Asia Pacific is projected to gain the largest travel retail market share. The high expenditure on duty-free products by international and domestic travels across countries such as South Korea, India, and China is likely to fuel the growth in Asia Pacific. Furthermore, the growing partnerships between duty-free retailers for business expansion are expected to favor market growth.

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Travel Retail Market Size, Share & Analysis | Forecast [2029]
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Travel Retail Market Size, Share & Analysis | Forecast [2029]

The global travel retail market is projected to grow from $55.74 billion in 2022 to $96.11 billion by 2029, exhibiting a CAGR of 8.1% during the forecast period