Rising visitor expenditure on luxury goods is a primary driver of the region market's expansion. Because of the relaxation of COVID-19 restrictions, airports in European countries have been built to attract travellers and passengers to Duty-Free Retail outlets on their way to the departure lounge, as is the case in other international markets. Such arrangements are likely to encourage travellers to make discretionary purchases, increasing product sales in the years ahead.
Europe Duty-free Retail Market Report Scope and Research Methodology:
The market report from Stellar Market Research is a mix of primary and secondary data gathered through rigorous research. The Europe Duty-free Retail market research's qualitative and quantitative data should assist decision-makers in determining which market segments and elements are driving the market. The size of the and regional Europe Duty-free Retail marketplaces was estimated using the bottom-up method. SWOT analysis reveals the strengths and weaknesses of the industry's leading players. A PESTLE analysis is included in the MMR study, which aids in the development of strategies for Europe Duty-free Retail industry investors. Political factors can help determine how much a government will influence the Europe Duty-free Retail market during the forecasted timeframe. Economic variables serve in the investigation of economic performance drivers that influence the economy. The economy has an impact on the Europe Duty-free Retail market, whilst legal aspects help understand the impact of the surrounding environment and the impact of environmental issues on the Europe Duty-free Retail market. The study reveals the Europe Duty-free Retail market's competitive landscape in order to comprehend competition at the local, regional, and national levels. It includes all of the critical components, such as operational areas, manufacturing, and product portfolio.
Europe Duty-free Retail Market Overview:
Stellar Market Research has published a report titled Europe Duty-free Retail Market: Manufacturers, Regions, Types, Applications, Segments, and Forecast to 2029. The report examines insights in the context of the Europe Duty-free Retail market, including its ever-changing patterns, industrial environment, and other key market components.
Europe Duty-free Retail Market Size was valued at USD 18.9 billion in 2022. The Europe Duty-free Retail Market size is estimated to grow at a CAGR of 5.8 % over the forecast period.
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Europe Duty-free Retail Market Segmentation:
The international market is separated into types, such as cigarettes, alcohol, cosmetics, and perfumes. The perfumes segment is expected to hold the majority of the market share during the period. Luxury fragrances are distributed to duty-free shops all around the world by well-known worldwide networks. Affluent international travellers commonly use duty-free retail chains to purchase perfumes from internationally recognised brands such as Giorgio Armani, Al Haramain Dazzle Intense, Belle, Signature Rose, Signature Silver, and Khulasat Al Oud. Major distribution channels (EDC) carry all perfume varieties, including Perfume or De Perfume, Eau De Perfume (EDP), Eau De Toilette (EDT), and Eau De Cologne.
The market is divided into segments based on the sales channel, which includes airports, ships, seaports, train stations, and other locations. The majority of overall product sales are generated at airports. The expanding number of domestic and international airports in all countries encourages product sales via this distribution channel. Several changes in the "airports" category demonstrate the growing number of duty-free shops in airports worldwide. According to a statement issued in April 2022 by the Adani Group, an Indian integrated corporate conglomerate, and Flemingo, a Dubai-based operator, a duty-free shop would be created at Thiruvananthapuram International Airport by the middle of May 2022.
This strategic step (new establishment) also emphasises the escalating rivalry in the Indian market. Furthermore, seaports are critical for the distribution of duty-free goods, particularly in European markets. Seaports, like airports, help brands of various goods increase their market presence. Recent port innovations offer potential market participants appealing commercial options. For example, the European a Tourism Development Corporation Ltd (ITDC), a division of the Ministry of Tourism, announced in November 2017 that it planned to open duty-free shops in all of the major seaports by 2021.
Europe Duty-free Retail Market Key Players:
World duty-freeHeinemannDufryTravel retail NorwayHellenic Duty-free shopsThe loopLogas FrancesDFSATU
Europe Duty-free Retail Market Regional Insights:
The Europe Duty-free Retail market report includes a detailed analysis of market size, dynamics and market share in regions: North America, Europe, Asia Pacific, South America and Middle East and Africa.
Key Questions answered in the Europe Duty-free Retail Market Report are:
- What is the expected Europe Duty-free Retail market size by the end of the forecast period?
- What are the Europe Duty-free Retail market segments?
- Which segment in the Europe Duty-free Retail market is expected to grow rapidly during the forecast period?
- Which are the prominent players in the Europe Duty-free Retail market?
- What key trends are expected to emerge in the Europe Duty-free Retail market during the forecast period?
- Which region dominated the Europe Duty-free Retail market?
- Which regional market is expected to grow at a high rate during the forecast period?
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
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About Stellar Market Research
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