openPR Logo
Press release

Airport Retailing Market is Expected Grow At a CAGR of 12.6% During 2021-2027, Current Trends and Growth Drivers Along with Key Industry Players

12-02-2022 03:02 PM CET | Logistics & Transport

Press release from: Allied Market Research

Airport Retailing Market

Airport Retailing Market

Allied Market Research published a new report, titled, "Airport Retailing Market by Product Type, Airport Size, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2027". The global airport retailing market size was valued at $27,552.8 million in 2019, and is expected grow at a CAGR of 12.6% during 2021-2027 to reach 40,592.8 million in 2027.

Access Full Summary:

Request The Free Sample PDF Of This Report @https://www.alliedmarketresearch.com/request-sample/8307

Rise in inclination of people toward unique and exotic holiday experiences, surge in the income of middle- & upper-class people, and growing interest of people to spend more money on shopping fuel the growth of the global airport retailing market. On the other hand, stringent government regulations impede the growth to some extent. Nevertheless, upsurge in the tourism sector, affordable airfares, increased airport investment to expand retail spaces, and the introduction of new terminals are expected to create lucrative opportunities in the industry.

Airport retailing has grown in popularity in recent years. Often referred to as travel retail (because it takes place mostly but not entirely in an airport), it has emerged as an important strategy for companies looking to promote and raise awareness about their brand. Airports with low airfares are unable to generate significant revenue from aeronautical business. As a result, they have transitioned their business into non-aeronautical businesses such as retail stores, restaurants, bars, and cafeterias. Airport retailing can also include hotels, nursing homes, car rental outlets, banks, exchange offices, drugstores, and other stores selling jewelry, books and magazines, gifts and crafts, clothing and accessories, convenience stores, optics, Fragrance and Perfume.

Based on product type, the perfumes and cosmetics segment accounted for nearly two-fifths of the global airport retailing market share in 2019, and is expected to rule the roost by the end of 2027. The same segment would also register the fastest CAGR of 13.7% from 2021 to 2027. Improvement in lifestyle along with increase in affluent population drives the segment growth.

The airport retailing market is being driven by an increase in the number of passengers, particularly in countries with a high level of public transportation, such as India and China. The airport retailing market is also being boosted by travelers' desire to shop on the go and retailers' growing ability to sell products. Passengers' time spent at airports has also increased as a result of airlines' early check-in times set due to security and operational concerns. This has given retailers the ability to sell products more efficiently.

Based on airport size, the large airport segment contributed to nearly three-fifths of the global airport retailing market revenue in 2019, and is anticipated to lead the trail by 2027. Large airports are located at the capital region of countries and are popular holiday destinations. These airports have a considerable number of business class travelers who notably contribute toward the sale of products through travel retail hubs. These factors propel the segment growth.

Region, Asia-Pacific, followed by Europe and North America, held the major share in 2019, garnering nearly two-fifths of the global airport retailing market. The same region would also cite the fastest CAGR of 13.7% from 2021 to 2027. This is due to increase in number of new air routes and the introduction of low cost carrier (LCC) in the province.

The global market is fragmented with the presence of several market participants across various regions such as Airport Retail Group LLC, Dubai Duty Free, Dufry AG, DFS Group Ltd, King Power International, The Shilla Duty Free, China Duty Free Group Co., Ltd, Gebr. Heinemann SE & Co. KG, Japan Airport Terminal Co., Ltd, and Flemingo International.

Key Findings Of The Study:

○ The liquor & tobacco segment is expected to grow at a CAGR of 12.0% during the forecast period.
○ The perfumes & cosmetics segment is anticipated to dominate the airport retailing market growth, registering a CAGR of 13.7%
○ The large airport segment is projected to garner the highest airport retailing market share of around 57% by 2027, registering a CAGR of 12.5%.
○ The specialty retailer segment is anticipated to dominate the global airport retailing market with a CAGR of 13.2%.
○ The direct retailer segment is estimated to grow at a CAGR of 13.8% during the forecast period.

Need a Discount? Getting Exclusive Discount And Free Consultation @https://www.alliedmarketresearch.com/purchase-enquiry/8307

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Airport Retailing Market is Expected Grow At a CAGR of 12.6% During 2021-2027, Current Trends and Growth Drivers Along with Key Industry Players here

News-ID: 2832860 • Views: 414

More Releases from Allied Market Research

"Budget 2023 -2024" What are lab-grown diamonds, mentioned by FM Nirmala Sithara …
According to a new report published by Allied Market Research, titled, "Lab Grown Diamonds Market by Manufacturing Method, Size, Nature, and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030," the global lab grown diamonds market size was valued at $19.3 billion in 2020, and is projected reach $49.9 billion by 2030, registering a CAGR of 9.4% from 2021 to 2030. Diamonds are heavily used in the industrial sector and mechanical engineering
How Millennials Are Disrupting Forensics Technology?
Allied Market Research recently said the global Forensic Technology Market was estimated at $15.2 Billion in 2020 and is expected to reach $44.3 Billion by 2030, registering a CAGR of 11.2% from 2021 to 2030. The report provides an in-depth analysis of the major pockets investment, the ultimate winning strategy, drivers and opportunities, market size and strategy, competitive landscape and various market trends. ♦ 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/2369 𝗖𝗢𝗩𝗜𝗗-𝟭𝟵 𝗜𝗺𝗽𝗮𝗰𝘁
The Fascinating Science of Medical Electrodes: You Never Read It Before
Allied Market Research recently said "Medical Electrodes Market by Product Type (Surface Electrodes, Needle Electrodes), By Application (Cardiology, Neurophysiology, Electrosurgery, Intraoperative Monitoring (IOM), Sleep Studies), By Modality (Electrocardiography (ECG), Electroencephalography (EEG), Electromyography (EMG), Braintem Auditory Evoked Potentials (BAEPs), Others: Global Opportunity Analysis and Industry Forecast, 2021-2031." According to a report published by Allied Market Research, the global Medical Electrodes industry is projected to 1 .7 billion in 2021 and is
Protein A Resins Market to 2030 : The protein A resins industry is growing rapid …
Protein A resins are a type of chromatography resin commonly used in the biopharmaceutical industry for purifying monoclonal antibodies. They work by binding specifically to the Fc region of antibodies, making them an effective tool for capturing and purifying these proteins. The protein A resins industry is part of the larger biopharmaceutical manufacturing market and has seen significant growth in recent years due to the increasing demand for monoclonal antibodies

All 5 Releases


More Releases for Airport

Duty-free Shopping Market May Set New Growth Story | Dubai International Airport …
Latest survey on Global Duty-free Shopping Market is conducted to provide hidden gems performance analysis of Duty-free Shopping to better demonstrate competitive environment . The study is a mix of quantitative market stats and qualitative analytical information to uncover market size revenue breakdown by key business segments and end use applications. The report bridges the historical data from 2015 to 2020 and forecasted till 2026*, the outbreak of latest scenario
Airport Market to See Strong Investment Opportunity | Ciudad Juárez Internation …
The “ Airport - Market Development Scenario ” Study has been added to HTF MI database. The study covers in-depth overview, description about the Product, Industry Scope and elaborates market outlook and growth status to 2027. At present, the market is developing its presence following current economic slowdown and its Impact. Some of the key players considered in the study are Ciudad Juárez International Airport, Mérida International Airport, Mexico City
Duty-free Shopping Market Projections Highlighting Primary Trends until 2027-Dub …
Duty-free Shopping Market 2021-2027 Financial Insights, Business Growth Strategies with Competitive Landscape The Duty-free Shopping Market Research study published by MarketInsightsReports, entitled Global Duty-free Shopping Market Growth 2021-2027 consists of the market share, size, segmentation, and current trends. The study also contains the numerical research of the global Duty-free Shopping market on a global level and offers planning and designing statistics to boost business development. The report author has included key competitive landscape (upcoming identifiers)
Airport IT Spending Market is Booming Worldwide| RESA AIRPORT DATA SYSTEMS, Rock …
HTF MI recently introduced Global Airport IT Spending Market study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2023. The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence and some of the key players from the complete study are Amadeus IT Group, RESA AIRPORT DATA SYSTEMS, Rockwell Collins, SITA
Aerotropolis Market Report 2018: Segmentation by Airport Type (greenfield airpor …
Global Aerotropolis market research report provides company profile for Skanska, Turner Construction, Walsh Group, Austin Industries, HENSEL PHELPS and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also provides detailed segmentation on
Global Airport Lighting Control System Market For Civilian and Commercial Airpor …
Latest industry research report on: Global Airport Lighting Control System Market : Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts Request For Sample Report @ https://www.marketresearchreports.biz/sample/sample/1234282 Geographically, this report split global into several key Regions, with sales (K sqm), revenue (Million USD), market share and growth rate of Airport Lighting Control System for these regions, from 2012 to 2022 (forecast), covering United States China Europe Japan Korea Taiwan Global Airport Lighting Control System market competition