Chemical Research

  Duty free retailing refer to the sale of goods to travellers without payment of certain local or national taxes and duties. Duty free goods are sold in travel retail stores that are located within secure zones such as airports and ships. Common duty free products include perfumery and cosmetic products, wine and spirits, tobacco goods and fashion accessories. The global travel retail industry has witnessed increased air passenger traffic in recent years, thereby fuelling demand for duty free goods. With rising disposable incomes and globalization, international travel is gaining prominence which is expected to drive further growth of the travel retailing sector. The global Duty Free Retailing Market is estimated to be valued at US$ 38.95 Bn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The continued growth of the global travel retail industry remains...

  Duty free retailing involves the selling of goods to travelers without charging certain taxes and duties at the time of purchase. Such shops are commonly located within airport terminals and on cruise ships, and sell items such as perfumes, watches, cosmetics, tobacco, spirits, and confectionery. Duty free shops offer products at discounted rates due to the lack of taxes. They are very convenient for travelers who can purchase sought-after products during transit. The global Duty Free Retailing Market is estimated to be valued at US$ 38.95 Bn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The growing air passenger traffic across the globe has been a key driver for the duty free retailing market. According to the International Air Transport Association (IATA), the number of air passengers worldwide increased from 3.97 billion in 2016 to 4.54 billion in...