The “Culinary Tourism Market by Type (Domestic and International) and Geography (Europe, North America, APAC, South America, and MEA) – Forecast and Analysis 2021-2025” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the culinary tourism market between 2020 and 2025 is USD 31.42 billion. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
Market Driver – The increase in integrative culinary and cultural events is one of the critical factors that will trigger the growth of the global culinary tourism market in the upcoming years. The growing number of local culinary programs introduced at music and arts festivals offers opportunities to foodservice providers and other culinary tourism suppliers to gain access to a potential customer base. Culinary tourism is gaining popularity among consumers. Destination management organizations (DMOs) are taking initiatives to leverage the growth of several art events and festivals to explore the role of food in them.Market Challenges – However, the such as eliteness quotient attached with luxury travels may impede the market growth. Luxury tourism, including culinary tourism, is considered to be an elite part of any lifestyle due to the high cost associated with it. This type of tourism is mostly enjoyed by the affluent sections of society. Most consumers in the developing and developed regions are reluctant to get involved in such types of activities, owing to the high cost involved. The elite nature of culinary tourism restricts the growth of the global culinary tourism market because many tourists, especially mass tourists, hesitate to spend too much on such trips. This, in turn, affects the global culinary tourism market growth during the forecast period.
To learn about additional key drivers, trends, and challenges – Read our FREE Sample Report right now!
Market Segmentation:
The culinary tourism market report is segmented by Type (Domestic and International) and Geography (Europe, North America, APAC, South America, and MEA).
31% of the market’s growth will originate from Europe during the forecast period. Germany, France, and the UK are the key markets for culinary tourism in Europe. Market growth in this region will be slower than the growth of the market in other regions. The increasing number of culinary tourist arrivals and the availability of cruising experiences for luxury travel seekers will facilitate the culinary tourism market growth in Europe over the forecast period.The domestic culinary tourism segment dominated the global culinary tourism market in 2020. It will continue its dominance throughout the forecast period as consumers are familiar with the domestic culinary tourism policies and rules and the financial tax imposed is lesser than that of international culinary tourism. The domestic market for culinary tourism is also driven by easy government regulations and a lack of currency exchange issues. The growth of the market segment is expected to be significant during the forecast period.
View our sample report for additional insights into the contribution of all the segments & regional opportunities in the report.
Some Companies Mentioned
The culinary tourism market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
Abercrombie & Kent USA LLCButterfield & Robinson Inc.Classic JourneysG AdventuresGourmet On Tour Ltd.Greaves Travel Ltd.International Culinary ToursITC Travel Group Ltd.The Travel Corp.Topdeck Travel Ltd.To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
Related Reports:
The tourism and hotel market in Indonesia is expected to increase by USD 21.93 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 11.81%. Download a free sample now!The sustainable tourism market share is expected to increase by USD 235.21 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 9.72%. Download a free sample now!
Culinary Tourism Market Scope
Report Coverage
Details
Page number
120
Base year
2020
Forecast period
2021-2025
Growth momentum & CAGR
Accelerate at a CAGR of 7%
Market growth 2021-2025
USD 31.42 billion
Market structure
Fragmented
YoY growth (%)
3.45
Performing market contribution
Europe at 31%
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Abercrombie & Kent USA LLC, Butterfield & Robinson Inc., Classic Journeys, G Adventures, Gourmet On Tour Ltd., Greaves Travel Ltd., International Culinary Tours, ITC Travel Group Ltd., The Travel Corp., and Topdeck Travel Ltd.
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Key Topics Covered:
Executive Summary
Market Landscape
Market ecosystemValue chain analysis
Market Sizing
Market definitionMarket segment analysisMarket size 2020Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
Five Forces AnalysisBargaining power of buyersBargaining power of suppliersThreat of new entrantsThreat of substitutesThreat of rivalryMarket condition
Market Segmentation by Type
Market segmentsComparison by TypeDomestic – Market size and forecast 2020-2025International – Market size and forecast 2020-2025Impact of COVID-19 on type segments of market and recovery from pandemicMarket opportunity by Type
Customer landscape
Customer landscape
Geographic Landscape
Geographic segmentationGeographic comparisonEurope – Market size and forecast 2020-2025North America – Market size and forecast 2020-2025APAC – Market size and forecast 2020-2025South America – Market size and forecast 2020-2025MEA – Market size and forecast 2020-2025Key leading countriesMarket opportunity by geographyMarket driversMarket challengesMarket trends
Vendor Landscape
Vendor landscapeLandscape disruption
Vendor Analysis
Vendors coveredMarket positioning of vendorsAbercrombie & Kent USA LLCButterfield & Robinson Inc.Classic JourneysG AdventuresGourmet On Tour Ltd.Greaves Travel Ltd.International Culinary ToursITC Travel Group Ltd.The Travel Corp.Topdeck Travel Ltd.
Appendix
Scope of the reportCurrency conversion rates for US$Research methodologyList of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.
This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
This article was shared with Prittle Prattle News as a Press Release.
Must Read:
Follow Us: Facebook | Instagram | Twitter | YouTube | LinkedIn | Pinterest | Tumblr
