Duty-Free Liquor Market

Duty-Free Liquor Market Value And Expected Growth:

Duty-Free Liquor Market was valued at 3.1 Billion USD in 2022. 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 2027.

Duty-Free Liquor Market Drivers Restraints And Opportunities:

The growth of the travel & tourism industry includes lifestyle changes, a rise in tourism promotion, an increase in passenger numbers and frequent fliers, and others.

Consumers tend to buy alcohol from duty-free shops located at airports, railway stations, cruise liners, and others, as it is available at a lower price than liquors in regular stores.Rising disposable income is a crucial driver of the duty-free alcohol market in the years ahead.High growth has been seen in the disposable income of individuals in Europe and Asia-Pacific, driving the overall growth of the duty-free liquor industry.Strict government rules, especially for airport retailing.Strict baggage rules which restrict baggage capacity or charge extra for excess baggage for passengers 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 in the Duty-Free Liquor Industry:

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.

REPORT COVERAGE:

Duty-Free Liquor Market Segmentation Analysis:

By Type

• Beer

• Wine

• Vodka

• Cognac

• Whiskey

By Channel

• Cruise liners

• Airport

• Railway Station

• Border

• Downtown

• Hotel shops

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:

• North America

• Europe

• Asia-Pacific

• Middle East and Africa

• Latin America

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.

Duty-Free Liquor Market Key Players in the Market:

The key players operating in the duty-free liquor market analysis concentrate on a prominent strategy for overcoming the competition and sustaining and increasing their global share.

1. Brown-Forman

2. Diageo

3. Erdington

4. Bacardi

5. Heineken

6. Glen Moray

7. Accolade Wines

8. Constellation Brands Inc

9. REMY COINTREAU

10. Pernod

11. Ricard