Airport Retailing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Airport Retailing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global airport retailing market size reached US$ 23.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 46.6 Billion by 2028, exhibiting a growth rate (CAGR) of 12.17% during 2022-2028.

Airport retailing includes services like hotels, nursing homes, car rental outlets, exchange offices, banks, and drugstores. It also comprises books and magazines, gifts and crafts, jewelry, clothing and accessories, optics, and souvenirs stores. Besides this, it assists in providing convenience to people traveling by delivering a variety of merchandise. As it also aids in generating brand awareness, airport retailing is finding extensive application in airports across the globe.

Airport Retailing Market Trends:
The flourishing travel and tourism industry on account of rising bleisure travel represents one of the key factors strengthening the growth of the market. Apart from this, a significant increase in the time spent by passengers at airports due to early check-in times for security and operational concerns has positively influenced the demand for airport retailing worldwide. This can also be attributed to the surging disposable incomes and changing lifestyles of individuals around the world. Furthermore, as retail stores at airports are duty-free, which is exempted payment of local or national taxes, they allow travelers to purchase available products at a relatively cheaper rate. This, in confluence with numerous initiates undertaken by brands to customize their offering and improve the overall shopping experience of travelers, is creating a favorable market outlook. Moreover, brands are engaging in extensive research activities to collect data related to location, flight schedules, and the number of passengers in the flight. These activities assist brands in keeping check of warehouses, adopting price skimming strategies, and conducting promotional activities to meet the preferences of the customer base. Additionally, the market is projected to impel on account of the rising trend of bringing souvenirs while traveling.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global airport retailing market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, airport size and distribution channel.

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
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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).

Key Questions Answered in This Report:
How has the global airport retailing market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global airport retailing market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the airport size?
What is the breakup of the market based on the distribution channel?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global airport retailing market and who are the key players?
What is the degree of competition in the industry?