According to the research report titled ‘Global Duty Free and Travel Retail Market - Analysis By Location (Airlines, Airport Shops, Ferries, Others), By Product, By Region, By Country (2021 Edition): Market Insights & Forecast with Impact of COVID -19 (2021-2026)’, available with MarketStudyReport, global duty free and travel retail market was worth USD 29.89 billion in 2020 and is anticipated to witness a healthy CAGR over 2021-2026.

As per report findings, rising demand for retail chains that offer luxury and premium brands of various goods is the major growth determinants for global dusty free and travel retail market.

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Notably, the distribution channels benefit travelers, improve their travel experiences, and provide value to economic operations, which is expected to pave the way for industry expansion over the forecast period of 2021-2026.

In terms of location, the market is divided into ferries, airport shops, airlines, and others.

Based on product terrain, the industry is branched into tobacco goods, fragrances & cosmetics, fashion & accessories, wines & spirits, and others. The fragrances & cosmetics segment of global duty free and travel retail industry is slated to expand at a notable CAGR during the analysis period, owing to erratic and constantly changing fashion trends, which is leading market participants to create distinctive, intriguing, and novel fragrances to appeal to various consumer groups around the world.

Regionally, the latest industry happenings are studied across Americas (Brazil, Mexico, U.S., Canada), Europe (UK, France, Italy, Germany), and Asia Pacific (Australia, China, India, Japan).

Considering the competitive landscape, Qatar Duty Free, Gebr. Heinemann SE & Co. KG, Duty Free Americas Inc., Tallink Grupp AS, Japan Airport Terminal Co. Ltd., Dublin Airport Authority (DAA), Kingfisher Airlines Limited, B&M European Value Retail S.A., WH Smith plc, and Dufry AG are the leading players in global duty free and travel retail market.