According to the latest report by IMARC Group, titled "Airport Retailing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global airport retailing market reached a value of US$ 20.1 Billion in 2021. Airport retailing refers to the retail services provided to travelers inside the airport. These retail services are located in central areas with high passenger flow to attract more customers. It offers various products, such as perfumes, cosmetics, personal care products, fashion, accessories, and food and beverages. It has become one of the crucial techniques for businesses to promote and raise brand awareness at airports. These products, including alcohol, tobacco, perfumes, clothing, and electronics, are widely purchased by tourists traveling domestically and internationally.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Airport Retailing Market Trends:
The global market is majorly driven by the inflating disposable income levels of air travelers. In line with this, the increasing budget of the aviation industry is positively influencing the market. Furthermore, some retailers and operators are adopting online services and omnichannel strategies to target time-conscious millennial travelers to expand their e-commerce presence and benefit from rising demand for online duty-free purchases, thus catalyzing the market. Apart from this, the development of new and existing airports is expected to offer numerous opportunities for the airport retailing market. Moreover, the widespread accessibility of transportation facilities and escalating tourism promotion are propelling the market. Besides, significant growth in the travel and tourism industry and the rising time spent by travelers due to early check-in are strengthening the demand for airport retailing worldwide. Additionally, the changing lifestyle preferences of the consumers and the enhanced affordability of the products are providing a boost to the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 41.6 Billion by 2027, exhibiting a CAGR of 10.06% during 2022-2027.
- On the basis of the product, the market has been segmented into liquor and tobacco, perfumes and cosmetics, fashion and accessories, food and beverages, and others.
- Based on the airport size, the market has been categorized into large, medium, and small airports.
- On the basis of the distribution channel, the market has been classified into direct retailers, convenience stores, speciality retailers, and departmental stores.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include Airport Retail Group LLC, Autogrill S.p.A., China Duty Free Group Co. Ltd. (China International Travel Service Co. Ltd.), DFS Group Ltd. (LVMH Moët Hennessy Louis Vuitton), Dubai Duty Free, Dufry AG, Duty Free Americas Inc., Flemingo International Ltd., Gebr. Heinemann SE & Co. KG, Japan Airport Terminal Co. Ltd., KING POWER International and Lagardère Travel Retail (Lagardère Group).
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