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Airport Duty-free Liquor Market by Type : Global Opportunity Analysis and Industry Forecast, 2021–2027

Airport Duty-free Liquor Market by Type : Global Opportunity Analysis and Industry Forecast, 2021–2027

  • February 2021
  • 217 pages
  • ID: 6062952
  • Format: PDF
  • Allied Market Research

Summary

Table of Contents

Airport Duty-free Liquor Market by Type (Whiskey and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027

The global airport duty-free liquor market size was valued at $8.9 billion in 2019, and is expected to grow at a CAGR of 22.22% to reach $10.4 billion by 2027.

Airport duty-free liquor refers to the liquor available at airport and is exempted from payment of national taxes, duties, and other certain local taxes. The airport duty-free liquor is purchased by the travelers, travelling from one country to another through flight. The rules and regulations on airport duty-free liquor differ from one country to another. Singapore has strict government rules on the purchase of duty-free liquor whereas India allows the passenger to purchase two to three liters of alcohol from airport duty-free shops.

The growth of the global airport duty-free liquor is majorly driven by development of the travel & tourism industry. The rise in tourism promotion, increase in number of passengers and frequent fliers, and others, are expected to fuel the growth of the airport duty-free liquor market. Also, increase in disposable income of individuals, particularly in Europe and Asia-Pacific, is anticipated to witness high growth, thus driving the overall growth of the market However, stringent government rules, especially for airport retailing, are expected to hamper the market growth. This is due the strict baggage rules for air travel passengers that limit the baggage capacity or charge extra for excess baggage.

The outbreak of the COVID-19 pandemic has adversely affected the growth of the duty-free liquor market. People are restricted to stay at their homes to stop the spread of the diseases. Governments have been forced to introduce and maintain social and mobility restrictions in an attempt to control spread of the disease. In this context, the shops of airport duty-free liquor have been closed. As the travel retail sector market is temporarily on hold, airport duty-free liquor has experienced crucial sales channel cutoff. Many international flights have been cancelled during the lockdown period, which is expected to halt growth of the airport duty-free liquor market.
The global airport duty-free liquor market is segmented on the basis of type into whiskey and others.
The report highlights the drivers, restraints, opportunities, and growth strategies adopted by the key players to understand the dynamics and potential of the industry. Key players operating in the airport duty-free liquor market are profiled to provide a competitive landscape of the marketspace.

The major players profiled in the report are Brown-Forman, Diageo, Erdington, Bacardi, Heineken, Glen Moray, Accolade Wines, Constellation Brands, Inc., REMY COINTREAU, Pernod, Ricard.


KEY BENEFITS FOR STAKEHOLDERS
• The report includes an in-depth analysis of different segments and provides market estimations between 2021 and 2027.
• Porter’s five forces model illustrates the potency of buyers & sellers, which assists the market players to adopt effective strategies.
• Key market players are profiled to gain an understanding of the strategies adopted by them.
• This report provides a detailed analysis of the current trends and future estimations from 2021 to 2027, which helps identify the prevailing market opportunities.


KEY SEGMENTS
• By Type
o Whiskey
o Other
• By Region
o North America
U.S.
Canada
o Europe
UK
France
Italy
Spain
Germany
The Netherland
Denmark
Russia
Switzerland
Ireland
Sweden
o Asia-Pacific
Japan
Korea
China
Taiwan
Hong Kong
Singapore
Thailand
Indonesia
Malaysia
UAE
Qatar
o Oceania
Australia
New Zealand

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