Increase in tourism promotion, and surge in accessibility of transport facilities
According to a new report published by Allied Market Research, titled, “Adventure Tourism Market by Type, Activity, Type Of Travelers, Age Group, Sales Channel and Region: Global Opportunity Analysis and Industry Forecast, 2021–2028,” The adventure tourism market size was valued at $112,227 million in 2020 and is estimated to reach the market value of $1,169,095 million by 2028, growing at a CAGR of 20.1% from 2021 to 2028. By type, the soft segment was the most prominent segment accounting for $37,595 million in 2020. It is expected to reach the market size of $380,687 million by 2028 growing at a CAGR of 20.1% throughout the forecast period. By activity, the land-based activity segment was the most prominent category in 2020 and is expected to remain dominant throughout the forecast period.
Adventure tourism involves exploration or travel to remote exotic areas. It includes unique and challenging experiences during the vacation, in which travelers interact with local populations and connect with their core values.
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Growth of the adventure tourism market 2021–2028
The growth of the adventure tourism market is attributed to the presence of attractive landscape and availability of a large variety of activities within different cities of the country. Furthermore, strategic marketing initiatives taken by players in the industry couple with increase in government initiatives to promote tourism drives the global industry. However, risk involved in adventure travelling and unpredictable weather conditions act as the hindrance to the growth of the market worldwide. These factors might lead to failure of adventure tourism, thereby hampering the growth of the market. Conversely, increase in social media networking and growing popularity of travel blogging/video logging in the social media platforms such as Instagram, and twitter is further expected to pique the interest of travelers around the world. This is expected to increase the popularity of tourism industry making way for adventure tourism market growth.
The global adventure tourism market is segmented on the basis of type, activity, type of traveler, age group, and sales channel.
By type, the market has been classified into hard, soft, and others.
By activity, the market has been divided into land-based activity, water-based activity, and air-based activity.
By type of traveler, the market has been classified into solo, friends/group, couple, and family.
By age group, it is categorized into below 30 years, 30–41 years, 42–49 years, and 50 years & above.
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The sales channel segment includes travel agent and direct. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players in the adventure tourism industry :-
AUSTIN ADVENTURES, INC
BUTTERFIELD & ROBINSON INC
GEOGRAPHIC EXPEDITIONS INC’
INTREPID GROUP, LTD
MOUNTAIN TRAVEL SOBEK
RECREATIONAL EQUIPMENT, INC
Key findings of the study
By type, the soft segment is projected to witness the highest CAGR of 20.8% in revenue terms during the forecast period.
By activity, the land-based activity segment is expected to dominate the market through 2021-2028.
By type of traveler, the couple segment was the largest and the fastest growing market segment.
By age group, the couple segment was the dominant segment in 2020.
By sales channel, direct was the most prominent segment in 2020.
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Q1. What will be the Adventure Tourism Market Size From 2021 to 2028?
Q2. What is the CAGR of Adventure Tourism Market?
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Q4. What companies have been profiled in the Adventure Tourism Market report?
Q5. What are the segments of Adventure Tourism Market?
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TABLE OF CONTENT :-
1.2.Key benefits for stakeholders
1.3.Key market segments
1.5.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.Adventure tourism market snapshot
2.2.Key findings of the study
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.1.Top investment pockets
3.3.Porter’s five forces analysis
188.8.131.52.Development of the global travel & tourism industry
184.108.40.206.Rise in disposable income
220.127.116.11.Pursuit of unique experiences to augment the tourism industry
18.104.22.168.Mobile applications, big data analytics, and artificial intelligence evolving together amidst proliferating tourism industry
22.214.171.124.High penetration of internet
126.96.36.199.Increase in terrorism & crime rate, political uncertainty, and natural calamities
188.8.131.52.Rise of social media positively impacting the travel industry
184.108.40.206.Heavy investment for better infrastructure
3.5.COVID-19 impact analysis
3.5.2.Impact on adventure tourism market