Rise in inclination of people toward unique and exotic holiday experiences and surge in the income of middle- & upper-class people fuel the growth of the global airport retailing market.
Portland, OR, June 08, 2021 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Airport Retailing Market by Product Type (Liquor & Tobacco, Perfumes & Cosmetics, Fashion & Accessories, Food & Beverages, and Others), Airport Size (Large Airport, Medium Airport, and Small Airport), and Distribution Channel (Direct Retailer, Convenience Store, Specialty Retailer, and Departmental store): Global Opportunity Analysis and Industry Forecast, 2021-2027.” According to the report, the global airport retailing industry was projected at $27.5 billion in 2019, and is anticipated to hit $40.5 billion by 2027, registering a CAGR of 12.6% from 2021 to 2027.
Rise in inclination of people toward unique and exotic holiday experiences, surge in the income of middle- & upper-class people, and growing interest of people to spend more money on shopping fuel the growth of the global airport retailing market. On the other hand, stringent government regulations impede the growth to some extent. Nevertheless, upsurge in the tourism sector, affordable airfares, increased airport investment to expand retail spaces, and the introduction of new terminals are expected to create lucrative opportunities in the industry.
Get Instant Access – Download Sample Report: https://www.alliedmarketresearch.com/request-sample/8307
The outbreak of the pandemic led to ban on transportation across the world, especially during the first phase of the lockdown. This, in turn, impacted the airport retailing market negatively.
The distorted supply chain and lack of raw materials affected the market yet more.
However, several government bodies have initiated vaccination drives, and with this drift on board, the market is expected to recoup soon.
Based on product type, the perfumes and cosmetics segment accounted for nearly two-fifths of the global airport retailing market share in 2019, and is expected to rule the roost by the end of 2027. The same segment would also register the fastest CAGR of 13.7% from 2021 to 2027. Improvement in lifestyle along with increase in affluent population drives the segment growth.
Get detailed COVID-19 impact analysis on the Airport Retailing Market: https://www.alliedmarketresearch.com/request-for-customization/8307?reqfor=covid
Based on airport size, the large airport segment contributed to nearly three-fifths of the global airport retailing market revenue in 2019, and is anticipated to lead the trail by 2027. Large airports are located at the capital region of countries and are popular holiday destinations. These airports have a considerable number of business class travelers who notably contribute toward the sale of products through travel retail hubs. These factors propel the segment growth. The medium airport segment, on the other hand, would portray the fastest CAGR of 13.5% throughout the forecast period. Expansion of the retail businesses on medium airports is majorly driven by rise in spending capacity of the middle-income group.
Based on region, Asia-Pacific, followed by Europe and North America, held the major share in 2019, garnering nearly two-fifths of the global airport retailing market. The same region would also cite the fastest CAGR of 13.7% from 2021 to 2027. This is due to increase in number of new air routes and the introduction of low cost carrier (LCC) in the province.
Enquire For More@ https://www.alliedmarketresearch.com/purchase-enquiry/8307
Key players in the industry-
Dubai Duty Free
DFS Group Ltd.
the Shilla Duty Free
China Duty Free Group Co., Ltd.
Airport Retail Group LLC
Heinemann SE & Co. KG
King Power International,Japan Airport Terminal Co., Ltd.
Access Avenue (Premium on-demand, subscription-based pricing model) @ https://www.alliedmarketresearch.com/Avenue-Membership-details
Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
CONTACT: David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141 International: +1-503-894-6022 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1-855-550-5975 firstname.lastname@example.org Web: https://www.alliedmarketresearch.com