Global Duty Free Market: Size, Trends & Forecast with Impact Analysis of COVID-19 (2021-2025)
The key players of the duty free market are Dubai Duty Free, Lotte Duty Free, Lagardère and Dufry AG are also profiled with their financial information and respective business strategies.
By: Daedal Research
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall duty free market has also been forecasted for the period 2021-2025, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Dubai Duty Free
Lotte Duty Free
The duty free market can be segmented on the basis of products, named as: fragrances & cosmetics, wines & sprits, fashion & accessories, watches, jewelry & fine writing, confectionery & fine food and electronics gifts & others and on the basis of distribution channels, such as airports, airlines, ferries and other shops and sales.
The global duty free market has increased significantly during the years 2016-2020 and projections are made that the market would rise in the next four years i.e. 2021-2025 tremendously. The duty free market is expected to increase due to growing gross national income, growing urbanization, growing penetration of e-commerce, rising tourism and decreasing cost of air fares. Yet, the market faces some challenges such as economic slowdown, stringent government regulations and high degree of competition.
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