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Global Adventure Tourism Market Report by Type, Activity, Age Group, Sales Channel, and Region 2023-2028

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  • 143 Pages
  • November 2023
  • Region: Global
  • IMARC Group
  • ID: 5911944

Quick Summary:

In the dynamic realm of the adventure tourism industry, the lure of exploring untaped landscapes and engaging in thrilling activities has led to an unprecedented surge in the market. Individuals are increasingly valuing unique, transformative travel experiences that challenge the mind and body, as they seek to immerse themselves within different cultures and environments. This transformative appeal of adventure tourism is shaping an industry that expertly blends excitement with ecological consciousness and cultural respect.

Our comprehensive market research report delves into the burgeoning demand for individualized and authentic adventure experiences, offering nuanced insights into various facets influencing the industry. As travel behaviors pivot towards meaningful engagement, the market is witnessing an increase in diverse offerings designed to satiate the appetite for adventure tourism. With advancements in technology simplifying planning and access, and a burgeoning awareness of the holistic benefits that such escapades afford, there is a clear opportunity for discerning business executives to tap into the evolving landscape of global adventure tourism. This report provides an indispensable tool for understanding and harnessing the key trends that define and drive this vibrant sector.

The global adventure tourism market size reached US$ 1,036 Billion in 2022. Looking forward, the market is expected to reach US$ 3,001 Billion by 2028, exhibiting a growth rate (CAGR) of 19.39% during 2022-2028. Rising demand for adventure tourism, surging popularity of authentic and individualized travel experiences, growing preference for sustainable adventure tourism, inflating income levels, favorable government policies, expanding social media influence, and increasing penetration of smartphones are some of the major factors propelling the market.

Adventure tourism is an evolving segment within the tourism industry that focuses on travel experiences centered around adventure activities. These activities often involve physical exertion, interaction with nature, and excitement, frequently taking place in natural or remote settings. Adventure tourism comprises hiking, mountain climbing, rafting, and scuba diving, among others. The appeal of adventure tourism is in the adrenaline rush and the opportunity for personal growth, skill development, and a deepened respect for natural and cultural environments. This tourism category is increasingly gaining attention for its potential to promote sustainable practices, as it often relies on pristine natural landscapes and, therefore, has an interest in their preservation.

The increasing consumer preference for experiential travel over material possessions is leading more people to seek unique, off-the-beaten-path experiences, thereby driving the demand for adventure tourism. In addition to this, the rise of social media platforms is acting as another major factor influencing the adventure tourism market, as they provide travellers with a platform to share and showcase their experiences, thereby inadvertently promoting the thrill and beauty of adventure activities. Moreover, significant advancements in technology, such as booking platforms, mobile apps, and digital payment options, are simplifying the planning and execution of adventure trips, thereby lowering barriers to entry for consumers, which is contributing to the market growth. Besides this, the growing awareness of the physical and mental health benefits such as ranging from improved cardiovascular health to stress reduction of outdoor activities like hiking, kayaking, and mountain climbing is encouraging increased participation in adventure tourism. Furthermore, supportive government initiatives aimed at promoting tourism, including adventure tourism, are contributing to the market growth.

Adventure Tourism Market Trends/Drivers

Increasing consumer desire for experiential travel

The shift towards valuing experiences over material goods is profoundly impacting the travel and tourism industry. In the context of adventure tourism, this manifests as a growing consumer appetite for trips that offer more than just leisure or sightseeing as they seek transformative experiences. Adventure activities, whether it’s trekking through untamed wilderness or diving in exotic marine environments, provide these transformative experiences by challenging individuals both physically and emotionally. This craving for substantive experiences is not just a fleeting trend; it is substantiated by various consumer surveys and market studies. The experiences sought often encourage personal growth, offer novel perspectives, and facilitate meaningful human connections. As a result, travel agencies, tour operators, and destination marketers are recognizing this shift and are consequently expanding their adventure tourism offerings to meet the growing demand.

The impact of social media

Social media platforms have emerged as strong tools for influencing consumer behavior, and the adventure tourism market is no exception. Moreover, social media platforms are proliferated with travel content, showcasing both mainstream and off-the-beaten-path experiences. Adventure tourism activities, which are inherently photogenic and shareable, frequently go viral, creating a sort of online 'word-of-mouth' effect. Besides this, social media also serves as a platform for reviews and recommendations, building credibility and trust among potential adventurers. Furthermore, the sense of community fostered by these platforms can inspire individuals to undertake activities they may not have otherwise considered. Businesses within the adventure tourism sector are increasingly leveraging social media for marketing, understanding its role in shaping consumer preferences and expectations.

Advancements in technology

Ongoing technological innovations are making it significantly easier for consumers to access the adventure tourism market. Booking platforms and mobile apps streamline the planning process, offering consumers an array of options tailored to their specific interests and capabilities. These platforms often come equipped with features like real-time availability, customer reviews, and secure payment gateways, thereby reducing the logistical challenges traditionally associated with adventure tourism. Additionally, technology is also improving safety measures global positioning system (GPS) tracking, advanced weather forecasting, and emergency communication systems are making adventure activities more secure, thus reducing one of the significant barriers that potential travelers might face. The adoption of these technologies is acting as a catalyst enabling more people to participate in adventure tourism activities.

Adventure Tourism Industry Segmentation

This research provides an analysis of the key trends in each segment of the market report, along with forecasts at the global, regional, and country levels from 2023-2028. The report has categorized the market based on type, activity, age group, and sales channel.

Breakup by Type:

  • Hard Adventure
  • Soft Adventure
  • Soft adventure accounts for the majority of the market share
The report has provided a detailed breakup and analysis of the market based on the type. This includes hard adventure and soft adventure. According to the report, soft adventure represented the largest segment.

Soft adventure activities, such as hiking, cycling, and snorkeling, tend to be more accessible to a broad range of people, including those with varying fitness levels and ages. This inclusivity enlarges the market demographic, thereby boosting the market growth. Concurrent with this, these activities usually require less specialized equipment and training, making them more convenient and cost-effective for the average traveler, which, in turn, is strengthening the market growth. Furthermore, soft adventure tourism often poses fewer risks compared to hard adventure activities, such as rock climbing or white-water rafting, making it more appealing to safety-conscious travelers, thus creating a favorable outlook for market expansion.

Breakup by Activity:

  • Land-based Activity
  • Water-based Activity
  • Air-based Activity
  • Land-based activity holds the largest share in the industry
A detailed breakup and analysis of the market based on the activity has also been provided in the report. This includes land-based, water-based, and air-based activities. According to the report, land-based activity accounted for the largest market share.

The accessibility of land-based activities like hiking, trekking, and mountain biking is generally higher compared to water-based or air-based activities. These activities often require less specialized equipment and training, making them more approachable for a broader audience. In confluence with this, many popular tourist destinations are better equipped to offer land-based activities due to their geographical features, such as mountain ranges, forests, and deserts. This widespread availability boosts participation rates, aiding in market expansion. Another contributing factor is the versatility of land-based adventures, which can cater to varying skill levels and preferences, thereby attracting a diverse range of participants.

Breakup by Age Group:

  • Below 30 Years
  • 30-41 Years
  • 42-49 Years
  • 50 Years and Above
  • 30-41 years represent the leading market segment
The report has provided a detailed breakup and analysis of the market based on the age group. This includes below 30 years, 30-41 years, 42-49 years, and 50 years and above. According to the report, 30-41 years represented the largest segment.

Individuals in this age range often find themselves in a life stage conducive to adventure travel. They are typically past the stage of early career uncertainties and family planning, which can limit travel opportunities. Consequently, they have more disposable income and time to devote to adventurous pursuits, which is presenting lucrative opportunities for market expansion. In addition to this, this demographic cohort places a high value on experiences and personal growth, propelling the market forward. Adventure tourism offers opportunities for self-discovery, challenge, and pushing boundaries, aligning with the values and desires of this age group.

Breakup by Sales Channel:

  • Travel Agent
  • Direct
  • Direct exhibits a clear dominance in the market
The report has provided a detailed breakup and analysis of the market based on the sales channel. This includes travel agent and direct. According to the report, direct represented the largest segment.

Direct sales channels provide tour operators and adventure companies with greater control over their offerings, allowing them to customize experiences to the specific needs and preferences of their target audience. This customization enhances customer satisfaction and loyalty, which is aiding in market expansion. Moreover, direct channels enable these businesses to maximize their profit margins by eliminating third-party commissions and fees associated with intermediaries. This cost-effectiveness allows for competitive pricing and attractive package deals, drawing in more customers, thereby influencing the market growth. With the growing emphasis on authenticity and unique experiences in adventure tourism, direct sales channels are well-positioned to continue their dominance in this market.

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Latin America
  • Brazil
  • Mexico
  • Middle East and Africa
  • Europe leads the market, accounting for the largest adventure tourism market share
The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe accounted for the largest market share.

Europe's dominance in the adventure tourism market can be attributed to the continent's rich diversity of landscapes and environments providing an ideal playground for a wide range of adventure activities, from alpine skiing in the Swiss Alps to hiking in the Scottish Highlands. Furthermore, the geographical diversity of Europe attracts adventure seekers from around the world, creating a favorable outlook for market expansion. In line with this, Europe's well-developed infrastructure, including extensive trail networks, well-maintained national parks, and efficient transportation systems, makes it convenient for travelers to access and enjoy these adventure experiences. Apart from this, Europe's strong commitment to sustainability and environmental conservation aligns with the responsible and eco-friendly ethos often associated with adventure tourism, further enhancing its appeal.

Competitive Landscape

The global adventure tourism market boasts a dynamic and competitive landscape, characterized by a mix of established players and emerging entrants striving to cater to the growing demand for adventurous and experiential travel. The leading players in the adventure tourism market are actively shaping the industry through strategic initiatives. They are also emphasizing sustainability, incorporating eco-friendly practices and responsible tourism principles to minimize their environmental impact. Moreover, these key players are investing in technology, using digital platforms to streamline bookings, enhance customer experiences, and provide real-time updates to adventurers. Collaborations with local communities and indigenous groups are becoming more common, ensuring that the benefits of adventure tourism are shared with the destinations' residents.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
  • Abercrombie & Kent USA LLC
  • Austin Adventures Inc.
  • Butterfield & Robinson Inc.
  • Cox & Kings Ltd.
  • Discovery Nomads
  • G Adventures
  • Geographic Expeditions Inc.
  • Intrepid Group Limited
  • Mountain Travel Sobek
  • Recreational Equipment Inc.
  • ROW Adventures
  • TUI AG
(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Recent Developments

In April 2023, Abercrombie & Kent, luxury travel company launched a new expedition cruise that will give guests a chance to venture to Earth's northernmost point.

In December 2022, Active Adventures and Austin Adventures launched their revamped brands, driven by feedback from guests, employees, and partners, with a focus on delivering inspiring global adventure travel experiences.

In April 2021, Trivago, a leading global accommodation search platform, collaborated with TUI Group, the world’s leading tourism group, to provide trivago users with direct access to more than 55,000 excursions, activities and tickets.

Key Questions Answered in This Report

1. What was the size of the global adventure tourism market in 2022?
2. What is the expected growth rate of the global adventure tourism market during 2023-2028?
3. What are the key factors driving the global adventure tourism market?
4. What has been the impact of COVID-19 on the global adventure tourism market?
5. What is the breakup of the global adventure tourism market based on the type?
6. What is the breakup of the global adventure tourism market based on the activity?
7. What is the breakup of the global adventure tourism market based on the age group?
8. What is the breakup of the global adventure tourism market based on the sales channel?
9. What are the key regions in the global adventure tourism market?
10. Who are the key players/companies in the global adventure tourism market?
Frequently Asked Questions about the Global Adventure Tourism Market

What is the estimated value of the Global Adventure Tourism Market?

The Global Adventure Tourism Market was estimated to be valued at $1036 Billion in 2022.

What is the growth rate of the Global Adventure Tourism Market?

The growth rate of the Global Adventure Tourism Market is 19.4%, with an estimated value of $3001 Billion by 2028.

What is the forecasted size of the Global Adventure Tourism Market?

The Global Adventure Tourism Market is estimated to be worth $3001 Billion by 2028.

Who are the key companies in the Global Adventure Tourism Market?

Key companies in the Global Adventure Tourism Market include Alfa Laval AB, Andritz AG, Cole, Parmer Instrument Company LLC, Danaher Corporation, General Electric Company, Koch Separation Solutions (Koch Industries Inc.), Merck KGaA, Novasep and Parker.

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Adventure Tourism Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Hard Adventure
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Soft Adventure
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Activity
7.1 Land-based Activity
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Water-based Activity
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Air-based Activity
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Age Group
8.1 Below 30 Years
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 30-41 Years
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 42-49 Years
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 50 Years and Above
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Sales Channel
9.1 Travel Agent
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Direct
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States Market Trends Market Forecast
10.1.2 Canada Market Trends Market Forecast
10.2 Asia-Pacific
10.2.1 China Market Trends Market Forecast
10.2.2 Japan Market Trends Market Forecast
10.2.3 India Market Trends Market Forecast
10.2.4 South Korea Market Trends Market Forecast
10.2.5 Australia Market Trends Market Forecast
10.2.6 Indonesia Market Trends Market Forecast
10.2.7 Others Market Trends Market Forecast
10.3 Europe
10.3.1 Germany Market Trends Market Forecast
10.3.2 France Market Trends Market Forecast
10.3.3 United Kingdom Market Trends Market Forecast
10.3.4 Italy Market Trends Market Forecast
10.3.5 Spain Market Trends Market Forecast
10.3.6 Russia Market Trends Market Forecast
10.3.7 Others Market Trends Market Forecast
10.4 Latin America
10.4.1 Brazil Market Trends Market Forecast
10.4.2 Mexico Market Trends Market Forecast
10.4.3 Others Market Trends Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Abercrombie & Kent USA LLC Company Overview Product Portfolio
15.3.2 Austin Adventures Inc. Company Overview Product Portfolio
15.3.3 Butterfield & Robinson Inc. Company Overview Product Portfolio
15.3.4 Cox & Kings Ltd. Company Overview Product Portfolio Financials
15.3.5 Discovery Nomads Company Overview Product Portfolio
15.3.6 G Adventures Company Overview Product Portfolio
15.3.7 Geographic Expeditions Inc. Company Overview Product Portfolio
15.3.8 Intrepid Group Limited Company Overview Product Portfolio
15.3.9 Mountain Travel Sobek Company Overview Product Portfolio
15.3.10 Recreational Equipment Inc. Company Overview Product Portfolio
15.3.11 ROW Adventures Company Overview Product Portfolio
15.3.12 TUI AG Company Overview Product Portfolio Financials SWOT Analysis

Companies Mentioned

  • Abercrombie & Kent USA LLC
  • Austin Adventures Inc.
  • Butterfield & Robinson Inc.
  • Cox & Kings Ltd.
  • Discovery Nomads
  • G Adventures
  • Geographic Expeditions Inc.
  • Intrepid Group Limited
  • Mountain Travel Sobek
  • Recreational Equipment Inc.
  • ROW Adventures
  • TUI AG