New Castle, Delaware, Sept. 25, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Beach Tour Market By Service Type (Accommodation, Transportation, Activities, Food And Beverages), By Travelers (Solo, Group), By Budget (Standard, Premium, Luxury): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global Beach Tour market generated $214.3 Billion in 2022 and is anticipated to generate $357 Billion by 2032, witnessing a CAGR of 5.3 % from 2023 to 2032.
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A beach tour entails a leisurely exploration of coastal regions characterized by sandy shorelines, breathtaking ocean vistas, and a wealth of engaging pastimes. This type of journey typically encompasses visits to various beach locales along the shoreline, offering opportunities for relaxation, swimming, sunbathing, and engaging in water-based activities such as surfing or snorkeling. Beach tours often encompass the discovery of nearby attractions, such as beachside towns, local markets, or natural landmarks.
Prime determinants of growth
The global beach tour market is experiencing growth due to a surge in demand for experiential travel, rise in adventure tourism, and surge in Interest in sustainable tourism. However, seasonality, weather dependence, environmental vulnerability, and climate change restrain market growth to some extent. Nevertheless, untapped emerging markets are expected to provide remunerative growth opportunities in the upcoming years.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2023 | $ 214.3 Billion |
| Market Size in 2032 | $ 357 Billion |
| CAGR | 5.3% |
| No. of Pages in Report | 433 |
| Segments Covered | Service Type, Travelers, Budget, and Region |
| Drivers | Surge in Demand for Experiential Travel Rise in Adventure Tourism Surge in Interest in Sustainable Tourism |
| Opportunities | Untapped Emerging Markets |
| Restraints | Seasonality and Weather Dependence Environmental Vulnerability and Climate Change |
The accommodation segment to maintain its leadership status throughout the forecast period
Based on Service Type, the accommodation segment held the highest market share in 2023, accounting for more than one-third of the global beach tour market revenue and is estimated to maintain its leadership status throughout the forecast period. The rise in demand for unique and experiential accommodation is a significant driver. However, the activities segment is projected to manifest the highest CAGR of 6.3% from 2023 to 2032.
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The group segment to maintain its leadership status throughout the forecast period
Based on travelers, the group segment held the highest market share in 2022, accounting for more than three-fourths of the global beach tour market revenue and is estimated to maintain its leadership status throughout the forecast period. There is an increase in trend of multi-generational group travel, with families and extended families opting for beach vacations together. The desire for shared experiences, bonding, and creating lasting memories drives the growth of this segment. Additionally, the solo segment is projected to manifest the highest CAGR of 5.9% from 2023 to 2032.
The premium segment to maintain its leadership status throughout the forecast period.
Based on the budget, the premium segment held the highest market share in 2022, accounting for nearly three-fifths of the global beach tour market revenue and is estimated to maintain its leadership status throughout the forecast period. The increase in affluence and disposable income of travelers have contributed to the growth of the premium segment, as more individuals seek luxurious and exclusive experiences. Additionally, the Standard segment is projected to manifest the highest CAGR of 6.3% from 2023 to 2032.
Europe garnered the major share in 2022
Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for around one-third of the global beach tour market revenue. The increase in popularity of experiential travel and the demand for unique beach experiences have driven the growth of Europe's beach destinations.
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In addition, the Asia-Pacific region is also expected to witness the fastest CAGR of 6.4% from 2023 to 2032 and is likely to dominate the market during the forecast period. Rise in middle class and increase in disposable income have fueled the growth of domestic and international tourism to Asia-Pacific's beach destinations.
Leading Market Players: -
- TUI Group
- Expedia Group, Inc.
- TripAdvisor, Inc.
- Thomas Cook
- Booking.com B.V.
- Airbnb, Inc.
- Cox & Kings Ltd
- apple leisure group
- Kuoni travel group
- On The Beach Group.
The report provides a detailed analysis of these key players in the global Beach Tour Market. These players have adopted different strategies such as new Distribution Channel 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 and strategic moves of market players to showcase the competitive scenario.
Country Reports We Have in this Industry:
• Canada Beach Tour Market Opportunity Analysis and Industry Forecast, 2022-2032
• Mexico Beach Tour Market Opportunity Analysis and Industry Forecast, 2022-2032
• Europe Beach Tour Market Opportunity Analysis and Industry Forecast, 2022-2032
• Germany Beach Tour Market Opportunity Analysis and Industry Forecast, 2022-2032
• UK Beach Tour Market Opportunity Analysis and Industry Forecast, 2022-2032
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