Europe Travel Retail Market Size Hits $39.60 billion by 2025

PORTLAND, OREGON, UNITED STATES, Oct. 18, 2022 / — The travel retail market has grown steadily over the past several years. Europe is one of the largest travel markets in the world. The launch of branded and premium clothing, exotic fragrances and organic skincare products has seen significant growth due to population growth and economic stability.

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Better consumer lifestyles in terms of clothing, luxury goods, expensive fragrances and cosmetics, an increase in disposable income and accelerated urbanization are the main drivers of the European travel retail market. However, the industry’s growth is being constrained by increases in terrorism and crime, as well as strict government controls, particularly when it comes to airport shopping. On the other hand, it is predicted that larger attempts to expand the travel and tourism industry in the region would soon offer lucrative opportunities.

Allied Market Research recently published a report entitled Europe Travel Retail Market by Product (Perfume & Cosmetics; Wine & Spirit; Electronics; Luxury Goods; Food, Confectionery & Catering; Tobacco; and Others) and Channel (Airport; Cruise Liner; Train Station and Border, Downtown and Hotel Business): Opportunity Analysis and Industry Forecast, 2018–2025″. The travel retail market in Europe was US$23.03 billion in 2017 and is projected to reach US$39.60 billion by 2025, at a CAGR of 7.2% from 2018-2025.

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The perfume and cosmetics segment dominated the market

The perfumes and cosmetics segment held the lion’s share, contributing almost a third of the overall market, driven by the rise in travel and tourism due to rising disposable income, changing consumer lifestyles and rapid urbanization. However, the luxury goods segment is expected to show the fastest CAGR of 9.5% over the forecast period, early adoption of premium lifestyle and huge growth potential in the developing market. The report also includes an in-depth analysis of the other segments such as Grocery, Confectionery & Catering, Electronics, Wine & Spirits, Luxury Goods, Tobacco, and others.

Border, downtown and hotel business segment projected to post fastest CAGR by 2025

The border, downtown and hotel businesses segment is expected to register the fastest CAGR of 7.6% during the forecast period due to its price advantages due to tax and currency fluctuations and the availability of a wide range of products for customers. However, the airport segment held the largest share, accounting for nearly three-fifths of the total market, reflecting a large number of locked-in consumers. The report offers an analysis of the other segments such as cruise ships and train stations.

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Britain held the largest share

The UK market had the largest share, accounting for more than a quarter of the market, due to its stronger base of luxury products and the presence of some of the biggest clothing and cosmetics brands. However, the market is expected to show the fastest CAGR of 10.8% across Germany during the forecast period. The report includes analysis of the market in other regions such as France, Italy, Spain and the rest of Europe.

Additionally, Europe is one of the largest travel retail markets due to its stronger luxury product base. It is expected to register remarkable growth at a CAGR of 7.2% over the forecast period. The region owns some of the largest clothing and cosmetics brands, namely LVMH of France and H&M of Sweden, which hold a significant stake in the luxury clothing, perfumes and cosmetics sector, making it one of the leading travel retail markets. Wealthy tourists from the Middle East, China, USA and Russia are major contributors to the growth of the European travel retail market. As the historic home of most luxury houses, the European market accounts for nearly $23 billion in travel retail.

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key result

The luxury goods segment is expected to grow at a CAGR of 9.5% over the forecast period.
The airport segment accounted for more than half of the market share in 2017 and is expected to grow at a CAGR of 7.2%.
Germany had an outstanding market share in 2017 and is expected to grow at the highest CAGR of 10.8%.

Important market participants

The European Travel Retail Market Report provides an in-depth analysis of key market players such as daa Plc., Autogrill SpA, Flemingo International Ltd., Dufry AG, Lagardère SCA, Gebr. Heinemann SE & Co. KG, RegStaer, LVMH Group, TRE³ and WH Smith PLC.

David Korrea
Allied Analytics LLP
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