In-flight online shopping market expected to reach $ 825.3 million by 2030 – Fastbreak Daily
According to a new report released by Allied Market Research titled “Online In-Flight Shopping Market by Aircraft Type, Flight Type and Purchase Type: Global Opportunity Analysis and Industry Forecast, 2021-2030,”
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The global in-flight online shopping market has grown rapidly in recent years due to the increasing inclination of people to travel and explore unique vacation destinations. Market growth is further driven by rising disposable income and improving living standards. The rise in the number of high net worth individuals (HNIs) in emerging markets is further propelling the growth of in-flight online shopping. The global in-flight online shopping market size was valued at $ 232.3 million in 2020 and is expected to reach $ 825.3 million by 2030, registering a CAGR of 12.8% from 2021 to 2030. L North America was the largest contributor of revenue, accounting for $ 111.2 million. in 2020, and is expected to reach $ 372.2 million by 2030, with a CAGR of 12.4%.
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The growth of the market is mainly attributed to the increase in the middle class population in countries such as China, India, Brazil, Japan, Australia and Thailand. According to recent statistics, Asia-Pacific millionaires now control more wealth than their peers in North America. In terms of future spending options, travel has been recognized as the top priority with a greater focus on unique luxury experiences and adventure activities. The renewed interest of people in exploring new places and having unique travel experiences has encouraged market participants to offer regional food and drink and alcohol flavors that connect travelers with the local culture of the region. destination and explore the unknown knowledge of the place and its people. in-flight online shopping market trends. However, changing socio-economic conditions threaten the growth of the market. On the contrary, market players are offering new specialized products in limited edition for travel retail categories to meet the needs of travelers, which is expected to provide lucrative opportunities for the expansion of the global market during the forecast period. .
According to the global online shopping market analysis, the market is segmented on the basis of aircraft type, flight type, purchase type, and region. Depending on the type of aircraft, the market is divided into economy class, business class and first class. In 2020, the first-class segment held around 40.6% of the global in-flight online shopping market and is expected to continue this trend during the forecast period of the in-flight online shopping market. This is attributed to the increased interest of people to explore new products in the beauty and care industry.
By flight size the market is separated into full service and low cost. It is estimated that the low cost segment will experience the fastest growth. The full-service carrier offers passengers the options of travel in Economy or Business Class and on select flights, Premium Economy and First Class; thus contributing to the growth of the in-flight online shopping market.
By type of shopping, it is classified into travel accessories, beauty and care, and others. The market is analyzed in North America, Europe, Asia-Pacific and LAMEA.
Based on region, North America was the predominant market in 2020, accounting for the maximum in-flight online shopping market share. Asia-Pacific is expected to grow at the fastest pace in the market, registering a CAGR of 14.1% during the forecast period. In addition, the increased travel and shopping aspirations of the young and wealthy millennials are expected to drive the market growth in Asia-Pacific. Baby Boomers and Generation X are the major contributors to the Asia-Pacific in-flight online shopping market.
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Players in the in-flight online shopping industry have adopted product launch and business expansion as key development strategies to grow their market share, increase profitability, and stay competitive in the market. Major players featured in this report include Inmarsat plc, Lufthansa, AirAsia Group, The Emirates Group, Swiss International Air Lines AG, Thomas Cook Airlines Ltd, Singapore Airlines Limited, EasyJet Airline Company Limited, airfree and SKYdeals.
Main conclusions of the study
By aircraft class, the first class segment held the highest share, accounting for 40.6% of the global in-flight online shopping market.
On the basis of the type of flight, the full service segment held the major market share of 68.4%.
Regionally, North America held the largest share of the market and is expected to remain dominant throughout the forecast period.
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