Airport Duty-free Liquor Market

Airport Duty-free Liquor Market - An Overview

The global airport duty-free liquor market is expected to witness strong growth during the forecast period between 2021 and 2031.

Airports have witnessed increased sales of duty-free liquor for many years. Availability of alcohol products excluding taxes at airports has led to increased product demand from consumers.

COVID-19 pandemic negatively impacted growth in global airport duty-free liquor market. Rising cases worldwide led to governments imposing stringent social distancing regulations and lockdowns in a bid to contain the spread of the virus.

As a result, flights between countries were canceled and as a result, number of travelers reduced significantly. This led to decreased demand for airport duty-free liquor and in turn, led to reduced market growth.

However, with most population sections vaccinated twice and approval given to the use of third precautionary booster dose, it is expected that flights will resume operations soon leading to increased sales of airport duty-free liquor products which could fuel market growth.

Airport Duty-free Liquor Market - Trends and Opportunities

Increasing consumer demand for flavored beers is the key growth driver of global airport duty-free liquor market.

Key reason behind increased demand is these products have helped in keeping the digestive systems healthy.

Also, rising consumer demand for liquor products in small quantities is anticipated to fuel the growth in overall airport duty-free liquor market, in the coming years.

In addition to this, surge in demand for artisanal spirit products is projected to augment the growth in overall airport duty-free liquor market, in the years ahead.

Government regulations supporting the sales of duty-free alcohol at airports is projected to stimulate the growth in overall airport duty-free liquor market, in future.

Rising disposable income and rapid urbanization, especially in developing economies are also expected to help create revenue-generating opportunities for prominent players in overall market, in years to come.

Whiskey type segment is expected to emerge as largest revenue contributor to overall market in future because of increasing demand for premium whiskey products in prominent countries worldwide.

Airport Duty-free Liquor Market - Competitive Landscape

Competition in global airport duty-free liquor market is intense because of increased presence of leading market players. It is anticipated that prominent airport duty-free liquor market players will continue to account for a large share in overall market, in future.

Well-established market players could adopt growth strategies such as new product launches which could help create revenue-generating opportunities and assist in gaining a competitive edge over other players.

Research and development activities could be key, revenue-generating growth strategy for leading players in overall airport duty-free liquor market players, in future.

Some of the prominent players in global airport duty-free liquor market include Diageo, Bacardi, Heineken, Constellation Brands Inc., and Pernord Ricard.

Airport Duty-free Liquor Market - Regional Assessment

The global airport duty-free liquor market is classified into five regions, namely, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Asia Pacific is expected to emerge as most lucrative region in global airport duty-free liquor market in future because of increasing demand for liquor at airports owing to their availability at reduced prices in countries such as India and China.

Europe is anticipated to witness significant growth in overall airport duty-free liquor market due to rising demand for premium liquor products in developed economies such as the U.K and Germany.

North America is expected to witness moderate growth in global market in future owing to reduced presence of well-established market players in countries such as the U.S and Canada.

Other regions of the world such as Latin America and Middle East and Africa are expected to witness sluggish growth in global airport duty-free liquor market, in the coming years.