Wilmington, Delaware, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Adventure Tourism Market by Type (Hard, Soft, Others), by Activity (Land Based Activity, Water Based Activity, Air Based Activity), by Type of Traveler (Solo, Friends/Group, Couple, Family), by Age Group (Below 30 Years, 30 to 41 Years, 42 to 49 Years, 50 Years and Above), by Sales Channel (Travel Agents, Direct): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global adventure tourism market size was valued at $324.9 billion in 2022, and is projected to reach $2 trillion by 2032, growing at a CAGR of 19.5% from 2023 to 2032.
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Prime determinants of growth
A significant rise in interest for unique and experiential travel has led travelers to seek adventure-based activities, such as hiking, rock climbing, and wildlife safaris. Increasing health consciousness has also encouraged travelers to engage in physically active and nature-based tourism. The growing awareness of eco-tourism and sustainable travel practices has boosted demand for environmentally friendly adventures in natural settings. Technological advancements in booking platforms and social media have made it easier for adventure travelers to discover and book experiences. Moreover, governments and tourism boards promoting adventure tourism in regions rich with natural landscapes have contributed to market expansion. The post-pandemic shift toward outdoor, open-air experiences has further fueled adventure tourism market demand, as travelers prioritize safety while seeking thrilling, immersive experiences.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $324.90 billion |
| Market Size in 2032 | $2 Trillion |
| CAGR | 19.5% |
| No. of Pages in Report | 350 |
| Segments covered | Type, Activity, Type of Traveler, Age Group, Sales Channel, and Region |
| Drivers | Pursuit of unique experiences to augment the tourism industry Mobile applications, big data analytics, and artificial intelligence evolving together amidst proliferating tourism industry High penetration of the Internet |
| Opportunities | Rise of social media Heavy investment in better infrastructure |
| Restraints | Increase in terrorism and crime rate, political uncertainty, and natural calamities |
The soft segment to maintain its leadership status during the forecast period
By type, the soft segment held the highest market share in 2022, accounting for more than half of the adventure tourism market revenue and is estimated to maintain its leadership status throughout the forecast period. Adventure travelers focus on less risky adventure activities and are more open to other elements such as the natural environment, learning, and meaningful lifelong experience. Older travelers occupy a major part of this segment mainly due to preference or safety issues. The soft segment was the largest segment in 2022 and is expected to remain dominant throughout the forecast period. The growth in this segment is attributed to the moderate to low-risk level activities in this category thus making it highly accessible to people of different age groups.
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The land based activity segment to maintain its leadership status during the forecast period
By activity, the land based activity segment held the highest market share in 2022, accounting for more than half of the adventure tourism market and is estimated to maintain its leadership status throughout the forecast period. The demand for land-based activities in the adventure tourism market remains high owing to the wide variety of activities such as hiking, mountain biking, and rock climbing that appeal to thrill-seekers and nature enthusiasts. Travelers are drawn to outdoor experiences that offer scenic landscapes, physical challenges, and opportunities to explore remote locations. Moreover, the rise in eco-tourism and nature-based tourism has contributed to the popularity of land-based activities, offering sustainable and immersive adventures in natural settings.
The couple segment to maintain its leadership status during the forecast period
By type of traveler, the couple segment held the highest market share in 2022, accounting for nearly two-fifths of the adventure tourism market and is estimated to maintain its leadership status throughout the forecast period. Couples hold a majority share among types of travelers in adventure tourism owing to the preference for shared experiences that foster bonding and connection. Adventure activities such as hiking, trekking, and nature exploration offer couples opportunities to engage in physical challenges together, creating memorable experiences. Romantic destinations that offer a mix of relaxation and adventure appeal to couples seeking unique travel experiences. In addition, couples often have higher disposable incomes, which allows them to invest in premium adventure travel packages that include activities such as safaris, wildlife expeditions, and cultural tours, further driving the demand for adventure tourism in the global market.
The 30 to 41 years segment to maintain its leadership status during the forecast period
By age group, the 30 to 41 years segment held the highest market share in 2022, accounting for more than two-fifths of the adventure tourism market and is estimated to maintain its leadership status throughout the forecast period. This segment is also the fastest-growing segment throughout the forecast period. The growth of this segment is attributed to the financial stability and health of the people in this age group. Generally, people in this age group may afford frequent travel to various parts of the world, which positively impacts the growth of the tourism industry worldwide including in Australia.
The direct segment to maintain its leadership status during the forecast period
By sales channel, the direct segment held the highest market share in 2022, accounting for nearly three-fifths of the adventure tourism market and is estimated to maintain its leadership status throughout the forecast period. Direct booking is common among seasoned tourists. This segment is expected to garner steady growth during the forecast period owing to the increase in the ease of making travel arrangements due to improvements in technology. Moreover, this form of booking allows travelers to save a significant amount of money, which further boosts the attractiveness of this mode of booking.
Europe to maintain its dominance by 2035
Region wise, Europe held the highest market share in terms of revenue in 2022 and is likely to dominate the market during the forecast period. The key factor supporting the growth of adventure travel in Europe is its rich diversity. This region includes numerous historically important nations, cultures, languages, and varieties of cuisine. Some of the leading adventure destinations in Europe are the Alps, the Mediterranean region, and the Baltic region. European adventure travelers prefer discovering nature and culture through physical activities. Their most important requirements include safety, new experiences, a variety of activities, engagement with local people, and comfortable accommodation. Moreover, Europe being a developed nation has a very evolved travel and tourism infrastructure. In addition, the climate in the region remains quite pleasant which further attracts the travelers to this region.
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Leading Market Players: -
- TUI AG
- Geographic Expeditions Inc.
- G Adventures Inc.
- Butterfield & Robinson Inc.
- Discovery Nomads LLC
- Austin Adventures, Inc.
- Mountain Travel Sobek
- Intrepid Group Pty Limited
- ROW Adventures
- Recreational Equipment, Inc.
The report provides a detailed analysis of these key players in the adventure tourism market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. 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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