Adventure Tourism Market to Grow at 28.8% CAGR by 2030
Consistently growth in government initiatives along with growth in disposable income as well as affordable prices followed by growing inclination towards adventure sports are expected to drive the growth of adventure tourism industry during the forecast period of 2021-2030.
The Adventure Tourism Market is expected to grow at the CAGR of 28.8% from 2021-2030, according to a new research report by Next Move Strategy Consulting
Adventure tourism involved the travelling of places with different activities which includes certain amount of risk associated with these activities. These activities involve the use of all the safety equipments such as helmets, harness, and others to ensure the maximum safety of individual. The adventure tourism involves wide range of activities such as climbing, hiking, rafting and many more.
According to the report, there has been constant growth tourism industry along with the growth in young population. There has been enhanced inclination towards adventure sports along with the growing travelling around new & different places are also likely to propel the market growth. In addition, promising government initiatives to promote the tourism activities along with industry on a global scale which in turn increased partnerships with other activities. On the other hand, surge in disposable income as well as affordable prices are also likely to fuel the market growth. Moreover, growing integration of technology along with smart devices tend to bring change in market trends over the forecast period.
However, potential risk involved with adventure tourism may lead to accidents which in turn restrict the market growth. Moreover, constant launch of tour packages with well developed facilities along with improved promotional activities are anticipated to provide numerous opportunities to the market in the coming few years.
On the basis of types, the adventure tourism market share is segmented into hard, soft and others. In terms of market share soft tourism accounts for the major share and will be dominant during the forecasted period.
On the basis of activity, the adventure tourism market is categorised into Land Based Activity, Water Based Activity, and Air Based Activity. Air based activity is likely to projected the significant CAGR over the forecast period and maintain its dominance over the period of time.
Based on age group, the market is fragmented into Below 30 Years, 30 to 41 Years, 42 to 49 Years, and 50 Years & above. The age group of 30 to 41 years is expected to grow rapidly with significant CAGR and maintain in dominance during the forecast period.
On the basis of traveller type, the market is categorized into solo, group, couple & family. The couple segment is likely to develop extensively with fastest CAGR during the forecast period and dominate the market growth.
North America is likely to account for the highest market size & share of the adventure tourism market in the forecast period 2020–2030 owing to the high disposable income as well as huge interest in adventure sports along with growing trends of visiting around new places. Europe accounts for the second leading position in the adventure tourism market size. Asia Pacific is expected to be the fastest developing region in the adventure tourism market which is majorly driven by rising government initiatives along with affordability. Moreover, growth in young population followed by improvement in disposable income is also expected to enhance the market growth.
According to the report, some the key players in the adventure tourism market are G Adventures Inc., Austin Adventures, Inc., Mountain Travel Sobek, ROW Adventures, TUI AG., REI Adventures, Intrepid Group Limited, InnerAsia Travel Group, Inc., Abercrombie & Kent Group of Companies S.A. and Butterfield & Robinson Management Services, Inc.
Browse key industry insights from the report at https://www.nextmsc.com/report/adventure-tourism-market in detail along with the table of contents:
Key Insights from the Adventure Tourism Market Report:
- Asia Pacific is the fastest growing Adventure Tourism market owing to the rising demand for the adventure tourism along with government initiatives as well as better affordability accompanied with developed disposable income.
- The air based activities, couple traveller with age groups of 30-41 years of age the segment and is expected to grow at significant CAGR to maintain the led in 2030.
- Some of the major players in the market are G Adventures Inc., Austin Adventures, Inc., Mountain Travel Sobek, ROW Adventures, TUI AG., REI Adventures, Intrepid Group Limited, InnerAsia Travel Group, Inc., Abercrombie & Kent Group of Companies S.A. and Butterfield & Robinson Management Services, Inc.
The report Adventure Tourism market – segmented by type, activity, type of travellers, age group and geography
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