Global Travel Retail Market to Peak $145 Billion by 2028

28-12-22

The global travel retail market size is expected to reach USD 145 Billion by 2028, registering a CAGR of 14.9% during the forecast period.

The demand for garments, cosmetics, food, and electronics in the travel retail industry has increased as a result of the growth in travel and tourism. Additionally, the rise in urbanization and changes in lifestyle are significant factors anticipated to fuel the expansion of the travel retail market throughout the course of the forecast year. 

Additionally, improving economic conditions and an increase in middle-class disposable income both significantly contribute to the market's expansion. Additionally, elements like technical developments support the travel retail market expansion. Furthermore, the industry is anticipated to develop as the population of millennials rises.