Market Size of Middle East and Africa Travel Retail Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 10.00 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
MEA Travel Retail Market Analysis
The travel retail market which is one of the strong performing industries in the Middle Eastern region has recorded a sharp drop in revenues during 2020. It recorded a lower market value which is more than half of the value is recorded in the year 2019 owing to the COVID-19 pandemic global outburst with around USD 2.8 billion in 2020. Repeated lockdowns and the closure of international borders for a longer time and the global outburst of the virus have resulted in the revenue plunge during the year.
The United Arab Emirates especially Dubai has been largely identified as the luxury travel destination for many international travelers owing to which it is largely seen as a traveler's shopping destination. Owing to the high number of tourist visits to the Emirates followed by the variety of diverse products that are available to the customers are the major factors that are helping the market to record increasing revenues each year. During the study period, the market has witnessed several new launches products, and brands which helped the market to record more revenue transactions. The duty-free retail spaces at Dubai International Airport, Abu Dhabi International Airport, are also contributing a major share to the travel retail owing to the high demand for the duty-free products acorss nations. The advantageous geography of the Middle Eastern region, which connects it to all four corners of the globe, is also helping the travel retail market in expanding its revenue by welcoming more shoppers.
MEA Travel Retail Industry Segmentation
A complete background analysis of the Middle East and Africa travel retail market, which includes an assessment of the emerging trends by segments, significant changes in market dynamics, and market overview, is covered in the report. The Middle East and Africa Travel Retail Market are Segmented By Product Type into Fashion and Accessories, Jewelry and Watches, Wine & Spirits, Food & Confectionery, Fragrances and Cosmetics, Tobacco, and Others (Stationery, Electronics, etc.), By Distribution Channel into Airports, Airlines, Ferries, and Others (Railway Stations, Border, Downtown), and by Geography into the United Arab Emirates, Saudi Arabia, South Africa, and Rest of the Middle East and Africa. The report offers market size and forecasts for the Middle East and Africa travel retail market in value (USD million) for all the above segments.
By Product Type | |
Fashion and Accessories | |
Jewellery and Watches | |
Wine and Spirits | |
Food and Confectionary | |
Fragnances and Cosmetics | |
Tobacco | |
Others (Stationery, Electronics, etc.) |
By Distribution Channel | |
Airports | |
Airlines | |
Ferries | |
Others (Railway Stations, Border, Downtown) |
By Geography | |
United Arab Emirates | |
Saudi Arabia | |
South Africa | |
Rest of Middle East and Africa |
Middle East and Africa Travel Retail Market Size Summary
The travel retail market in the Middle East and Africa has shown resilience and growth potential, particularly in the United Arab Emirates, with Dubai emerging as a premier luxury travel and shopping destination. Despite a significant revenue decline in 2020 due to the COVID-19 pandemic, the market has been recovering, driven by the high volume of international tourists and the diverse range of products available. The strategic geographical location of the Middle East, connecting it to global markets, has further bolstered the travel retail sector. Key airports like Dubai International and Abu Dhabi International have played a crucial role in this growth, offering extensive duty-free shopping options that attract a substantial number of global shoppers, including a notable increase in travelers from China.
The market is characterized by a competitive landscape with major players such as Dubai Duty-Free, Abu Dhabi Duty-Free, and Aer Rianta International Middle East, who are continually enhancing their offerings to attract more customers. The product categories contributing significantly to sales include beauty products, cosmetics, jewelry, perfumes, liquor, and tobacco, with gold and precious gems being particularly popular due to their unique designs. The presence of leading brands and their strategic initiatives, such as exclusive store openings and limited edition promotions, have further strengthened the market's position. Additionally, initiatives like Dubai Duty Free's environmental projects reflect a commitment to sustainability, which may enhance brand loyalty and customer engagement.
Middle East and Africa Travel Retail Market Size - Table of Contents
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1. MARKET INSIGHTS AND DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints/Challenges
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1.4 Market Opportunities
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1.5 Value Chain / Supply Chain Analysis
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1.6 Porter's Five Force Analysis
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1.7 Insights on Government Regulations and Initiatives Effecting the Market
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1.8 Consumer Behaviour Analysis
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1.9 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Fashion and Accessories
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2.1.2 Jewellery and Watches
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2.1.3 Wine and Spirits
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2.1.4 Food and Confectionary
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2.1.5 Fragnances and Cosmetics
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2.1.6 Tobacco
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2.1.7 Others (Stationery, Electronics, etc.)
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2.2 By Distribution Channel
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2.2.1 Airports
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2.2.2 Airlines
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2.2.3 Ferries
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2.2.4 Others (Railway Stations, Border, Downtown)
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2.3 By Geography
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2.3.1 United Arab Emirates
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2.3.2 Saudi Arabia
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2.3.3 South Africa
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2.3.4 Rest of Middle East and Africa
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Middle East and Africa Travel Retail Market Size FAQs
What is the current Middle East and Africa Travel Retail Market size?
The Middle East and Africa Travel Retail Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)
Who are the key players in Middle East and Africa Travel Retail Market?
Aer Rianta International Middle East, Abu Dhabi Duty Free, Dubai Duty Free, Lagardere Travel Retail and Dufry AG are the major companies operating in the Middle East and Africa Travel Retail Market.