Travel Retail Market Size to Grow USD 145 Billion by 2028 at a CAGR of 14.9%

Funviralpark 2 years ago 0 4

Bangalore, India, December 23, 2022 /PR Newswire/ — Global travel retail market Split by Product Type (Perfume & Cosmetics, Wine & Spirits, Electronics, Luxury Goods, Food, Confectionery, Catering, Tobacco) and Sales Channel (Airports, Cruise Liners, Train Stations, Borders, Downtown & Hotel Shops): Global Opportunity Analysis and Industry Forecasts – 2028.

Values ​​Reports Logo

The size of the global travel retail market is US$145 billion By 2028, it will register a CAGR of 14.9% during the forecast period.

Download Free Sample:

Key factors driving the growth of the travel retail market:

As a result of the growth in travel and tourism, there is an increasing demand for clothing, cosmetics, food, and electronics in the travel retail industry. In addition, increasing urbanization and changing lifestyles are key factors expected to drive the expansion of the travel retail market throughout the forecast year.

Moreover, both improving economic conditions and increasing disposable income of the middle class have contributed significantly to the expansion of the market. In addition, factors such as technological development are supporting the expansion of the travel retail market. In addition, the industry is expected to develop with the increasing population of millennials.

View full report:

Trends impacting travel retail market growth:

The travel retail market rises as a result of increased demand for products from domestic and international passengers. 10.89 million foreign tourists arrive India According to a study by the Brands Equity Foundation of India (IBEF) titled ‘Analysis of the Indian Tourism and Hospitality Industry’, 2019 saw a 3.2% year-on-year increase. Retailers are now offering customized loyalty programs and deals to meet the changing buying preferences of travelers. With this feature, the industry is growing as retailers increase their revenue from duty-free goods.

Rising millennial spending on travel and tourism also increases product revenue. Rising millennial spending on travel and tourism also increases product revenue. This factor is expected to drive the growth of the travel retail market. Travelers spend more time browsing in airports set up as cozy retail areas, contributing to on-the-go consumption trends. To meet individual demand, travel retailers are leveraging data insights such as detailed knowledge of customer origins and destinations. Staff and product displays are arranged based on the language and cultural sensitivities of the arriving passenger groups to ensure that relevant products are prominently displayed to the target customer. Retailers have a tremendous opportunity to increase customer loyalty, product awareness, adoption and diversity.

The industry gives small businesses the opportunity to showcase their products to tourists from all over the world at low advertising and marketing costs. The expansion of the travel retail market has been greatly impacted by the growing foot traffic of domestic and international travelers, especially when it comes to air travel. Another factor influencing the upward trend of the market is the improvement of infrastructure and retail options.

The growth potential of the travel retail market is enormous due to technological advances that enable better tracking and analysis of consumer trends. Branded retailers have the opportunity to implement loyalty management systems to track and rate customers in order to serve the majority of travelers. Loyalty management systems help businesses generate revenue in the travel retail market by tracking customer behavior and improving customer tracking.

Get Customized Reports:

Travel retail share:

From 2021 to 2028, Asia Pacific The CAGR of the area will be the highest at 17.2%.because there are many retailers China, India, sea ​​breamand in other countries, Asia Pacific The region is projected to dominate the global market over the analysis period. In addition, due to the increase in the wealthy population and the expansion of the tourism industry, Asia Pacific It is expected to expand as quickly as possible.


major companies:

Buy Now For Single User + Covid-19 Impact :


We have introduced a bespoke subscription for you. For subscription plans, leave a note in the comments section.

Similar report:

  • Europe travel retail market rated size US$23.03 billion In 2017, and is projected to reach US$39.6 billion By 2025, it will grow at a CAGR of 7.2% from 2018 to 2025.

  • airport retail market size is projected to reach US$65.77 billion by 2028 US$42.56 billion In 2021, the CAGR from 2022 to 2028 is 6.3%.

  • In-Flight Entertainment & Connectivity Market rated with US$4.13 billion In 2020, and is projected to reach US$11.65 billion By 2030, it will register a CAGR of 11.36%.

  • business travel market rated size US$695.9 billion Projected to reach in 2020 2001.1 billion USD By 2028, it will grow at a compound annual growth rate (CAGR) of 13.2% from 2021 to 2028.

  • Travel risk management services market rated with US$96.2628 billion In 2021, and is estimated to reach US$223,617.7 million By 2031, the CAGR from 2022 to 2031 is 8.1%.

  • Traditional travel trailer market size is estimated to be worth US$7,818.3 million In 2021, the readjusted size will be US$7,818.3 million By 2028, the CAGR during the review period is 4.3%.

  • Travel Retail Cosmetic Market

  • Duty Free and Travel Retail Market

  • travel agency market

  • Travel and Expense (T&E) Software Market

  • Travel and expense management system market

  • T&E (travel and expense) tool market

  • Travel and Expense Management (TEM) Solutions Market

  • Travel expenses and expense reimbursement software market

  • Corporate travel security market

  • Corporate Travel Management (CTM) Software Market

  • Traveler Security Service Market

  • luxury travel market rated with US$22.2 billion In 2021, and is expected to reach US$39.3 billion By 2028, it will register a CAGR of around 8.4% over the forecast period (2022-2028).

  • travel insurance market rated size US$19.2 billion Projected to reach in 2019 US$39.3 billion It will grow at a CAGR of 17.4% from 2020 to 2027 by 2027.

  • ecotourism market expected to reach US$1012.24 billion Estimated to 2028 US$461.16 billion The CAGR in 2022, 2023 and 2028 is 14.0%.

Click here for related reports travel retail market

about us:

Valuates provides in-depth market insights on various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts will help you select the best reports covering your industry. We offer report customization because we understand the unique requirements of your niche. Our customization allows you to request specific information from the report to meet your market analysis needs.

To achieve a consistent view of the market, data is collected from various primary and secondary sources and at each step data triangulation techniques are applied to reduce deviations and find a consistent view of the market. Each sample we share includes the detailed research methodology employed to generate the report. Please contact our sales team for a complete list of our data sources.


rate the report
[email protected]
US Toll Free 1-(315)-215-3225
For IST Phone +91-8040957137
WhatsApp: +91-9945648335
twitter –
LinkedIn –
site map:




View Original Content: 14-9–valuates-reports-301709587.html

SOURCE Values ​​Report

– Advertisement – BuzzMag Ad
Written By

Leave a Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

– Advertisement – BuzzMag Ad