Portland, OR, Nov. 11, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Asia- Pacific and Africa ecotourism market garnered $64.4 billion in 2021, and is estimated to generate $150.9 billion by 2027, manifesting a CAGR of 14.0% from 2022 to 2027. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $64.4 billion |
| Market Size in 2031 | $150.9 billion |
| CAGR | 14.0% |
| No. of Pages in Report | 311 |
| Segments covered | Age group, sales channel, traveler type, type, service visitor, spending, and Region. |
| Drivers | Leading industry players are devoting substantial time and money to develop eco-friendly hotels |
| Opportunities | Leaders in Asia-Pacific’s tourism sector such as Rickshaw Travel Group and G Adventures are effectively identifying new possibilities in social and environmental challenges |
| Restraints | High short-term development costs |
| The lack of sufficient infrastructure | |
| A low return on investment (ROI) |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the ASIA-PACIFIC and Africa ecotourism market, owing to implementation of global lockdown.
- According to the report published by the Asian Development Bank and the World Tourism Organization 2021, the demand for flights fell by 96% in Asia-Pacific due to COVID-19 in 2020, compared to an 83 percent decline in Europe and an 88 percent fall in North America. Thus, the international as well as domestic arrivals at eco-tourist’s spots have declined during the pandemic years and is expected to normalize after couple of years.
The research provides detailed segmentation of the Asia- Pacific and Africa ecotourism market based on age group, sales channel, traveler type, type, service visitor, spending, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on age group, the generation Y segment held the highest share in 2021, accounting for nearly three-fifths of the Asia-Pacific and Africa ecotourism market, and is expected to continue its leadership status during the forecast period. However, the generation Z segment is expected to register the highest CAGR of 15.0% from 2022 to 2027.
Based on traveler type, the group segment accounted for the highest share in 2021, contributing to nearly half of the Asia-Pacific and Africa ecotourism market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the solo segment is expected to manifest the highest CAGR of 14.9% from 2022 to 2027.
Based on services, the accommodation segment accounted for the highest share in 2021, holding more than two-fifths of the Asia-Pacific and Africa ecotourism market, and is expected to continue its leadership status during the forecast period. However, the activities segment is estimated to grow at the highest CAGR of 14.7% during the forecast period.
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Based on region, Asia-Pacific held the largest share in 2021, contributing to more than 90% of the ASIA-PACIFIC and Africa ecotourism market share, and is projected to maintain its dominant share in terms of revenue in 2027. In addition, the same region is expected to manifest the fastest CAGR of 14.0% during the forecast period. The research also analyzes Africa region.
Leading market players of the Asia-Pacific and Africa ecotourism market analyzed in the research include travel Leaders Group, LLC, Aracari Travel, FROSCH International Travel, Inc., Undiscovered Mountains Ltd, Adventure Alternative, Intrepid Group Limited, RICKSHAW TRAVEL GROUP, G Adventures, Steppes discovery and Small World Journeys Pty Ltd.
The report provides a detailed analysis of these key players of the Asia-Pacific and Africa ecotourism market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
