PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1483677
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1483677
India Travel Retail Market, By Product Type; By Channel; By Region, Trend Analysis, Competitive Landscape & Forecast, 2019-2030
India Travel Retail Market Size Booming at Significant CAGR of about 8% to Surpass Whopping USD 3 Billion by 2030
India Travel Retail Market is flourishing due to the rising disposable income, expanding tourism industry, shifting consumer preferences, and convenience.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India Travel Retail Market size at USD 1.89 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Travel Retail Market size to expand at a CAGR of 7.89% reaching a value of USD 3.03 billion by 2030. The Travel Retail Market in India is propelled by the increasing number of domestic and international travelers. Travel retail involves the sale of various goods and services in locations like airports, cruise ships, and border crossings, offering duty-free shopping opportunities. Also, rising incomes in India enable more spending on travel retail, while improved air connectivity enhances travel convenience. Notably, India's growing reputation as a tourist destination attracts more international visitors, boosting the market further. Changing consumer preferences towards unique and high-quality products also drive increased purchases from travel retail outlets.
Opportunity - Technology integration
In the rapidly evolving landscape of Indian retail, technology integration stands as a cornerstone for success. With an expanding internet user base and increasingly tech-savvy consumers, retailers must embrace digital solutions to meet evolving demands. From online platforms to in-store innovations like augmented reality and smart checkout systems, technology enhances the shopping experience and drives engagement. Moreover, optimizing transportation nodes with digital advancements not only improves efficiency but also opens new avenues for retail growth. In essence, seamless integration of technology is imperative for retailers aiming to thrive in India's dynamic retail market.
Duty-Free Shopping
Amidst the bustling transportation hubs of India, lies a lucrative opportunity for retailers: duty-free shopping. Airports, metros, railways, highways, and bus stations serve as prime locations for offering tax-free goods to travelers. Leveraging the foot traffic and wait time of passengers, retailers can capitalize on the desire for exclusive products and international brands. Duty-free shopping not only enhances the travel experience but also boosts revenue streams for both retailers and transit operators. As India's transportation infrastructure continues to expand, embracing duty-free retail presents a promising avenue for growth and consumer satisfaction.
Impact of Escalating Geopolitical Tensions on India Travel Retail Market
Geopolitical tensions can have a multifaceted impact on the India Travel Retail Market. Uncertainty and security concerns deter international travelers, impacting duty-free sales at airports and other travel retail outlets. Reduced tourist influx affects revenue streams and disrupts supply chains, leading to decreased consumer confidence and spending. Additionally, fluctuations in currency exchange rates and trade restrictions further exacerbate the situation, hindering market growth. To mitigate these challenges, stakeholders must closely monitor geopolitical developments, implement robust security measures, and diversify market strategies to adapt to changing dynamics and sustain resilience in the face of geopolitical uncertainties.
India Travel Retail Market
Segmental Information
India Travel Retail Market - By Channel
Based on channel, the India Travel Retail Market is bifurcated into Down Town & Hotel Shops and Airports segments. The airports segment holds a higher share in the India Travel Retail Market by channel. Rising disposable incomes have led to increased airport traffic, with passenger numbers expected to grow significantly. Airports serve as prime retail spaces, benefiting from captive audiences with considerable spending capacity during wait times. Government initiatives like privatization and schemes to improve regional connectivity further boost the retail potential of airports. Consequently, airports have emerged as dominant players in the travel retail market channel, surpassing other channels in terms of market share.
Competitive Landscape
The India Travel Retail Market is fragmented, with numerous players serving the market. The key players dominating the India Travel Retail Market include Dufry, Delhi Duty Free Services Pvt Ltd, Lotte Duty Free, The Shilla Duty Free, Flemingo Travel Retail, Travel Food Services (TFS) India, Cochin Duty Free, Hyderabad Duty Free, HMY, and Relay India. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the India Travel Retail Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India Travel Retail Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. India Travel Retail Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Rising disposable income
- 3.2.1.2. Expanding tourism industry
- 3.2.1.3. Shifting consumer preferences
- 3.2.1.4. Convenience
- 3.2.2. Restraints
- 3.2.2.1. Economic fluctuations
- 3.2.2.2. High operating costs
- 3.2.3. Opportunities
- 3.2.3.1. Technology integration
- 3.2.3.2. Duty-free shopping
- 3.2.4. Challenges
- 3.2.4.1. Stringent regulations
- 3.2.4.2. E-commerce competition
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. India Travel Retail Market: Marketing Strategies
5. India Travel Retail Market: Pricing Analysis
6. India Travel Retail Market Overview
- 6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Product Type
- 6.2.1.1. Wine & Spirit
- 6.2.1.2. Fashion & Accessories
- 6.2.1.3. Perfume & Cosmetics
- 6.2.2. By Channel
- 6.2.2.1. Down Town & Hotel Shops
- 6.2.2.2. Airports
- 6.2.3. By Region
- 6.2.3.1. North India
- 6.2.3.2. South India
- 6.2.3.3. East India
- 6.2.3.4. West India
- 6.2.1. By Product Type
7. North India Travel Retail Market
- 7.1. Market Size & Forecast, 2019-2030
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Product
- 7.2.2. By Channel
8. South India Travel Retail Market
- 8.1. Market Size & Forecast, 2019-2030
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Product
- 8.2.2. By Channel
9. East India Travel Retail Market
- 9.1. Market Size & Forecast, 2019-2030
- 9.1.1. By Value (USD Million)
- 9.2. Market Share & Forecast
- 9.2.1. By Product
- 9.2.2. By Channel
10. West India Travel Retail Market
- 10.1. Market Size & Forecast, 2019-2030
- 10.1.1. By Value (USD Million)
- 10.2. Market Share & Forecast
- 10.2.1. By Product
- 10.2.2. By Channel
11. Competitive Landscape
- 11.1. List of Key Players and Their Offerings
- 11.2. India Travel Retail Market Company Market Share Analysis, 2023
- 11.3. Competitive Benchmarking, By Operating Parameters
- 11.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
12. Impact of Escalating Geopolitical Tensions on India Travel Retail Market
13. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 13.1. Dufry
- 13.2. Delhi Duty Free Services Pvt Ltd
- 13.3. Lotte Duty Free
- 13.4. The Shilla Duty Free
- 13.5. Flemingo Travel Retail
- 13.6. Travel Food Services (TFS) India
- 13.7. Cochin Duty Free
- 13.8. Hyderabad Duty Free
- 13.9. HMY
- 13.10. Relay India
- 13.11. Other Prominent Players
14. Key Strategic Recommendations
15. Research Methodology
- 15.1. Qualitative Research
- 15.1.1. Primary & Secondary Research
- 15.2. Quantitative Research
- 15.3. Market Breakdown & Data Triangulation
- 15.3.1. Secondary Research
- 15.3.2. Primary Research
- 15.4. Breakdown of Primary Research Respondents, By Country
- 15.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
- Figure 1 India Travel Retail Market Segmentation
- Figure 2 India Travel Retail Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 India Travel Retail Market Size, By Value (USD Million), 2019-2030
- Figure 5 India Travel Retail Market Share, By Product, By Value, 2019-2030
- Figure 6 India Travel Retail Market Share, By Channel, By Value, 2019-2030
- Figure 7 India Travel Retail Market Share, By Region, By Value, 2019-2030
- Figure 8 North India Travel Retail Market Size, By Value (USD Million), 2019-2030
- Figure 9 North India Travel Retail Market Share, By Product, By Value, 2019-2030
- Figure 10 North India Travel Retail Market Share, By Channel, By Value, 2019-2030
- Figure 11 South India Travel Retail Market Size, By Value (USD Million), 2019-2030
- Figure 12 South India Travel Retail Market Share, By Product, By Value, 2019-2030
- Figure 13 South India Travel Retail Market Share, By Channel, By Value, 2019-2030
- Figure 14 East India Travel Retail Market Size, By Value (USD Million), 2019-2030
- Figure 15 East India Travel Retail Market Share, By Product, By Value, 2019-2030
- Figure 16 East India Travel Retail Market Share, By Channel, By Value, 2019-2030
- Figure 17 West India Travel Retail Market Size, By Value (USD Million), 2019-2030
- Figure 18 West India Travel Retail Market Share, By Product, By Value, 2019-2030
- Figure 19 West India Travel Retail Market Share, By Channel, By Value, 2019-2030
List of Tables
- Table 1 India Travel Retail Market Size, By Value (USD Million), 2019-2030
- Table 2 India Travel Retail Market Size, By Product, By Value, 2019-2030
- Table 3 India Travel Retail Market Size, By Channel, By Value, 2019-2030
- Table 4 India Travel Retail Market Size, By Region, By Value, 2019-2030
- Table 5 North India Travel Retail Market Size, By Value (USD Million), 2019-2030
- Table 6 North India Travel Retail Market Size, By Product, By Value, 2019-2030
- Table 7 North India Travel Retail Market Size, By Channel, By Value, 2019-2030
- Table 8 South India Travel Retail Market Size, By Value (USD Million), 2019-2030
- Table 9 South India Travel Retail Market Size, By Product, By Value, 2019-2030
- Table 10 South India Travel Retail Market Size, By Channel, By Value, 2019-2030
- Table 11 East India Travel Retail Market Size, By Value (USD Million), 2019-2030
- Table 12 East India Travel Retail Market Size, By Product, By Value, 2019-2030
- Table 13 East India Travel Retail Market Size, By Channel, By Value, 2019-2030
- Table 14 West India Travel Retail Market Size, By Value (USD Million), 2019-2030
- Table 15 West India Travel Retail Market Size, By Product, By Value, 2019-2030
- Table 16 West India Travel Retail Market Size, By Channel, By Value, 2019-2030
- Table 17 Dufry Company Overview
- Table 18 Dufry Financial Overview
- Table 19 Delhi Duty Free Services Pvt Ltd Company Overview
- Table 20 Delhi Duty Free Services Pvt Ltd Financial Overview
- Table 21 Lotte Duty Free Company Overview
- Table 22 Lotte Duty Free Financial Overview
- Table 23 The Shilla Duty Free Company Overview
- Table 24 The Shilla Duty Free Financial Overview
- Table 25 Flemingo Travel Retail Company Overview
- Table 26 Flemingo Travel Retail Financial Overview
- Table 27 Travel Food Services (TFS) India Company Overview
- Table 28 Travel Food Services (TFS) India Financial Overview
- Table 29 Cochin Duty Free Company Overview
- Table 30 Cochin Duty Free Financial Overview
- Table 31 Hyderabad Duty Free Company Overview
- Table 32 Hyderabad Duty Free Financial Overview
- Table 33 HMY Company Overview
- Table 34 HMY Financial Overview
- Table 35 Relay India Company Overview
- Table 36 Relay India Financial Overview
