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North America Travel Retail Market Report — Forecasts Market Growth from $13.24B (2026) to $15.95B by 2031, Profiling Dufry, DFS Group, WH Smith, HMSHost, Paradies Lagardère, and 15 Other Key Players

globenewswire.com
UL While not explicitly mentioned, Unilever is a major global consumer goods company with significant presence in beauty, fashion, and food categories, which are highlighted as strong performers in the North America Travel Retail market. The article's positive outlook on these categories could indirectly benefit Unilever. EL Estée Lauder is a prominent player in the fragrances and cosmetics sector, which is identified as a key growth driver in the North America Travel Retail market. The article's positive outlook on this category suggests potential benefits for Estée Lauder. BEP The article mentions Boeing's outlook for aircraft deliveries, which is a positive indicator for the travel industry. Brookfield Renewable Partners, while not directly mentioned, is involved in infrastructure and energy, which could indirectly benefit from increased air travel and airport development.

North America Travel Retail Market Report — Forecasts Market Growth from $13.24B (2026) to $15.95B by 2031, Profiling Dufry, DFS Group, WH Smith, HMSHost, Paradies Lagardère, and 15 Other Key Players Dublin, Aug. 28, 2026 (GLOBE NEWSWIRE) -- The "North America Travel Retail - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)" has been added to ResearchAndMarkets.com's offering.

North America Travel Retail Market Projected to Reach USD 15.95 Billion by 2031

The North America travel retail market was valued at USD 12.76 billion in 2025 and is expected to increase from USD 13.24 billion in 2026 to USD 15.95 billion by 2031. The market is projected to record a compound annual growth rate of 3.79% during the 2026-2031 forecast period, supported by recovering international passenger traffic, airport infrastructure investment and rising demand for premium travel retail products.

International Air Travel Recovery Supports Retail Sales

The rebound in international aviation is strengthening the customer base for airport and border retail operations across the United States, Canada and Mexico. North American carriers reported a 28.3% increase in passenger traffic during 2023 compared with 2022. International travelers are particularly important to the North America travel retail market because they generally spend substantially more than domestic passengers.

Leisure travel has surpassed pre-pandemic levels in several markets, while business travel continues to recover. Although business passenger volumes remain below earlier highs, this demographic continues to generate demand for premium fragrances, cosmetics, wine, spirits, fashion and accessories. Mexico is also emerging as an important regional growth center, recording 4.002 million international passengers in December 2024. Tourism infrastructure improvements and new air-service agreements are expected to support further expansion.

Long-term aviation capacity is another positive market indicator. Boeing's 20-year outlook anticipates 43,975 aircraft deliveries, providing the additional capacity required to accommodate sustained passenger growth and create new travel retail opportunities.

Airport Redevelopment Expands Commercial Opportunities

Major airport redevelopment projects are transforming retail environments into experience-led commercial destinations. John F. Kennedy International Airport's USD 19 billion transformation includes a retail boulevard designed to feature luxury shopping, dining and interactive brand experiences. Similar investments across North America are increasing post-security retail space and encouraging passengers to spend more time in commercial areas.

Research indicates that a 10% increase in passenger dwell time can generate an approximately 5% rise in non-aeronautical revenue. Airports are therefore adding seating, charging facilities, entertainment and digital services to improve passenger engagement. Retail operators that can invest in modern store formats, personalized digital experiences and frequently updated product assortments are positioned to benefit from these developments.

Customs Restrictions Affect Alcohol and Tobacco Sales

Customs allowances continue to limit growth in high-margin alcohol and tobacco categories. Canadian residents returning after trips of at least 48 hours may bring back limited quantities, including 1.5 liters of wine, 1.14 liters of spirits or 8.5 liters of beer. Comparable restrictions in the United States also affect duty-free purchasing, particularly at land-border locations.

In response, travel retailers are allocating more space to beauty, fashion, accessories and regional gourmet products. These categories face fewer regulatory constraints and can deliver attractive margins. Liquor brands are also introducing smaller bottles and gift sets designed to comply with customs allowances.

Fragrances and Cosmetics Lead Product Demand

Fragrances and cosmetics accounted for 32.05% of the North America travel retail market in 2025. The category is forecast to grow at an 11.92% compound annual growth rate through 2031, making it a key contributor to premiumization. Retailers are supporting conversion through digital product testers, augmented-reality mirrors and expert-led consultations that help passengers make faster purchasing decisions.

Wine and spirits continue to produce strong average transaction values, although customs limits and moderation trends may restrict growth. Tobacco remains under structural pressure, while fashion and accessories benefit from limited-edition collections and seasonal travel demand. Food and confectionery maintain a stable position as gifting and souvenir categories, with premium flavors, product provenance and sustainability increasingly influencing purchasing decisions.

Electronics, watches and jewelry also retain relevance by offering immediate ownership and in-person product testing. Combined with rising passenger spending, airport modernization and diversified category strategies, these trends are expected to support steady growth across the North America travel retail market through 2031.

Key Topics Covered:

1 Introduction

1.1 Study Assumptions and Market Definition

1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

4.1 Market Overview

4.2 Market Drivers

4.2.1 Rebound in international air passenger traffic

4.2.2 Expansion of airport retail footprints and concession redevelopments

4.2.3 Rising spend per passenger via premiumization

4.2.4 Strong performance of fragrances and cosmetics category

4.2.5 Growth of private-jet and FBO duty-free concepts

4.2.6 Contactless checkout technologies boosting conversion

4.3 Market Restraints

4.3.1 Stringent customs limits on tobacco and alcohol allowances

4.3.2 Competition from downtown duty-free and e-commerce

4.3.3 Slot-constrained U.S. gateway airports limit retail space

4.3.4 Shift to low-alcohol / wellness reduces wine and spirits basket

4.4 Value / Supply-Chain Analysis

4.5 Regulatory Landscape

4.6 Technological Outlook

4.7 Porter's Five Forces

4.7.1 Threat of New Entrants

4.7.2 Bargaining Power of Suppliers

4.7.3 Bargaining Power of Buyers

4.7.4 Threat of Substitutes

4.7.5 Competitive Rivalry

5 Market Size and Growth Forecasts

5.1 By Product Type

5.1.1 Fashion and Accessories

5.1.2 Wine and Spirits

5.1.3 Tobacco

5.1.4 Food and Confectionery

5.1.5 Fragrances and Cosmetics

5.1.6 Other Product Types (Stationery, Electronics, Watches, Jewelry, etc.)

5.2 By Distribution Channel

5.2.1 Airports

5.2.2 Cruise Liners

5.2.3 Railway Stations

5.2.4 Other Distribution Channels

5.3 By Traveler Demographics

5.3.1 Business Travelers

5.3.2 Leisure Travelers

5.3.3 Visiting Friends and Relatives (VFR)

5.3.4 Medical and Wellness Tourists

5.3.5 Student Travelers

5.4 By Geography

5.4.1 Canada

5.4.2 United States

5.4.3 Mexico

6 Competitive Landscape

6.1 Market Concentration

6.2 Strategic Moves

6.3 Market Share Analysis

6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share for key companies, Products and Services, and Recent Developments)

6.4.1 Dufry (Hudson)

6.4.2 Duty Free Americas

6.4.3 Paradies Lagardere

6.4.4 WH Smith (InMotion)

6.4.5 DFS Group

6.4.6 3Sixty Duty Free and More

6.4.7 OTG Management

6.4.8 Heinemann Americas

6.4.9 SSP America

6.4.10 Areas USA

6.4.11 Unibail-Rodamco-Westfield Airports

6.4.12 Sterling Duty Free

6.4.13 Aer Rianta International NA

6.4.14 Delaware North Travel Hospitality

6.4.15 HMSHost

6.4.16 InMotion Entertainment Group

6.4.17 Hudson Nonstop

6.4.18 Relay

6.4.19 Valora Retail USA

6.4.20 Lotte Duty Free (US)

7 Market Opportunities and Future Outlook

7.1 Omni-channel click-and-collect platforms linking airport and downtown duty-free

7.2 Hyper-local product curation (craft spirits, indigenous fashion) for sense-of-place retailing

For more information about this report visit https://www.researchandmarkets.com/r/3jpgql

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