(MENAFN- Straits Research) 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
By Product
Fashion and accessories
Perfume and cosmetics
Electronics
Food
Confectionery products
Bakery products
Catering
Luxury goods
Watches
Jewelry
Wine & spirits
By Channel
Airports
Cruise line
Border, downtown, and hotel shops
Railway stations
By Region
North America
The U.S.
Canada
Mexico
Europe
Germany
France
The U.K.
Italy
Spain
Netherlands
Russia
The Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Malaysia
Singapore
Vietnam
The Rest of Europe
Central and South America and the Caribbean
Brazil
Argentina
Colombia
The Rest of Central South America and the Caribbean
The Middle East
Saudi Arabia
The UAE
Oman
Bahrain
The Rest of the Middle East
Africa
Nigeria
South Africa
Ghana
Tanzania
The Rest of Africa
" 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 Periods
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