the middle class are able to shop from this section due to a rise in their disposable income. This along with many renowned brands being a part of the retail sector at airports is adding to the growth of the segment.

Key Players of the Market

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As per the report, some of the noteworthy brands working on helping the market grow further are

  • Duty Free Americas
  • Aer Rianta International
  • China Duty Free Group Co.Ltd
  • Lagardère group
  • Dubai Duty Free
  • LVMH

The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.  For instance, in June 2020, Dubai Duty Free launched home delivery services of a wide range of products from perfumes to clothing and gadgets as well. The products will be delivered to the doorstep of the customer and any order above AED150 won’t carry any delivery free.

In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report

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