As per the report published by Allied Market Research, the global enotourism market generated $8.65 billion in 2020, and is expected to reach $29.59 billion by 2030, registering a CAGR of 13.6% from 2021 to 2030.
Rise in government initiatives, increase in disposable income, and expansion of travel and tourism industry drive the growth of the global enotousism market. However, lack of awareness and strict regulations of government hinder the market growth. On the other hand, rise in wine consumption in Asia-Pacific and South American regions and distinct cultural heritage at the local and regional levels are expected to open new opportunities for the market players in the future.
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Wine, according to the insights of CXOs of leading companies, is an essential component for the growth of enotourism because it can serve as the foundation for a number of tourism-attracting businesses. Enotourism is a new type of tourism. Enotourism is also known as oenotourism, vinitourism, or wine tourism.
The majority of winery visits take place at or near the production site of winery. Typically, visitors learn about the history, observe the winemaking process, and then taste the wines. Staying in a small winery guest house is also available at some wineries. Many visitors purchase the wine on-site, accounting for up to 33% of annual sales.
Throughout the first decade of the twenty-first century, the enotourism industry grew significantly. In the U.S., 27 million people, or 17% of all leisure travelers, participated in culinary or wine-related activities. In Italy, the number of tourists is estimated to be approximately around five million, with total revenue of $2.93 billion.
Every year on the second Sunday of November; Germany, Austria, Slovenia, Spain, France, Greece, Hungary, Italy, and Portugal commemorate “Enotourism Day” to promote cellar visits. The first Wine Tourism Day in North America was announced on May 11, 2013, with events scheduled across the continent. Enotourism industry of Chile has grown in recent years, with several tourist routes emerging across the country, many of which include overnight accommodations.
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The report segments the global enotourism market on the basis of tour type, traveler type, age group, and region.
Based on tour type, the self-guided tour segment is expected to portray the highest CAGR of 13.8% during the forecast period. However, the private guided tours segment held the largest share in 2020, contributing to more than two-thirds of the market.
On the basis of traveler type, the solo segment is projected to manifest the highest CAGR of 13.8% during the forecast period. However, the group segment held the lion’s share in 2020, accounting for more than four-fifths of the market.
The global enotourism market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe dominated in 2020, holding nearly two-fifths of the market. In addition, the region is projected to showcase the highest CAGR of 14.4% during the forecast period.
The global enotourism market report includes an in-depth analysis of the prime market players such as 290 Wine Shuttle, A Great Oregon Wine Tour, Arblaster and Clarke Wine Tours, Bulgaria Wine Tours, Burdick Vineyard Tours, California Wine Tours, Cloud Climbers Jeep and Wine Tours, Discover Texas Wine Tours, Grape Escapes Wine Tours, and Iowa Wine Tours Inc.
As the importance of enotourism increases, regions must deal with the consequences of continued success, such as crowds and higher tasting room fees. This may have the opposite effect desired, driving away potential visitors and turning them to enotourism.
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Key Take Away :
Self-guided tours segment is expected to grow at highest CAGR of 13.8% during the forecast period
Solo segment is expected to grow at highest CAGR of 13.8% during the forecast period.
Generation Y segment is expected to grow at highest CAGR of 14.5% during the forecast period.
Europe dominates the market and is expected to grow at highest CAGR of 14.4% during the forecast period.
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