Travel Retail Market Size Projected to Reach $156.51 billion by 2034 | 8.5%

According to Straits Research, the global Travel Retail Market was valued at $75.1 billion in 2025 and is projected to grow from $81.49 billion in 2026 to $156.51 billion by 2034, registering a CAGR of 8.5% during the forecast period (2026–2034).

Travel Retail Association (APTRA). However, the COVID-19 outbreak has severely impacted the travel retail market due to the lockdown imposed across the globe. The airport and the aviation industry have witnessed a collapse of around 77% in the first week of April 2020. Currently, only essential services are provided by the aviation industry, further hampering the market growth.

Asia-Pacific holds the largest share in the travel retail market. In 2018, the region generated revenue of USD 36.8 billion, which is almost 50% of the global market. Increasing expenditure on the aviation industry and rising spending power drive regional market growth.  

Market Segments

1. By Product Type
   1. Cosmetic & Fragrances
   2. Wines & Spirits
   3. Confectionery & Fine Foods
   4. Tobacco Products
   5. Fashion & Accessories
   6. Others
2. By Sector
   1. Duty Free
   2. Duty Paid
3. By Sales Channel
   1. Airport & Airline Shops
   2. Seaport and cruise line Shops
   3. Border Downtown Hotel Shops
   4. Others