Latin America Travel Retail Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Latin America Travel Retail Market Analysis
The Latin America travel retail market is anticipated to rise at a considerable rate and register a CAGR less than 9% during the forecast period, 2021-2026.
Dur to COVID-19, the traffic for the first half of 2020 was down by 51% with expectations that the year would close with passengers numbers down by about 51% on 2019 with no immediate prospect of recovery. Due to OVID-19 pandemic and the resulting travel restrictions, some of the major airports witnessed a drop in international passengers for the months of March, April, May 2020 and onwards. Thereby, travel retail sales in the Latin America Travel Retail Market took a significant hit in the 2020.
Latin America is also a significant market for travel retail. The upsurge in the travel and tourism sector that has increased the demand for apparels, cosmetics, food items, and electronic retail, rise in the urbanization and change in the lifestyle and the growing of the disposable income amongst Latin Americans. The Latin American countries like Brazil, Argentina, Columbia, the millennial population is rising. Thus, the growing attention on the digitalizing of the retailing procedure and the increase in the demand for retail chains that provide luxury and premium brands of different products are estimated to cushion the growth of the travel retail market in the coming years in Latin America. People living in the Southern Cone like to take road trips during the Latin American summer and holiday months. With expanded shopping opportunities at favorite border locations, more people tempted to find a reason to travel. The Latin America regional duty free and travel retail industry has been looking at Argentina with trepidation because the country's flagging economy has kept Argentines at home and out of land border and airport duty free shops. However, the chaotic local markets, the stringent government guidelines and the little consumer interest in shopping at the airports are further projected to impede the growth of the travel retail market in the near future.
Latin America Travel Retail Market Trends
This section covers the major market trends shaping the Latin America Travel Retail Market according to our research experts:
Fragrance & Cosmetics Segment Share is Dominating the Travel Retail Market in North America.
The fragrances and cosmetics segment is dominating in the overall sales in Latin America travel retail which was almost one-third of the total market. The rise in disposable income among the middle-income groups and improvement in economic conditions, increase in urbanization and changes in lifestyle is driving the attraction of millinials towards the buying of fragrance & cosmetics products.
Airport Retailing is Generating Higher Revenues than other Channels in Latin America Travel Retail Market.
As airports continue to implement tasks such as check-in and bag-drop remotely, there is more physical space which can be used to increase non-aviation revenue streams, the world of airport retail is flourishing channel. Alongside increasing brick and mortar stores, airports are improving services through personalization and technology. Airport retailing has become an important channel for brands to promote and create awareness about products in the market. Airports are diversifying to nom- aeronautical segments such as retail, restaurant bars, cafeterias. It is expected that the airport size and passenger footfall will continue to rise which will positively impact the airport travel retail market in Latin America.
Latin America Travel Retail Industry Overview
The report covers major international players operating in the Latin America Travel Retail Market. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets. The leading brands are opening exclusive stores for special products. The companies are also promoting, differentiating and selling limited editions to increase their visibility and brand awareness in the market.
Latin America Travel Retail Market Leaders
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Dufry
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Duty Free Americas, Inc https://dutyfreeamericas.com/
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3Sixty
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Retail Services
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LURYX
*Disclaimer: Major Players sorted in no particular order
Latin America Travel Retail Market News
- April 2021- MONARQ Group shifted its focus to digital marketing, social media and e-commerce. To promote its brands on social media, the independent premium wine and spirits distributor launched MONARQ's Social Club early on during the pandemic with overwhelmingly positive feedback from participants.
- February 2021-Lancôme Travel Retail Americas and Dufry have partnered to open Lancôme's biggest flagship in South America. Lancôme's new flagship features numerous eye-catching screens and embraces the values of the brand - joy, happiness, and generosity -while offering shoppers a personalized, unique, and immersive retail experience.
Latin America Travel Retail Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Value Chain / Supply Chain Analysis
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4.5 Porters 5 Force Analysis
- 4.5.1 Threat of New Entrants
- 4.5.2 Bargaining Power of Buyers/Consumers
- 4.5.3 Bargaining Power of Suppliers
- 4.5.4 Threat of Substitute Products
- 4.5.5 Intensity of Competitive Rivalry
- 4.6 Insights on Trends in Passenger Traffic by Channels
- 4.7 Insights on Government Regulations and Initiatives Effecting the Market
- 4.8 Technology Innovations in the Market
- 4.9 Impact of Covid 19 on market
5. MARKET SEGMENTATION
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5.1 Retail Activity Type
- 5.1.1 Fashion and Accessories
- 5.1.2 Jewellery and Watches
- 5.1.3 Wine & Spirits
- 5.1.4 Food & Confectionary
- 5.1.5 Fragnances and Cosmetics
- 5.1.6 Tobacco
- 5.1.7 Others (Stationery, Electronics, etc.)
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5.2 Distribution Channel
- 5.2.1 Airports
- 5.2.2 Airlines
- 5.2.3 Ferries
- 5.2.4 Other(Railway Stations, Border, Downtown)
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5.3 Geography
- 5.3.1 Brazil
- 5.3.2 Argentina
- 5.3.3 Colombia
- 5.3.4 Rest of Latin America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Dufry
- 6.1.2 Heinemann Americas.
- 6.1.3 Duty Free Americas, inc
- 6.1.4 3Sixty
- 6.1.5 Retail Services
- 6.1.6 LURYX
- 6.1.7 Provimex
- 6.1.8 Sineriz
- 6.1.9 Monarq Group
- 6.1.10 BERNABEL TRADING S.A
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER
Latin America Travel Retail Industry Segmentation
'Travel retail' is a term that commonly refers to sales made in travel environments where customers require proof of travel to access the commercial area, but which are subject to taxes and duties.A complete background analysis of the Latin America carpet tile market, which includes an assessment of the emerging trends by segments and regional markets, significant changes in market dynamics, and market overview, is covered in the report. Latin America Travel Retail Market is Segmented By Product Type (Fashion and Accessories, Jewelry and Watches, Wine & Spirits, Food & Confectionery, Fragrances and Cosmetics, Tobacco, Others (Stationery, Electronics, etc.)), By Distribution Channel (Airports, Airlines, Ferries, Other (Railway Stations, Border, Downtown)) and By Geography (Brazil, Argentina, Colombia, Rest of Latin America).
| Retail Activity Type | Fashion and Accessories |
| Jewellery and Watches | |
| Wine & Spirits | |
| Food & Confectionary | |
| Fragnances and Cosmetics | |
| Tobacco | |
| Others (Stationery, Electronics, etc.) | |
| Distribution Channel | Airports |
| Airlines | |
| Ferries | |
| Other(Railway Stations, Border, Downtown) | |
| Geography | Brazil |
| Argentina | |
| Colombia | |
| Rest of Latin America |
Latin America Travel Retail Market Research FAQs
What is the current Latin America Travel Retail Market size?
The Latin America Travel Retail Market is projected to register a CAGR of less than 9% during the forecast period (2024-2029)
Who are the key players in Latin America Travel Retail Market?
Dufry , Duty Free Americas, Inc https://dutyfreeamericas.com/, 3Sixty, Retail Services and LURYX are the major companies operating in the Latin America Travel Retail Market.
What years does this Latin America Travel Retail Market cover?
The report covers the Latin America Travel Retail Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Travel Retail Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Latin America Travel Retail Industry Report
Statistics for the 2024 Latin America Travel Retail market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Latin America Travel Retail analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
