Emphasis on Traveler Type (Solo, Group); Age Group (Generation X, Generation Y, Generation Z); Sales Channel (Travel Agent, Direct); Region/Country
The global Ecotourism Market is Expected to Display an Elevated CAGR over the forecast period (2021-2027)
The emerging tour and travel industry across the globe owing to the rising number of solo travelers, rising disposable income, etc., is contributing to the growth of the ecotourism market. As per World Travel and Tourism Council, the Asia-Pacific tour and travel industry contributed around 9.8 to the GDP in 2021 worth USD 3,294.3 Bn. Moreover, the government’s plan for ecotourism is acting as a growth catalyst for the industry. For instance: In 2020, Malaysia launched a 10-year plan to focus on ecotourism and prepare for future disasters, and restart its battered tourism sector, which is estimated to have lost more than 100 billion ringgit ($24.61 billion) this year due to the coronavirus pandemic. Moreover in 2022, the environment ministry in India releases a list of 90 potential eco-tourism sites. Furthermore, ecotourism is becoming a favored choice for Chinese people, as they now prefer to visit places that have thick forests and plentiful vegetation as well as being rich in negative ions. The department of ecology and environment in east China’s Zhejiang province unveiled an “ecotourism map”, which consists of 21 ecotourism sites, to meet people’s growing demand for diversified ecotourism products.
Furthermore, Ecotourism is becoming a favored choice for Chinese people, as they now prefer to visit places that have thick forests and plentiful vegetation as well as being rich in negative ions. China has become one of the most popular travel destinations in the world. The UNWTO World Tourism Rankings rank China as the third most visited country in the world. In 2015, China draws in a crowd of 55.6 million international visitors staying overnight on the mainland. These visitors are mostly coming to China for sightseeing and leisure activities. The Chinese Ministry of Environmental Protection or the MEP stated that 2,541 nature reserves are covering 147 million hectares or 14.7% of China. 80% of these reserves have some form of ecotourism. With its rich natural landscape and features, China has beautiful natural scenery tourists are thirsty for.
Total Contribution of Travel & Tourism to GDP (USD Bn) & Total contribution of Travel & Tourism to Employment, 2019
Adventure Alternative Ltd, Arcari Travel, Frosch International Travel, Inc, G Adventures, Intrepid Group Limited, Rickshaw Travel Group, Small World Journeys Pty Ltd, Steppes Travel Ltd, Travel Leaders Group, Llc, Undiscovered Mountains Ltd, etc., are some of the prominent players operating in the Ecotourism market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with innovative products.
Insights Presented in the Report
“Amongst traveler type, group segment to grab major market share”
Based on the traveler type, the market is fragmented into solo and group. The group segment grabbed the major market share and dominated the market in 2020. An emerging number of tour and travels company across the globe is leading to the growth of the solo segment. As per the Indian ministry of tourism, there were 902 tour operators in the country. The solo traveler segment is poised to grow with a higher CAGR during the forecast period. There has been a significant increase in people who want to travel solo, and this has encouraged travel companies as well as travel agents to provide facilities not only for group travelers but also for people who travel alone.
“Amongst age group, Generation Y segment dominated the market in 2020”
Based on the age group, the market is fragmented into Generation X, Generation Y and Generation Z. Generation Y segment grabbed the dominating market share in 2020. As per the Ministry of Foreign Affair, Generation Y or millennial travelers offer a huge market, which already accounts for approximately 40% of all travel expenditure in Europe. However, Gen Z is expected to witness a higher CAGR in the forthcoming years.
“Amongst sales channel, travel agent segment to dominate the market in forthcoming years”
Based on the sales channel, the market is fragmented into travel agents and direct. The travel agents segment grabbed the dominating market share in 2020. As per the Bureau of Labor Statistics, there were 37,190 travel agents in the United States as of May 2021. The merging number of travel agents across the globe is leading to the growing share of this segment
“Asia Pacific represents one of the largest markets of Ecotourism market”
For a better understanding of the market adoption of the ecotourism market, the market is analyzed based on its worldwide presence in the countries such as North America (the United States and Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific region grabbed major market for the ecotourism market industry. However, the North America region would witness a considerable CAGR during the forthcoming years.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Ecotourism Covid-19 Impact
6. Global Ecotourism Revenue, 2019-2027f
7. Market Insights By Traveller Type
8. Market Insights By Age Group
9. Market Insights By Sales Channel
10. Market Insights By Region
11. Ecotourism Dynamics
12. Ecotourism Market Opportunities
13. Ecotourism Market Trends
14. Legal & Regulatory Framework
15. Demand And Supply Side Analysis
16. Value Chain Analysis
17. Competitive Scenario
18. Company Profiled
19. Disclaimer
Research Methodology for the Global Ecotourism Market Analysis (2021-2027)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Ecotourism market were the three major steps undertaken to create and analyze the demand for Ecotourism across major regions. 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 Ecotourism market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast 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:
Seek More Details About Research Methodology
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the Ecotourism 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 Ecotourism market, we conducted a detailed secondary analysis to gather historical market insights and share of the traveler type, age group, and sales channel for major regions. Major segments included in the report are age group and sales channel. Further region and country-level analyses were conducted to evaluate the overall adoption of Ecotourism across the globe.
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 Ecotourism. Further, we conducted factor analysis using dependent and independent variables such as the rising disposable income, rising investment in the hospitality sector, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Ecotourism industry 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 Ecotourism 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, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach were applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
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.
Split of Primary Participants in Different Regions
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 Ecotourism market. Data was split into several segments and sub-segments post studying various parameters and trends in the areas of traveler type, age group, and sales channel of the Ecotourism market.
Main Objective of the Ecotourism Market Study
The current & future market trends of Ecotourism 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:
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November 7, 2024
