The Supplements and Infant Milk Formula for Travel Retail Market Size was $2,564.0 million in 2022 and is expected to reach $8,448.7 million by 2032, registering a CAGR of 9.5% from 2023 to 2032.
The market of travel retail products is growing rapidly with opportunities for savvy businesses globally. Notably, the dissemination of health and nutrition education is a driving force behind the market growth, empowering consumers to make informed choices. Companies can diversify their product portfolio to cater to the specific dietary and health requirements of travelers, capitalizing on the niche market segments.
The market for Supplements and Infant Milk Formula Travel Retail, operates within travel hubs such as airports and international destinations. The market caters to the requirements of health-conscious travelers seeking to ensure their infants receive proper nutrition during the journey. It offers a diverse array of products, including vitamins, minerals, probiotics, and specialized infant formula, tailored to the specific demands of travelers. Market expansion is propelled by factors such as health and wellness trends, ease of access, a surge in international travel, and the establishment of well-equipped retail outlets within travel hubs. This sector presents business opportunities to fulfill the essential health and nutritional needs of a diverse and mobile consumer base.
The demographics of travelers are a major factor in the expansion of the travel retail market for supplements and infant formula in the global marketplace. Furthermore, the ageing population and a rise in the number of parents travelling with their babies on vacation are few of the other important factors propelling the demand for supplements and infant milk formula in travel retails. Older travelers frequently need dietary supplements for their health and wellbeing during travel, which also increases demand.g
In addition, the presence of families with infants leads to a higher demand for infant milk formula. Understanding the age and composition of travelers passing through airports allows retailers to tailor their product offerings to meet the specific needs of these demographics. Targeted marketing strategies, promotions, and product placement can cater to these traveler segments, further stimulating sales. Thus, traveler demographics influence product preferences and purchase behavior, making it essential for businesses in this market to align their offerings with the evolving profiles of travelers.
Vitamin and mineral supplements are significant drivers of the travel retail market for supplements and infant milk formula. Travelers often prioritize their health, especially during long journeys, and supplements offer a convenient solution to meet their nutritional needs. The availability of a wide range of vitamin and mineral supplements in airport shops caters to various traveler preferences and dietary requirements. Travelers may opt for immune-boosting supplements to stay healthy during travel or combat jet lag.
In addition, the growing health and wellness trend encourages travelers to purchase supplements as a proactive measure. Travelers are seeking unique dietary and health needs while on the road, and vitamin and mineral supplements such as
Cenovis Multivitamin, Abidec Multivitamin Drops, and others are becoming more popular products to meet this demand in the travel retails. The growth of travel retail in the vitamin and mineral supplements market is driven by couple of factors such as health-consciousness, convenience, and marketing efforts by retailers to cater to the unique requirements of travelers. Thus, the Supplements and Infant Milk Formula for Travel Retail Market growth in demand for vitamin and supplements propel the overall travel retail vitamins for supplement products.
Furthermore, Regulatory compliance and labeling requirements act as significant restraints for the growth of the travel retail products market for supplements and infant milk formula. These stringent regulations vary from one country to another, adding complexity and cost to the manufacturing and distribution process. Suppliers must adhere to a multitude of standards related to product safety, ingredient disclosure, and labeling accuracy.
Regulatory bodies often impose strict requirements for labeling, including the need for proper labeling, detailed ingredient lists, nutrition facts, and allergen warnings. This can also add significant costs to product packaging and may prevent some smaller travel retail companies from entering the market due to the costs and investments. Thus, the factors related to regulations and labelling of supplements and infant milk formula products are impeding the market growth.
Competitive pricing presents a compelling opportunity in the travel retail products market for supplements and infant milk formula. Travelers are increasingly price-conscious, and the allure of obtaining high-quality supplements and infant milk formula at reduced prices compared to standard retail stores can attract consumers to buy products. Shops, often situated within airports and travel hubs, allowing them to offer competitive pricing to the travelers. The cost savings, combined with the convenience of purchasing essential products such as supplements and infant milk formula during travel, entices travelers to make impulse purchases.
The concept also facilitates bulk buying of nutritional products including infant milk formula and supple, catering to travelers' needs for longer trips. By providing a cost-effective option and appealing to budget-savvy consumers, competitive pricing elevates the attractiveness of travel retail locations, positioning them as prime destinations for obtaining supplements and infant milk formula, thereby boosting market growth and profitability.
By category, the market is classified into supplement and infant milk formula. The supplements segment accounted for a major share in the travel retail products market for supplements and infant milk formula market in 2022 and is expected to grow at a significant CAGR during the forecast period. By supplement, the market is classified into child and adult. By child, the market is classified into vitamin supplements, protein supplements, vegan supplements, biotin supplements, probiotic supplements, and others. By adult, the market is classified into vitamin supplements, protein supplements, vegan supplements, biotin supplements, and others.
By Category
Supplement segment would witness the fastest growth, registering a CAGR of 9.20% during the forecast period, as travelers are becoming increasingly health-conscious, seeking for specialty health products that can offer health benefits such as immunity-boosting and stamina booster products.
By region, the market is analyzed across China, Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, India, South Korea, Australia, and Rest of Asia-Pacific), and US. Europe region accounted for a major share in the travel retail products market for supplements and infant milk formula market in 2022 and is expected to grow at a significant CAGR of 8.9% during the forecast period.
By Region
China would witness the fastest growth, registering a CAGR of 10.5% during the forecast period, owing to the increasing intenational travelers in the city.
The key companied analyzed in the report are Adani One, Dufry Ag, King Power International Co., Ltd, Lotte Corporation, Lvmh, Nestle S.A., The Shilla Duty Free, Wh Smith, Shinsegae Duty Free, And Walgreens Boots Alliance, Inc.
Key Benefits For Stakeholders
- This report provides an extensive analysis of the current Supplements and Infant Milk Formula for Travel Retail Market trends and emerging estimations & dynamics of the Supplements and Infant Milk Formula for Travel Retail Market from 2022 to 2032, in terms of value.
- Detailed analysis of the market by category helps to understand the different varieties of products that are currently in use, and the variants that are expected to gain prominence in the future.
- The Porter’s five forces Supplements and Infant Milk Formula for Travel Retail Market analysis highlights the potency of buyers and suppliers to offer a competitive advantage to stakeholders to make profit-oriented business decisions and help strengthen their supplier & buyer network.
- Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
- Supplements and Infant Milk Formula for Travel Retail Market share for all segments with respect to each country is detailed in the report, which helps understand the trends in the Supplements and Infant Milk Formula Travel Retail industry.
Supplements and Infant Milk Formula for Travel Retail Market Report Highlights
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Analyst Review
According to the insights of the CXOs, the global travel retail market for supplements and infant milk formula market is expected to witness robust growth during the forecast period. This is attributed to traveler demographics. Traveler demographics play a crucial role in driving the growth of the travel retail market for supplements and infant milk formula. An aging population and an increase in the number of families traveling with infants are significant factors to augment the growth of travel retail market for supplements and infant milk formula. Older travelers often seek dietary supplements for health and well-being, contributing to the demand for supplements in travel retail.
CXOs further added on-the-go baby food is creating opportunities in the travel retail market by offering innovative infant milk formula packaging to the travelers. Convenience and accessibility serve as significant opportunities in the Supplements and Infant Milk Formula for Travel Retail Market. Travelers value the ease of purchasing essential health products, such as supplements and infant milk formula, at airports and travel hubs, eliminating the need to carry these items from home.
The travel retail products market for supplements and infant milk formula was $2,564.0 million in 2022 and is expected to reach 8,448.7 million by 2032, registering a CAGR of 9.5% from 2023 to 2032.
The forecast period in the market report would be 2023-2032.
The market value of Travel Retail Market For Supplements and Infant Milk Formula in 2022 is $2,564.0 million.
The year 2022 is base year calculated in the Travel Retail Market For Supplements and Infant Milk Formula report.
The travel retail products market for supplements and infant milk formula is mostly driven by health and nutrition education.
The key companied analyzed in the report are Adani One, Dufry Ag, King Power International Co., Ltd, Lotte Corporation, Lvmh, Nestle S.A., The Shilla Duty Free, Wh Smith, Shinsegae Duty Free, And Walgreens Boots Alliance, Inc.
Supplement segment will dominate the market by the end of 2032.
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