Press release
The Impact of Increasing Passenger Traffic On The Growth Of Airport Retailing Driving Market Acceleration in the Airport Retailing Industry, 2025
Airport Retailing Market
How Large Will the Airport Retailing Market Size By 2025?
In recent times, there's been a swift enlargement of the airport retailing market size. Predictions indicate a rise from $29.28 billion in 2024 to $32.5 billion in 2025, showing a compound annual growth rate (CAGR) of 11.0%. The surge experiences in the past years can be traced back to factors such as an increased passenger count, burgeoning disposable income, expansion of travel retail brands, the proliferation of low-cost carriers, and escalating urbanization.
How Big Is the Airport Retailing Market Size Expected to Grow by 2029?
The size of the airport retail market is anticipated to experience accelerated expansion in the coming years, potentially reaching $50.14 billion by 2029, with a compound annual growth rate (CAGR) of 11.4%. The surge during the projected period can be attributed to factors such as evolving customer tastes, development and upgrading of airport amenities, the quest for luxury and premium products, rising incentives for duty-free shopping, and an upswing in tourism. Key trends expected to shape the market during this period include technological advancements, partnerships with airlines and loyalty programs, cutting-edge data analytics, unique retail ideologies, and ground-breaking initiatives in omnichannel retailing.
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Which Key Market Drivers Powering Airport Retailing Market Expansion and Growth?
The surge in air passenger traffic is poised to fuel the expansion of airport retailing in the future. Air passenger traffic pertains to the flow and quantity of air travellers over a given timeframe. This upsurge can be attributed to the advancement in tourism, enhanced air connectivity, and a combination of social and infrastructural elements. Airport retailing significantly bolsters air passenger traffic by augmenting the overall travel experience, generating extra income, and rendering airports as more appealing to passengers and airlines. For instance, as reported by the Bureau of Transport and Statistics (BTS), a US-based independent statistical agency, in March 2023, there was a 30% year-over-year increase in passenger figures for U.S. airlines in 2022, equating to an additional 194 million passengers compared to 2021. Moreover, from January to December, the cumulative passenger count for U.S. airlines amounted to 853 million, in contrast to 658 million in 2021 and 388 million in 2020. Consequently, this surge in passenger traffic is spurring the expansion of the airport retailing market.
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What Are the Key Trends Driving Airport Retailing Market Growth?
Leading firms in the airport retailing sector are concentrating on devising inventive travel retail ideas to both improve the experience of passengers and gain a significant portion of the expanding worldwide travel retail market. This fresh travel retail scheme includes novel methods of enhancing both shopping and dining facilities at airports, train depots, and other transport junctions. It emphasizes on harmoniously merging technology, personalization, ease of access, and a smooth integration of physical and virtual retail settings to cater to the changing demands and tastes of today's travelers. As an example, Chalhoub Group, a company based in the United Arab Emirates (UAE), unveiled a new travel retail initiative called "The Visitor" in November 2023. This ground-breaking initiative aims to elevate the travel experience to meet the demands of the rapidly increasing population of younger global travelers. The concept store is structured to offer visitors an interactive and compelling shopping journey.
What Are the Emerging Segments in the Airport Retailing Market?
The airport retailingmarket 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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Who Are the Global Leaders in the Airport Retailing Market?
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
Which are the Top Profitable Regional Markets for the Airport Retailing Industry?
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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