Increase in tourism promotion, and surge in accessibility of transport facilities
According to a new report published by Allied Market Research, titled, “Adventure Tourism Market by Type, Activity, Type Of Travelers, Age Group, Sales Channel and Region: Global Opportunity Analysis and Industry Forecast, 2021–2028,” The adventure tourism market size was valued at $112,227 million in 2020 and is estimated to reach the market value of $1,169,095 million by 2028, growing at a CAGR of 20.1% from 2021 to 2028. By type, the soft segment was the most prominent segment accounting for $37,595 million in 2020. It is expected to reach the market size of $380,687 million by 2028 growing at a CAGR of 20.1% throughout the forecast period. By activity, the land-based activity segment was the most prominent category in 2020 and is expected to remain dominant throughout the forecast period.
Adventure tourism involves exploration or travel to remote exotic areas. It includes unique and challenging experiences during the vacation, in which travelers interact with local populations and connect with their core values.
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Demand and Growth of the market :-
The growth of the adventure tourism market is attributed to the presence of attractive landscape and availability of a large variety of activities within different cities of the country. Furthermore, strategic marketing initiatives taken by players in the industry couple with increase in government initiatives to promote tourism drives the global industry. However, risk involved in adventure travelling and unpredictable weather conditions act as the hindrance to the growth of the market worldwide. These factors might lead to failure of adventure tourism, thereby hampering the growth of the market. Conversely, increase in social media networking and growing popularity of travel blogging/video logging in the social media platforms such as Instagram, and twitter is further expected to pique the interest of travelers around the world. This is expected to increase the popularity of tourism industry making way for adventure tourism market growth.
The key players profiled in the report include :-
AUSTIN ADVENTURES, INC
BUTTERFIELD & ROBINSON INC
G ADVENTURES
GEOGRAPHIC EXPEDITIONS INC’
INTREPID GROUP, LTD
MOUNTAIN TRAVEL SOBEK
DISCOVERY NOMADS
ROW ADVENTURES
TUI GROUP’
RECREATIONAL EQUIPMENT, INC
FREQUENTLY ASKED QUESTIONS?
Q1. What will be the Adventure Tourism Market Size From 2021 to 2028?
Q2. What is the CAGR of Adventure Tourism Market?
Q3. How can I get sample report of Adventure Tourism Market?
Q4. What companies have been profiled in the Adventure Tourism Market report?
Q5. What are the segments of Adventure Tourism Market?
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Key findings of the study
By type, the soft segment is projected to witness the highest CAGR of 20.8% in revenue terms during the forecast period.
By activity, the land-based activity segment is expected to dominate the market through 2021-2028.
By type of traveler, the couple segment was the largest and the fastest growing market segment.
By age group, the couple segment was the dominant segment in 2020.
By sales channel, direct was the most prominent segment in 2020.
TABLE OF CONTENT :-
CHAPTER 1:INTRODUCTION
1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology
1.4.1.Secondary research
1.4.2.Primary research
1.5.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.Adventure tourism market snapshot
2.2.Key findings of the study
2.3.CXO perspective
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Porter’s five forces analysis
3.4.Market dynamics
3.4.1.Drivers
3.4.1.1.Development of the global travel & tourism industry
3.4.1.2.Rise in disposable income
3.4.1.3.Pursuit of unique experiences to augment the tourism industry
3.4.1.4.Mobile applications, big data analytics, and artificial intelligence evolving together amidst proliferating tourism industry
3.4.1.5.High penetration of internet
3.4.2.Restraints
3.4.2.1.Increase in terrorism & crime rate, political uncertainty, and natural calamities
3.4.3.Opportunity
3.4.3.1.Rise of social media positively impacting the travel industry
3.4.3.2.Heavy investment for better infrastructure
3.5.COVID-19 impact analysis
3.5.1.Introduction
3.5.2.Impact on adventure tourism market
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