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Covid-19 Impact Theme Park Vacation Market Demand Analysis, Statistics, Trends and Investment Opportunities to 2026

05-11-2020 06:12 AM CET | Leisure, Entertainment, Miscellaneous

Press release from: Allied Market Research

Theme Park Vacation Market

Theme Park Vacation Market

The global theme park vacation market has witnessed robust growth over the past few years, owing to introduction of innovative themed attractions such as lucrative rides, water parks, architecture, shows, landscape, food service, and retail shops. The ability to innovate and deploy globally competitive technologies such as artificial intelligence and IoT acts as the key driver of the global theme park vacation market.

The global theme park vacation market size was valued at $47.2 billion in 2018, and is estimated to reach $74.7 billion by 2026 with a CAGR of 6.0%. Theme park is an outdoor attraction comprising rides, shows, restaurants, retail shops, architecture rides, costumed personnel and landscape. Theme park is an example of highly developed, capital-intensive, user-oriented recreational environments. Moreover, it is designed considering a group of themes or a central theme, and charges a pay-one-price admission fee to a visitor.

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The global theme park vacation market is segmented into type, age group, traveler type, sales channel, and region. By type, the market is categorized into water park, children's play park, adventure park, and others. Depending on age group, it is classified into baby boomers, generation X, millennials, and generation Z. On the basis of traveler type, it is bifurcated into solo and group. As per sales channel, it is segregated into online and direct. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, ASEAN, India, and rest of Asia-pacific), and LAMEA (Latin America, the Middle East, and Africa).

On the basis of type, the adventure park segment led in terms of theme park vacation market in 2018, and is expected to retain its dominance during the forecast period. This is attributed to increase in arrangement of school and college trips to adventure parks, as they function as edutainment.

On the basis of age group, the millennials segment led the theme park vacation market in 2018. This is attributed to the fact that millennials visit theme parks frequently for relaxation and entertainment, as they are mostly attracted by ambience of theme parks.

By traveler type, the group segment leads the theme park vacation market, as consumers enjoy visiting parks in groups. In addition, visiting in groups provides enhanced experience and encourages visitors for longer stays in theme parks.

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The key players operating in the global theme park vacation industry are Walt Disney Attraction, Merlin Entertainment Group, Universal Parks and Resorts, Oct Parks China, Fantawild, Chimelong Group, Six Flags Inc., Cedar Fair Entertainment Company, Seaworld Parks & Entertainment, Parques Reunidos, LOTTE World, Nagashima Spa Land, Everland Gyeonggi-Do, Ocean Park, Europe Park, De Eftling, and Tivoli Gardens.

Read More: https://www.alliedmarketresearch.com/theme-park-vacation-market

Source: https://www.prnewswire.com/news-releases/theme-park-vacation-market-to-reach-74-7-bn-globally-by-2026-at-6-0-cagr-says-allied-market-research-300933037.html

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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