Duty-Free liquor Market size was valued at US$ 9.48 Bn in 2022 and the total revenue is expected to grow at 10.8% through 2023 to 2029, reaching nearly US$ 19.44 Bn.
Duty-Free liquor Market Overview
The Duty-Free liquor Market study includes ever-changing trends, the industry environment, and all of the market’s leading elements. The research approach was used to investigate the Duty-Free liquor industry, and the results have been logically presented in the report.
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Duty-Free liquor Market Dynamics
The development of the travel and tourism sector, rapid urbanization growth, and rising disposable income drive the duty-free liquor market. The market is growing as more people adopt new lifestyles, there are more frequent travelers, and more people are promoting travel. Due to the fact that duty-free shops may sell alcohol for less money than conventional stores, customers frequently purchase it from them at airports, train stations, cruise ships, and other locations.
Individuals’ high growth in disposable income in Europe and the Asia-Pacific region is what is fueling the industry’s overall expansion for alcohol purchased duty-free. On the other side, strict government regulations for airport retailing partially impede growth.
Duty-Free liquor Market Report Scope and Research Methodology
The global Duty-Free liquor Market report covers a brief analysis of drivers, restraints, product developments, technical advancements, market opportunities, restrictions, growth strategies, and market prospects. The report offers an in-depth analysis of the Duty-Free liquor industry, including key figures such as market size, market share, revenue growth, and CAGR for the forecast period (2022 to 2029). The analysis by MMR focuses on the most important data on regional Duty-Free liquor market share. The research also includes a full geographical analysis of the Duty-Free liquor industry, highlighting the industry’s growth potential and market hurdles in each of the regions with the list of key players in the industry. The bottom-up approach was used to estimate the Duty-Free liquor market size. SWOT analysis was employed to provide the strengths, weaknesses, opportunities and threats in the Duty-Free liquor industry.
Duty-Free liquor Market Regional Insights
Geographically, the report is segmented into several key countries, with Duty-Free liquor market size, growth rate, import and export of Duty-Free liquor market in these countries, which cover North America, U.S., Canada, Mexico, Europe, UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America, Brazil, and the Middle East and Africa.
Duty-Free liquor Market Segmentation
The segment is divided into Beer, Wine, Vodka, Cognac, and Whiskey according to Type. With a CAGR of 12.20% during the anticipated period, the Whiskey category will continue to dominate the market. The duty-free liquor market size was dominated by the whiskey segment. due to a rise in consumers that are based all over the world. Whiskey is often seen as a high-end product and a sign of elegance.
The segment is broken down by distribution channel into cruise ship, airport, railway station, border, downtown, and hotel shops. With a CAGR of 12.000% throughout the predicted period, the airport segment has experienced the fastest increase. In 2021, the airport category received the largest share. due to the ongoing expansion of aviation and air travel worldwide. Another important reason driving the expansion of the duty-free liquor market is the tourism sector.
Market Size (Value) Estimates & Forecast By Type, 2022-2029
1. Beer
2. Wine
3. Vodka
4. Cognac
5. Whiskey
Market Size (Value) Estimates & Forecast By Distribution Channel, 2022-2029
1. Cruise Liner
2. Airport
3. Railway Station
4. Border
5. Downtown
6. Hotel Shop
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Duty-Free liquor Market Key Players
- Brown Forman
2. Erdington
3. Bacardi
4. Heineken
5. Glen Moray
6. Accolade Wines
7. Constellation Brand Inc.
8. Remy Cointreau
9. Pernod
10.Richard
11.Diageo
12.The Famous Grouse
Key Questions answered in the Duty-Free liquor Market Report are:
- Which region holds the maximum share in the Duty-Free liquor market?
- What is the expected CAGR of the Duty-Free liquor market during the forecast period?
- Which application segment emerged as the leading segment in the Duty-Free liquor market?
- What key trends are expected to emerge in the Duty-Free liquor market in the coming years?
- Which factor is contributing to the final price of the Duty-Free liquor?
- What is the expected Duty-Free liquor market size by 2029?
- Who are the Duty-Free liquor key players in the industry?
- Which company held the largest share in the Duty-Free liquor market?
Key Offerings:
- Past Market Size and Competitive Landscape (2017 to 2021)
- Past Pricing and price curve by region (2017 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segments and their sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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