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According to the report published by the market research firm Allied Market Research (AMR) on November 12, 2020, the European travel retail market was worth $23.03 billion in 2017 and is expected to reach $39.60 billion by 2025, with a CAGR of 7.2% from 2018 to 2025.
According to this analysis, the travel retail industry already dominated the market in 2017, holding nearly three-fifths of the total market share. In the United Kingdom in particular, the travel retail sector alone contributed more than a quarter of the market.
This predominance of travel retail in Europe can be explained in various ways. On the one hand, current growth of the travel and tourism industry is helping to boost this sector. On the other hand, the positive rate of urbanization, as well as the increase in disposable income, are contributing favourably to the emergence of travel retail on the European market.
Obviously, this observation should be put into perspective with regard to the reinforcement of security measures in airports – linked to the multiplication of acts of terrorism and the increase in the crime rate – as well as the strict rules enacted by governments concerning travel retail. These obstacles to growth are all the more present as Covid-19 shakes Europe a second time, leading to a ban on travel and tourism. The gradual relaxation of government regulations should nevertheless encourage a return to growth in the travel retail sector.
Analyzing various European regions, the Allied Market Research report provides an overview of the economic health of the sector in other European countries, such as Germany where the compound annual growth rate (CAGR) is expected to be the fastest, at around 10.8% over the forecast period. Travel retail is not the only sector considered by this market study. The segment of border stores, city centers and hotels is expected to show the fastest CAGR of 7.6% over the forecast period.
According to the same report, the luxury goods segment is expected to show the fastest average annual growth rate (AAGR) of 9.5% over the forecast period. The main players mentioned in the AMR study belong to the travel retail sector (Dufry AG, Lagardère SCA, Gebr. Heinemann SE & Co KG, RegStaer, daa Plc, Autogrill S.p.A., WH Smith PLC and Flemingo International Ltd) as well as the luxury goods sector (the LVMH group is studied in particular), which in sum represents good future prospects for these industries.
Read also > LUXURY HOTELS : AN NEW HOTEL COMPLEX BETWEEN NICE AND MONACO, PLANNED FOR 2025
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According to the report published by the market research firm Allied Market Research (AMR) on November 12, 2020, the European travel retail market was worth $23.03 billion in 2017 and is expected to reach $39.60 billion by 2025, with a CAGR of 7.2% from 2018 to 2025.
According to this analysis, the travel retail industry already dominated the market in 2017, holding nearly three-fifths of the total market share. In the United Kingdom in particular, the travel retail sector alone contributed more than a quarter of the market.
This predominance of travel retail in Europe can be explained in various ways. On the one hand, the growth of the travel and tourism industry is helping to boost this sector. On the other hand, the positive rate of urbanization, as well as the increase in disposable income, are contributing favourably to the emergence of travel retail on the European market.
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According to the report published by the market research firm Allied Market Research (AMR) on November 12, 2020, the European travel retail market was worth $23.03 billion in 2017 and is expected to reach $39.60 billion by 2025, with a CAGR of 7.2% from 2018 to 2025.
According to this analysis, the travel retail industry already dominated the market in 2017, holding nearly three-fifths of the total market share. In the United Kingdom in particular, the travel retail sector alone contributed more than a quarter of the market.
This predominance of travel retail in Europe can be explained in various ways. On the one hand, the growth of the travel and tourism industry is helping to boost this sector. On the other hand, the positive rate of urbanization, as well as the increase in disposable income, are contributing favourably to the emergence of travel retail on the European market.
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