Global Duty-Free Liquor Market Report and Forecast 2024-2032

Global Duty-Free Liquor Market Outlook

The global duty-free liquor market size reached a value of around USD 17.59 billion in 2023. The market is further expected to grow at a CAGR of 11.2% between 2024 and 2032, reaching a value of around USD 45.88 billion by 2032.

Key Trends in the Market

Duty-free liquor is defined as liquor that is exempt from paying national taxes and tariffs, as well as other specific local levies. This type of liquor is commonly sold in travel and tourism related locations, such as airports. People also purchase liquor from duty-free shops to spend their extra foreign currency before returning to their home nation.

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• The growth of the duty-free liquor market is being driven by factors such as rapid urbanisation, the expansion of the travel and tourism sector, an increase in disposable income, and increasing demand and consumption of alcohol.

• Rising number of air travellers, increasing awareness of duty-free liquor, and changes in lifestyle are further supporting the market for duty-free liquor. Growing popularity of airport lounges, bars, and restaurants are also increasing the sales of duty-free liquor.

• Duty-free shops sell alcohol for less money than conventional stores, thus, customers frequently purchase liquor from them at airports, train stations, cruise ships, and other locations. The sales of duty-free liquor is being boosted by the rising demand for beer, wine, and black spirits.

Global Duty-Free Liquor Market Analysis

Based on type, the market is divided into beer, wine, vodka, and whiskey. On the basis of channel, the market is segmented into cruise liners, airport, and railway station, among others. The regional markets for duty-free liquor are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global duty-free liquor market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Dufry AG

• DFS Group Ltd.

• Lotte Hotel Co., Ltd. (Lotte Duty Free)

• Flemingo International

• Gebr. Heinemann SE & Co. KG

• King Power Group

• Duty Free Americas Inc.

• Delhi Duty Free Services Pvt. Ltd.

• Others

Global Duty-Free Liquor Market Share by Type

The whiskey segment by type is anticipated to rise significantly in the market for duty-free liquor due to a growing global consumer base as premium whiskey becomes increasingly popular in numerous countries. Whiskey is considered to be relatively expensive, particularly for high quality whiskey, and consumers are also favouring premium whisky brands due to the quality and reputation of these brands. With the high costs of whiskey in general liquor outlets, there is greater demand to purchase whiskey as duty-free liquor.

Global Duty-Free Liquor Market Share by Region

At a regional level, Europe accounts for a sizable share of the market for duty-free liquor, fuelled by a thriving tourism sector and cultural preference for alcohol consumption. Tourists from various nations actively visit Europe, and often purchase duty-free liquor for local consumption and to take back home. Within Europe, countries such as Germany are increasing the demand for duty-free liquor, further supporting the growth of the regional market.

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Competitive Landscape

Dufry AG, a travel retail company, was established in 1865 and has its headquarters in Basel, Switzerland. The company operates more than 2300 duty-free and duty-paid stores in seaports, airports, cruise ships, and other popular tourist destinations.

DFS Group Ltd., founded in 1960 with headquarters in Kowloon, Hong Kong, is a pioneer in the world of luxury travel retail. The company's retail locations sell high-end brands of clothing, jewellery, spirits, cigarettes, cosmetics, and other items.

Delhi Duty Free Services Pvt. Ltd. was established in 2010 and is headquartered in Delhi in India. The company manages and runs duty-free shops, selling items such as laptop bags, cosmetics, chocolates, alcohol, and candy.

Other market players include Lotte Hotel Co., Ltd. (Lotte Duty Free), Flemingo International, Gebr. Heinemann SE & Co. KG, King Power Group, and Duty Free Americas Inc., among others.

Key Highlights of the Report