Adventure Tourism Market 2025


Posted January 19, 2021 by sandycool

global adventure tourism market was assessed at $ 686.3 billion in 2020 and is predicted to reach $ 1,626.7 billion by 2025, developing at a CAGR of 13.3% from 2020 to 2025.
 
Market overview:

The Global Adventure Tourism Market was worth USD 686.5 billion in 2020, and it is foreseen to reach a valuation of USD 1.6 billion, registering a CAGR of 13.3% during the outlook period 2021-2026.

Adventure tourism is a type of niche tourism, which involves exploring or traveling to remote exotic areas at considerable risk. This includes exceptional and challenging vacation experiences where travelers interact with local residents and connect with core values. Adventure tourism includes a variety of activities such as hunting, hiking, cycling, caving, rafting, and more, along with field exploration, nature exploration, discovery of exotic destinations. and excursions to other places. This niche tourism not only involves some degree of perceived risk or physical risk, but it may also require special skills and physical activity.

Market Drivers and Restrains:

The increase in travelers wanting to visit new destinations around the world is a key factor expected to drive global Adventure tourism market growth during the forecast period. The worldwide market is being driven by the exponential growth of the tourism industry. In addition, the rising need for adventure sports, the exploration of unknown destinations, the increase in disposable income and the propensity of young people for reasonable travel packages are estimated to drive the market boom. Increased government initiatives in the form of public-private partnerships to promote tourism, increased travel trends on social media, high competition among travel agencies for the provision of affordable travel packages, reduction in travel restrictions and economic development are driving momentum of the adventure tourism market. Also, travelers are interested in visiting unknown destinations for pleasure. Since Facebook has become the preferred social media site among travelers for the best travel deals, the rise in social media trends is supposed to provide favorable opportunities for market growth.

Furthermore, the relaxation of travel restrictions and aggressive tourism promotion strategies adopted by many countries around the world are expected to boost the growth of the global market. However, unpredictable weather conditions and risks associated with Adventure tourism limit the growth of the market. Also, the high costs associated with adventure activities are another factor that can hamper the growth of the industry a bit.

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Report is segmented as:

By type, the global adventure tourism market is segmented into soft, hard and others. The soft adventure segment is expected to account for a large share in terms of revenue as the preference for soft adventure tourism activities such as trekking, wildlife viewing, cycling, skiing, boating and others in more.

By activity, the market is segmented into water, land and air activities. The land activities segment is supposed to occupy a significant share in terms of income in the global market, as the propensity of individuals to increase wildlife and land activities such as jeep safaris, trekking and bird watching.

Depending on the type of traveler, the market is divided into groups, couples, alone and families.

According to the age group, the market is divided into 30-41, 42-49 and 50 years.

Geographical Segmentation:

The Asia Pacific region is expected to record highest growth rate for adventure tourism market during the outlook period. The increase in tourists, the increase in disposable income, the availability of several national parks and wildlife sanctuaries and the reduction of travel restrictions in several countries in the region are some of the factors that are foreseen to drive the growth of the Asia Pacific adventure tourism market. Europe is likely to dominate the target market in terms of revenue after the North American market due to its well-developed tourism sector and the high preference for visiting countries from the region among travellers. The Latin American, Middle East and African markets are predicted to experience significant growth in terms of sales as tourists' awareness of the various adventure destinations of the countries in the region increases.

Impact of COVID-19 on Adventure Tourism Market:

The unprecedented coronavirus outbreak had its worst impact on the travel and tourism industry. The temporary lockdown conditions have made people stuck to their homes, affecting the adventure tourism market. With the relaxation in these lockdown conditions, the business is supposed to bounce back soon.

Key market players:

The main players in the Adventure tourism market are REI Adventures, Travelopia, G Adventures, Abercrombie & Kent Group, Butterfield & Robinson, Intrepid Travel, Natural Habitat Adventures, Austin Adventures, Mountain Travel Sobek.

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

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Last Updated January 19, 2021