Airport Retailing Market worth USD 51.4 billion by 2030

The Market Statsville Group (MSG) publishes the new report on the "Airport Retailing Market by Product (Perfumes & Cosmetics, Fashion & Accessories, Liquor & Tobacco, Food & Beverages, and Others), by Airport Size (Large Airport, Medium Airport, and Small Airport), by Distribution Channel (Direct Retailer, Convenience Store, Specialty Retailer, and Departmental store), by Region – Global Share and Forecast to 2030".

The global airport retailing market size was USD 19.9 billion in 2021 and is estimated to reach USD 51.4 billion by 2030, registering a CAGR of 12.6% during the forecast period. Airport retailing stores are shops at the departure and arrival lobbies on airports. A variety of shops operate at airports that sell a wide range of products such as perfumes, cosmetics, liquor, fashion, accessories, and electronics. In addition, rise in disposable income, accessibility of luxury products at affordable prices, and an increase in the number of passengers fuel the growth of the airport retailing market. Expansion of the tourism sector, affordable airfares, increase in airport investment to expand retail spaces, and new terminals are expected to witness immense growth in the airport retailing market.

Scope of Global Airport Retailing Market

The overall airport retailing market has been segmented into product, airport size, distribution channel, and region.

• By Product (Liquor & Tobacco, Perfumes & Cosmetics, Fashion & Accessories, Food & Beverages, and Others)
• By Airport Size (Large Airport, Medium Airport, and Small Airport)
• By Distribution Channel (Direct Retailer, Convenience Store, Specialty Retailer, and Departmental store)
• By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)

Large airport segment, by tool type, is estimated to hold the largest market share during the forecast period

By airport size, it is classified into the large airport, medium airport, and small airport. The large airport segment generated the highest revenue of 56.5% of the total global airport retailing market in 2021, and it is projected to register a CAGR of 12.5% from 2022 to 2030. Large airports are majorly those with the annual passenger traffic that is more than 10 million. Such airports are majorly international airports; for instance, Guangzhou Baiyun International Airport (Guangzhou, China), Hartsfield–Jackson Atlanta International Airport (GA, U.S.), Dallas/Fort Worth International Airport (Texas, U.S.), Tokyo Haneda Airport (Japan), Indira Gandhi International Airport (New Delhi, India), Dubai International Airport (Dubai), and Heathrow Airport (London) are some of the busiest international airports in terms of passenger traffic.

Large airports are located in the capital region of countries and are popular holiday destinations. These airports have a considerable number of business-class travelers who notably contribute to selling products through retail travel hubs. On large airports, the spending capacity of travelers is higher than the other airport passengers, as travelers are majorly democrats, business executives, and key executives of countries & companies.

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Asia Pacific accounts for the largest market share in airport retailing market

Based on the regions, the global airport retailing market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, Asia Pacific accounted for the highest market share of 40.7% in the global airport retailing market and was anticipated to maintain its dominance throughout the forecast period. The improved standard of living and rise in disposable income, especially in India and China, are benefitting the retail market. Furthermore, China is the largest importer of cosmetics and apparel, which propels the sales of perfumes & cosmetics in this region. In addition, in India, the changes in lifestyle trends and increase in income level augment the growth of airport retail sales.  

Moreover, expansion of the affordable luxury segment in tier 2 cities of Asia-Pacific boosts the market's growth. An increase in the number of new air routes and the introduction of low-cost carrier (LCC) are the key factors that further promote the development of the Asia-Pacific airport retailing market. Furthermore, a surge in preference for value-added products boosts the desire to travel, which, in turn, increases the demand for duty-free liquor, tobacco, fashion products, cosmetics, and perfumes.

This research report covers an examination of the main companies' development and marketing tactics, as well as an examination of their product portfolios and winning methods in the airport retailing sector. It also consists of the profiles of leading companies such as Dubai Duty-Free, China Duty-Free Group Co., Ltd., King Power International, Airport Retail Group LLC, DFS Group Ltd., Japan Airport Terminal Co., Ltd., the Shilla Duty-Free, Dufry AG, Gebr. Heinemann SE & Co. KG, and Flemingo International. These market players have focused on acquisitions and expansion to gain a larger market share in the airport retailing market.

Browse complete report: https://www.marketstatsville.com/airport-retailing-market

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