Adventure Tourism Market Size, Share & Trends Analysis Report By Activity Type (Hard, Soft), By Group (Solo, Couples, Family, Groups), By Booking Mode, By Age Group, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global adventure tourism market size was valued at USD 282.1 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 15.2% from 2022 to 2030. The adventure tourism industry witnessed strong growth and related spending due to the increased number of travelers in recent years is driving the market demand. Driven by rising income levels and falling costs in aviation and accommodation, the number of international tourists rose to more than 1.5 billion by the end of 2019 from 680 million in 2000 according to the statistics by UN World Tourism Organization; and IMF staff calculations.

Adventure tourism involves domestic and international traveling that entails various adventurous activities such as rafting, trekking, cycling, caving, among others, natural environment, and cultural immersion. Additionally, it provides practical and cost-effective incentives to promote bio-cultural variety while bringing in revenue for regional and private sectors. Due to its adaptability, ability to support economies, and promotion of sustainable practices, adventure tourism is now becoming more popular than traditional mass tourism across the globe.

The adventure travel and tourism sector has been greatly impacted by the COVID-19 outbreak on a global scale. Travel and tourism have been severely impacted by the broad containment and mitigation efforts to halt the spread of the virus. Although nations are gradually moving toward a staged easing of regulations, there is still a high danger of abrupt changes to air travel, visa, and quarantine policies, as well as long-lasting confidence consequences, particularly among older and more affluent tourists. The significant financial and social consequences of the pandemic will probably leave tourism-dependent countries (TDC) damaged, ushering in a post-pandemic "new normal." According to the World Tourism Organization, the devastating effects of COVID-19 on the industry caused international visitor arrivals to drop by 93% in June compared to the same month in 2019.

In the first half of the year, foreign visitor arrivals decreased by 65%, according to the most recent World Tourism Barometer report from a United Nations specialized organization. Given that the global reaction to the epidemic included border closures and travel restrictions, this represents an unprecedented decrease. However, the global adventure tourism industry is expected to emerge as one of the fastest-growing tourism sectors showcasing lucrative growth across the globe during the forecast period. The coronavirus epidemic has had a terrible effect on the travel and tourism sector and altered people's lives all around the nation. Adventure travel has been recognized as a potential area for growth in the domestic market since wellness and outdoor activities like cycling, walking, trekking, and swimming have become a priority for many during and after the lockdown.

One of the main drivers of market expansion is the increased need for an authentic and individualized travel experience, which is being driven by rapid urbanization, rising disposable incomes, the impact of social media, and economical airline tickets. In addition, travel agencies are launching quick, mobile-friendly websites that are simple to use on smartphones. These services provide peer evaluations, 360-degree video tours, and straightforward pricing comparisons, which aid online vacation planning and booking among travelers. This is providing a profit outlook for the business together with the expanding internet penetration and offers them an opportunity to expand their business.

Additionally, key industry players are working together with marketing firms to draw in high-value clients through internet marketing, which is helping to increase demand for adventure tourism around the globe. Government organizations in many nations are also encouraging adventure tourism since it generates job opportunities and has a positive impact on community development. The global appeal of adventure tourism is anticipated to rise as a result. Unpredictable climate change, environmental degradation, and cultural and linguistic loss are a few of the possible risks associated with adventure tourism. These factors are expected to limit the expansion of the adventure tourism sector in the upcoming years.

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 elder 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 that are willing to take 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 are taken by market players such as online campaigns, and social media advertising, among others are expected to attract prospect 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 cellphones 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 on 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 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 would 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, loosening of travel restrictions, increased competition, and aggressive promotion techniques used by the involved players in the sector together with the regional government.

Key Companies & Market Share Insights

Key market participants are depended on tactics like product launches and business growth to increase their market shares and maintain relevance in the international adventure tourism industry. The market for adventure tourism comprises several important players. To boost their market growth, these firms are actively focusing on product improvements and new travel locations. For instance, in February 2021 Wilderness England introduced a new adventure holiday package to help travelers discover England’s National Parks and wildest areas. Some of the prominent players in the adventure tourism market include:

• Austin Adventures, Inc.

• Butterfield & Robinson Inc.

• G Adventures

• Geographic Expeditions Inc.

• Intrepid Group, ltd.

• Mountain Travel Sobek

• Discovery Nomads

• Row Adventures

• Tui Group

• Cox & Kings Ltd.

Adventure Tourism Market Report Scope

Global Adventure Tourism Market Segmentation

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global adventure tourism market report based on activity type, group, booking mode, age group, and region:

• Activity Type Outlook (Revenue, USD Billion, 2017 - 2030)

  • Hard

  • Soft

  • Others

• Group Outlook (Revenue, USD Billion, 2017 - 2030)

  • Solo

  • Couples

  • Family

  • Groups

• Booking Mode Outlook (Revenue, USD Billion, 2017 - 2030)

  • Direct

  • Travel Agent

  • Marketplace Booking

• Age Group Outlook (Revenue, USD Billion, 2017 - 2030)

  • 28 and Under

  • 29-40

  • 41-50

  • 51-60

  • 61-70

  • 71 and Over

• Regional Outlook (Revenue, USD Billion, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • South Korea

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa