“Travel Retail”, in 2031 turnover to $225 billion. 56 billion from “Wine & Spirits”

In 2021, which marked, at least in part, the restart of world tourism, then consolidated in the just-concluded 2022, the sales business in stations, ports, airports and cruises, the so-called “Travel & Retail”, moved just over 50 billion euros in total, 12 of which were represented by the “Wine & Spirits” sector, the second most influential item after cosmetics. Then again, anyone who travels for business or pleasure is almost practically obliged to spend some time wandering the shelves and prices of “duty free” shops in search of bargains or typical and exclusive products. And, with full recovery expected from 2023 onward, despite some small shadows that already seem to be thinning out related to the “China issue” and Covid, things are still bound to improve. So much so that, according to the Research Dive report, total Travel Retail turnover will reach 225 billion in 2031, with an aggregate growth of 16% per year, including 56 billion related to wine and spirits. And Italy, which is a major producer, will certainly play a leading role, as it already does, in the channel with its brands. Like that of Prosecco Gold from Treviso-based winery Bottega, which was elected best product in the wine category of the Global Travel Retail Awards 2022 by “Tr Business”, an industry trade magazine, according to the votes of “shoppers”. With the flagship product of the winery led by Sandro Bottega beating out competition from the other finalists, Segura Viudas Organic Brut and Valdobbiadene Prosecco Docg Brut from Mionetto (of the Henkell & Co Sektkellerei group), and Penfolds Champagne Brut Rosé NV (which the Australian winery of the Treasury Wine Estates group produces in partnership with the Tienot maison).