North 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 | 10.00 % |
| 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?
North America Travel Retail Market Analysis
The North America travel retail market is anticipated to rise at a considerable rate and register a CAGR less than 10% during the forecast period, 2021-2026.
COVID-19 has all but wiped out the travel industry and a bounce back is looking increasingly unlikely as passenger numbers continue to be affected by outright bans, onerous quarantine requirements or - in the odd locale where the freedom to travel still exists - fear. Lauder's latest results release (Q4 2020) acknowledges that consumer traffic continues to be impacted by travel bans in most travel retail locations. American Airlines has reduced October schedule by 55% and the International Air Transport Association has predicted losses of US$84 billion for its members over the year.
Travel retail also called as duty free is a sales procedure comprising of the commercialization of the goods relating to the various product categories. This sales channel comprises of the goods that have not had the taxation, excise applied on their sale price and for sales to customers that are travelers. travel retail is a retailing channel, providing products to international travelers. It is an important source of income and has several marketing prospects. 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 North Americans. The rise in the number of millennial populations, 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 some of the factors estimated to cushion the growth of the travel retail market in the coming years in North America. The travel and tourism industry are one of the largest growing sectors across North America. Increased passenger traffic has led the infrastructure development in the travel- retail market such as larger retail experiences which include shops, restaurants, bars and other forms of retail. Wealthy tourists from the other countries continue to contribute a significant part in the North America market.
North America Travel Retail Market Trends
This section covers the major market trends shaping the North America Travel Retail Market according to our research experts:
Airport Retailing is Generating Higher Revenues than other Channels in North America Travel Retail Market.
The world of airport retail is booming. 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. 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 North America.
Fragrance & Cosmetics Segment Share is Dominating the Travel Retail Market in North America.
The fragrances and cosmetics segment had a higher share in the overall sales in North America travel retail which was nearly one-third of the total market. Improved consumer lifestyle toward premium fragrances, and cosmetics, increase in disposable income, and rapid growth in urbanization are the key factors that drive the growth of the segment in the North American travel retail market. However, the luxury retail segment is expected to grow fastest owing to a premium lifestyle and huge market opportunity in the luxury product segments.
North America Travel Retail Industry Overview
The report covers major international players operating in the North 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.
North America Travel Retail Market Leaders
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Dufry
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Duty Free Americas, Inc
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Aer Rianta International North America
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DFS Group
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International Shoppes
*Disclaimer: Major Players sorted in no particular order
North America Travel Retail Market News
- June 2021- 3Sixty Duty Free has partnered with Global Crossing Airlines to allow travellers to purchase a range of travel retail products via their onboard inflight duty free programme.
- April 2021- Hudson Group has revealed its first-of-a-kind, multi-brand automated retail concept. Driven by the Dufry-owned company's ongoing commitment to enhancing the traveller experience and leveraging digital innovation, the new automated retail concept aims to create a contactless, 24/7 retailing destination.
North 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 USA
- 5.3.2 Canada
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 3Sixty
- 6.1.2 International Shoppes
- 6.1.3 Stellar Partners
- 6.1.4 Aer Rianta International North America
- 6.1.5 Duty Free Americas, Inc
- 6.1.6 Dufry
- 6.1.7 DFS Group
- 6.1.8 Heinemann Americas.
- 6.1.9 The Nuance Group (Canada) Inc.
- 6.1.10 ALFA Brands Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER
North 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 North 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. North 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 (United States and Canada).
| 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 | USA |
| Canada |
North America Travel Retail Market Research FAQs
What is the current North America Travel Retail Market size?
The North America Travel Retail Market is projected to register a CAGR of less than 10% during the forecast period (2024-2029)
Who are the key players in North America Travel Retail Market?
Dufry, Duty Free Americas, Inc, Aer Rianta International North America, DFS Group and International Shoppes are the major companies operating in the North America Travel Retail Market.
What years does this North America Travel Retail Market cover?
The report covers the North America Travel Retail Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Travel Retail Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Travel Retail Industry Report
Statistics for the 2024 North America Travel Retail market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Travel Retail analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
