Adventure Tourism Market to Reach $2 Trillion, Globally, by 2032 at 19.5% CAGR: Allied Market Research

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Adventure Tourism Market to Reach  Trillion, Globally, by 2032 at 19.5% CAGR: Allied Market Research
Allied Analytics LLP
Allied Analytics LLP

Increase in demand for unique travel experiences, health-conscious activities, eco-tourism awareness, technological advancements in booking platforms, and government initiatives promoting adventure tourism are major factors driving adventure tourism market growth.

Wilmington, Delaware, Oct. 07, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled,Adventure Tourism Market 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 to 41 Years, 42 to 49 Years, 50 Years and Above), by Sales Channel (Travel Agents, Direct): Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global adventure tourism market size was valued at $324.9 billion in 2022, and is projected to reach $2 trillion by 2032, growing at a CAGR of 19.5% from 2023 to 2032.

Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/1604 

Prime determinants of growth

A significant rise in interest for unique and experiential travel has led travelers to seek adventure-based activities, such as hiking, rock climbing, and wildlife safaris. Increasing health consciousness has also encouraged travelers to engage in physically active and nature-based tourism. The growing awareness of eco-tourism and sustainable travel practices has boosted demand for environmentally friendly adventures in natural settings. Technological advancements in booking platforms and social media have made it easier for adventure travelers to discover and book experiences. Moreover, governments and tourism boards promoting adventure tourism in regions rich with natural landscapes have contributed to market expansion. The post-pandemic shift toward outdoor, open-air experiences has further fueled adventure tourism market demand, as travelers prioritize safety while seeking thrilling, immersive experiences.

Report coverage & details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2022

$324.90 billion

Market Size in 2032

$2 Trillion

CAGR

19.5%

No. of Pages in Report

350

Segments covered

Type, Activity, Type of Traveler, Age Group, Sales Channel, and Region

Drivers

Pursuit of unique experiences to augment the tourism industry  Mobile applications, big data analytics, and artificial intelligence evolving together amidst proliferating tourism industry  High penetration of the Internet

Opportunities

Rise of social media  Heavy investment in better infrastructure

Restraints

Increase in terrorism and crime rate, political uncertainty, and natural calamities

The soft segment to maintain its leadership status during the forecast period

By type, the soft segment held the highest market share in 2022, accounting for more than half of the adventure tourism market revenue and is estimated to maintain its leadership status throughout the forecast period. Adventure travelers focus on less risky adventure activities and are more open to other elements such as the natural environment, learning, and meaningful lifelong experience. Older travelers occupy a major part of this segment mainly due to preference or safety issues. The soft segment was the largest segment in 2022 and is expected to remain dominant throughout the forecast period. The growth in this segment is attributed to the moderate to low-risk level activities in this category thus making it highly accessible to people of different age groups.

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