The global adventure tourism market was valued at $324.90 billion in 2022 and is estimated to reach $1,947.50 billion by 2032, exhibiting a CAGR of 19.5% from 2023 to 2032.
Adventure tourism is a form of tourism wherein the purpose of the travelers is to indulge in various adventure activities such as hiking, hunting, rafting, caving, and climbing. Adventure tourism is the fastest-growing segment of the tourism industry across the globe. Destinations such as Melbourne, Brisbane, Lakshadweep, and Sydney allow a plethora of air, land, and water-based adventure activities that attract the tourists across the world.
In recent years, the market for adventure travel has experienced significant growth and related expenditure as a result of an increase in the numbers of travelers. The demand for adventure tourism is expected to grow as a result of an increase in the level of income in emerging geographical areas and reduced costs relating to air travel and accommodation. In addition, there is a rapid growth in the number of international tourists and thus contributes to market growth.
Travel agencies around the world have also launched rapid, mobile-friendly websites that may be used in a simple way on smartphones. These services include peer reviews, 360-degree video tours, and a simple comparison of prices. It helps tourists to get a better idea of the locations, benefits, and places they prefer to see. This has led to increase in interest in online vacation planning and reservation by travelers and, in turn, provides a profit projection for the adventure tourism industry as a whole. Furthermore, increased internet penetration assists travel firms and individuals in selecting, obtaining, and offering the greatest holiday places at affordable prices. The major factors which are expected to boost the growth of the global market over the outlook period include increased government tourism promotion activities, higher investments in this sector by the state, and a strengthening trend for adventure sports on holidays.
An increase in demand for genuine and individual travel experiences drives the adventure tourism market. Rapid urbanization, rise in disposable income, the impact of social media, and low-ticket prices play an important role in this. The key players in the field work with marketing firms to increase demand for adventure travel worldwide on the basis of Internet advertising, enabling them to reach out to large-value customers. In fact, adventure tourism is also being encouraged by government agencies in a number of countries as it produces employment opportunities and contributes to community development. Consequently, adventure tourism is expected to become more popular around the world.
The adventure tourism market is segmented on the basis of type, activity, type of traveler, age group, sales channel, and region. On the basis of type, the market has been classified into hard, soft, and others. On the basis of activity, the market has been divided into land based activity, water based activity, and air based activity. On the basis of the type of traveler, the market has been classified into solo, friends/group, couple, and family. On the basis of age group, it is categorized into below 30 years, 30 to 41 years, 42 to 49 years, and 50 years & above. On the basis of sales channel, the market is bifurcated into travel agents and direct. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players in the adventure tourism industry have relied on product launches as their key strategy to stay relevant in the competitive market. The key players profiled in the report include AAT Kings Tours Limited, Discovery Nomads, Trafalgar Travel, Contiki, G Adventures, Insight Vacations, Inspiring Journeys, Intrepid Group, Ltd, Intro Travel, and Ultimate Adventure Travel Pty Ltd.
Adventure tourism is a form of tourism wherein the purpose of the travelers is to indulge in various adventure activities such as hiking, hunting, rafting, caving, and climbing. Adventure tourism is the fastest-growing segment of the tourism industry across the globe. Destinations such as Melbourne, Brisbane, Lakshadweep, and Sydney allow a plethora of air, land, and water-based adventure activities that attract the tourists across the world.
In recent years, the market for adventure travel has experienced significant growth and related expenditure as a result of an increase in the numbers of travelers. The demand for adventure tourism is expected to grow as a result of an increase in the level of income in emerging geographical areas and reduced costs relating to air travel and accommodation. In addition, there is a rapid growth in the number of international tourists and thus contributes to market growth.
Travel agencies around the world have also launched rapid, mobile-friendly websites that may be used in a simple way on smartphones. These services include peer reviews, 360-degree video tours, and a simple comparison of prices. It helps tourists to get a better idea of the locations, benefits, and places they prefer to see. This has led to increase in interest in online vacation planning and reservation by travelers and, in turn, provides a profit projection for the adventure tourism industry as a whole. Furthermore, increased internet penetration assists travel firms and individuals in selecting, obtaining, and offering the greatest holiday places at affordable prices. The major factors which are expected to boost the growth of the global market over the outlook period include increased government tourism promotion activities, higher investments in this sector by the state, and a strengthening trend for adventure sports on holidays.
An increase in demand for genuine and individual travel experiences drives the adventure tourism market. Rapid urbanization, rise in disposable income, the impact of social media, and low-ticket prices play an important role in this. The key players in the field work with marketing firms to increase demand for adventure travel worldwide on the basis of Internet advertising, enabling them to reach out to large-value customers. In fact, adventure tourism is also being encouraged by government agencies in a number of countries as it produces employment opportunities and contributes to community development. Consequently, adventure tourism is expected to become more popular around the world.
The adventure tourism market is segmented on the basis of type, activity, type of traveler, age group, sales channel, and region. On the basis of type, the market has been classified into hard, soft, and others. On the basis of activity, the market has been divided into land based activity, water based activity, and air based activity. On the basis of the type of traveler, the market has been classified into solo, friends/group, couple, and family. On the basis of age group, it is categorized into below 30 years, 30 to 41 years, 42 to 49 years, and 50 years & above. On the basis of sales channel, the market is bifurcated into travel agents and direct. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players in the adventure tourism industry have relied on product launches as their key strategy to stay relevant in the competitive market. The key players profiled in the report include AAT Kings Tours Limited, Discovery Nomads, Trafalgar Travel, Contiki, G Adventures, Insight Vacations, Inspiring Journeys, Intrepid Group, Ltd, Intro Travel, and Ultimate Adventure Travel Pty Ltd.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the adventure tourism market analysis from 2022 to 2032 to identify the prevailing adventure tourism market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the adventure tourism market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global adventure tourism market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- Hard
- Soft
- Others
By Activity
- Land Based Activity
- Sub Type
- Trekking and Mountain Climbing
- Jungle Safari
- Camping
- Biking and Racing
- Riding
- Others
- Water Based Activity
- Sub Type
- Canoeing
- Kayaking
- Scuba Diving
- Snorkeling
- Surfing
- Water Rafting
- Skiing
- Parasailing
- Rappelling
- Others
- Air Based Activity
- Sub Type
- Hot Air Balloon Rides
- Paragliding
- Sky Diving
- Others
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
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- Switzerland
- Norway
- Italy
- Rest of Europe
- Asia-Pacific
- India
- China
- New Zealand
- Australia
- Japan
- Rest of Asia-Pacific
- LAMEA
- Saudi Arabia
- UAE
- Qatar
- Oman
- Kuwait
- Rest Of Middle East
- Africa
- Latin America
- Key Market Players
- Austin Adventures, Inc.
- G Adventures Inc.
- Geographic Expeditions Inc.
- Recreational Equipment, Inc.
- Butterfield & Robinson Inc.
- TUI AG
- Intrepid Group Pty Limited
- Mountain Travel Sobek
- ROW Adventures
- Discovery Nomads LLC
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ADVENTURE TOURISM MARKET, BY TYPE
CHAPTER 5: ADVENTURE TOURISM MARKET, BY ACTIVITY
CHAPTER 6: ADVENTURE TOURISM MARKET, BY TYPE OF TRAVELER
CHAPTER 7: ADVENTURE TOURISM MARKET, BY AGE GROUP
CHAPTER 8: ADVENTURE TOURISM MARKET, BY SALES CHANNEL
CHAPTER 9: ADVENTURE TOURISM MARKET, BY REGION
CHAPTER 10: COMPETITIVE LANDSCAPE
CHAPTER 11: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the adventure tourism market was valued at $324.90 billion in 2022, and is estimated to reach $1.94 trillion by 2032, growing at a CAGR of 19.5% from 2023 to 2032.Adventure tourism involves physical exertion, cultural exchanges, and outdoor activities. It entails risky travel and discovery, and it may necessitate physical strength and specific talents. In addition, adventurous travel entails interacting with and connecting with different landscapes and cultures. According to these criteria, adventure tourism has piqued the curiosity of individuals from all walks of life. Traveling decreases mental stress, tension, and anxiety, resulting in the exponential rise of the market. Furthermore, it provides an excellent escape for city dwellers. The growth of the adventure tourism market is attributed to the presence of an attractive landscape and the availability of a large variety of activities within different cities of the country.
Travelers opt for unique and exotic holiday destinations, to get away from the daily hectic schedule and gain valuable experiences. Exotic locations with a prevalent food culture are major factors that people consider while choosing their travel location. Regions with a large variety of food, drinks, and activities have been voted as top preferences by adventure travelers. In addition, destinations that are culturally and traditionally intriguing have become popular among affluent travelers, owing to the rise in interest of people to learn and understand the local culture.
The global adventure tourism market is expected to witness significant growth owing to a rise in the number of adventure tourists, globally. The rapidly developing infrastructure coupled with improved connectivity across the developed and developing regions is significantly boosting market growth. Moreover, the rise in the adoption of mobile devices and an increase in accessibility of the internet have enhanced communication among travelers, resulting in the exchange of experiences and thoughts personally as well as on social media. This in turn motivates other adventure seekers to plan for adventure activities, thus promoting market expansion. In addition, technology has enabled travelers to book their vacation directly with the service provider, thereby cutting the cost for the middle person within the sales channel.
Nowadays, technology has become a basic prerequisite to ensure that multiple operations are carried out immaculately, and the tourism industry is no different. Technology has always been a supporting factor for the travel and hospitality industry. Technology is disrupting the established market with the advent of web-based booking and the use of 'AI” and 'IoT” in operation optimizations. Technology-driven players such as online hotel aggregators and search engines have heavily invested in big data analytics to make analytics-driven business decisions. Furthermore, the use of artificial intelligence has been deployed in chatbot and virtual assistants to provide a seamless customer experience. In addition, key players in the industry drive their attention toward the enhancement of mobile experience to provide a more user-friendly experience to travelers while booking on their platforms.
The rise in the exposure of people to different forms of social media has enhanced their knowledge about various trends shaping the tourism industry. Social media has increasingly become a pseudo-travel agent. Customers increasingly opt for travel services and products by taking advice from the people who have either stayed or traveled there before. Moreover, they refer to reviews and insights detailed on various social networking sites. Views and opinions shared on sites offer better transparency with respect to products and thus encourage travelers to make a booking for their preferred travel location. For instance, according to the report of the Adventure Travel Trade Association, social media is the biggest source of inspiration for the U.S. adventure travelers of color, followed by travel-specific publications and television. The rise of social media is expected to further boost the market.
The adventure tourism market is segmented on the basis of type, activity, type of traveler, age group, sales channel, and region. On the basis of type, the market has been classified into hard, soft, and others. On the basis of activity, the market has been divided into land based activity, water based activity, and air based activity. On the basis of the type of traveler, the market has been classified into solo, friends/group, couple, and family. On the basis of age group, it is categorized into below 30 years, 30 to 41 years, 42 to 49 years, and 50 years & above. On the basis of sales channel, the market is bifurcated into travel agents and direct. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players in the adventure tourism industry have relied on product launches as their key strategy to stay relevant in the competitive market. The key players profiled in the report include AAT Kings Tours Limited, Discovery Nomads, Trafalgar Travel, Contiki, G Adventures, Insight Vacations, Inspiring Journeys, Intrepid Group, Ltd, Intro Travel, and Ultimate Adventure Travel Pty Ltd.
Key findings of the study
On the basis of type, the soft segment is projected to witness the highest CAGR during the forecast period.On the basis of activity, the land-based activity segment dominated the market in 2022.
On the basis of type of traveler, the couple segment was the largest and the fastest-growing market segment in 2022.
On the basis of age group, the 30 to 41 years segment was the dominant market in 2022.
On the basis of sales channel, direct was the most prominent segment in 2022.
On the basis of region, Europe dominated the market in 2022.
Companies Mentioned
- Austin Adventures, Inc.
- G Adventures Inc.
- Geographic Expeditions Inc.
- Recreational Equipment, Inc.
- Butterfield & Robinson Inc.
- TUI AG
- Intrepid Group Pty Limited
- Mountain Travel Sobek
- ROW Adventures
- Discovery Nomads LLC
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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