According to Verified Market Research, the Global Duty-Free Retailing Market was valued at USD 75.16 billion in 2018 and is expected to witness a growth of 6.55% from 20192026 and reach USD 125.16 billion by 2026.
The Centre for Asia-Pacific Aviation sees duty-free spend at Indian airports hitting USD 1.6 billion by 2021 - or ̀ 10,600 crore, which is an eight-fold increase in three years. Of the 17 international airports boasting duty-free outlets, New Delhi's Indira Gandhi International Airport (IGIA), has the country's largest duty-free retail space.
Allied Market Research recently published a report, titled, "Duty-Free Liquor Market by Type (Beer, Wine, Vodka, Cognac, and Whiskey) and Channel (Cruise liners, Airport, Railway Station, Border, downtown, and hotel shops): Global Opportunity Analysis and Industry Forecast, 2019–2026." The report provides a detailed analysis of the market, including key winning strategies, industry drivers & restraints, market size & forecast, top investment pockets, competitive landscape, and wavering market trends. As per the report, the global duty-free liquor industry was estimated at $2.94 billion in 2019 and is anticipated to register $3.74 billion by 2026, registering a CAGR of 9.4% during the forecast period.
Drivers, restraints, and opportunities
Rapid growth in urbanisation, development of the travel & tourism industry, and rise in disposable income fuel the growth of the global duty-free liquor market. On the other hand, stringent government rules for airport retailing restrain the growth to some extent. However, growth in Asia-Pacific and LAMEA economies is expected to create a number of lucrative opportunities for the key players in the industry.
The whiskey segment garnered the lion's share in 2019
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