The business intelligence report titled ‘Global Duty Free and Travel Retail Market - Analysis By Location (Airlines, Airport Shops, Ferries, Others), By Product, By Region, By Country (2021 Edition): Market Insights & Forecast with Impact of COVID -19 (2021-2026)’, available with MarketStudyReport, global duty free and travel retail market is expected to witness a considerable expansion through 2026.

Industry experts and analysts cite that escalating demand for premium, luxurious, and branded products is a major factor aiding the surge in global duty free and travel retail market. Moreover, increasing partnerships with manufacturing companies and duty-free stores for launch of limited or exclusive products is boosting the market growth.

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Notably, travel retail markets focus on enhancing travel experiences for consumers and subsequently contribute to economic growth.

The worldwide duty free and travel retail market is classified in terms of product type (tobacco goods, fragrances & cosmetics, fashion & accessories, wines & spirits, others), location (ferries, airlines, airport shops, others) and region (North America, Europe, Asia Pacific).  

The fragrances and cosmetics sub-market from the product segment is expected to exhibit a remarkable growth rate during the analysis timeframe, primarily attributable to changing fashion trends and frequent product launches.

From a regional standpoint, Asia Pacific duty free and travel retail industry is anticipated to amass substantial returns over the assessment timeline, mainly due to rising consumer base in countries like China, South Korea, and India as well as increasing traveling expenditure in view of escalating disposable income among masses residing in the region.

The competitive terrain of this business sphere is defined by key players such as Kingfisher plc, Qatar Duty Free, AS Tallink Grupp, B&M, Japan Airport Terminal Company, Gebr.Heinemann & Co. KG, WH Smith, Duty Free Americas, and Dufry AG. These players are actively focusing on developing and launching new, exciting, and unique fragrances to widen their consumer base and boost profits.