Airport Retailing Market Scope
Airport retailing has become a popular concept in the few decades. Often called travel retail, it has become one of the important strategies of key companies planning to promote and create awareness about their brand. Airports where airfares are low are not able to generate high revenue from aeronautical business. Therefore, they shift to non-aeronautical businesses such as retail shops, restaurant, bars, and others. Airport retailing can also include services including hotels, nursing homes, car rental outlets, banks, exchange offices, drugstores, and other stores such as jewelry, books and magazines, gifts and crafts, clothing & accessories, convenience stores, optics, perfumes, and souvenirs.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Billion) |
Key Companies Profiled | Autogrill (Italy), Baltona SA (Poland), Dufry (Switzerland), Gebr. Heinemann (Germany), Duty Free America (United States), Dubai Duty Free (United Arab Emirates), Bahrain Duty Free Shop Complex (Bahrain), World Duty Free Group (WDFG) (Spain), DFS Group (Hong Kong), Aer Rianta International (Ireland), Lotte Duty Free (South Korea) and King Power International (Thailand) |
CAGR | 6.1% |
"According to AMA, the Global Airport Retailing market is expected to see growth rate of 6.1% and may see market size of USD58.04 Billion by 2028."Developments in the competitive environment mean that global players cannot necessarily expect to establish a monopoly at the major hubs, in fact, to a certain extent, global operators’ objectives are at odds with the airports’ current priorities. Research Analyst at AMA estimates that Global Manufacturers will contribute to the maximum growth of Global Airport Retailing market throughout the predicted period.
Autogrill (Italy), Baltona SA (Poland), Dufry (Switzerland), Gebr. Heinemann (Germany), Duty Free America (United States), Dubai Duty Free (United Arab Emirates), Bahrain Duty Free Shop Complex (Bahrain), World Duty Free Group (WDFG) (Spain), DFS Group (Hong Kong), Aer Rianta International (Ireland), Lotte Duty Free (South Korea) and King Power International (Thailand) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Airport Retailing market by Type and Region with country level break-up. On the basis of Type, Fragrance and Cosmetics are dominating the market in the year 2022 where as Liquor & Tobacco stood as second largest market share.
On the basis of geography, the market of Airport Retailing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
The European Travel Retail Confederation (ETRC), and supported by ACI Europe, impact that restrictions imposed by some airlines on passengers carrying airport shopping on-board are having on passengers’ experience at airports and on their longer term interests in the level of service and connectivity provided by the European aviation system
Influencing Trend:
Rising Promotional Activities to Increase the Sale of Duty Free Products
Market Growth Drivers:
Increasing Tourism Sector Globally, Expansion of Multinational Retailers and Increasing Number of Terminals at Airport and Rise in Number of Passengers, Specifically in Developing Countries Includes India and China
Challenges:
Presence of Downtown Retail Stores
Restraints:
Stringent Government Rules & Regulations
Opportunities:
Increasing Customer Experience at Airports in Both Developed and Developing Economies and Surging the Disposable Income of the Population and Availability of Luxury Products at Affordable Prices
Key Target Audience
Government & Regulatory Bodies, Associations & Industrial Bodies, Suppliers & Distributors of Retail Goods, Partners of Travel Retailers and Investors