Key Highlights of the Report:
- Growing Global Air Passenger Traffic: With increasing international and domestic travel, travellers are more likely to indulge in impulse shopping, leading to market growth.
- Increasing Demand for Duty-Free Products: Travelers are increasingly drawn to duty-free shopping due to the perceived value, tax exemptions, and access to international luxury brands at lower prices, supporting the growth in the airport retail market.
- North America significant market size: High passenger traffic, advanced airport infrastructure, and strong consumer spending patterns lead to its significant market share in the airport retail market.
- Asia-Pacific Growth: Rising air travel demand, expanding middle-class population, and rapid airport development in countries like China and India. are leading to significant growth in the airport retail market.
According to a new report by UnivDatos, the Airport Retail Market is expected to reach USD Million in 2033 by growing at a CAGR of 9.4%. Airport retail has been experiencing continuous rapid growth because of the expanding number of people using flight services, a growing per capita income, and changes in consumer trends. The number of people who use airports for business, leisure, and tourism purposes continues to increase, thus offering growth for retailers. Passengers are likely to shop during the time between security screening and boarding and are generally visiting during the end of trips to purchase travel products, gifts, duty-free products, and premium products. Moreover, the trend of impulse buying and convenience shopping, as well as the necessity of acquiring exclusive products that cannot be purchased in the store located in another city, increases the demand for the airport retail market.
Growing Global Air Passenger Traffic
The Increase in the global air traffic passenger flow is one of the key factors that affect the performance of airport retail shops and overall revenue in airports globally. For instance, Airports Council International (ACI) World and the International Civil Aviation Organization (ICAO) states that in 2024, global passenger traffic is expected to surpass pre-pandemic levels, reaching 9.5 billion passengers and by 2030, global passenger traffic is forecast to exceed 12 billion, driven by growth in international markets, particularly in the Asia-Pacific and Middle East regions. With growth in economic development, improved connectivity, the entrance of low-cost airline companies, and the integration of tourism, global and domestic travel is increasing, and thus, the airports are experiencing record traffic. Higher passenger numbers mean higher chances of sales, especially in duty-free shops and waiting areas, as people have time to look at products. Due to this, airports are no longer just mere transit centers but are becoming places where people spend a considerable amount of time and money. As a result, the airport retail market is expanding.
Access sample report (including graphs, charts, and figures): https://univdatos.com/reports/airport-retail-market?popup=report-enquiry
According to the report, the North America region holds a significant market share in the Global Airport Retail Market
North America’s contribution to the global airport retail industry is substantial due to its large amount of airport traffic and modern, developed airports with well-developed retail concepts, and prosperous tourism. For instance, JFK, LAX, and the Atlanta airport have lots of luxury and duty-free shops to make sales to both local and international travellers. Another factor that has contributed to its dominance is the region’s well-developed airline industry, consumers’ willingness to spend more on products and services, and focus on the upgrade of the airport’s luxury retail facilities, digital platforms, and other passenger-oriented services. Also, the commitment of airport authorities and global companies working together with them guarantees tactical improvement and revenues, inscribing North America as a world leader.
Key Offerings of the Report
Market Size, Trends, & Forecast by Revenue | 2025−2033.
Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
Market Segmentation – A detailed analysis By Airport Type, By Product, By Store Type, and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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