airport duty-free liquor market 1

Airport Duty-free Liquor Market was pegged at $8.9 Bn in 2019, and is projected to garner $10.4 Bn by 2027, growing at a CAGR of 22.2% from 2021 to 2027.

PORTLAND, OREGON, UNITED STATES, July 15, 2022 /EINPresswire.com/ -- 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.

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

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.

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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.

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