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Europe Travel Retail Market by Product and Channel: Opportunity Analysis and Industry Forecast, 2018-2025

  • ID: 4828558
  • Report
  • May 2019
  • Region: Europe
  • 143 pages
  • Allied Analytics LLP
The Europe travel retail market size was valued at $23.03 billion in 2017, and is projected to reach $39.60 billion by 2025, growing at a CAGR of 7.2% from 2018 to 2025.



Europe is one of the largest travel retail markets owing to its stronger base of luxury products. The region possesses some of the biggest apparels and cosmetic brands, namely LVMH from France and H&M from Sweden, which account for a significant share in the luxury apparels, perfumes, and cosmetics sector, thereby making it one of the largest travel retail market in 2017. Wealthy tourists from the Middle East, China, the U.S., and Russia continue to contribute a significant part in the market.

Rise in disposable income has improved the consumer lifestyle and helped shift their preference toward apparels, luxury goods, premium fragrances, cosmetics, and other products. However, stringent government regulations in airport retailing are expected to hamper the market growth.

The Europe travel retail market is segmented based on product, channel, and country. The product segment includes perfumes & cosmetics, wine & spirits, tobacco, electronics, luxury goods, food & confectionery, and catering & others. In 2017, the perfumes & cosmetics segment accounted for the maximum revenue with more than 30% market share. Based on channel, the Europe travel retail market is classified into airports; cruise liners; railway stations; and border, downtown, & hotel shops. Based on country, it is analyzed across the UK, Germany, France, Italy, Spain, and rest of Europe.

Based on product type, the luxury goods segment is anticipated to register highest growth during the forecast period in the Europe travel retail market. The purchase of these goods is dependent on the economic stability of any region, as the goods are majorly procured by the upper economic classes.

The report offers a comprehensive analysis of the key players such as Autogrill S.p.A., daa Plc., Dufry AG, Flemingo International Ltd., Gebr. Heinemann SE & Co. KG, Lagardère SCA, LVMH Group, RegStaer, TRE³, and WH Smith PLC.

KEY BENEFITS FOR STAKEHOLDERS
  • This study presents the analytical depiction of the Europe travel retail market trends and future estimations to determine the imminent investment pockets.
  • A detailed analysis of the Europe travel retail market segments measures the potential of the market. These segments outline the favorable conditions for the market forecast.
  • Europe travel retail market forecasts are offered along with information related to key drivers, restraints, and opportunities.
  • The current Europe travel retail market is quantitatively analyzed from 2018 to 2025 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of the buyers & suppliers in the industry.
KEY MARKET SEGMENTS

By Product Type
  • Perfume & Cosmetics
  • Electronics
  • Wine & Spirits
  • Food, Confectionery & Catering
  • Tobacco
  • Luxury Goods
  • Others
By Channel
  • Airports
  • Cruise Liner
  • Railway Station
  • Border, Down-Town, & Hotel Shops
By Country
  • UK
  • Germany
  • France
  • Italy
  • Rest of Europe
Note: Product cover images may vary from those shown
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. Snapshot
2.2. CXO perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porter's five force analysis
3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Threat of substitution
3.3.4. Threat of new entrant
3.3.5. Competitive rivalry
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.1.1. Growth in the travel & tourism industry
3.5.1.2. Rapid growth in urbanization
3.5.1.3. Rise in disposable income
3.5.2. Restraints
3.5.2.1. Increase in terrorism & crime rate
3.5.2.2. Stringent government rules, particularly for airport retailing
3.5.3. Opportunity
3.5.3.1. Initiatives to continuously develop the travel & tourism industry of the region

CHAPTER 4: EUROPE TRAVEL RETAIL MARKET, BY PRODUCT TYPE
4.1. Overview
4.1.1. Market size and forecast, by product type
4.2. Perfumes & cosmetics
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by country
4.3. Food, confectionery, & catering
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by country
4.4. Electronics
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast, by country
4.5. Wine & spirits
4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast, by country
4.6. Luxury goods
4.6.1. Key market trends, growth factors, and opportunities
4.6.2. Market size and forecast, by country
4.7. Tobacco
4.7.1. Key market trends, growth factors, and opportunities
4.7.2. Market size and forecast, by country
4.8. Others
4.8.1. Key market trends, growth factors, and opportunities
4.8.2. Market size and forecast, by country

CHAPTER 5: EUROPE TRAVEL RETAIL MARKET, BY CHANNEL
5.1. Overview
5.1.1. Market size and forecast, by channel
5.2. Airports
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by country
5.3. Cruise liners
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by country
5.4. Railway stations
5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast, by country
5.5. Border, down-town & hotel shops
5.5.1. Key market trends, growth factors, and opportunities
5.5.2. Market size and forecast, by country

CHAPTER 6: EUROPE TRAVEL RETAIL MARKET, BY COUNTRY
6.1. Overview
6.1.1. Key market trends, growth factors, and opportunities
6.1.2. Market size and forecast, by product type
6.1.3. Market size and forecast, by channel
6.1.4. Market size and forecast, by country
6.1.5. UK
6.1.5.1. Market size and forecast, by product type
6.1.5.2. Market size and forecast, by channel
6.1.6. Germany
6.1.6.1. Market size and forecast, by product type
6.1.6.2. Market size and forecast, by channel
6.1.7. France
6.1.7.1. Market size and forecast, by product type
6.1.7.2. Market size and forecast, by channel
6.1.8. Italy
6.1.8.1. Market size and forecast, by product type
6.1.8.2. Market size and forecast, by channel
6.1.9. Spain
6.1.9.1. Market size and forecast, by product type
6.1.9.2. Market size and forecast, by channel
6.1.10. Rest of Europe
6.1.10.1. Market size and forecast, by product type
6.1.10.2. Market size and forecast, by channel

CHAPTER 7: COMPANY PROFILES
7.1. AUTOGRILL S.P.A.
7.1.1. Company overview
7.1.2. Company snapshot
7.1.3. Product portfolio
7.1.4. Business performance
7.1.5. Key strategic moves and developments
7.2. DAA PLC.
7.2.1. Company overview
7.2.2. Company snapshot
7.2.3. Operating business segments
7.2.4. Product portfolio
7.2.5. Business performance
7.2.6. Key strategic moves and developments
7.3. DUFRY AG
7.3.1. Company overview
7.3.2. Company snapshot
7.3.3. Operating business segments
7.3.4. Product portfolio
7.3.5. Business performance
7.3.6. Key strategic moves and developments
7.4. FLEMINGO INTERNATIONAL LTD.
7.4.1. Company overview
7.4.2. Company snapshot
7.4.3. Operating business segments
7.4.4. Product portfolio
7.5. GEBR. HEINEMANN SE & CO. KG
7.5.1. Company overview
7.5.2. Company snapshot
7.5.3. Operating business segments
7.5.4. Product portfolio
7.5.5. Business performance
7.5.6. Key strategic moves and developments
7.6. LAGARDÈRE SCA
7.6.1. Company overview
7.6.2. Company snapshot
7.6.3. Operating business segments
7.6.4. Product portfolio
7.6.5. Business performance
7.7. LVMH GROUP (DFS GROUP LIMITED)
7.7.1. Company overview
7.7.2. Company snapshot
7.7.3. Operating business segments
7.7.4. Product portfolio
7.7.5. Business performance
7.7.6. Key strategic moves and developments
7.8. REGSTAER
7.8.1. Company overview
7.8.2. Company snapshot
7.8.3. Operating business segments
7.8.4. Product portfolio
7.8.5. Key strategic moves and developments
7.9. TRE³
7.9.1. Company overview
7.9.2. Company snapshot
7.9.3. Operating business segments
7.9.4. Product portfolio
7.10. WH SMITH PLC.
7.10.1. Company overview
7.10.2. Company snapshot
7.10.3. Operating business segments
7.10.4. Product portfolio
7.10.5. Business performance
7.10.6. Key strategic moves and developments
Note: Product cover images may vary from those shown
According to this report titled,'Europe Travel Retail Market by Product and Channel: Opportunity Analysis and Industry Forecast, 2018 - 2025,'the Europe travel retail market size was valued at $23.03 billion in 2017, and is projected to reach $39.60 billion by 2025, growing at a CAGR of 7.2% from 2018 to 2025. The perfumes & cosmetics segment has a strong customer base in the Europe travel retail market. Some of the leading companies, such as Estee Lauder, L’Oréal, Rituals Cosmetics, Revlon, and others, are expanding their businesses by opening their outlets at every international airport with exclusive and wide range of fragrances and skin care products. Billions of people travel internationally every year, and thus, spend money and time at the airports. The travelers get a lot of free time at the airport to browse and buy products. In addition, travel retail creates more visibility for their products, which draws the attention of new customers in different countries and increases brand loyalty of existing customers.

Development of the travel & tourism industry, rapid urbanization, and changes in lifestyle, owing to increased disposable income of consumers drive the growth of the travel retail market. However, stringent regulations in airport retailing are expected to hamper the Europe travel retail market growth.

The wines & spirits segment is the second largest revenue contributor in the Europe travel retail market. The consumption of wines, particularly luxury wines and spirits has witnessed considerable growth in the past few years. The wines & spirits segment, accounted for 16.3% share of the Europe travel retail market.

In addition, it has been observed that luxury wines & spirits are highly preferred by the international passengers, which leads to the growth of the Europe travel retail industry. Passengers travelling over distances mostly prefer wines & spirits. Also, growth in culture of owning luxurious goods and consumption of expensive wines & spirits drive the growth of the market.

Improvement in economic condition and growth in disposable income are the two key factors that propel the growth of the travel retail market. After the 2009 economic crisis in Europe, the world economy witnessed a standstill. However, strong recovery from the crisis resulted in notable economic growth, and has led to an increase in disposable income among the middle-income groups.

Furthermore, Europe is one of the largest travel retail markets, owing to its stronger base of luxury products. It is anticipated to experience notable growth at a CAGR of 7.2% during the forecast period. The region possesses some of the biggest apparels and cosmetics brands, namely, LVMH from France and H&M from Sweden, which hold a significant share in the luxury apparels, perfumes, and cosmetics sector, thereby making it one of the leading travel retail market. Wealthy tourists from the Middle East, China, the U.S., and Russia contribute significantly toward the growth of the European travel retail market. Being the historical home to most of the luxury houses, Europe’s market accounts for nearly $23 billion of the travel retail sector.

Key Findings of the Europe Travel Retail Market:

Based on country, the UK was the highest contributor to the Europe travel retail market in 2017, growing at a CAGR of 7.6% from 2018 to 2025.
Based on product, the perfumes & cosmetics segment accounted for nearly one-third share of the market in the Europe travel retail market in 2017, and is estimated to grow at a CAGR of 6.9% from 2018 to 2025.
The luxury goods segment is expected to experience growth at a CAGR of 9.5% during the forecast period.
Based on channel, the airports segment accounted for more than half share of the market in 2017, and is estimated to grow at CAGR of 7.2%.
Based on country, Germany accounted for a prominent market share in 2017, and is anticipated to grow at the highest CAGR of 10.8%.

The report offers a comprehensive analysis of the key players such as Autogrill S.p.A., daa Plc., Dufry AG, Flemingo International Ltd., Gebr. Heinemann SE & Co. KG, Lagardère SCA, LVMH Group, RegStaer, TRE³, and WH Smith PLC.
Note: Product cover images may vary from those shown

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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