DUBLIN--(BUSINESS WIRE)--The "Culinary Tourism Market by Activity Type, Age Group and Mode of Booking: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The global culinary tourism market was valued at $1,116.7 billion in 2019 and is expected a market value of $1,796.5 billion by 2027, registering a CAGR of 16.8% from 2020 to 2027.
The growth of culinary tourism is driven by increase in government initiatives to promote tourism. Moreover, rise in affinity of people toward foreign dishes such as Sushi, various forms of prepared meat, snacks and more among others promotes the culinary tourism market growth. However, risk involved in travelling and unpredictable weather conditions are few major challenges to the tourism industry in general, which also affects the culinary tourism market. On the contrary, an increase in social media trend of eating out in foreign lands has piqued the interest of tourists all around and has opened avenues for growth for the culinary tourism market.
The market is segmented on the basis of activity type, age group, mode of booking, and region. By activity type, the market has been classified into culinary trials, cooking classes, restaurants, food festivals and others. By age group, it is categorized into Baby Boomers, Generation X, Generation Y, and Generation Z. The Mode of Booking segment includes OTA, traditional agents and direct travel. Based on region, the culinary tourism market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits
- The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019-2027 identify the prevailing culinary tourism opportunities.
- Porter's five forces analysis highlights the potency of buyers and supplier's tenable stakeholder's make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the size and segmentation assists in determining the prevailing market opportunities.
- The major countries in each region are mapped according their revenue contribution the industry.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the culinary tourism industry.
Market Dynamics
Drivers
- Pursuit of Unique Experiences to Augment the Global Tourism Industry
- Mobile Applications, Big Data Analytics, and Artificial Intelligence Evolving Together Amidst Proliferating Tourism Industry
- Rise of Social Media Positively Impacting the Travel Industry
Restraint
- Increase in Terrorism & Crime Rate, Political Uncertainty, and Natural Calamities
- Nature and Tourism No Longer in Sync
Opportunity
- Unique Destinations Gaining High Traction Among Tourists
- Option for Convenient and Budget Friendly Accommodation
Companies Mentioned
- Abercrombie & Kent USA
- Classic Journeys
- G Adventures
- Greaves Travel
- India Food Tour
- ITC Travel Group Limited
- The FTC4Lobe Group
- The Travel Corporation
- Topdeck Travel
- Tour Radar
For more information about this report visit https://www.researchandmarkets.com/r/ln44cu
