Duty-Free Liquor Market Value And Expected Growth:
Duty-Free Liquor Market was valued at 3.1 Billion USD in 2021. The market is expected to grow at a CAGR is of 9.4% over the forecast period to reach a valuation of 4 Billion USD in 2026.
Duty-Free Liquor Market Overview:
Duty-free alcohol refers to liquor that is exempt from paying federal taxes and duties, as well as other local taxes. Duty-free alcohol is sold to travelers heading to a different country. These stores or retail outlets can be found at various channels such as airports, cruise liners, railway stations, frontier, downtown, and hotel shops. Citizens often buy liquor from duty-free shops before returning to their home country to invest the foreign currency surplus. Duty-free shops have become a favorite destination for travelers who enjoy shopping before their journey begins.
Market Drivers, Restraints And Opportunities:
Significant factors which have helped drive the Duty-Free Liquor Market forward are-
The factors holding the Duty-Free Liquor Market back include-
Improvement in the economic situation and growth in disposable income are the two key factors driving the growth of the duty-free liquor market. The world economy was at a standstill after the 2009 European economic crisis. This financial crisis has affected almost all countries in the world. Steady recovery from the crisis, however, has resulted in healthy economic growth, especially in developing economies, and has resulted in increased disposable income among middle-income groups, thereby adding to the middle-class population
Recent Developments:
Consumers in Singapore can now buy tax and duty-absorbed alcohol from a particular site. The page, launched by Changi Airport and retailer DFS Group based in Hong Kong on July 30 2019, is selling over 140 varieties of wine, champagne and sake.
Research Methodology:
The research done takes place in two phases namely-
Secondary Research The first phase of the research process is an extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. An extensive secondary research helps in generating hypothesis and identifying critical areas of interest that are investigated through primary research.
Primary Research This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc. It also helps in deciding the scope and deliverables of the study in terms of the requirement of the market. Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies.
Duty-Free Liquor Market Segmentation Analysis:
By Type
By Channel
By Region
The category of whisky accounted for the largest share of the duty-free alcohol market due to an increase in the global consumer base. In fact, whiskey is known as a premium product and an indicator of taste and sophistication
Thanks to the continuous growth in international aviation and air traffic, the airport group achieved the highest share in 2018. In addition, the growth of the duty-free liquor industry is one of the key factors in the development of the tourism industry
Duty-Free Liquor Market Geographical Analysis:
India and China are the two major countries with urban population growth and future duty-free liquor industry areas. In addition, the rise in travel & tourism industry development is also anticipated during the forecast period to fuel market growth. This is because leisure tourism, corporate tourism and others are included in travel & tourism. Chinese tourists are the most significant contributors to the sales of luxury brands, accounting for 25% of global revenue from retailers' luxury products.
Key Players in the Market:
The key players operating in the duty-free liquor market analysis concentrate on prominent strategy for overcoming competition and sustaining and increasing their global share.
Research Report Key Highlights:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Type
5.1.1 Introduction
5.1.2 Beer
5.1.3 Wine
5.1.4 Vodka
5.1.5 Cognac
5.1.6 Whiskey
5.1.7 Y-o-Y Growth Analysis, By Type
5.1.8 Market Attractiveness Analysis, By Type
5.1.9 Market Share Analysis, By Type
5.2 Channel
5.2.1 Introduction
5.2.2 Cruise Liners
5.2.3 Airport
5.2.4 Railway Station
5.2.5 Border
5.2.6 Downtown
5.2.7 Hotel Shops
5.2.8 Y-o-Y Growth Analysis, By Channel
5.2.9 Market Attractiveness Analysis, By Channel
5.2.10 Market Share Analysis, By Channel
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Type
6.1.3.3 By Channel
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.4.3 By Channel
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Type
6.1.5.3 By Channel
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Brown-Forman
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Diageo
8.3 Erdington
8.4 Bacardi
8.5 Heineken
8.6 Glen Moray
8.7 Accolade Wines
8.8 Constellation Brands Inc
8.9 REMY COINTREAU
8.10 Pernod
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
