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Theme Park Vacation Market is projected to reach $74.7 billion by 2026, registering a CAGR of 6.0% from 2021 to 2026.

06-24-2021 04:25 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Allied market research

/ PR Agency: Allied Market Research
Theme Park Vacation Market is projected to reach $74.7 billion

According to a new report published by Allied Market Research, titled, "Theme Park Vacation Market by Type, Age Group, Traveler Type, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global theme park vacation market size was valued at $47.2 billion in 2018, and is projected to reach $74.7 billion by 2026, registering a CAGR of 6.0% from 2019 to 2026. Theme park is as an outdoor attraction, which combines rides, shows, and other relevant activities. Theme parks emphasizes on one central theme around which landscape, shows, architecture, food services, costumed personnel, rides, and retailing are orchestrated.

Major shift of consumers toward experiencing thrill, entertainment, and happiness is a key factor that drives the growth of the global theme park vacation market. As a result spending on experiences such as theme park vacation have seen a significant increment in the last few years.

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Stakeholders are the theme park as destination for tourist, enabling longer stays. Furthermore, theme parks not only involve themed carnival rides and roller coasters but also include high-tech virtual environments and simulators that are exciting and new making them a unique destination for holidays. Moreover, stakeholders in the theme park are focusing on providing knowledge with fun and entertainment, which bolsters the growth of the global theme park vacation market. However, increase in incidents of accidents in theme parks owing to improper operation of rides, passenger misuse or failure to follow instructions, mechanical failure of rides or inherent nature of rides negatively impacts the growth of the global theme park vacation market.

Furthermore, increase in footfall of all age groups in theme parks, including baby boomers, generation X, millennials, and generation Z is expected to fuel the market growth. Generation Z are consumers who regularly visit theme park for enjoyment and refreshment with their friends and families, as they are more interested in outdoor entertainment. In addition, this generation explore new places and seek for innovative rides, thereby augmenting the theme park vacation market growth.

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Key Findings Of Theme Park Vacation Market:

Based on type, the adventure park segment dominates the global theme park vacation market in 2018, and is expected to retain its dominance throughout the theme park vacation market forecast period.

Depending on age group, spending by millennials segment accounted for highest share in the theme park vacation market analysis in 2018, and is projected to grow at a CAGR of 6.3% from 2019 to 2026.

By traveler type, the group segment was the major shareholder in 2018, and is projected to register a CAGR of 6.2% from 2019 to 2026.

Region wise, North America accounted for about 57.9% theme park vacation market share in 2018, and is expected to grow at a CAGR of 4.6%.

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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.

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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 services to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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