Adventure Travel Market Development of Travel and Tourism Sector

According to Precision Business Insights (PBI), the latest report adventure travel market is expected to be valued at US$ 68,730.8 million in 2022 and growing at a CAGR of 13.3% over the forecast period 2022-2028. Adventure travel is a form of tourism that involves exploration or travel with a perceived (and possibly real) risk and possibly requires specialized skills and physical effort. In recent decades, adventure tourism has developed as tourists pursue various types of vacations. According to the U.S. based Adventure Travel Trade Association, adventure travel may be any tourist activity, including two of the following three components: a physical activity, a cultural exchange or interaction and engagement with nature.

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Air-based Activity Accounted for Higher Revenue Share in Global Adventure Travel Market:
Based on activity, global adventure travel market is segmented into Land-based Activity, Water-based Activity, Air-based Activity. Air-based Activity is accounted for higher revenue. Air Based Adventure Tourism comprises, Hot Air Ballooning, Paragliding / Hand Gliding, Para Motoring, Parasailing, Ski Diving, Air Safaris, Kite Boarding. Paragliding is the recreational and competitive adventure sport of flying paragliders: lightweight, free-flying, foot-launched glider aircraft with no rigid primary structure. The pilot sits in a harness or lies supine in a cocoon-like 'speed bag' suspended below a fabric wing boosting the global market.

North America leads the Global Adventure Travel Market:
Based on regional analysis, global adventure travel market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America global adventure travel market contributed the largest share in 2021. "With National Parks, bustling metropolises, and quaint small towns connected by millions of miles of roads, North America offers something for everyone. If wanted to get off the beaten track to explore the vast natural landscape or enjoy the amazing nightlife and cuisine offered across the continent. With the help of market players significant growth of the market is observed.

The global adventure travel market is segmented based on travel type, activity, age group, sales channel, and region:
By Traveler Type
• Solo
• Friends/Group
• Couple
• Family

By Activity
• Land-based Activity
• Water-based Activity
• Air-based Activity

By Age Group
• Below 30 Years
• 30-41 Years
• 42-49 Years
• 50 Years & Above

By Sales Channel
• Travel Agent
• Direct
• Others

By Geography
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

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Key player's profiles in the global adventure travel market are: Austin Adventures, Inc., G Adventures Inc., Mountain Travel Sobek, TUI AG, ROW Adventures, REI Adventures, InnerAsia Travel Group Inc., Intrepid Group Limited, Butterfield & Robinson Management Services, Inc., Abercrombie & Kent Group of Companies S.A.

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This release was published on openPR.