(MENAFN- PR Newswire) PORTLAND, Ore., March 1, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Duty-Free Liquor Market by Type (Beer, Wine, Vodka, Cognac, and Whiskey) and Channel (Cruise liners, Airport, Railway Station, Border, downtown, and hotel shops): Global Opportunity Analysis and Industry Forecast, 2021–2027. " According to the report, the global duty-free liquor industry was estimated at $13.78 billion in 2019, and is expected to hit $16.10 billion by 2027, registering a CAGR of 11.1% from 2021 to 2027.
Drivers, restraints, and opportunities-
Changes in lifestyle, rise in tourism promotion, increase in disposable income, and surge in the number of frequent fliers drive the growth of the global duty-free liquor market. On the other hand, stringent government rules, especially for airport retailing impede the growth to some extent. However, rapid urbanization is expected to create multiple opportunities in the industry.
Request Sample Report at:
Covid-19 scenario-
- The outbreak of the pandemic led to slowed down international travels, which in turn affected the duty free sales to a significant extent.
- The travel retail sector market was temporarily on hold during the first phase of the lockdown; accordingly, duty free liquor had seen crucial sales channel cutoff.
- However, the situation has started ameliorating and the global duty-free liquor market is expected to revive soon.
The whiskey segment to dominate by 2027-
Based on product, the whiskey segment contributed to more than one-third of the global duty-free liquor market share in 2019, and is projected to lead the trail by the end of 2027. The same segment would also register the fastest CAGR of 12.20% throughout the forecast period, owing to rise in demand for blended whiskey.
The airport segment to retain its top share during the forecast period-
Based on channel, the airport segment accounted for nearly three-fourths of the global duty-free liquor market revenue in 2019, and is expected to rule the roost by 2027. The same segment would also manifest the fastest CAGR of 12.00% from 2021 to 2027. At airports, duty-free liquor stores are mostly located in central areas with high passenger flow. Both departure and arrival areas can be fitted with this shop concept that attracts the customers to visit the stores. These factors fuel the growth of the segment.
Europe, followed by Asia-Pacific and North America, held the major share in 2019-
Based on geography, Europe, followed by Asia-Pacific and North America, garnered the major share in 2019, generating nearly two-fifths of the global duty-free liquor market. Germans' love for travel is always on an upward trend, which significantly contributes to the growth of the market. At the same time, the market across Asia-Pacific would exhibit the fastest CAGR of 13.4% by 2027. The budget airline boom and democratization contribute to growth in number of travelers that use airways and cruise liners in the Asia-Pacific region. These factors augments the market growth in this province.
For Purchase Enquiry at:
Key players in the industry-
- Diageo
- Erdington
- Pernod
- Bacardi
- Heineken
- Ricard
- Glen Moray
- Accolade Wines
- Constellation Brands, Inc
- REMY COINTREAU
- Brown-Forman
Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Avenue Library Subscription | Request for 14 days free trial of before buying:
Get more information :
Similar Reports:
Luxury Wines and Spirits Market: Global Opportunity Analysis and Industry Forecast 2020–2027
Craft Beer Market: Global Opportunity Analysis and Industry Forecast 2018–2025
Plant-Based Beverage Market: Global Opportunity Analysis and Industry Forecast 2019–2026
India Pale Ale Market: Global Opportunity Analysis and Industry Forecast 2018–2025
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact: David Correa5933 NE Win Sivers Drive#205, Portland, OR 97220United States USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1(855)550-5975[email protected] Web: Follow Us on LinkedIn:
SOURCE Allied Market Research
MENAFN01032021003732001241ID1101679985
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.