The global adventure tourism market size valued to USD 288.08 billion in 2021, is expected an elevation of USD 2824.41 billion by 2030 witnessing a CAGR of 28.8% from 2022-2030.
Adventure tourism involves exploration of exotic destinations, venturing in remote areas, discovering the wilderness, and travelling to such other out-of-the-comfort-zone destinations that includes physical activities, exchange of cultural values and framing a deeper connection with the nature. This niche tourism entails a certain degree of real/perceived risk or physical danger as well as, it may require special skills and physical exertion.
Adventure tourism includes various air, water and land activities like mountaineering, trekking, hiking, scuba diving, canyoneering, sandboarding, paragliding, river rafting, and others. These activities are performed under the guided supervision of experts, using all the safety measures like helmets, harness, and others, to avoid mishaps.
Market Dynamics and Trends
The global adventure tourism market is on a spur owing to the exponential growth of tourism industry. Besides, the inclination of youth towards exploring undiscovered destinations, rising demands of adventure sports, increase in disposable incomes and reasonable travel packages, are expected to supplement the market growth throughout the forecast period.
However, factors such as potential risks involved in adventure travelling, unpredictable climatic conditions, and chances of mishaps are expected to hamper the growth of global Adventure tourism market during the forecast period.
Moreover, increase in government initiatives in the form of public-private partnerships to promote tourism, surge in travel trends on social media, high competition among travel agencies in offering reasonable travel packages, reduced travel restrictions as well as the economic evolution are the factors responsible for propelling the growth of Adventure tourism market in future.
Market Segmentations and Scope of the Study:
The global adventure tourism market share analysis is based on type, activity, type of travelers, age group and geography.
Based on type, the market is segmented into hard, soft and others. Based on activity, the market is classified into land based activity, water based activity, and air based activity. Based on type of traveler, the market is divided into solo, group, couple, and family. Based on age group, the market is bifurcated into below 30 years, 30 to 41 years, 42 to 49 years, and 50 years & above. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America is expected to dominate the global adventure tourism market, holding the highest market share over the forecast period. This is attributable to factors such as presence of various adventurous places, high per-capita disposable income, increased service offering, and upsurge in social media trends for visiting new places in vacations.
Asia Pacific is anticipated to grow at the highest CAGR throughout the forecast period owing to increase in public-private initiatives to promote tourism and inclination of youth towards adventure sports.
Competitive Landscape
The global adventure tourism market, which is highly competitive, consists of various market players. Some of the major market players include G Adventures Inc., Austin Adventures, Inc., Mountain Travel Sobek, ROW Adventures, TUI AG., REI Adventures, Intrepid Group Limited, InnerAsia Travel Group, Inc., Abercrombie & Kent Group of Companies S.A. and Butterfield & Robinson Management Services, Inc. others.
The past endeavors, present developments along with futuristic advancements, sum-up to comprehend the overall growth of the Adventure tourism market. For instance, in January 2020, Austin Adventures pioneered multisport and family adventure travel company offered eighty-plus trips across all seven continents, including a trip for every month in a year.
Recently the five major players of the global adventure tourism market announced 5 exotic destinations to visit in the year 2020 viz: the ROW Adventures announced 'Founder's Trip to Turkey,' the Backroads announced 'Sardinia & Corsica Multi-Adventure Tour', a trip to the beaten path islands in Italy and France, the Austin Adventures announced the 'Wyoming Yellowstone & Grand Teton National Parks Family Trip' to Alaska, the Classic Journeys announced 'Galapagos Island trip,' and the Wilderness Travel announced 'Hiking in the Celestial Mountains of Kyrgyzstan'.
Key Topics Covered:
1. Introduction 1.1. Report Description 1.2. Who Should Read this Report 1.3. Key Market Segments 1.4. Research Methodology
5. Global Adventure Tourism Market, by Type 5.1. Overview 5.2. Hard 5.3. Soft
6. Global Adventure Tourism Market, by Activity 6.1. Overview 6.2. Land Based 6.3. Water Based 6.4. Air Based
7. Global Adventure Tourism Market, by Travellers 7.1. Overview 7.2. Solo 7.3. Group 7.4. Couple 7.5. Family
8. Global Adventure Tourism Market, by Age Group 8.1. Overview 8.2. Below 30 Years 8.3. To 41 Years 8.4. To 49 Years 8.5. Years and Above
9. Global Adventure Tourism Market, by Region 9.1. Overview 9.2. North America 9.3. Europe 9.4. Asia-Pacific 9.5. Rest of World 11.1. Austin Adventures, Inc 11.2. Butterfield & Robinson Inc 11.3. Discovery Nomads 11.4. G Adventures 11.5. Geographic Expeditions Inc. 11.6. Intrepid Group, Ltd. 11.7. Mountain Travel Sobek 11.8. Recreational Equipment, Inc. 11.9. Row Adventures 11.10. Tui Group
