Global Airport Retailing Market: Overview
Aviation industries not only depend on aeronautical business to generate targeted return on investments, but also a non-aeronautical business. Owing to rising competition among global players for offering low airfares and diversifying sources for generation of revenue, the focus has shifted towards non-aeronautical sector for constant growth in this market. The non-aeronautical business includes advertisements, duty-free retail shops, catering services, restaurant bars cafeterias, and others. Aviation industries have realized the importance of retail business and consider it as the key contributor so as to sustain in the industries.
Global Airport Retailing Market: Growth Factors
The global airport retailing market is experiencing significant growth owing to increasing budget of the aviation industries and air travelers, which in turn may foster the growth of the global market in the coming years. In addition, expansion of multinational retailers and rising number of terminals are other factors that are expected to enhance the global airport retailing market. Increasing the disposable income of the population and availability of luxury products at affordable prices are also anticipated to fuel the global market growth in future. Major factors driving the global airport retailing market are the growth of the tourism sector and availability of products at affordable prices.
Global Airport Retailing Market: Segmentation
The global airport retailing market is categorized based on ownership, product type, store type, and geography. The ownership segment includes corporate chains, independent owners, and franchises. The type segment comprises food and beverages, pharmacy products, electronic products, arts, and fashion and accessories. Further, the store type segment is fragmented as duty-free stores, supermarkets, independent stores and showroom, restaurants, and others. The global airport retailing market is segregated based on geography as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa
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Global Airport Retailing Market: Regional Analysis
Europe is the largest market in the airport retailing market owing to immense growth opportunities in the airport retailing market. In addition, increasing investments for expansion of airport retailing along with growth in the tourism sector are expected to contribute to the global market growth in the next few years. The presence of affordable airfares also influences the global airport retailing market. Moreover, several new projects in pipeline sector that consist of the renovation of existing projects and expansion of new terminals may also impact the global market growth in a positive way. Asia Pacific is also anticipated to witness considerable growth in the global airport retailing market. Increasing investment by the developing economies such as China and India over new terminals and expansion of the dedicated retail areas for attracting a large number of passengers also positively impacts the global market in this region.
Global Airport Retailing Market: Competitive Players
Key players operating in the global airport retailing market are Lagardere Travel Retail, Baltona Duty Free, Autogrill, Regstaer Duty Free, and Dufry. Other major players include Gebr Heinemann, DFS Group, Hugo Boss, Levi’s, Lacoste, Le Bridge Duty Free, Bahrain Duty Free Shop Complex (BSC), Duty Free Americas, and Dubai Duty Free.