According to the latest report by IMARC Group, titled "Airport Retailing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," the study provides a detailed analysis of the industry, including the global airport retailing market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the airport retailing market?
The global airport retailing market size reached US$ 26.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 67.0 Billion by 2032, exhibiting a growth rate (CAGR) of 10.7% during 2024-2032.
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What is Airport Retailing?
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.
What are the growth prospects and trends in the airport retailing industry?
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.
Who are the key players operating in the industry?
The report covers the major market players including:
- 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
- Lagardère Travel Retail (Lagardère Group).
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- Liquor and Tobacco
- Perfumes and Cosmetics
- Fashion and Accessories
- Food and Beverages
- Others
Breakup by Airport Size:
- Large Airport
- Medium Airport
- Small Airport
Breakup by Distribution Channel:
- Direct Retailers
- Convenience Stores
- Specialty Retailers
- Departmental Stores
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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