NEW CASTLE, Del., September 25, 2023 (Globe Newswire) — Allied Market Research has published a report titled: “beach tour market by Service type (accommodation, transportation, activities, meals) and Beverage), Traveler (Single, Group), Budget (Standard, Premium, Luxury): Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global beach tour market generated $214.3 billion in 2022 and is expected to generate $357 billion by 2032, witnessing a CAGR of 5.3% from 2023 to 2032.
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A beach tour is a leisurely exploration of coastal areas characterized by sandy beaches, breathtaking ocean views, and an abundance of exciting entertainment. This type of trip typically includes visits to various beaches along the coastline, offering opportunities to relax, swim, sunbathe, and participate in water-based activities such as surfing and snorkeling. Beach tours often include discovering nearby attractions, such as seaside towns, local markets, and natural landmarks.
Key determinants of growth
The global beach tourism market is growing due to the surge in demand for experiential travel, increase in adventure tourism, and growing interest in sustainable tourism. However, seasonality, weather dependence, environmental fragility, and climate change restrain the market growth to some extent. Nevertheless, untapped and emerging markets are expected to offer rewarding growth opportunities in the coming years.
Report scope and details:
|Market size in 2023||$214.3 billion|
|Market size in 2032||$357 billion|
|Number of pages in the report||433|
|Target segment||Type of service, travelers, budget, region|
|driver||Rapid increase in demand for experiential travel Increase in adventure tourism Growing interest in sustainable tourism|
|opportunity||Untapped emerging markets|
|restraints||Seasonality and weather dependence Environmental vulnerability and climate change|
The accommodation segment is maintain Leadership position over the forecast period
Based on service type, the accommodation sector is estimated to hold the highest market share in 2023, accounting for more than one-third of the global beach tour market revenue and maintain its leadership position throughout the forecast period. The growing demand for unique and experiential accommodations is a major driver. However, the activity segment is projected to exhibit the highest CAGR of 6.3% from 2023 to 2032.
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The group segment is maintain Leadership position over the forecast period
Based on travelers, the group segment is estimated to hold the highest market share in 2022, accounting for over three-quarters of the global beach tour market revenue and maintain its leadership position throughout the forecast period. Multi-generational group travel is on the rise, with families and extended families vacationing together at the beach. The desire to share experiences, deepen bonds, and create lasting memories drives the growth of this segment. Moreover, the solo segment is projected to exhibit the highest CAGR of 5.9% from 2023 to 2032.
The premium segment is maintain Leadership status throughout the forecast period.
Based on budget, the premium segment is estimated to hold the highest market share in 2022, accounting for nearly three-fifths of the global beach tour market revenue and maintain its leadership position throughout the forecast period. Rising affluence and disposable income among travelers is contributing to the growth of the premium segment as more individuals seek luxurious and exclusive experiences. Furthermore, the standard segment is projected to exhibit the highest CAGR of 6.3% from 2023 to 2032.
Europe will gain major share in 2022
By region, Europe accounted for the highest market share in terms of revenue in 2022, accounting for approximately one-third of the global beach tour market revenue. The growing popularity of experiential travel and demand for unique beach experiences are driving the growth of European beach destinations.
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Moreover, Asia Pacific is also expected to witness the fastest CAGR of 6.4% from 2023 to 2032 and is likely to dominate the market during the forecast period. The rise of the middle class and increasing disposable income are driving growth in domestic and international tourism to beach destinations in Asia-Pacific.
major market players: –
- TUI group
- Expedia Group Co., Ltd.
- TripAdvisor Co., Ltd.
- thomas cook
- Booking.com BV
- Airbnb Co., Ltd.
- Cox & Kings Co., Ltd.
- apple leisure group
- Kuoni Travel Group
- On the Beach Group.
This report offers a detailed analysis of these leading companies in the global Beach Tours market. These players have adopted various strategies such as launching new distribution channels, collaborations, expansions, joint ventures, agreements, etc. to increase their market share and maintain a dominant share in different regions. I am. The report helps to introduce the competitive scenario by highlighting business performance, business segments, and strategic moves of market players.
Country reports for this industry:
• Canada Beach Tours Market Opportunity Analysis and Industry Forecast, 2022-2032
• Mexico Beach Tours Market Opportunity Analysis and Industry Forecast, 2022-2032
• Europe Beach Tours Market Opportunity Analysis and Industry Forecast, 2022-2032
• Germany Beach Tours Market Opportunity Analysis and Industry Forecast, 2022-2032
• UK Beach Tours Market Opportunity Analysis and Industry Forecast, 2022-2032
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