The $825.3 million online shopping market is expected to grow at a CAGR of 12.8% by 2021-2030
due to the increase in the number of international and domestic air passengers and the growth of the aviation industry.
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, USA, Feb. 2, 2022 /EINPresswire.com/ — According to a new report released by Allied Market Research, titled “Online Airplane Inflight Shopping Market Type , Type of Flight and Type of Purchase: Global Opportunity Analysis and Industry Forecast, 2021-2030 »
The global online inflight shopping market has been growing rapidly for the past few years owing to the increase in people’s inclination 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 online shopping in flight. The global in-flight online shopping market size was valued at USD 232.3 Million in 2020 and is projected to reach USD 825.3 Million by 2030, registering a CAGR of 12.8% from 2021 to 2030. North America was the top revenue contributor, accounting for $111.2 million. in 2020 and is expected to reach $372.2 million by 2030, growing at a CAGR of 12.4%.
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The growth of the market is mainly attributed to the increasing 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 North American peers. In terms of future spending options, travel was recognized as the top priority, with an increased emphasis on unique luxury experiences and adventure activities. People’s growing interest in exploring new places and enjoying unique travel experiences has encouraged market players to offer food and beverage products and regional alcohol flavors that connect travelers with the local culture of the destination. and explore the unknown knowledge of the place and its people are flight online shopping market trends. However, changing socio-economic conditions threaten the growth of the market. On the contrary, market players are coming up with new limited edition specialty products for travel retail categories to cater to the needs of travelers which is expected to provide remunerative opportunities for the expansion of the global market over the forecast period. .
According to the analysis of the global online inflight shopping market, the market is segmented on the basis of aircraft type, flight type, purchase type and region. Based on aircraft type, the market is divided into economy class, business class and first class. In 2020, the first class segment held approximately 40.6% of the global inflight online shopping market and is expected to continue this trend during the forecast period of the inflight online shopping market. This is attributed to people’s increased interest in exploring new products in the beauty and skincare industry.
According to the size of the flight, the market is separated into full service and low cost. The low-cost segment is believed to be growing the fastest. The full-service carrier offers passengers the travel options of economy or business class and on select flights, premium economy and first class; thus contributing to the growth of the online in-flight shopping market.
By type of purchase, it is categorized into travel accessories, beauty and care, and others. The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Based on region, North America was the top market in 2020, accounting for the maximum market share of in-flight online shopping. Asia-Pacific is expected to grow at the fastest pace in the market, registering a CAGR of 14.1% during the forecast period. Furthermore, the increase in travel and shopping aspirations of young and affluent millennials is expected to significantly boost the market growth in Asia Pacific. Baby boomers and Generation X are the major contributors to the Asia-Pacific online shopping market.
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Players in the online in-flight shopping industry have adopted product launch and business expansion as the key development strategies to grow their market share, increase profitability and stay competitive in the market. The major players profiled in this report are 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 results of the study
By aircraft class, the first class segment held the highest share, accounting for 40.6% of the global inflight online shopping market.
By type of flight, the full-service segment held the bulk of the market with 68.4%.
Regionally, North America held the majority of the market and is expected to remain dominant throughout the forecast period.
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