The global airport retailing market size was valued at USD 30815 million in 2021 and is projected to reach USD 91105 million by 2030, registering a CAGR of 12.8% during the forecast period (2022-2030). Asia-Pacific was the highest revenue contributor and is estimated to grow at a CAGR of 13.9% during the forecast period.

New York, United States, July 14, 2022 (GLOBE NEWSWIRE) -- Airport retailing refers to the presence of various retail services in the airport, such as jewelry, books & magazines, gifts & crafts, apparel & accessories, convenience stores, and perfumes, to give more convenience to travelers. Furthermore, airport retailing provides various items and is convenient for tourists. It has become one of the essential techniques for businesses to promote and raise brand awareness at airports.

Lifestyle changes, increased tourism promotion, and increased accessibility of transportation facilities are all aspects that are projected to help the travel & tourism industry flourish, which will bolster the expansion of the airport retailing market. Technological improvements, for example, have made it easier to book hotels and transportation through online portals, boosting the market's growth.

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Development of the Travel & Tourism Industry to Drive the Global Airport Retailing Market

Leisure, commercial, medical, and other types of tourism are all included in travel & tourism. Lifestyle changes, increased tourism promotion, and increased accessibility of transportation facilities are all factors that promote the growth of the travel and tourism industry, which are expected to increase the number of travelers at airports, contributing to the development of airport retailing market. The market's growth is aided by easy access to hotel and transportation bookings via internet platforms. The rise of the global travel & tourism business is accelerated by integrating several areas such as hospitality and infrastructure with government initiatives to attract travelers, which in turn supports the growth of the airport retailing market.

Growth in Asia-Pacific and LAMEA Economies to Provide Opportunities for the Global Airport Retailing Market

Asia-Pacific has become one of the world's most populous developing regions. The primary driver of the market is an improvement in the region's economic conditions and an increase in disposable income. The expansion of the market is boosted by economic growth in LAMEA countries. Furthermore, the development of the airport retailing market is expected to be fueled by an increase in the number of millennials. With sporting events such as FIFA 2022 in Qatar and the ICC T20 World Cup in India in 2021, the airport retailing sector is predicted to thrive due to the increased number of passengers, which will benefit the industry's growth. As a result, the unexplored countries of Asia-Pacific and Latin America, and the Caribbean (LAMEA) are projected to have tremendous growth opportunities in the following years.

Report Scope

Report Metric	Details
Market Size	USD 91.10 Billion by 2030
CAGR	12.8% (2022-2030)
Historical Data	2019-2020
Base Year	2021
Forecast Period	2021-2030
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered	Product Type, Airport Size and Region
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	Airport Retail Group, LLC China Duty-Free Group CO., LTD DFS Group LTD Dubai Duty-Free Dufry AG
Key Market Opportunities	Growth in Asia-Pacific and LAMEA Economies
Key Market Drivers	Increasing Disposable Income

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Regional Insights
By region, the global airport retailing market is segmented into North America, Europe, Asia-Pacific, and LAMEA. 

Asia-Pacific was the highest revenue contributor and is estimated to grow at a CAGR of 13.9% during the forecast period. Asia-Pacific airport retailing market is studied across China, Thailand, Japan, India, Australia, and South Korea. Asia-Pacific is growing at the fastest rate owing to improved living standards and a rise in disposable income, in addition to expanding the tourism industry. Moreover, the 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 low-cost carriers (LCC) are the key factors that further promote the development of the Asia-Pacific airport retailing market. Furthermore, the surge in preference for value-added products boosts the desire to travel, increasing the demand for duty-free liquor, tobacco, fashion products, cosmetics, and perfumes.

The Europe market was the second-highest contributor to the airport retailing market. The Europe airport is projected to reach USD million by 2030 growing at a CAGR of 12% during the forecast period. U.K. and Russia, with more significant tourists through airlines, are the most extensive travel and tourism markets in Europe. In addition, tourists from other regions such as China and the Middle East contribute to Europe's airport retailing market. Thus, the development of the travel & tourism industry and improvement in lifestyle due to increased disposable income of consumers act as the fundamental driving forces of the market. However, enforcement of stringent regulations regarding the allowed duty-free products in airport retailing is expected to hamper the growth of the airport retailing market. 

The North American airport retailing market is the third-largest. This is attributed to the rise in international air traffic from/to the U.S., which increases footfall at airports. Furthermore, North American airports are heavily investing in analyzing revenue per visitor by providing an upgraded shopping experience with facilities, such as boarding, lodging, catering, parking, and advertising and in addition, focusing on promotional activities such as campaigns, digital advertising, events, and press activities fuels the duty-free shopping and product visibility. Moreover, an increase in the number of luxury stores by some of the giant companies, including Louis Vuitton SA and LVMH Moët Hennessy, at airports is positively contributing to the market. 

Key Highlights

• The global airport retailing market was valued at USD 30815 million in 2021 and is projected to reach USD 91105 million by 2030, registering a CAGR of 12.8% during the forecast period (2022-2030). 

• Depending on the product type, the global airport retailing market includes perfumes & cosmetics, fashion & accessories, liquor & tobacco, food & beverages, and other products. The perfumes & cosmetics segment was the highest contributor to the market and is estimated to grow at a CAGR of 13.9% during the forecast period. An increase in disposable income subsequently results in a rise in travel and tourism, which acts as a critical driving force of the airport retailing market. Moreover, lifestyle improvement and an increase in the affluent population notably contribute to the market's growth. 
• By Airport Size, the global airport retailing market is segmented into the large airport, medium airports, and small airports. The large airport segment was the highest contributor to the market and is estimated to grow at a CAGR of 12.7% during the forecast period. 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 toward selling products through retail travel hubs. As the footfall of passengers is high at these airports, the revenue generated is correspondingly high. Thus, an increase in the number of international tourists drives the growth of this segment.
• By distribution channel, the global airport retailing market is segmented into direct retailers, convenience stores, specialty retailers, and departmental stores. The specialty retailer segment was the highest contributor to the market and is estimated to grow at a CAGR of 13.4% during the forecast period. Airport specialty retailers are usually liquor, perfume, or fashion and accessories stores. Not every customer exhibits brand loyalty when it comes to retail shopping at airports. For such customers, specialty retailers serve as an ideal option, as they get to choose products from a wide variety of brands. Furthermore, as many consumers seek limited edition products, they can easily acquire them in specialty retail shops, while others looking for international brands of cigars, cigarettes, perfumes, cosmetics, and watches can also benefit from their availability under one roof. All these factors together notably contribute to the growth of the market.

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Competitive Landscape

• Airport Retail Group, LLC
• China Duty-Free Group CO., LTD
• DFS Group LTD
• Dubai Duty-Free
• Dufry AG
• Flemingo International
• Gebr. Heinemann SE & Co. KG
• King Power International
• Japan Airport Terminal Co., Ltd

Global Airport Retailing Market: Segmentation

By Product Type

• Liquor and Tobacco
• Perfumes and Cosmetics
• Fashion and Accessories
• Food and Beverages
• Others

By Airport Size

• Large Airport
• Medium Airport
• Small Airport

By Distribution Channel

• Direct Retailer
• Convenience Store
• Specialty Retailer
• Departmental store

By Region

• North America
• Europe
• Asia-Pacific
• LAMEA

TABLE OF CONTENT

1. Introduction
   1. Market Definition
   2. Market Scope
2. Research Methodology
   1. Primary Research
   2. Research Methodology
   3. Assumptions & Exclusions
   4. Secondary Data Sources
3. Market Overview
   1. Report Segmentation & Scope
   2. Value Chain Analysis: Airport Retailing Market
   3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
   5. Market Share Analysis
4. Product Type Overview
   1. Introduction
      1. Market Size & Forecast
   2. Liquor and Tobacco
      1. Market Size & Forecast
   3. Perfumes and Cosmetics
      1. Market Size & Forecast
   4. Fashion and Accessories
      1. Market Size & Forecast
5. Airport Size Overview
   1. Introduction
      1. Market Size & Forecast
   2. Large Airport
      1. Market Size & Forecast
   3. Medium Airport
      1. Market Size & Forecast
6. Regional Overview
   1. Introduction
      1. Market Size & Forecast
   2. America
      1. North America
      2. U.S.
         1. By Product Type
         2. By Airport Size
      3. Canada
         1. By Product Type
         2. By Airport Size
      4. Mexico
         1. By Product Type
         2. By Airport Size
      5. Latin America
         1. By Product Type
         2. By Airport Size
   3. Europe
      1. Market Size & Forecast
      2. Germany
         1. By Product Type
         2. By Airport Size
      3. France
         1. By Product Type
         2. By Airport Size
      4. U.K.
         1. By Product Type
         2. By Airport Size
      5. Italy
         1. By Product Type
         2. By Airport Size
      6. Spain
         1. By Product Type
         2. By Airport Size
      7. Rest of Europe
         1. By Product Type
         2. By Airport Size
   4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
         1. By Product Type
         2. By Airport Size
      3. China
         1. By Product Type
         2. By Airport Size
      4. Australia
         1. By Product Type
         2. By Airport Size
      5. India
         1. By Product Type
         2. By Airport Size
      6. South Korea
         1. By Product Type
         2. By Airport Size
      7. Rest of Asia-Pacific
         1. By Product Type
         2. By Airport Size
   5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
         1. By Product Type
         2. By Airport Size
      3. South Africa
         1. By Product Type
         2. By Airport Size
      4. Kuwait
         1. By Product Type
         2. By Airport Size
      5. Rest of Middle East & Africa
         1. By Product Type
         2. By Airport Size
7. Company Profile
   1. Airport Retail Group, LLC
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   2. China Duty-Free Group CO., LTD
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   3. DFS Group LTD
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   4. Dubai Duty-Free
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio

Table of Content and Figure @  https://straitsresearch.com/report/airport-retailing-market/toc

Market News

• May 2022 - Gebr. Heinemann and Highsnobiety have formed the joint venture GATE ZERO, combining Travel Retail expertise and reach on a global scale. What began as a pop-up store by Highsnobiety at Zurich Airport will now become a long-term partnership between Gebr. Heinemann and Highsnobiety. The cooperation between the long-standing Travel Retail company and the influential multi-media powerhouse began 18 months ago. At the beginning of 2021, the GATE ZERO joint venture contract was concluded.

News Media

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Asia-Pacific to Hold the Largest Share in the Travel Retail Market

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