Adventure Tourism Market
According to a new report published by Allied Market Research, “Adventure Tourism Market Size, Share, Competitive Landscape & Trends Analysis Report (By Type, Activity, Traveler Type, Age Group & Distribution Channel): Global Opportunity Analysis and Industry Forecast, 2023-2032,” the global adventure tourism market size is valued at $324.9 billion in 2022 and is projected to grow at a CAGR of 19.5% from 2023 to 2032, reaching $2 trillion in 2032. The report provides a detailed analysis of key investment pockets, key winning strategies, drivers & opportunities, market size & estimations, competitive landscape, changing market trends, and key drivers and opportunities.
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The global adventure tourism market is growing due to various factors such as rising income levels in emerging regions, decreasing costs associated with air travel and accommodation, the co-evolution of mobile applications, big data analytics, and artificial intelligence in the expanding tourism industry, and high internet penetration.
According to CXO, the adventure tourism market is expected to witness steady growth due to economic growth and the rising trend of adventure travel. Adventure seekers are primarily motivated by transformative experiences. Moreover, increasing competition among airlines, availability of affordable airlines, and liberal travel and immigration laws are fueling the market growth.
By type, the soft segment will hold the major market share in 2022, garnering more than half of the global adventure tourism market revenue, and is expected to maintain its dominance throughout the forecast period. The same segment will also manifest the fastest CAGR of 19.7% from 2023 to 2032. This is because the activities in this category are of medium to low risk, making them highly accessible to people across age groups. Moreover, there is an increasing inclination towards experiencing and learning about natural environments among tourists, especially the elderly.
Based on activities, the land-based activities segment is expected to hold the highest market share in 2022, accounting for more than half of the global adventure tourism market revenue, and is projected to dominate the market by 2032. This is because land-based activities are often easier for travelers and require less financial investment. On the other hand, the aerial activities segment will exhibit the highest CAGR of 20.2% from 2023 to 2032, as it offers people the adventurous experience of flight and thrills, attracting younger travelers.
Based on age group, the 30-41 years old segment is expected to hold the largest market share in 2022, accounting for more than two-fifths of the global adventure tourism market revenue, and maintain its largest share throughout the forecast period. The same segment is expected to manifest the fastest CAGR of 19.8% from 2023 to 2032. This is because people in this age group can afford to travel frequently to different parts of the world, which will positively impact the growth of the tourism industry across the globe.
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Based on sales channel, the direct sales segment accounted for the highest market share in 2022, accounting for nearly three-fifths of the global adventure tourism market revenue, and is expected to maintain its top position during the forecast period. The same segment will also register the fastest CAGR of 19.7% from 2023 to 2032, owing to the ease of travel arrangements due to improved technology.
Regionally, Asia Pacific is expected to witness the highest growth during the forecast period as the adventure tourism market in Asia Pacific attracts a large number of adventure travelers from across the globe to explore a variety of activities including wildlife sanctuaries and national parks such as the Sundarbans in India, Mt. Everest in Nepal, and rainforests in Borneo, as well as whale watching and kiwi scouting in New Zealand.
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β The report provides quantitative analysis of market segments, current trends, estimations, and developments of Adventure Tourism market analysis from 2022 to 2032 and identifies general Adventure Tourism market opportunities.
β The market research is provided with information related to key drivers, restraints, and opportunities.
o Porterβs five forces analysis highlights the potential of buyers and suppliers, enabling the parties to make profit-driven business decisions and strengthen the supplier-buyer network.
β A detailed analysis of adventure tourism market segmentation helps in identifying current market opportunities.
β Major countries in each region are mapped according to their revenue contribution to the global market.
o Positioning of market players facilitates benchmarking and provides a clear picture of where the market players are currently positioned.
β The report includes an analysis of regional and global Adventure Tourism market trends, key players, market segments, application areas, and market growth strategies.
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