Duty-Free Liquor Market Size Growth Share Analysis Forecast Report 2024

Posted by Shiva on November 18th, 2019

Duty-Free Liquor Market Size and Growth Rate Analysis:

Duty-Free Liquor Market size was valued at 3.1 Billion USD in 2019. 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 2024. The duty-free shops have become a favorite destination for travelers who like to shop before starting their journey. This is due to the elimination of local import tax or the duties implemented by the government bodies.

Duty-Free Liquor Market Regional Growth Insights:

Duty-Free Liquor Market is regionally divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to our research analysis, India and China are the two major countries with an increase in urban population and potential regions for duty-free liquor market. 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

Improvement in economic condition and growth in disposable income are the two key factors that propel the duty-free liquor market growth.

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Recent Developments in Duty-Free Liquor Market:

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.

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Duty-Free Liquor Market Segmentation Analysis:

Duty-Free Liquor Market By Type:

  • Beer
  • Wine
  • Vodka
  • Cognac
  • Whiskey

Duty-Free Liquor Market By Channel:

  • Cruise liners
  • Airport
  • Railway Station
  • Border
  • Downtown
  • Hotel shops

Duty-Free Liquor Market Key Players:

  • Brown-Forman
  • Diageo
  • Erdington
  • Bacardi
  • Heineken
  • Glen Moray
  • Accolade Wines
  • Constellation Brands Inc
  • Pernod
  • Ricard

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Joined: June 11th, 2019
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