Airport Retailing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2022 - 2032
The airport retailing market is anticipated to reach the valuation of US$ 40,592.9 Mn and grow at a CAGR of 12.6% in the forthcoming years from 2022 to 2032. High consumer demands for different luxurious products and rising air traffic are expected to bolster growth opportunities in the airport retailing market.
Airport travel retail is comprised of noticeable market share across the travel retail industry. These retail stores are generally found at airside, arrivals, and departures. Further, the market is likely to grow with the expansion of airport infrastructure in the coming years.
In recent years, people around the world are inclining toward exotic and unique holiday experiences. Furthermore, rising requirements as well as the interest of global consumers to spend increased money on shopping and increasing upper- and middle-class disposable income and related expenditure are also projected to work as revenue generators in the airport retailing market.
Increasing accessibility of the transport facilities, rising tourism promotion, and changes in lifestyle are some pivotal factors that are likely to propel growth impetuses in the market in the near future.
The players operating in the airport retailing market are adopting various strategies in order to generate novel growth opportunities in the upcoming years. Some of these strategies include acquisitions & mergers, portfolio expansion, novel product launches, collaborations, agreements, partnerships, and many more.
The key players serving in the airport retailing market include:
The key regions that are analyzed in the research report on the airport retailing market include North America, Europe, Asia-Pacific, and LAMEA based on geographical locations. Of these, Asia Pacific has been predicted to grow at a noticeable speed in the years to come. The growth avenues in the market are attributed to the increasing disposable income of the regional population which further increases their spending capacity. Further, increasing initiatives by government bodies have also been expected to contribute to growth opportunities in the market.
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Current and Future Threats
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