Adventure tourism is a kind of niche tourism, which involves exploration or travel to remote exotic areas along with a significant degree of risk. It includes exceptional and challenging experience during the vacation, in which traveler interact with local population and connect with their core values.
Adventure tourism includes numerous activities such as climbing, hunting, caving, cycling, rafting, hiking, and others.
According to a new report published by Allied Market Research, titled, “Adventure Tourism Market by Type, Activity, Type of Traveler, Age Group, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2019–2026,” the global adventure tourism market size was valued at $586.3 billion in 2018, and is projected to reach $1.6 trillion in 2026, registering a CAGR of 13.3% from 2019 to 2026.
Over the past few years, adventure tourism industry has grown exponentially, globally. Furthermore, travelers are interested to visit undiscovered destinations for enjoyment. In addition, increase in government initiatives in the form of private and public partnership to promote tourism fuels the growth of the global adventure tourism market demand.
However, risk involved in unpredictable weather condition and adventure traveling restricts the market growth. Moreover, increase in trend of social media is anticipated to provide great opportunity for the market growth, as Facebook has become the preferred social networking site among travelers to get the best travel deals.
The market is segmented on the basis of type, activity, type of travelers, age group, sales channel, and region. The adventure tourism market based on difficulty, risk & skill level, environment, sustainability, type of trip, physical activity & challenge, has been segment into three major segments, namely hard, soft, and others. Hard adventure tourism includes activities such as trekking, mountaineering, rock climbing, ice climbing, and caving.
These activities possess high risk and require high level of specialized skills, and therefore this segment represents a small percentage of participation. Based on activity, it is divided into land-based activity, water based-activity, and air-based activity. Depending on type of travelers, the adventure tourism market is fragmented into solo, friends/group, couple, and family.
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According to 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.
According to Shankar Bhandalkar, Team Lead Research, Consumer Goods at Allied Market Research, “Adventure tourism market is growing at the significant rate, owing to the development of the travel & tourism industry. The factors such as change in lifestyle, availability of low-cost airline carriers, increase in disposable income, and consumers seeking life changing experience/activity further accelerate the growth of the market.”
In 2018, the land-based activities segment was the leading revenue contributor to the global market. However, the air-based activities segment is expected to witness lucrative growth during the forecast period.
KEY FINDINGS of THE STUDY
- In 2018, Europe dominated the global adventure tourism market share, it was more than one-third, in terms of value.
- Asia-Pacific is estimated to witness the highest growth rate during the forecast period.
- Soft adventure segment generated the highest revenue to the global market in 2026, and is expected to grow at a CAGR of 13.6% during adventure tourism market analysis period.
- The land-based activity segment is estimated to register the highest growth rate, in terms of revenue, registering a CAGR of 13.3%.
The key players profiled in the adventure tourism market are Austin Adventures, Inc., G Adventures Inc., Mountain Travel Sobek, TUI AG., ROW Adventures, REI Adventures, InnerAsia Travel Group, Inc., Intrepid Group Limited, Butterfield & Robinson Management Services, Inc., and Abercrombie & Kent Group of Companies S.A.