The travel retail market in North America, specifically in the U.S. and Canada, has witnessed significant growth in recent years. This growth can be attributed to the increasing number of international tourists visiting these countries and the rising demand for duty-free shopping in airports and border crossings.
Asia Pacific:
In the Asia Pacific region, countries such as China, Japan, and South Korea have emerged as key players in the travel retail market. The rapid expansion of air travel and the growing middle-class population in these countries have contributed to the increasing demand for duty-free shopping and luxury goods in airports and other travel hubs.
Europe:
With a strong emphasis on luxury and high-end fashion brands, the travel retail market in Europe, particularly in the United Kingdom, Germany, and France, has continued to thrive. The region's well-established transportation infrastructure and the influx of international tourists have created a lucrative environment for duty-free shopping and retail opportunities.