Global Airport Duty-free Liquor Market Size To Worth USD 19.61 Billion by 2033 | CAGR of 10.19%
Category: Consumer GoodsGlobal Airport Duty-free Liquor Market Size To Worth USD 19.61 Billion by 2033
According to a research report published by Spherical Insights & Consulting, The Global Airport Duty-free Liquor Market Size is to Grow from USD 7.43 Billion in 2023 to USD 19.61 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 10.19% during the projected period.
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Browse key industry insights spread across 223 pages with 110 Market data tables and figures & charts from the report on the "Global Airport Duty-free Liquor Market Size, Share, and COVID-19 Impact Analysis, By Product (Whiskey, Vodka, Rum, Gin, Wine, Cognac, and Others), By Distribution Channel (Duty-Free Shops, Airlines, and Online Retailers), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/airport-duty-free-liquor-market
Airport duty-free liquor is alcohol marketed in airports that is exempt from local fees, federal duties, and tariffs. Duty-free alcohol outlets at international airports provide discounts ranging from 10% to 20% on liquor bottles. Tourists traveling between countries can purchase alcohol duty-free at the airport. Passengers can buy booze at these locations for a lesser price because they are exempt from government taxes and charges. Furthermore, before leaving for their home countries, travelers frequently prefer to use any spare foreign currency to purchase alcohol from duty-free establishments. The increased demand for low-cost, value-added hard liquor products creates considerable potential opportunities for the market. However, the increased use of non-alcoholic beverages poses obstacles to market expansion.
The whiskey segment dominates the market with the highest market share of the airport duty-free liquor market during the projected timeframe.
Based on the product, the airport duty-free liquor market is divided into whiskey, vodka, rum, gin, wine, cognac, and others. Among these, the whiskey segment dominates the market with the highest market share of the automotive control panel during the projected timeframe. The market dominance attributed to advanced economies is increasing demand for excellent whiskey. Luxury whiskey is growing more popular in the United States as the need for flavored alcoholic beverages grows.
The duty-free shops segment is anticipated to grow at the highest CAGR of the airport duty-free liquor market during the projected timeframe.
Based on the distribution channel, the airport duty-free liquor market is divided into duty-free shops, airlines, and online retailers. Among these, the duty-free shops segment is anticipated to grow at the highest CAGR of the airport duty-free liquor market during the projected timeframe. Duty-free stores are a popular choice among travelers due to their affordable prices and extensive selection of alcoholic beverages. They let clients buy from the comfort of their homes by providing flexibility and a wider variety of products.
Asia Pacific is expected to hold the largest share of the airport duty-free liquor market over the forecast period.
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Asia Pacific is expected to hold the largest share of the airport duty-free liquor market over the forecast period. Due to the low cost of alcohol at airports, most travelers from developing nations spend money on it. Additional key drivers of market expansion include economic growth in developing nations and increased disposable income. The market continues to be driven by rising travel and tourism in this area as a result of a greater number of millennials who are prepared to spend money on exploration and leisure travel.
Europe is predicted to grow at the fastest pace in the airport duty-free liquor market during the projected timeframe. This is because the attributed expansions of customers demand. The essential cultural connotation with gin is one of the main incentives. The United Kingdom is frequently credited as the origin of modern gin, and the spirit has a rich historical background. Additionally, the UK leads the region in the sale of duty-free liquors from airport shops, contributing to the expansion of the local industry.
Major vendors in the airport duty-free liquor market are Heineken N.V., Diageo plc, Pernod Ricard, REMY COINTREAU, Constellation Brands, Inc., The Brown-Forman Corporation, Rémy Cointreau, Accolade Wines, Edrington, Glen Moray, King Power Group, Brown-Forman, William Grant & Sons Ltd, Bacardi Limited, and others.
Recent Developments
- In September 2024, Avelo Airlines revealed that expanded its 'Wine Travels Free' service to Salt Lake City International Airport. The initiative permits passengers to transport wine for free throughout the western United States.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the airport duty-free liquor market based on the below-mentioned segments:
Global Airport Duty-free Liquor Market, By Product
- Whiskey
- Vodka
- Rum
- Gin
- Wine
- Cognac
- Others
Global Airport Duty-free Liquor Market, By Distribution Channel
- Duty-Free Shops
- Airlines
- Online Retailers
Global Airport Duty-free Liquor Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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