North America Travel Beauty Retail Market, By Product (Skin Care, Fragrances, Make-Up, Hair Care, and Others), Distribution Channel (Airports, Airlines, Ferries, and Other Channels), Country (U.S., Canada, Mexico), Industry Trends and Forecast to 2029.
Market Analysis and Insights: North America Travel Beauty Retail Market
North America travel beauty retail market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 4.9% in the forecast period of 2022 to 2029 and is expected to reach USD 5,113,970.31 thousand by 2029. The rising popularity of travel and tourism is likely to help the market growth.
Travel retail, also called duty-free, is a sales procedure comprising the commercialization of the goods relating to the various product categories. This sales channel comprises the goods that have not had the taxation and excise applied on their sale price and for sales to travelers. Travel retail is a retailing channel, providing products to international travelers. It is an important source of income and has several marketing prospects.
The rising popularity of travel and tourism and the increase in the millennial population are expected to drive the demand for the North America travel beauty retail market. However, stringent government guidelines towards airport retailing may further restrict the market's growth.
Several boosters, such as increasing collaborative partnership among luxurious and premium brands, may create opportunities for the North America travel beauty retail market. However, a lack of awareness regarding travel retail is likely to challenge the market's growth during the forecast period.
This North America travel beauty retail market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief; our team will help you create a revenue impact solution to achieve your desired goal.
North America Travel Beauty Retail Market Scope and Market Size
North America travel beauty retail market is segmented into two notable segments, based on product, and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the North America travel beauty retail market is segmented into skin care, hair care, fragrances, make-up, and others. In 2022, the skin care segment is projected to dominate the region, as it is widely available, increasing its demand in the region.
- On the basis of distribution channel, the North America travel beauty retail market is segmented into airports, airlines, ferries, and other channels. In 2022, the airports segment is projected to dominate the region, as consumers prefer and choose airports as they are easily accessible, thus raising their demand.
North America Travel Beauty Retail Market Country Level Analysis
North America travel beauty retail market is segmented into two notable segments, based on product, and distribution channel and geography as referenced above.
The countries covered in the North America travel retail market are the U.S., Canada, Mexico. The U.S is expected to dominate the market due to the increased inclination towards tourism activities in the region. Canada is expected to dominate the market as there is an immense demand for beauty products.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North American brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Increasing Millennial Population
North America travel beauty retail market also provides you with detailed market analysis for every country's growth in an installed base of different kinds of products for the market, the impact of technology using life line curves, changes in infant formula regulatory scenarios, and their impact on the market. The data is available for the historical period 2011 to 2020.
Competitive Landscape and North America Travel Beauty Retail Market Share Analysis
North America travel beauty retail market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, and technology lifeline curve. The above data points provided are only related to the company's focus related to the North America travel beauty retail market.
Some of the major market players operating in the North America travel beauty retail market are Duty Free Americas, Inc, Aer Rianta International, DFS Group Ltd, Gebr. Heinemann SE & Co. KG, DUFRY, Lagardère Travel Retail, Shiseido Company, Limited, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
For instance,
- In August 2021, Durfy successfully extended its contract to operate the tax and duty free store at Cardiff Airport in Wales for 12 years, following a successful partnership for the past 20 years
- In January 2021, Lagardère Travel Retail announced the opening of three Aelia Duty Free stores at Jorge-Chávez international airport in Lima, Peru, with a profit-sharing agreement concluded with Lima Airport Partners (LAP) last year. These openings mark the beginning of the Group's operations in Latin America, which will help serve a wider consumer base
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