Luxury tourism is likely to be a major driver of tourism recovery after the pandemic. Demand for travel remains high around the world. Wealthy travellers have big budgets and are able to travel easily and frequently. The luxury market is changing. It is not just about five-star hotels, but also about adventure and experiences. High-quality service, personalisation and flexibility are important characteristics of the luxury tourism market.
Self-drive tourism in Europe requires a lot of hard work and knowledge. To help you prepare CBI provides a Market Potential study with a list of European countries that offer the most opportunities for self-drive tourism and it describes the trends that offer new opportunities. The Market Entry study on this page contains information about buyer requirements and certifications, main market segments and distribution channels as well as information about the competition.
European imports of wooden tableware and kitchenware are growing. This includes imports coming directly from developing countries. This makes Europe an interesting market for you. Mass-producing countries dominate the lower ends of the market, so the mid-end to high-end segments of the trays market offer you the most opportunities. To target these segments, your trays should have decorative as well as functional value. Focus on design, craftsmanship, materials, functionality, sustainability and storytelling.
The European market for teaware is driven by consumers’ love for tea. Europeans consume up to 2 kg of tea per year, per person. European importers often distribute products across the continent, so you should not see individual countries as markets. Instead, you should focus on buyers in a specific segment. ‘On-the-go’ tea drinking requires everyday basics in drinkware. ‘Slow’ tea drinking moments allow for more decorative teaware, in more elaborate sets. This fits in well with sector trends like ‘home sweet home’ and wellness.
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Tea is a popular drink in Europe. This makes Europe an interesting market for teaware. The Irish and British drink the most tea per person. Trends in tea drinking influence the design and marketing of tea sets. Although the European market offers opportunities, competition is strong. Mass-producing countries dominate the lower ends of the market, so the mid-end to high-end segments are your best options.
Artificial intelligence (AI) technologies are in high demand across all sectors of the European market. Recent developments in generative AI have lowered the threshold for using AI software significantly. The most promising markets in Europe are the United Kingdom, the Nordic market, Germany, the Netherlands, France and Estonia. To enter the European market, you must comply with various regulations and additional buyer requirements. Tap into different horizontal and vertical market segments by subcontracting through a European service provider.
Generation X are often referred to as the ‘forgotten generation’ because there is limited research on this population and less knowledge about their likes and dislikes. Gen X have many characteristics that make them an appealing market. There are 165.7 million Gen Xers living in Europe. Many have families, some with children that are starting to leave home, so they want to prioritise family time now. Some Gen Xers have no children and a dual income, others are retiring and have more time for travel.
Europe is a large and stable market for cinnamon exporters. The use of cinnamon in traditional European food and beverages, as well as in product innovation and development, fuels demand. Indonesia, Vietnam and Sri Lanka are the main suppliers of cinnamon to Europe and will be key competitors for new entrants. Unique origins, storytelling and sustainability remain important, but having high levels of product safety, high-quality and diverse ranges will also give you a competitive edge in Europe.
Vanilla is one of the most widely used flavouring agents in the food industry. There is a big opportunity on the European market for suppliers from all countries of origin who can deliver high-quality vanilla at a reasonable price. A special opportunity exists for suppliers who apply sustainable practices. There is no vanilla production in Europe, meaning that it is completely dependent on imports, mainly from Madagascar and Indonesia.
In recent years, Europeans have shown an increased interest in ethnic cuisines, healthier foods and home cooking. This boosts interest in the specific spices used in these cuisines, leading to a higher demand for spices and spice mixes on the European market. However, most large spice importers import single spices and make their own mixes in Europe. This means that the demand for spices mixed at origin remains low.