Business Wire

Subscribe to Business Wire: eMailAlertsEmail Alerts
Get Business Wire via: homepageHomepage mobileMobile rssRSS facebookFacebook twitterTwitter linkedinLinkedIn

News Feed Item

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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180712005873/en/

Technavio has published a new market research report on the global duty-free retailing market from 2 ...

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.

This report is available at a USD 1,000 discount for a limited time 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 analysis

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.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market sizing
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.