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2021
Adventure Tourism Market

Adventure Tourism Market

by Type (Hard, Soft, and Others), Activity (Land-Based Activity, Water-Based Activity, and Air-Based Activity), Type of Traveler (Solo, Friends/Group, Couple, and Family), Age Group (30 Years, 30-41 Years, 42-49 Years, and 50 Years& Above), and Sales Channel (Travel Agents, and Direct): Global Opportunity Analysis and Industry Forecast, 2021-2028
Update Available On-Demand

Report Code: A01279
Pages: 300
Jul 2021 | 102649 Views
Author(s) : Sumesh K , Roshan D
Tables: 172
Charts: 60
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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The adventure tourism market size was valued at $112,227 million in 2020 and is estimated to reach the market value of $1,169,095 million by 2028, growing at a CAGR of 20.1% to from 2021-2028. By type, the soft segment was the most prominent segment accounting for $37,595 million in 2020. It is expected to reach the market size of $380,687 million by 2028 growing at a CAGR of 20.1% throughout the forecast period. By activity, the land-based activity segment was the most prominent category in 2020 and is expected to remain dominant throughout the forecast period. 

Adventure tourism is form of travel involving caving, climbing, cycling, hiking, hunting, rafting, and others. Tourism is one of the rapidly growing sectors, wherein adventure tourism is one of its fastest growing segments. Asia-Pacific is one of the most popular travel destination owing to it having great landscapes, good food, and accommodation facilities. Cities such as Sydney, Melbourne, Brisbane, and Perth allows a plethora of land, water, and air based activities. Moreover, Asia-Pacific is also a home to beaches and wildlife sanctuary, which further increase its popularity as a destination for travel. Adventure sports is the go-to form of travel in worldwide as it offers activities such as diving, white water rafting, surfing, trekking, cycling, and others.

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Tourism took a major hit after the COVID-19 incident in 2020. It caused severe disruptions to the growth of the tourism industry. The industry experienced a sudden halt in international visitation, restrictions on mobility, and increased health and safety concerns. The aviation industry suffered the most damage alongside the travel industry in the country. Volatile border sealing and drastic drop in demand led to 95% drop in the passenger count. The hospitality industry also suffered the same decline in revenue due to the advent of the pandemic. All of this critically decreased the growth of the tourism industry leading to major drop in revenue

The growth of the adventure tourism market can be attributed to presence of attractive landscape and availability of a large variety of activities within different cities of the country. Furthermore, strategic marketing initiatives taken by players in the industry coupled with increase in government initiatives to promote tourism drives global industry. However, risk involved in adventure travelling and unpredictable weather conditions hinder the growth of the global market. These factors might lead to failure of adventure tourism, thereby hampering the growth of the market. Conversely, increase in social media networking and growing popularity of travel blogging/video logging in the social media platforms such as Instagram, and twitter is further expected to pique the interest of travelers around the world. This is expected to increase the popularity of Australia as tourist attraction, making way for the adventure tourism market growth.

The adventure tourism market is segmented on the basis of type, activity, type of travelers, age group, and sales channel. By type, the market is classified into hard, soft, and others. By activity, the market is divided into land-based activity, water-based activity, and air-based activity. By type of travelers, the market is classified into solo, friends/group, couple, and family. By age group, it is categorized into below 30 years, 30–41 years, 42–49 years, and 50 years & above. The sales channel segment includes travel agent and direct. By Region the market is analyzed across North America, Europe, Asia-Pacific and LAMEA

Adventure Tourism Market
By Type

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Soft was the fastest growing segment.

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By type, the soft segment was the highest contributor to the adventure tourism market in 2020 and is expected to remain dominant throughout the forecast period. The growth of this segment can be attributed to activities in this category having moderate to low risk level, and thus being highly popular among adventure grazers, adventurers, adventure enthusiasts who make the bulk of the traveler profile. The hard segment is also projected to grow at a notable growth rate throughout the forecast owing to gradual increase in the number of people/travelers who are willing to partake in high risk activities.

Adventure Tourism Market
By Activity

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Air-based activity segment was the fastest growing segment.

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Based on adventure tourism market analysis by activity, the land-based activity segment was the most prominent category accounting for the highest share in 2020. The growth in this segment can be attributed to the fact that these activities are easy to do and are quite economical compared to the other activities. However, the air-based activity is expected to witness the highest growth throughout the forecast period

Adventure Tourism Market
By Traveler

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Couple was the fastest growing segment

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Based on adventure tourism market forecast by type of traveler, the couple segment was the highest contributor to the market in 2020 and is estimated to growing at a notable CAGR of 20.9% from 2021 to 2028. The family segment is expected to witness modest growth throughout the forecast period.

Adventure Tourism Market
By Age Group

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30–41 Years wasthe fastest growing segment.

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By age group, the 30-41 years segment was the dominant segment in 2020. The growth in this segment is attributed to the fact that people in this age group are financially stable and also have the energy and health to go for different adventure/activities.

Adventure Tourism Market
By Sales Channel

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Direct was the fastest growing segment.

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By region, Europe was the largest market in 2020, in terms of revenue generation, garnering almost one-third of the global adventure tourism market share. Asia-Pacific is further expected to expand at notable growth rate exhibiting the highest growth rate throughout the forecast period. The growth in these regions can be attributed to improving business environment in the region.

Adventure Tourism Market
By Region

2028
Europe 
North America
Asia-pacific
Lamea

Europe was the leading market.

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Key players in the adventure tourism market have relied on strategies such as product launch and business expansion, to expand their market share and to stay relevant in the global adventure tourism market. The key players in the Adventure Tourism industry profiled in the report are 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

  • The report provides a quantitative analysis of the current adventure tourism market trends, estimations, and dynamics of the market size from 2020 to 2028 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size and segmentation assists to determine the prevailing adventure tourism market opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry.

Adventure Tourism Market Report Highlights

Aspects Details
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
  • 30–41 Years
  • 42–49 Years
  • 50 Years & Above
BY SALES CHANNEL
  • Travel Agent
  • Direct
BY REGION
  • North America  (U.S, Canada, Mexico)
  • Europe  (Germany, Switzerland, Norway, Italy, Rest of Europe)
  • Asia-Pacific  (India, China, New Zealand, Australia, Japan, Kazakhstan, Kyrgyzstan, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players AUSTIN ADVENTURES, INC, BUTTERFIELD & ROBINSON INC, G ADVENTURES, GEOGRAPHIC EXPEDITIONS INC', INTREPID GROUP, LTD, MOUNTAIN TRAVEL SOBEK, DISCOVERY NOMADS, ROW ADVENTURES, TUI GROUP', RECREATIONAL EQUIPMENT, INC
 

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According to the CXOs, the adventure tourism market is anticipated to witness steady growth, due to economic growth and increase in trend of adventure travel. The key motivating factor of adventure seekers are transformative experiences. In addition, rise in competition among airlines, availability of affordable carriers, and liberal travel and immigration laws foster the market growth.

Moreover, rise in adoption of mobile devices and increase in accessibility of the internet have enhanced the communication among travelers, resulting in 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 of middle person within the sales channel.

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FREQUENTLY ASKED QUESTIONS?

A. The adventure tourism market size was valued at $112,227 million in 2020 and is estimated to reach the market value of $1,169,095 million by 2028

A. The adventure tourism market is estimated to grow at a CAGR of 20.1% through the forecast period.

A. The sample for the report can be acquired from the official Allied Marlet Research website.

A. The key players in the Adventure Tourism industry profiled in the report are 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.

A. The adventure tourism market is segmented on the basis of type, activity, type of travelers, age group, and sales channel.

A. The base year for the report is 2020.

A. With the release of the lockdown adventure tourism market is expected to make up for its losses by the year 2024.

A. By type, the soft segment was the highest contributor to the adventure tourism market in 2020.

A. Risks involved in adventure travelling and unpredictable weather conditions hinder the growth of the global market. These factors might lead to failure of adventure tourism, thereby hampering the growth of the market.

A. Tourism took a major hit after the COVID-19 incident in 2020. It caused severe disruptions to the growth of the tourism industry. The industry experienced a sudden halt in international visitation, restrictions on mobility, and increased health and safety concerns.

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