Airport Retailing Market Report 2024

The airport retailing market size has grown rapidly in recent years. It will grow from $26.29 billion in 2023 to $29.28 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The increase during the historical period can be linked to a rise in passenger numbers, higher disposable income, the expansion of travel retail brands, the growth of low-cost carriers, and increasing urbanization.

The airport retailing market size is expected to see rapid growth in the next few years. It will grow to $45.54 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. For the forecast period, growth can be attributed to evolving consumer preferences, improvements and expansion of airport facilities, higher demand for luxury and premium goods, growing benefits from duty-free shopping, and a rise in tourism. Key trends for the forecast period include technological advancements, partnerships with airlines and loyalty programs, enhanced analytics, innovative retail concepts, and new omnichannel strategies.

The growth in air passenger traffic is expected to drive the expansion of airport retailing in the foreseeable future. Air passenger traffic refers to the movement and volume of passengers traveling by air within a given period. This growth is fueled by various factors such as tourism development, improved air connectivity, and social and infrastructural advancements. Airport retailing plays a crucial role in enhancing the air travel experience by not only generating additional revenue but also making airports more appealing to passengers and airlines alike. For example, in March 2023, U.S. airlines saw a significant 30% year-over-year increase in passengers, highlighting the substantial rise in air travel demand. Over the course of the year, U.S. airlines transported a total of 853 million passengers, compared to 658 million in 2021 and 388 million in 2020, underscoring the driving force behind the airport retailing market's growth.

Key players in the airport retailing sector are actively innovating to improve the overall travel retail experience and capture a larger share of the global travel retail market. These innovations include new concepts that blend technology, personalization, convenience, and seamless integration of physical and digital retail environments. For instance, Chalhoub Group, based in the UAE, launched 'The Visitor' in November 2023, a novel travel retail concept aimed at enriching the shopping experience for modern travelers, particularly the younger demographic. This concept store offers an immersive and interactive shopping environment tailored to meet the evolving expectations of travelers.

In July 2023, Dufry, a Switzerland-based retail company, acquired Autogrill, an Italy-based company specializing in airport retailing and food and beverage services. This strategic acquisition is intended to consolidate Dufry's position in the travel retail market, creating synergies and enhancing operational efficiency across both retail and food service offerings.

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.

Asia-Pacific was the largest region in the airport retailing market in 2023. 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.

The countries covered in the airport retailing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Airport retailing encompasses a wide array of retail services and products available within airport terminals, offering travelers both convenience and a diverse shopping experience. This sector provides a broader selection of merchandise compared to traditional retail, catering to various traveler types, including business professionals and vacationers.

Key product categories in airport retailing include liquor and tobacco, perfumes and cosmetics, fashion and accessories, food and beverages, among others. Perfumes and cosmetics, in particular, are popular consumer items that utilize scents to enhance the user's experience and perception. The range of services available includes currency exchange, travel agencies, car rentals, and duty-free pre-orders, catering to different airport sizes such as large, medium, and small airports. These services are found in various locations within airports, including pre-security (landside) and post-security (airside), and are offered through different distribution channels such as direct retailers, convenience stores, specialty retailers, and department stores.

The airport retailing market research report is one of a series of new reports that provides airport retailing market statistics, including airport retailing industry global market size, regional shares, competitors with an airport retailing market share, detailed airport retailing market segments, market trends, and opportunities, and any further data you may need to thrive in the airport retailing industry. This airport retailing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The airport retailing market includes revenues earned by entities by providing brand activation, casual dining, and personalized services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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