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The adventure tourism market is segmented on the basis of type, activity, type of traveler, age group, sales channel, and region.
These factors might lead to the failure of adventure tourism, thereby hampering the growth of the market the basis of age group, the 30 to 41 years segment was the dominant market in 2022.” - Allied Market Research
WILMINGTON, DELAWARE , UNITED STATES, August 21, 2024 /EINPresswire / -- Adventure tourism is a form of travel that includes activities like hiking, biking, camping, and other outdoor activities in natural or remote locations. These activities often involve risk and challenge the physical and mental capabilities of the travelers. These activities provide adrenaline, excitement, and a connection with nature.
The adventure tourism market size was valued at $324.90 billion in 2022, and is estimated to reach $1947.5 billion by 2032, growing at a CAGR of 19.5% from 2023 to 2032.
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On the basis of type of traveler, the couple segment was the highest contributor to the adventure tourism market in 2022 and is estimated to grow at a notable CAGR of 19.9% from 2023 to 2032. The family segment is expected to witness modest growth throughout the forecast period. On the basis of age group, the 30 to 41 years segment was the dominant segment in 2022. The growth in this segment may be attributed to the fact that people in this age group are financially stable and also have the energy and health to go on different adventures/activities.
Europe garnered the major share in 2032-
By region, the Europe region held the major share in 2022, accounting for more than one-third of the global adventure tourism market revenue, and is likely to dominate the market throughout the forecast period. Europe being a developed nation has a very evolved travel and tourism infrastructure. In addition, the climate in the region remains quite pleasant, which further attracts travelers to this region. The Asia-Pacific region, simultaneously, would exhibit the fastest CAGR of 20.7% by 2032. This is due to the economic growth, increase in competition, ease of travel restrictions, and aggressive promotion strategies adopted by the regional tourism organizations contribute toward the growth of the adventure tourism market.
Adventure Tourism Market Segmentation
By Type
Hard
Soft
Others
By Activity
Land Based Activity
Water Based Activity
Air Based Activity
By Type of Traveler
Solo
Friends/Group
Couple
Family
By Age Group
Below 30 Years
30 to 41 Years
42 to 49 Years
50 Years and Above
By Sales Channel
Travel Agents
Direct
By Region
North America (U.S., Canada, Mexico)
Europe (UK, Germany, Switzerland, Norway, Italy, Rest of Europe)
Asia-Pacific (India, China, New Zealand, Australia, Japan, Rest of Asia-Pacific)
LAMEA (Saudi Arabia, UAE, Qatar, Oman, Kuwait, Rest Of Middle East, Africa, Latin America)
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Key findings of the study
On the basis of type, the soft segment is projected to witness the highest CAGR during the forecast period.
On the basis of activity, the land-based activity segment dominated the market in 2022.
On the basis of type of traveler, the couple segment was the largest and the fastest-growing market segment in 2022.
On the basis of age group, the 30 to 41 years segment was the dominant market in 2022.
On the basis of sales channel, direct was the most prominent segment in 2022.
On the basis of region, Europe dominated the market in 2022.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the adventure tourism market analysis from 2022 to 2032 to identify the prevailing adventure tourism market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the adventure tourism market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global adventure tourism market trends, key players, market segments, application areas, and market growth strategies.
Key players in the industry-
Austin Adventures, Inc.
Butterfield And Robinson Inc.
Discovery Nomads LLC
G Adventures Inc.
Geographic Expeditions Inc.
Intrepid Group Pty Limited
Mountain Travel Sobek
Recreational Equipment, Inc.
ROW Adventures
TUI AG
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David Correa
Allied Market Research
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