Press release
Duty-Free Liquor Market 2023-2030 | Global Key Player; Brown-Forman, Diageo, Edrington Bacardi, Heineken, Glen Moray, Accolade Wines, Constellation Brands, Inc., REMY COINTREAU, Pernod
According to a new report published by Allied Market Research, titled, "Duty-Free Liquor Market by Type, and Channel: Opportunity Analysis and Industry Forecast, 2021-2027," the duty-free liquor market size was valued at $13.7 billion in 2019, and is projected to reach $16.1 billion in 2027, registering a CAGR of 11.10% from 2021 to 2027. The duty-free liquor at airport, cruise liners, border, downtown, and hotel 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.
Get Free Sample Copy@ https://www.alliedmarketresearch.com/request-sample/6023
Global Key Players:
Brown-Forman,
Diageo,
Erdington,
Bacardi,
Heineken,
Glen Moray,
Accolade Wines,
Constellation Brands, Inc.,
REMY COINTREAU,
Pernod,
Ricard.
Travel & tourism includes leisure tourism, business tourism, and others. The factors that promote the growth of the travel & tourism industry include changes in lifestyle, rise in tourism promotion, increase in number of passengers and frequent fliers, and others, which in turn are expected to fuel the growth of the market Therefore, these factors are expected to propel the growth of market in the near future.
Asia-Pacific has emerged as one of the largest growing and developing nation. Improvement in economic conditions in the region along with growth in disposable income are the key drivers of the market. Economic increase in several countries in LAMEA boosts the market growth. In addition, an increase in the number of millennial is projected to drive the growth of the duty-free liquor market. Therefore, the untapped regions in Asia-Pacific and LAMEA possess huge growth prospects in the coming years.
North America and Europe is among the most urbanized regions with nearly 81% and 80% urban population respectively. Africa and Asia have comparatively lower urban population shares, with 40% and 48% urban population, respectively. As per the WHO and other organizations, Africa and Asia are the major regions that are expected to witness rapid urbanization trend and are projected to account for 56% and 64% urbanization rate, respectively, by 2050. India and China are the two major countries with increasing urban population and potential market for duty-free liquor.
Based on type, the whiskey segment accounted for the maximum share in 2019, owing to increase in consumer base across the globe. Furthermore, whiskey is considered as a premium product and an indication of taste and sophistication. Furthermore, strong demand for Irish whiskey from the millennial population is providing revenue growth for whiskey segment. In addition, many people buy premium and expensive whiskey from duty-free liquor stores, not for the experience of drinking it, but for the status quo.
Buy Now@ https://www.alliedmarketresearch.com/checkout-final/f4426387d46e6824472456b909cbaf6c
Also, this duty-free liquor market segment is anticipated to grow with the highest CAGR of 12.2% during the forecast period. Depending on channel, the airport category garnered the highest duty-free liquor market share in 2019, due to the continuous growth in global aviation and air traffic. Also, rise in the tourism industry is one of the key factors for the growth of the duty-free liquor market. Furthermore, this segment is anticipated to witness the highest growth rate with a CAGR of 12.0% during the forecast period.
Based on region, Europe accounted for the highest revenue in 2019 owing to the wealthy tourists from the Middle East, China, the U.S., and Russia contributing a significant part in the market. Also, love for travel is experiencing an upward duty-free liquor market trends among Germans, which significantly contributes to the growth of the duty-free liquor market.
However covid-19 has adversely affected the duty free liquor market. People are restricted to stay at their homes to stop the spread of the diseases. Governments have been forced to introduce several restrictions and the international travels & flights are banned. Hence the duty-free liquor market demand has slowed down which hampered the sales of the liquor. 3. It is expected that the market of duty free liquor will improve after worldwide release of the lockdown situation due to COVID-19.
Asia-Pacific duty-free liquor market is anticipated to experience growth with the highest CAGR during the forecast period owing to improvement in living standards and rise in disposable income among consumers. Furthermore, expansion of affordable premium segment of liquor, cosmetics, and other products in tier-2 cities of Asia-Pacific is estimated to drive the market growth in this region.
Key Findings Of The Study
Based on region, European region has the maximum share in duty-free liquor market analysis in 2019.
Based on type, the whiskey category occupied the maximum share in market in 2019.
By channel, the airport category dominated the overall duty-free liquor market growth in 2019, and is expected to dominate the duty-free liquor market forecast.
Request For Customization@ https://www.alliedmarketresearch.com/request-for-customization/6023
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |
Get Free Sample Copy@ https://www.alliedmarketresearch.com/request-sample/6023
Global Key Players:
Brown-Forman,
Diageo,
Erdington,
Bacardi,
Heineken,
Glen Moray,
Accolade Wines,
Constellation Brands, Inc.,
REMY COINTREAU,
Pernod,
Ricard.
Travel & tourism includes leisure tourism, business tourism, and others. The factors that promote the growth of the travel & tourism industry include changes in lifestyle, rise in tourism promotion, increase in number of passengers and frequent fliers, and others, which in turn are expected to fuel the growth of the market Therefore, these factors are expected to propel the growth of market in the near future.
Asia-Pacific has emerged as one of the largest growing and developing nation. Improvement in economic conditions in the region along with growth in disposable income are the key drivers of the market. Economic increase in several countries in LAMEA boosts the market growth. In addition, an increase in the number of millennial is projected to drive the growth of the duty-free liquor market. Therefore, the untapped regions in Asia-Pacific and LAMEA possess huge growth prospects in the coming years.
North America and Europe is among the most urbanized regions with nearly 81% and 80% urban population respectively. Africa and Asia have comparatively lower urban population shares, with 40% and 48% urban population, respectively. As per the WHO and other organizations, Africa and Asia are the major regions that are expected to witness rapid urbanization trend and are projected to account for 56% and 64% urbanization rate, respectively, by 2050. India and China are the two major countries with increasing urban population and potential market for duty-free liquor.
Based on type, the whiskey segment accounted for the maximum share in 2019, owing to increase in consumer base across the globe. Furthermore, whiskey is considered as a premium product and an indication of taste and sophistication. Furthermore, strong demand for Irish whiskey from the millennial population is providing revenue growth for whiskey segment. In addition, many people buy premium and expensive whiskey from duty-free liquor stores, not for the experience of drinking it, but for the status quo.
Buy Now@ https://www.alliedmarketresearch.com/checkout-final/f4426387d46e6824472456b909cbaf6c
Also, this duty-free liquor market segment is anticipated to grow with the highest CAGR of 12.2% during the forecast period. Depending on channel, the airport category garnered the highest duty-free liquor market share in 2019, due to the continuous growth in global aviation and air traffic. Also, rise in the tourism industry is one of the key factors for the growth of the duty-free liquor market. Furthermore, this segment is anticipated to witness the highest growth rate with a CAGR of 12.0% during the forecast period.
Based on region, Europe accounted for the highest revenue in 2019 owing to the wealthy tourists from the Middle East, China, the U.S., and Russia contributing a significant part in the market. Also, love for travel is experiencing an upward duty-free liquor market trends among Germans, which significantly contributes to the growth of the duty-free liquor market.
However covid-19 has adversely affected the duty free liquor market. People are restricted to stay at their homes to stop the spread of the diseases. Governments have been forced to introduce several restrictions and the international travels & flights are banned. Hence the duty-free liquor market demand has slowed down which hampered the sales of the liquor. 3. It is expected that the market of duty free liquor will improve after worldwide release of the lockdown situation due to COVID-19.
Asia-Pacific duty-free liquor market is anticipated to experience growth with the highest CAGR during the forecast period owing to improvement in living standards and rise in disposable income among consumers. Furthermore, expansion of affordable premium segment of liquor, cosmetics, and other products in tier-2 cities of Asia-Pacific is estimated to drive the market growth in this region.
Key Findings Of The Study
Based on region, European region has the maximum share in duty-free liquor market analysis in 2019.
Based on type, the whiskey category occupied the maximum share in market in 2019.
By channel, the airport category dominated the overall duty-free liquor market growth in 2019, and is expected to dominate the duty-free liquor market forecast.
Request For Customization@ https://www.alliedmarketresearch.com/request-for-customization/6023
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
