North American Travel Retail Market Predicted to Reach $15.95B by 2031
A significant market research report released today, August 28, 2026, forecasts a robust growth path for the North American travel retail sector. This sector includes airport shops, duty-free outlets, and border retail. As per the report disseminated via GlobeNewswire and ResearchAndMarkets.com, the market is currently valued at USD $13.24 billion in 2026. It is expected to soar to USD $15.95 billion by 2031, marking a compound annual growth rate (CAGR) of 3.79% throughout the forecast period.
Major contributors profiled in the report are Dufry, DFS Group, WH Smith, HMSHost, and Paradies Lagardère, along with 15 other significant operators. The growth is primarily propelled by the recovery of international passenger traffic, substantial airport infrastructure investments across the United States, Canada, and Mexico, and a surge in demand for premium travel retail products. International travelers significantly contribute to the market as they typically outspend domestic flyers by three to four times, directly augmenting retail revenues.
Leisure travel has already exceeded pre-pandemic levels in several North American markets. Concurrently, airport operators are progressively investing in luxury boutiques, premium lounges, and experiential retail formats to capitalize on extended passenger dwell times. Analysts highlight that Generation Z and Millennial travelers are transforming the sector, demanding more immersive, story-driven in-store experiences.
Source: GlobeNewswire – North America Travel Retail Market Report (August 28, 2026)