Airport Duty-free Liquor Market
Driven by tourism growth and rising demand for premium spirits, the market is set to expand at a CAGR of 22.22%.
The surge in tourism and shifting consumer preferences towards premium liquors are key drivers of this market growth.— Allied Market Research
WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, June 26, 2024 /
EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, โ
Airport Duty-free Liquor Market by Type: Opportunity Analysis and Industry Forecast, 2021โ2027,โ the airport duty-free liquor market size was valued at $8.9 billion in 2019, and is projected to reach $10.4 billion in 2027, registering a CAGR of 22.22% from 2021 to 2027. The airport duty-free liquor at airport shops have become a favorite destination for travelers who like to shop before starting their journey. This is due to the elimination of local import tax or the duties implemented by the government bodies.
๐๐๐ฏ๐๐ข๐ฅ๐๐๐ฅ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐ฐ๐ข๐ญ๐ก ๐๐ซ๐๐ฉ๐ก๐ฌ ๐๐ง๐ ๐
๐ข๐ ๐ฎ๐ซ๐๐ฌ @
https://www.alliedmarketresearch.com/request-sample/10457
๐๐ฑ๐๐ข๐ญ๐ข๐ง๐ ๐๐๐๐๐ซ ๐๐ฅ๐๐ซ๐ญ! ๐ ๐๐๐ญ ๐ ๐๐๐ฌ๐ฌ๐ข๐ฏ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐จ๐ง ๐๐จ๐ฎ๐ซ ๐๐๐ฑ๐ญ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐! ๐๐ฎ๐ฒ ๐ง๐จ๐ฐ ๐๐ง๐ ๐ญ๐๐ค๐ ๐๐๐ฏ๐๐ง๐ญ๐๐ ๐ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ฅ๐ข๐ฆ๐ข๐ญ๐๐-๐ญ๐ข๐ฆ๐ ๐จ๐๐๐๐ซ. ๐๏ธ
๐ก๐๐๐ญ๐จ๐ซ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก:
Tourism Boom: Rise in tourism promotion and an increase in frequent fliers contribute to the growth of duty-free liquor sales at airports.
Economic Conditions: Improving economic conditions in Asia-Pacific and Oceania, coupled with a growth in disposable income, present substantial growth prospects.
Consumer Preferences: The demand for premium and exotic liquor, especially in the "others" category (beer, vodka, wine, and cognac), is on the rise, driven by changing tastes and preferences.
Market Trends: The whiskey segment holds a significant market share, while cognac gains popularity due to a surge in demand for premium spirits.
๐ก๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ ๐๐ง๐ ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ:
Others Segment Dominates: In 2019, the "others" segment led by beer, vodka, wine, and cognac accounted for the highest market share.
Wine Segment Growth: Strong demand for wine, particularly from millennials, creates revenue opportunities, driven by preferences for premium and exotic flavors.
Whiskey Segment Significance: Whiskey holds the second-highest market share, reflecting a global increase in demand.
๐ก๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ:
Europe Leads: Europe dominated the market in 2019, with contributions from tourists from the Middle East, China, the U.S., and Russia. German travelers' growing interest in duty-free liquor significantly contributes to market growth.
Asia-Pacific Prospects: The Asia-Pacific market is poised for substantial growth, fueled by rising living standards and increasing disposable income among consumers.
๐ก๐๐ฆ๐ฉ๐๐๐ญ ๐จ๐ ๐๐๐๐๐-๐๐:
The COVID-19 pandemic has posed challenges to the airport duty-free liquor market, with international travel restrictions leading to a decline in demand. However, as restrictions ease and international travel resumes, the market is expected to rebound.
๐๐๐๐ ๐๐๐ @
https://www.alliedmarketresearch.com/checkout-final/c4260acc29fdf80559ddc072222515e7
๐ก๐๐๐ฒ ๐
๐ข๐ง๐๐ข๐ง๐ ๐ฌ:
Regional Leadership: Europe led the market in 2019.
Whiskey Dominance: The whiskey category held the maximum market share in 2019.
๐ก๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
Key players in the global airport duty-free liquor industry, including Brown-Forman, Diageo, Erdington, Bacardi, Heineken, Glen Moray, Accolade Wines, Constellation Brands, Inc., REMY COINTREAU, Pernod, and Ricard, employ strategic measures to overcome competition and enhance their global market share.
๐ก๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค:
Despite the temporary setback caused by the pandemic, the airport duty-free liquor market is poised for significant growth, driven by the resurgence of travel and tourism, changing consumer preferences, and expanding opportunities in the Asia-Pacific region.
The airport duty-free shops have become a favorite destination for travelers who like to shop before starting their journey. This is due to the elimination of local import tax or the duties implemented by the government bodies. This results in lesser pricing of liquor or any other products such as cosmetics, perfumes, souvenir, and others, which are available at duty-free shops.
๐๐๐๐ญ ๐๐จ๐ฎ๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ @
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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.
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