Emphasis on Type (Hard and Soft); Activity (Land-based, Water-based, and Air-based); Type of Travelers (Solo, Couple, Family, and Group); Booking Mode (Direct, Travel Agent, and Marketplace Booking); and Region/Country
Adventure Tourism Market Size & ForecastThe Adventure Tourism Market was valued at approximately ~USD 450 billion in 2023 and is expected to grow at a strong CAGR of around 15% during the forecast period (2024-2032) owing to the increased number of travelers globally.
Adventure tourism caters to a large number of people directly and indirectly through employment opportunities and infrastructure. Combining the efficiency of using tourism as an economic driver with concerns and management of its impact on the environment is important to achieve its sustainability and low impact on the environment in these areas. Company collaborations, acquisitions, and innovative scheme launches drive the industry’s growth.
For instance, in July 2024, Mountain Travel Sobek was honored as the #1 Best Adventure Travel Company by Newsweek in its annual Readers’ Choice Awards. This accolade recognizes MT Sobek’s exceptional dedication to delivering extraordinary travel experiences and unwavering commitment to guest satisfaction.
Also, Gujarat Tourism’s pre-Vibrant Summit held in Gujrat in December 2023, announced to focus on making India amongst the top adventure tourism destinations in the world.
This section discusses the key market trends that are influencing the various segments of the adventure tourism market, as identified by our team of research experts.
The trend of the couple segment for adventure tourism has emerged more drastically in the past few years due to an increase in preference for romantic and experiential travel. A major trend that is emerging is the quest for novelty and fun in an environment the couples can share and have fun together while on an adventurous trip. These include trekking to obscure areas, going on wildlife viewing trips, observing sea creatures through diving and snorkeling, and even taking part in thrilling activities like zipline and bungee jumping among others. This trend is due to an interest in having memorable experiences that can foster connections, generate new narratives, and accommodate close connections in the context of beautiful surroundings. In response to increased competition, tour operators and travel agencies have been forced to come up with calibrated adventure product lines for two, which are normally associated with luxury accommodations, private guides, and intimate dining. The preference for travel that enables tourists to have interesting experiences is on the rise and due to this the couple segment in adventure tourism is anticipated to develop further spreading different opportunities for adventurous couples globally.
North American adventure tourism has been steadily growing and is fueled by several aspects. Higher disposable income, a strong culture for outdoor activities, and a rising trend in the use of experience by both domestic and international travelers. Some of the common activities include trekking, camping, boating, and wildlife viewing and these are accredited by the relative development of accommodation, transport, and other services coupled with the availability of large tracks of natural land from mountainous national parks to coastal belts. Continued advances in adventure travel as well as offering eco-lodges and practicing responsible tourism also appeal to the conscience-travel consumer. Such market growth was not only beneficial to local economies through the development of tourist earnings, but; it was also helpful to the conservation and exchanging of cultural services and internationalization of the North American market as a top-notch international market for adventurers around the world.
The adventure tourism market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Austin Adventures; Butterfield & Robinson; G Adventures; GEOGRAPHIC EXPEDITIONS, INC.; Intrepid Group Pty Limited; Mountain Travel Sobek; Discovery Nomads; ROW Adventures; TUI AG; Cox & Kings.
The global adventure tourism market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology Or Assumption
3. Executive Summary
4. Market Dynamics
5. Pricing Analysis
6. Global Adventure Tourism Market Revenue (usd Bn), 2022-2032f
7. Market Insights By Type
8. Market Insights By Activity
9. Market Insights By Type Of Travelers
10. Market Insights By Booking Mode
11. Market Insights By Region
12. Value Chain Analysis
13. Competitive Landscape
14. Company Profiles
15. Acronyms & Assumption
16. Annexure
Analyzing the historical market, estimating the current market, and forecasting the future market of the global adventure tourism market were the three major steps undertaken to create and analyze the adoption of adventure tourism in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global adventure tourism market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the adventure tourism market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the adventure tourism market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report, such as type, activity, type of travelers, booking mode, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the adventure tourism market. Further, we conducted factor analysis using dependent and independent variables such as type, activity, type of travelers, booking mode, and regions of the adventure tourism market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the adventure tourism market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global adventure tourism market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global adventure tourism market. Data was split into several segments and sub-segments after studying various parameters and trends in the areas of the type, activity, type of travelers, booking mode, and regions in the global adventure tourism market.
The current & future market trends of the global adventure tourism market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the adventure tourism market's current market size and growth potential?
Q2: What are the driving factors for the growth of the adventure tourism market?
Q3: Which segment has the largest share of the adventure tourism market by type?
Q4: What are the emerging technologies and trends in the adventure tourism market?
Q5: Which region will dominate the adventure tourism market?
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