Duty-Free Retail Market is estimated to grow at a CAGR of 9.1% for 2030, says Stellar Market Research.

India USD 135.07 million investment in Dholera International airport and also expected for 190-200 operational airports by 2040. Asia Pacific, Europe, Noeth America and Middle East & Africa regions are expected significant growth. USD 2.3 billion trips annually in the U.S., with 1.7% increase in domestic travel in 2020. Also, 53 duty-free shops across Canada at airports and land borders.

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Duty-Free Retail Market growth has been adversely impacted by the COVID-19 pandemic. Total airport revenues decreased by 35% and 90% in Q1 and Q2 2021 respectively. China International Travel Service (CITS) reported a reduction profit in Q1 2021. Currency rate fluctuations due to the COVID-19 pandemic create economic inflation impacts duty-free markets. Trade protectionism policies and trade conflicts between nations like Australia and US, China and other countries may impact Duty-Free Retail Market dynamics.

Duty-Free Retail Market Segmentation:

By Type

Perfumes

Cosmetics

Alcohol

Cigarette

Others

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By Sales Channel

Airport

Onboard aircraft

seaport

Train stations

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Others Duty-Free Retail Market Key Players:

China Duty-Free Group (China)

Lotte Duty-Free (South Korea)

The Shilla Duty-Free (South Korea)

Dufry AG (Switzerland)

DFS Group (China)

Stellar Market Research is leading IT & Telecom research firm, has also published the following reports:

Asia pacific duty-free retail Market was valued at USD 46.41 billion in 2023. Global market size is estimated to grow at a CAGR of 8.7.

Europe Duty-free Retail Market was valued at USD 21.05 billion in 2023. The Market size is estimated to grow at a CAGR of 5.8 % for 2030.

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