The global adventure tourism market size is estimated to reach USD 1.009 trillion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.2% from 2022 to 2030. Due to declining travel-related costs, growing incomes, and a wider variety of possible tourist activities, the global adventure tourism business has experienced rapid expansion, with associated expenditure and visitor numbers rising dramatically in recent years.

Adventure tourism covers domestic and international travel that includes a range of adventurous activities including rafting, trekking, cycling, and caving, among others, as well as exposure to the outdoors and different cultures. Adventure tourism is increasingly growing and gaining more popularity than traditional mass tourism all over the world due to its versatility, capacity to assist economies, and promotion of sustainable practices.

Key Insights & Findings from the report:

• The soft adventure tourism segment dominated the market and accounted for around 65.0% share in 2021 driven by rising tourist inclination towards less or no-risk adventure activities and rising inclination among the elder age group.
• The solo adventure travelers segment is expected to witness a CAGR of 15.2% during the forecast period. This can be attributed to key initiatives taken by leading market players.
• The direct booking segment captured the largest revenue share of around 65.0% in 2021 on account of key benefits offered by companies such as immersive experience, offers on next bookings, and effective tour experience.
• Due to a strengthening economic climate, growing income levels in the area, and government measures to promote travel and tourism, Europe accounted for the largest market share of around 40.0% in 2021.

Adventure Tourism Market Growth & Trends

The growing need for an authentic and personalized travel experience, which is being driven by quick urbanization, rising disposable incomes, the influence of social media, and affordable airline tickets, are the key factors driving market expansion. Additionally, travel companies are introducing speedy, user-friendly mobile websites that are accessible on smartphones. The demand for adventure tourism is rising globally as a result of major industry participants collaborating with marketing companies to attract high-value clientele through online marketing. Government agencies in several countries also promote adventure tourism since it creates employment opportunities and benefits local development. This is further expected to drive market growth soon. However, constantly evolving demographics, adverse weather conditions, and geopolitical tensions resulting in limited air traffic are expected to hinder the market growth.

The COVID-19 epidemic has had a significant global impact on the adventure travel and tourism industry. The extensive containment and mitigation measures taken to stop the virus’s spread significantly negatively impacted travel and tourism. There is still a considerable risk of rapid changes to air travel, visa, and quarantine rules, and long-lasting confidence implications, especially among older and more wealthy visitors. This is true even though governments are increasingly moving toward a graduated relaxing of constraints. According to the World Tourism Barometer data, international visitor arrivals declined by 65% in the first half of the year.

The worldwide adventure tourism business is anticipated to become one of the fastest expanding tourist sectors, demonstrating profitable growth all over the world, during the course of the projection period. Given that many people prioritized their health and outdoor activities like cycling, walking, trekking, and swimming during and after the lockdown, adventure tourism has been identified as a potential area for growth in the domestic market. The soft adventure tourism segment held the largest revenue share of around 65.0% in 2021. The growth of the segment is driven on account of rise in the adoption of soft adventure activities such as trekking, hiking, camping, and cycling among others. The older age group has become one of the main age groups choosing soft adventure travel. Additionally, a large variety of soft adventure activities within different cities of countries and the presence of attractive landscapes is expected to have a profound impact on soft adventure tourism.

Adventure Tourism Activity Type Insights

The soft adventure tourism segment dominated the market and accounted for around 65.0% share in 2021. The growth of the segment is driven by rising tourist inclination toward soft adventure activities including trekking, hiking, cycling, camping, and scuba diving, among others. The activities included in this category have a low-risk level and thus have become popular among adventure enthusiasts, and grazers seeking extraordinary adventure experiences with low or no risk. Additionally, rising demand for soft adventure activities among the elderly age group is expected to drive market growth.

The hard adventure segment is foreseen to represent a significant revenue share of over 20.0% in 2021 on account of a gradual increase in the number of travelers/people who are willing to take on high-risk activities and are open to adventures. Hard adventure truism activities have witnessed strong growth in Europe. According to the CBI Ministry of Foreign Affairs, European adventurers are well educated, have spare income, and are often youthful, especially when engaging in hard adventure activities. This has further bolstered the segment growth in recent years.

Booking Mode Insights

The direct booking mode captured the largest revenue share and accounted for a revenue share of 65.0% in 2021. The growth of the segment is driven by the rising number of adventure tourists booking their tours and packages through direct channels due to the tailored experience and convenience. Additionally, key initiatives taken by market players such as online campaigns, and social media advertising, among others are expected to attract prospective customers to initiate their bookings through direct booking mode.

The travel agent segment is expected to register a CAGR of 14.2% over the forecast period. This is attributed to the huge trips and travel packages offered by travel agents keeping travelers’ budget and comfort in mind. People are encouraged to purchase their vacation packages through travel agents since they offer quick and fast hotel and flight bookings, and a chance to compare different accessible travel alternatives and increased customer confidence in online payments. Additionally, travel agents offer tools and market knowledge to find passengers, safeguard and process reservations, interact with visitors, and manage reviews, increasing personalized experiences.

The marketplace booking segment is anticipated to register the highest CAGR of 16.3% over the forecast period. The growth of the segment is driven by quick and easy travel and hotel bookings offered by marketplace platforms and extensive service offerings through mobile websites and applications. Market companies are progressively providing travelers with a wide selection of hotels and bookings at affordable prices. The emergence of technology and the rise in the adoption of cell phones has altered the way travelers book and customize their tours. Companies such as Trivago N.V., Viator, and Booking.com, among others, are heavily engaging in customer interaction to offer the best travel and tourism services.

Age Group Insights

Based on age group, the 51-60 segment dominated the adventure tourism market and accounted for a revenue share of over 25.0% in 2021. The growth of the segment is mainly driven by a gradual increase in the number of adventure travelers from this age group. Additionally, travelers from this age group opt for soft adventure tours and packages and prefer to spend on immersive travel experiences. Additionally, the category is anticipated to develop in the near future due to consumer desire for soft adventures and willingness to spend money on travel and tourism.

The 29-40 age group segment is expected to showcase a CAGR of 16.6% during the forecast period. According to the World Tourism Organization, over 85% of visitors in the 30-to-40-year-old age range get inspiration for their travel plans on websites like Facebook, Instagram, and Snapchat in 2019. Due to social media, they are heavily impacted and frequently motivated to travel. Therefore, during the projection period, this age group of people is anticipated to provide a sizeable part of the adventure tourism industry.

Group Insights

Among these, the couples segment held the largest revenue share of more than 40.0% and is expected to maintain its dominance during the forecast period driven by rising disposable income and rising inclination toward enjoying culture and nature-based experiences. Growing accessibility to foreign travel and the development of couples-oriented package vacations have contributed to the increase of couple vacations during the past century. The fact that persons in this age group are financially secure and have the energy and health to engage in various adventures/activities is credited with segment growth.

The solo adventure travelers segment is expected to witness a CAGR of 15.2% during the forecast period. Solo adventure trips have been rising among male and female travelers embracing their independence and solitude during the trip. Tour package offering companies are targeting solo travelers by holding singles-only food tours, incorporating diverse adventurous activities, and offering promo codes exclusively for single travelers. This has further contributed to market growth.

Regional Insights

In 2021, Europe captured the largest market share of around 40.0% driven by an improving business environment, rising income levels, and government initiatives to promote tourism and travel activities. According to the CBI Ministry of Foreign Affairs, Europe registers 100 million trips annually. There is a tremendous demand for adventure tourism since Europeans appreciate the sense of exploring new areas. This factor is anticipated to fuel market expansion throughout the continent of Europe. Additionally, it is projected that the number of online travel agencies will increase in the next years due to an escalating number of independent/solo travelers. As per the European Travel Commission (ETC), in 2019 a healthy 4% rise in visitor arrivals to Europe was made compared to 2018. In addition to serving as a driver for economic growth, rising visitor numbers also contribute to and highlight the region’s social and cultural worth by creating profits, supporting employment, and encouraging investment.

In the Asia Pacific, the market is expected to expand at a CAGR of 16.4% during the forecast period driven by government initiatives to promote adventure tourism in the regional market to drive employment and economic growth. Numerous tourists from inside the area as well as from outside the region are drawn to the Asia Pacific tourism sector. In the Asia Pacific, it is projected that intraregional visitor arrivals will increase rapidly. The region also provides a variety of leisure and adventure activities. The Asia Pacific group travel business has been considerably encouraged and accelerated by economic growth, the loosening of travel restrictions, increased competition, and aggressive promotion techniques used by the involved players in the sector together with the regional government.

List of Key Players in the Adventure Tourism Market

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