Airport Retailing Market Growth Outlook: Trends, Market Size, and Opportunities Over the Next Decade
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Drivers Are Shaping the Growth and Development of theAirport Retailing Market?
The rise in air passenger traffic is predicted to drive the expansion of airport retailing in the future. The term air passenger traffic is used to describe the quantity and movement of passengers who fly within a certain time frame. The increase in air passenger traffic can be attributed to the advancement in tourism, better air linkage, and social and infrastructural aspects. Airport retailing plays a crucial role in increasing air passenger traffic by enhancing the overall journey experience, creating extra revenue, and adding to the appeal of airports for both passengers and airlines. For example, the Bureau of Transport and Statistics (BTS), an independent statistical agency based in the U.S., reported in March 2023 that in 2022, there was a 30% annual increase in the number of passengers for U.S. airlines, with a total of 194 million more passengers than in 2021. Moreover, the total passengers of U.S. airlines from January to December reached 853 million, up from 658 million in 2021, and 388 million in 2020. Hence, the escalation in passenger traffic is fueling the growth of the airport retailing sector.
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#What is the Projected CAGR for the Airport Retailing Market Size from 2025 to 2034?
The size of the airport retailing market has seen significant expansion in recent times. The market is expected to escalate from $29.28 billion in 2024 to $32.77 billion in 2025, recording a compound annual growth rate (CAGR) of 11.9%. This growth in the previous period may be credited to an upsurge in passenger numbers, a rise in disposable income, expansion of travel retail brands, proliferation of low-cost airlines, and increasing urbanization.
Anticipations show a swift escalation in the airport retailing market size in the forthcoming years. The market is forecasted to expand to $50.76 billion by 2029, with a compound annual growth rate (CAGR) of 11.6%. Reasons contributing to this growth during the forecast period include evolving customer tastes, the development and improvement of airport facilities, the upsurge in luxury and premium goods demand, the rise in duty-free shopping incentives, and growth in tourism. Foreseen trends for this period involve technological progress, partnerships with airlines and loyalty schemes, sophisticated analytics, novel retail notions, and breakthrough omnichannel strategies.
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Which Cutting-Edge Market Trends Are Expected to Drive theAirport Retailing Market’s Growth?
Leading firms in the airport retailing market are prioritizing the creation of novel travel retail concepts to enrich the passenger journey and grab a larger portion of the expanding global travel retail market. The fresh travel retail idea introduces visionary strategies aimed at enhancing shopping and dining experiences for travelers at airports, train stations, and other travel interfacing points. This focuses on incorporating technology, customization, handiness, and a flawless fusion of physical and virtual retail spaces to address the changing demands and tastes of contemporary passengers. For instance, Chalhoub Group, a company based in the United Arab Emirates (UAE), rolled out The Visitor, an inventive travel retail concept, in November 2023. This groundbreaking concept is meant to amplify the travel experience and meet the needs of the burgeoning youthful globetrotters. The concept shop aims to present travelers with an atmospheric and interactive shopping experience.
What Are the Leading Market Players Impacting theAirport Retailing Market’s Growth Trend?
Major companies operating in the airport retailing market are Dufry AG, Lagardère Travel Retail Group, Gebr. Heinemann SE & Co. KG, SSP Group PLC, HMSHost Corporation, Duty Free Americas Inc., Dubai Duty-Free, Nuance Group, Japan Airport Terminal Co. Ltd., Paradies Lagardère, WH Smith PLC, DFS Group Limited, Lotte Duty Free, Hudson Group, InMotion Entertainment Group LLC, Flemingo International, Airport Retail Group LLC, Aer Rianta International (ARI), King Power International, The Shilla Duty Free, Autogrill S.p.A., Aelia Duty Free
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How Are the Key Segments of the Airport Retailing Market Driving Opportunities and Innovations?
The airport retailing market covered in this report is segmented –
1) By Product: Liquor And Tobacco, Perfumes And Cosmetics, Fashion And Accessories, Food And Beverages, Other Products
2) By Services: Currency Exchange, Travel Agencies, Car Rentals, Duty-Free Pre-Order
3) By Airport Size: Large Airport, Medium Airport, Small Airport
4) By Store Location: Pre-Security (Landside), Post-Security (Airside)
5) By Distribution Channel: Direct Retailer, Convenience Store, Specialty Retailer, Departmental store
Subsegments:
1) By Liquor And Tobacco: Alcoholic Beverages (Whiskey, Wine, Etc.), Cigarettes And Cigars, Duty-Free Alcohol And Tobacco
2) By Perfumes And Cosmetics: Fragrances (Men’s And Women’s), Skincare Products, Hair Care Products, Makeup And Cosmetics
3) By Fashion And Accessories: Clothing (Men’s, Women’s, Children’s), Bags And Luggage, Jewelry And Watches, Sunglasses And Eyewear
4) By Food And Beverages: Packaged Snacks And Confectionery, Fresh Food (Sandwiches, Salads, Etc.), Beverages (Non-Alcoholic, Soft Drinks, Etc.), Specialty Foods (Local And International Cuisines)
5) By Other Products: Electronics And Gadgets, Souvenirs And Travel Essentials, Books And Magazines, Health And Wellness Products
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What Regions Are At the Forefront of #What Drivers Are Shaping the Growth and Development of theAirport Retailing Market?# Market Expansion?
Asia-Pacific was the largest region in the airport retailing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the airport retailing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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