Global Duty-Free Retailing Market Anticipated to Garner a Revenue of $94,203.7 Million and Rise at a CAGR of 10.6% during the Analysis Timeframe from 2022 to 2031 [240-Pages] | Disclosed by Research Dive

According to the report, the global duty-free retailing market is projected to generate a revenue of $94,203.7 million and grow at a CAGR of 10.6% throughout the forecast timeframe 2022-2031.

Dynamics of the Duty-Free Retailing Market

With the increasing number of inbound and outgoing travelers and the rapid increase in domestic as well as international business travel, and sports travel all across the world, the duty-free retailing market is expected to experience prominent growth over the estimated period. Moreover, the rising number of duty-free retailing stores with the integration of modern technology is predicted to bolster the growth of the market during the analysis period. However, the stringent regulations on the sale of duty-free tobacco products may hinder the growth of the market throughout the forecast timeframe.

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Covid-19 Impact on the Duty-Free Retailing Market

The outbreak of the Covid-19 pandemic has had a negative impact on the duty-free retailing market. This is mainly because the duty-free & travel retail (DF&TR) industry completely depends on the passenger transport capacity and during the pandemic due to the strict restrictions on travel, the air terminals have lost almost 88% of their travelers. This led to the shutdown of most of the airport stores over the crisis. However, the improved focus on the health and well-being of passengers by the duty-free retail stores is expected to create growth opportunities for the market post-pandemic.

Segments of the Market

The report has divided the duty-free retailing market into segments based on product type, sales channel, and region.

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Key Players of the Market

The major players of the duty-free retailing market include

These players are broadly working on the development of new business strategies and tactics such as mergers and acquisitions, partnerships and collaborations, and product development to acquire a leading position in the global industry.

For instance, in September 2022, Heavensake, an award-winning creation by French Wine Master Regis Camus announced its collaboration with Monarq Group, a leading brand-building company. With this collaboration, the companies aimed to make synergies for US Duty Free, the Caribbean, and Latin America by focusing on healthier food and drink alternatives for consumers, mostly from America.

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Further, the report also presents other vital aspects including SWOT analysis, product portfolio, the financial performance of the key players, and the latest strategic development.

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About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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