The Global Adventure Tourism Market was assessed at $ 686.5 billion in 2021and is predicted to reach $ 1,626.9 billion by 2026, developing at a CAGR of 13.3% from 2021 to 2026.
Adventure tourism refers to travelling or exploring with some degree of risk while on vacation. Adventure tourism includes some activities like rock climbing, hiking, caving, rafting and others. Tourism is one of the fastest-growing sectors, of which adventure tourism is one of the most dynamic.
Adventure tourism includes various air, water and land activities such as mountaineering, trekking, hiking, scuba diving, canyoning, sandboarding, paragliding, rafting and others. These activities are carried out under the guided supervision of experts, using all safety measures such as helmets, harnesses and others, to avoid accidents.
Adventure tourism includes physical activity or activities in nature that may require exertion and special skills. Adventure travel includes various activities such as rock climbing, hiking, rafting, caving, cycling, hunting and others.
The coronavirus is spreading around the world with serious impact on the global economy and market. North America and Europe are the countries most affected by the coronavirus, which are key players in the global tourism industry. With the strict lockdown conditions, that resulted in the ban on international and local travel has resulted in huge losses in the tourism industry, affecting the adventure tourism wing also. The rising consumer concerns to avoid group gatherings is likely to impact the growth in the adventure tourism market.
In January 2020, Austin Adventures, a pioneer in multi-sport and family adventure travel, offered more than eighty trips to seven continents, including one for each month of the year.
Market growth and trends:
In recent years, the adventure tourism industry has grown exponentially around the world. In addition, travellers want to visit unknown destinations. Also, the significant increase in government initiatives in the form of public and private partnerships to promote tourism is fuelling the growth of the global adventure travel market.
The improvement in the economic situation and the growth of disposable income are important factors that are driving the growth of the adventure tourism market.
Market Drivers and Restraints:
The increase in the number of travellers wishing to visit new destinations around the world is a key factor that is expected to drive the growth of the global adventure tourism market during the forecast period. In addition, the growth of the tourism industry, the hike in the disposable income of people, the increase in adventure travel in groups or alone or as a couple across the world are important factors that are supposed to fuel the growth of the target market.
The increase in tourism promotion activities by the government, the increase in investment in the tourism sector by the government, the upward trend of adventure activities during the holidays are the main factors that are likely to drive growth of the global market during the outlook period. In addition, the relaxation of travel restrictions and the aggressive tourism promotion strategies adopted by various countries around the world are factors that are supposed to proliferate the growth of the world market in the following years. Also, increasing social media advertising through various social media platforms such as Facebook, YouTube, Instagram, and others to offer better travel deals is another important factor that is estimated to contribute significantly to the growth of the target market.
However, unpredictable weather conditions are a major factor that can hamper the growth of the world market to some extent. Additionally, the high cost associated with adventure activities is another factor that can limit the growth of the target market to some extent.
On the basis of the type, the soft adventure segment is expected to represent a significant revenue share in the global market, due to the growing preference for soft adventure tourism activities such as cycling, trekking, boating, skiing, observation wildlife and some others among people from all over the world.
Among activities segmentation, the land-based business segment is foreseen to represent a significant revenue share in the global market, due to the growing inclination towards land activities like trekking, wildlife and jeep safaris, and bird watching among people.
Based on the type of traveller, the global adventure tourism market is separated as solo, friends/group, couple, and family.
Based on the age group, the worldwide market is divided into below 30 years, 30–41 years, 42–49 years, and 50 years & above.
The Asia-Pacific region is expected to record the highest growth in the global adventure tourism market during the projection period. Increased tourist arrivals, surge in disposable income, the availability of several national parks and wildlife sanctuaries, and the relaxation of travel restrictions in several countries in the area are factors expected to drive growth in the regional market of the Asia-Pacific. The market in Europe is supposed to dominate the business in terms of revenue, followed by the market in North America, due to the well-developed tourism sector and the high preference of travellers to visit countries in these areas. The markets of Latin America, Middle East and Africa are expected to experience significant growth in terms of turnover, due to the increasing awareness of tourists towards the different adventure destinations in the countries of these regions.
Key market players:
The main companies operating in the global adventure tourism market are Abercrombie & Kent USA, LLC, Butterfield & Robinson Inc., Cox & Kings Ltd., Jet2holidays.com, Lindblad Expeditions, Oku Japan, Scott Dunn Ltd., Tauck, TCS World Travel, Thomas Cook Group, G Adventures, Audley Travel, Exodus Travel, Intrepid Group, and Urban Adventures.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Adventure Tourism Market, By Type
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Adventure Tourism Market, By Activity
6.2.1 Land-based Activity
6.2.2 Water-based Activity
6.2.3 Air-based Activity
6.2.4 Market Size Estimations & Forecasts (2019-2024)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
6.3 Adventure Tourism Market, By Type of Traveller
6.3.5 Market Size Estimations & Forecasts (2019-2024)
6.3.6 Y-o-Y Growth Rate Analysis
6.3.7 Market Attractiveness Index
6.4 Adventure Tourism Market, By Age Group
6.4.1 Below 30 Years
6.4.2 30–41 Years
6.4.3 42–49 Years
6.4.4 50 Years & Above
6.4.5 Market Size Estimations & Forecasts (2019-2024)
6.4.6 Y-o-Y Growth Rate Analysis
6.4.7 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Activity
7.2.4 By Type of Traveller
7.2.5 By Age Group
7.3.1 By Country
18.104.22.168 Rest of Europe
7.3.2 By Type
7.3.3 By Activity
7.3.4 By Type of Traveller
7.3.5 By Age Group
7.4 Asia Pacific
7.4.1 By Country
22.214.171.124 South Korea
126.96.36.199 South East Asia
188.8.131.52 Australia & NZ
184.108.40.206 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Activity
7.4.4 By Type of Traveller
7.4.5 By Age Group
7.5 Latin America
7.5.1 By Country
220.127.116.11 Rest of Latin America
7.5.2 By Type
7.5.3 By Activity
7.5.4 By Type of Traveller
7.5.5 By Age Group
7.6 Middle East and Africa
7.6.1 By Country
18.104.22.168 Middle East
7.6.2 By Type
7.6.3 By Activity
7.6.4 By Type of Traveller
7.6.5 By Age Group
8. Key Player Analysis
8.1 Abercrombie & Kent USA, LLC
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Butterfield & Robinson Inc
8.3 Cox & Kings Ltd
8.5 Lindblad Expeditions
8.6 Oku Japan
8.7 Scott Dunn Ltd
8.8 Thomas Cook Group
8.9 G Adventures
8.10 Exodus Travel
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures