Travel Retail Market Size, Growth Factors, Top Leaders, Trends, Analysis, Competitive Landscape and Regional Forecast 2029

travel-retail-market-size-growth-factors-top-leaders-trends-analysis-competitive-landscape-and-regional-forecast-2029 Published 1 month ago Views (15) Business Special Content

The global travel retail market size is anticipated to hit USD 96.11 billion by 2029 and exhibit a CAGR of 8.1% during the forecast period. The increasing number of international travelers is likely to drive the market’s growth. Fortune Business InsightsTM has presented this information in its report titled, “Travel Retail Market, 2022-2029”. The market size stood at USD 51.28 billion in 2021 and USD 55.74 billion in 2022.

Additionally, the rising popularity of sustainable duty-free shopping is a key trend that is anticipated to amplify market growth in the coming years.

COVID-19 Impact-

The strict lockdowns imposed during the pandemic have negatively impacted the market growth. The global air travel ban during the severe waves of the pandemic have affected the market’s growth. The growing number of air passengers amidst resuming air travel operations has helped the market retain traction. Nonetheless, the rising air travel and demand for personal protection equipment and products such as gloves, face masks, and sanitizers are expected to create lucrative growth for travel retail in the coming years.

Fortune Business Insights™ lists out all the travel retail market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

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