The travel retail market is projected to gain momentum during the forecast period due to rising traveling activities and increasing spending power across the globe. In 2017–2018, The travel retail market was valued at USD 68.6 billion and USD 78 billion, respectively, as per Asia Pacific 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.
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Travel Retail Market Segmentation
Central and South America and the Caribbean
The Middle East
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now