Ecotourism Market 2022 | Industry Outlook, Size, Share and Growth Analysis

According to Precision Business Insights (PBI), the latest report, ecotourism market size is expected to be valued at USD 192.4 billion in 2022 which is expected to grow at a CAGR of 15.7% over 2022-2028. The primary factors that drive the market are the increasing popularity of mesmerizing travel, outdoor entertaining activities, and solo traveling along with fast urbanization the accessibility of inexpensive flights, and the rising awareness about the hostile effect of tourism on the environment such as soil erosion, water pollution, and habitat loss has encouraged maintainable tourists and government to encourage ecotourism.

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Nature and Wildlife to Dominate the Ecotourism Market:
Based on product type, nature and wildlife hold the highest market share. The major factor for the rise of this segment is that nature and wildlife travelers are taking part in outings to bizarre and threatened areas aiming to raise awareness about nature and encourage preservation. Nature and wildlife tours also include many adventure events like treks in which swimming, rock climbing, hiking, caving, rafting, bird watching, sailing, etc. These factors can drive the global ecotourism market growth.

Europe Ecotourism Market:
Europe leads the global ecotourism market growth due to rising environmental concerns along with dissatisfaction around mass travelers and an increase in the demand for experiences based on nature. European governments and tourists have become attentive to sustainability such as water and air pollution, land and water utilization, plastic pollution, climate change, and the adverse effect of over-tourism on mass communities which have contributed to increasing the sales of ecotourism in this region. Apart from this, the major factor that drives the market in this region are increasing disposable income and growing millennials, and youth interest in ecotourism.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global ecotourism market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share. In May 2022, MSC Cruises launched sustainability-themed summer tours with nearly 1,400 tours, to feature its strong focus on sustainability. In March 2022, the first ecotourism village was launched in Kaghan Valley Islamabad to produce funds for ecological conservation and economic upliftment of the local community.

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The ecotourism market is segmented based on, product type, tour type, tourist type, consumer orientation, age group, and region.
Based on the product type, the market is segmented into the following:
• Nature & Wildlife
• Cultural
• Rural

Based on the tour type, the market is segmented into the following:
• Independent Traveler
• Tour Group
• Package Traveler

Based on the tourist type, the market is segmented into the following:
• Domestic
• International

Based on the consumer orientation type, the market is segmented into the following:
• Men
• Women
• Children

Based on the age group type, the market is segmented into the following:
• 15-25 Years
• 26-35 Years
• 36-45 Years
• 46-55 Years
• 56-65 Years
• 66-75 Years

Based on the region, the market is segmented into the following:
• Europe
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Key players' profiles in the ecotourism market report are Adventure Alternative Ltd, Arcari Travel, Frosch International Travel, Inc., G Adventures, Intrepid Group Limited, Rickshaw Travel Group, Small World Journeys Pty Ltd, Steppes Travel Ltd, Travel Leaders Group, LLC, and Undiscovered Mountains Ltd.

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