(MENAFN- PR Newswire) DUBLIN, May 10, 2023 /PRNewswire/ --
The "destination wedding global market report 2023" report has been added to
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This reportprovides strategists, marketers and senior management with the critical information they need to assess the market.
The global destination wedding market grew from $21.31 billion in 2022 to $28.31 billion in 2023 at a compound annual growth rate (CAGR) of 32.8%. The destination wedding market is expected to grow to $78.89 billion in 2027 at a CAGR of 29.2%.
Major players in the destination wedding market are White eden weddings, FiestaSol, Magical weddings, Sparkles & Bubbles, Peach Perfect Weddings, The Wedding Travel Company, LM Wedding Planner, Jennifer Fox Weddings, The Destination Wedding, Wedding Planner Roma, Studio Brzak Events, ALL THINGS BEAUTIFUL, Planned For Perfection, Tropical Wedding & Honeymoon, BAQAA Glamour Weddings & Events, Vivaah Weddings, The Big Night, Shehnaiyan, Impressario Inc., and Revel Events.
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Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies. Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates. Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market. Measure the impact of high global inflation on market growth. Create regional and country strategies on the basis of local data and analysis. Identify growth segments for investment. Outperform competitors using forecast data and the drivers and trends shaping the market. Understand customers based on the latest market shares. Benchmark performance against key competitors. Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Destination wedding refers to weddings that take place outside of the city or town where the soon-to-be-married couple resides. The destination wedding services involve planning, booking, and assistance with various ceremonies. The term destination wedding refers to a wedding that is planned ahead of time in a location, usually a high-end resort, where the couple, wedding party, and guests stay for roughly a week and where all wedding-related activities take place.
The types of seasons in destination weddings are high season, mid-season, low season, and mid-peak season. The high season refers to the months in which most weddings occur. The high season starts in the late winter and lasts till the end of summer. The main activities included in a destination wedding are accommodation services, food services, butler services, and other services.
The functions that take place during the wedding include pre-wedding ceremonies, wedding ceremonies, receptions, bachelor's parties, and other types of functions. The venues of the destination wedding could be national or international wedding destinations. The channels of booking for these destinations will be through phone, online, and in-person booking.
The destination wedding market research report is one of a series of new reports that provides Destination wedding market statistics, including destination wedding industry global market size, regional shares, competitors with a destination wedding market share, detailed Destination wedding market segments, market trends and opportunities, and any further data you may need to thrive in the destination wedding industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Eco-friendly weddings in natural locations have emerged as a key trend gaining popularity in the destination wedding market. People are attempting to be more environmentally conscious these days, which is why they are opting for eco-friendly weddings in natural settings. Destination wedding service providers provide incredibly sustainable and natural sites, which helps the market flourish.
For instance, according to a 2022 real weddings survey by Theknot, a US-based wedding planning company, 70% of couples agreed if they planned to have a marriage in 2022 to include environment-friendly activities and decor such as buying second-hand or up-cycled items, using recycled paper items, and minimizing the use of single-use plastic. One-third of the couples believed that the vendors should be more proactive in providing eco-friendly solutions.
North America was the largest region in the destination wedding market in 2022. The regions covered in the destination wedding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the destination wedding market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The rising penetration of social media is expected to propel the growth of the destination wedding market growing forward. Websites and programs that emphasize communication, community-based input, engagement, content-sharing, and collaboration are collectively referred to as social media. It can be challenging to unplug, even during the most important moments of life such as weddings, because Snapchat, Instagram, and Facebook have ingrained themselves so deeply into daily existence. Particularly during destination weddings, a variety of photo and video opportunities are available.
For instance, according to Pew research center, a nonpartisan fact provider, in 2021 72% of American people used at least one social media. Furthermore, according to an article published by Willow Wedding, a US-based wedding planner, in the US, 83% of wedding planning is now done online where 62% of couples create their wedding site, 52% use a wedding planning app and 54% implement a wedding hashtag on social media. Therefore, the rising penetration of social media is driving the growth of the destination wedding market.
The destination wedding market includes revenues earned by entities by providing services such as decor and design, destination and venue selection, entertainment, pre wedding celebrations, wedding communication, and logistics. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Key Topics Covered:
1. Executive Summary
2. Destination Wedding Market Characteristics
3. Destination Wedding Market Trends And Strategies
4. Destination Wedding - Macro Economic Scenario
4.1 COVID-19 Impact On Destination Wedding Market
4.2 Ukraine-Russia War Impact On Destination Wedding Market
4.3 Impact Of High Inflation On Destination Wedding Market
5. Destination Wedding Market Size And Growth
5.1. Global Destination Wedding Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Destination Wedding Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Destination Wedding Market Segmentation
6.1. Global Destination Wedding Market, Segmentation By Function, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Pre-Wedding Ceremonies Wedding Ceremonies Reception Bachelor's Party Other Functions
6.2. Global Destination Wedding Market, Segmentation By Inclusion And Activity, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Accommodation Services Food Service Butler Services Other Services
6.3. Global Destination Wedding Market, Segmentation By Season, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
High Season Mid-Season Low Season Mid-Peak Season
6.4. Global Destination Wedding Market, Segmentation By Venues, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.5. Global Destination Wedding Market, Segmentation By Booking Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Phone Booking Online Booking In Person Booking
7. Destination Wedding Market Regional And Country Analysis
7.1. Global Destination Wedding Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Destination Wedding Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
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