Adventure Tourism Market is valued around USD 657.8 Million in 2019 and expected to reach USD 2.02 Billion by 2030 with the CAGR of 10.7%over the forecast period.
Adventure tourism refers to the travelling places with numerous adventure sports involved with calculated risk. The adventure sports performed in the presence of trained person along with safety measures such as harness, life jackets, helmets and others. These activities involve rafting, camping, hiking, trekking and others. It is also considered as the leisure travel which takes place at very unusual destination with lots of challenges &excitement.
Global Adventure Tourism Market report is segmented on the basis of type, activity, traveler type, age group and by regional. Based upon type, the adventure tourism market is fragmented into hard, soft & others. On the basis of activity, the market is categorized into air based activity, land based activity, and air based activity. On the basis of traveler type, the market is classified into solo, group, couple and family. Based on age group, the market is fragmented into Below 30 Years, 30 to 41 Years, 42 to 49 Years, and 50 Years & above. The regional bifurcation of countries includes North America, Europe, Asia-Pacific,and RoW which are further segmented into major countries such as U.S., UK,France, and others.
The adventure tourisms market is mainly driven by the constant developing tourism industry along with growth in young population which is very much interested into adventure sports.There has been constant development in government initiatives to further promote tourism industry followed by various partnerships between public &private firms to promote market growth. The development in disposable income as well as affordable prices are also anticipated the market growth. In addition, growing interest in discovering new places which brings lots of excitement, interest,& enjoyment among people are also expected to fuel the market growth.However, changing climatic conditions as well as risk involved with the adventure sports may restrain the market growth over the forecast period.
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The developed regions such as North America and Europe are expected to hold the major market share owing to the presence of variety of adventure sports destinations along with high disposable income as well as growing interest in adventure sports. Asia Pacific is expected to dominate the adventure tourism market in terms of growth rate owing to the fast developing tourism industry with lots of destinations.Moreover, growth in government initiatives to further augment the growth of tourism industry along with growing disposable income are likely to contribute the market growth.
The major market players profiled in the adventure tourism market includes 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. among others.
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