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The adventure tourism market size is forecast to increase by USD 5778.9 billion at a CAGR of 47.21% between 2023 and 2028. The market is experiencing significant growth due to several key factors. Firstly, the increasing disposable income of consumers worldwide has led to a rise in demand for experiential travel. Secondly, the proliferation of online reviews and social media platforms has made it easier for travelers to research and plan their adventure trips. Lastly, the low penetration rate in developing economies presents a vast opportunity for market expansion. Additionally, the growing trend towards sustainable and eco-friendly travel practices is influencing adventure tourism companies to adopt more responsible business models. Overall, these factors are driving the growth of the market and shaping its future trajectory.
Adventure tourism, also known as adventure travel, is a niche segment of the travel industry that caters to the increasing number of adventure seekers worldwide. This market involves various activities such as skydiving, mountain climbing, trekking, rafting, scuba diving, and exploration of wildlife sanctuaries. The migration of young travelers towards adventure activities has fueled the growth of this market. Professionals in this sector ensure safety through the use of advanced safety equipment. However, border closings and other uncertainties can impact the market negatively. Travel agencies play a crucial role in planning adventure vacations, with online vacation planning gaining popularity due to increasing internet penetration.
Domestic travel is also a significant contributor to the market. Age group plays a vital role in determining the preference for adventure activities, with international tourists and travelers in their 20s and 30s showing a high interest. Adventure sports such as aviation, accommodation, and reasonably priced carriers are essential components of adventure tourism. The market is expected to witness continued growth due to the increasing popularity of adventure activities among travelers. Adventure tourism offers a unique blend of exploration, travel, and thrill, making it an exciting and rewarding experience for all.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The domestic adventure tourism segment is estimated to witness significant growth during the forecast period.The market is experiencing substantial growth, driven by various factors. Domestic adventure tourism is anticipated to lead the global market due to the ongoing COVID-19 pandemic restricting international travel and decreasing consumer spending power. Favorable government regulations, the absence of currency exchange rates, and cultural familiarity contribute to this segment's expansion. Additionally, the growth of domestic adventure tourism is fueled by the rise in developing economies, offering economic opportunities and regional benefits. Technological advancements, such as Internet penetration and social media trends, are transforming the adventure tourism industry. Virtual worlds, simulators, and mobile apps provide great experiences, attracting travelers seeking meaningful adventures.
Adventure sports, including hiking, scuba diving, and aviation, are gaining popularity due to their thrill and excitement. Government efforts to ensure safety precautions, such as emergency communication systems and security measures, are essential in addressing potential hazards and accidents. National Parks and wilderness areas offer unique experiences, but unpredictable weather patterns necessitate caution. Cultural immersion and language learning add depth to adventure travel experiences. Travel companies, like Austin Adventures, Insight Vacations, Inspiring Journeys, and Intro Travel, are capitalizing on these trends, offering active adventures tailored to diverse interests. Technological developments, such as artificial intelligence and aviation, are revolutionizing adventure travel, enhancing safety and convenience.
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The Domestic adventure tourism segment was valued at USD 394.60 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market is experiencing significant growth due to increasing government efforts to promote sustainable wilderness exploration and the rise of tourism experiences. Factors such as Internet penetration and social media trends have made it easier for travelers to discover and book adventure sports and activities through travel companies. Virtual worlds, simulators, and artificial intelligence are also transforming the industry, offering more interactive and personalized experiences. National Parks and wilderness areas continue to be popular destinations, with hiking, scuba diving, and other adventure sports attracting a growing consumer base. Weather patterns and potential hazards pose challenges, necessitating safety precautions and emergency communication systems.
Business growth in this sector is driven by travelers seeking meaningful experiences that connect them with diverse cultures and environments. Technological developments, including mobile apps and aviation advancements, are enhancing the adventure travel experience. Social media platforms provide a space for sharing experiences and inspiring journeys with others. Companies like Austin Adventures, Insight Vacations, and Inspiring Journeys offer a range of active adventures, while TUI, Cepsa, and Intro Travel cater to various budgets and preferences. Security measures are also a priority, ensuring travelers' peace of mind while they explore new frontiers.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing disposable income is the key driver of the market. The global rise in disposable income, as indicated by a 0.2% increase in the US's disposable personal income (DPI) between January and February 2024, totaling an additional USD 50.03 billion, is fueling the growth of the market. Factors contributing to this trend include the rise in dual household income, per capita income, and a strong employment rate. Adventure seekers, both international and domestic, are increasingly engaging in adventure tourism, with booking modes varying from direct online booking platforms like Hipcamp to marketplace bookings through travel agents.
Moreover, weather forecasts and GPS monitoring technology enable travelers to plan soft adventure sports, such as camping and hiking, as well as hard adventure sports, like bungee jumping and skydiving. Reasonably priced carriers and convenient flight schedules from airlines further facilitate accessibility to remote adventure destinations. Age groups ranging from young adults to retirees are embracing this trend, making adventure tourism a dynamic and growing market.
The online reviews encouraging travel industry is the upcoming trend in the market. Adventure tourism has witnessed significant growth due to the convenience and accessibility brought about by technology. Weather forecasts and GPS monitoring apps enable travelers to plan their itineraries effectively, ensuring they make the most of their adventure experiences. Platforms like Hipcamp offer a range of accommodations for adventure seekers, catering to both the soft and hard adventure segments. The booking mode has shifted from travel agents to direct and marketplace bookings, allowing consumers to compare prices and choose reasonably priced carriers and activities.
Furthermore, age groups and international tourists are increasingly opting for soft adventure sports, such as hiking and kayaking, while hard adventure sports, like bungee jumping and skydiving, continue to attract thrill-seekers. The availability of online reviews and tools empowers consumers to make informed decisions and try new experiences with confidence.
The low penetration rate in developing economies is a key challenge affecting market growth. The market in developing economies faces a low penetration rate due to limited consumer awareness about this type of travel. companies primarily focus on tier 1 cities, restricting their reach to tier 2 and tier 3 areas. Weather forecasts and GPS monitoring play crucial roles in adventure tourism, ensuring safety for adventure seekers engaged in soft and hard adventure sports.
Furthermore, hipcamp-style accommodations cater to the soft segment, while hard adventure sports require more extensive planning and booking through travel agents. Age group and international tourist demographics significantly influence market trends. Reasonably priced carriers and marketplace bookings via airlines are popular booking modes for adventure travelers. The growth of the global market may be impeded by these factors in the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BOUNDLESS JOURNEYS - The company offers adventure tourism, such as hiking, trekking, and family adventures. It also offers small-group adventures worldwide, featuring active itineraries, cultural encounters, and authentic experiences.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market refers to the segment of the tourism industry that caters to adventure travelers seeking thrilling and unique experiences. According to the World Tourism Organization, adventure tourism encompasses various activities such as skydiving, mountain climbing, trekking, rafting, scuba diving, and more. Adventure enthusiasts are driven by a desire for exploration and the bio-cultural variety that different destinations offer. Adventure activities are popular among young travelers, solo adventure travelers, and professionals. Soft adventure tourism, which includes activities like wildlife sanctuaries and beaches, appeals to a wider age group. Hard adventure tourism, on the other hand, is preferred by professionals and European adventurers.
Furthermore, safety equipment and sustainable practices are essential considerations in the market. Border closings and travel restrictions due to the pandemic have impacted the industry, leading to a shift towards domestic travel and online vacation planning. Travel agents and marketplace booking platforms have become essential intermediaries for adventure travelers, offering trip packages and social events to enhance their adventure experiences. Culture shock and age groups are also factors that influence the market. Adventure sports like adventure racing, bungee jumping, and ziplining cater to the thrill-seeking crowd, while couples may prefer activities like hot air ballooning or romantic treks. The natural world remains a significant draw for adventure travelers, with destinations like the Amazon rainforest, Himalayan mountains, and African safaris offering unparalleled adventure experiences.
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Market Scope |
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Report Coverage |
Details |
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Page number |
168 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 47.21% |
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Market growth 2024-2028 |
USD 5778.9 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
34.5 |
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Regional analysis |
Europe, APAC, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 33% |
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Key countries |
US, China, Germany, Italy, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Abercrombie and Kent USA LLC, Active New Zealand Ltd., BikeHike Adventures Inc., BOUNDLESS JOURNEYS, Butterfield and Robinson Inc., Discovery Nomads LLC, Explore Worldwide Ltd., G Adventures, Geographic Expeditions Inc., Intrepid Group Pty Ltd., Kensington Tours Ltd., Lindblad Expeditions Holdings Inc., Mountain Travel Sobek, Passages Exotic Expeditions Ltd., Recreational Equipment Inc., ROW Adventures, The Walt Disney Co., Trafalgar Tours Pty Ltd., Travelopia Group, and TUI AG |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Source
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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