airport-duty-free-liquor-market-to-reach-$104-bn,-globally,-by-2027-at-22.2%-cagr:-allied-market-research

Airport Duty-free liquor Market to Reach $10.4 Bn, Globally, by 2027 at 22.2% CAGR: Allied Market Research

 

Allied Market Research recently published a report, titled, Airport Duty-free Liquor Market by Type (Whiskey and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027″. As per the report, the global airport duty-free liquor industry was pegged at $8.9 billion in 2019, and is projected to garner $10.4 billion by 2027, growing at a CAGR of 22.2% from 2021 to 2027.

Drivers, restraints, and opportunities

Changes in lifestyle, increase in tourism promotion, and surge in frequent fliers have boosted the growth of the global airport duty-free liquor market. However, strict government rules regarding airport retailing hamper the market growth. On the contrary, surge in disposable income, especially in developing countries is expected to create lucrative opportunities for the market players in the future.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/10457

Covid-19 scenario:

  • Due to the Covid-19 outbreak, several governments imposed complete lockdown and international travel was halted. This affected airport duty-free liquor sales significantly.
  • Moreover, the prolonged lockdown resulted in unsold stock of duty-free liquors and some retailers have found imaginative ways to keep trading.
  • However, as some countries have lifted lockdown regulations, the sales of airport duty-free liquor would rise.

The others segment held the lion’s share

By product, the others segment, which includes beer, wine, vodka, and cognac, held the largest share in 2019, accounting for around 90% of the global airport duty-free liquor market. Moreover, the segment is projected to manifest the highest CAGR of 22.8% during the forecast period, owing to increase in air passenger traffic and rise in female drinkers. The report includes an analysis of the whiskey segment.

Asia-Pacific, followed by Europe and North America, held the largest share

By region, the global airport duty-free liquor market across Asia-Pacific, followed by Europe and North America, dominated in 2019, contributing to more than two-fifths of the market. In addition, the region is expected to register the highest CAGR of 27.3% during the forecast period, due to rise in number of new air routes and advent of LCC carriers.

For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/10457

Major market players

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

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports:

Duty-Free Liquor Market: Global Opportunity Analysis and Industry Forecast 2021–2027

Craft Beer Market: Global Opportunity Analysis and Industry Forecast 2018–2025

Luxury Wines and Spirits Market: Global Opportunity Analysis and Industry Forecast 2020–2027

India Pale Ale Market: Global Opportunity Analysis and Industry Forecast 2018–2025

Leave a Reply

Your email address will not be published. Required fields are marked *