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Enotourism Market 2024 Future Trends, Scope, Industry Analysis And Forecast To 2033
Enotourism Market Growth
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According to The Business Research Company's, The enotourism market size has grown rapidly in recent years. It will grow from $9.22 billion in 2023 to $10.58 billion in 2024 at a compound annual growth rate (CAGR) of 14.8%. The growth in the historic period can be attributed to cultural heritage, wine routes development, marketing and promotion, wine tourism events, rise of wine education.
The enotourism market size is expected to see rapid growth in the next few years. It will grow to $17.97 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%. The growth in the forecast period can be attributed to digital marketing and online presence, sustainable and eco-friendly practices, culinary tourism integration, experiential travel demand, wine education and workshops. Major trends in the forecast period include adventure and leisure integration, wine events and festivals, collaboration and networking, heritage and culture promotion.
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Market Drivers and Trends:
An increase in government initiatives to encourage tourism is expected to propel the growth of the enotourism market. Governments are focusing on cultural tourism, including wine tourism to promote the integrated high-quality development of wine tourism and accelerate the development of wine tourism destinations. For instance, in September 2021 the launch ceremony of the China (Ningxia) International Wine Culture and Tourism Festival, with the theme of Meet Ningxia Chuan - Taste Helen Mountain, took place in He Dong Wine Town, Shizuishan City, and Ningxia. The conference aims to provide the foremost important stage, the only booth, and thus the simplest platform for the exchange and cooperation of the wine culture and tourism sector reception and abroad. Therefore, an increase in government initiatives to encourage tourism is driving the growth of the enotourism market.
The exploration of new locations by providing accurate vineyard information in enotourism is a key trend gaining popularity in the enotourism market. For instance, according to MDPI, Wine Tourism-A Sustainable Management Tool for Rural Development and Vineyards article, in 2022, due to the COVID-19 pandemic, tourists are oriented to rural regions instead of urban ones for tourism.
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Major Key Players of the Market:
Moët & Chandon, Schloss Johannisberg, Viña Concha y Toro S.A., Yalumba Winery, Domaine Chandon, Mission Hill Family Estate, Cloudy Bay Vineyards, Robert Mondavi Winery, California Wine Tours, Joseph Phelps Vineyards, Opus One Winery, Great Oregon Wine Tour, Penfolds Winery, Marchesi Antinori Srl, Ridge Vineyards, Grgich Hills Estate, Catena Zapata, Iowa Wine Tours Inc., Weingut Dr. Loosen, Château Margaux, Discover Texas Wine Tours LLC, Quinta do Noval, Bulgaria Wine Tours, Arblaster and Clarke Wine Tours, Grape Escapes Wine Tours and Wine Tours, Cloud Climbers Jeep and Wine Tours, 290 Wine Shuttle, Domaine de la Romanée-Conti, Bodega Garzón, Vineyard Tours, Champagne Taittinger, Domaine Weinbach, Vasse Felix Winery, A Great Oregon Wine Tour, Grapevine Wine Tours
Enotourism Market 2024 Key Insights:
• The enotourism market size is expected to see rapid growth in the next few years. It will grow to $17.97 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%.
• Government-Led Tourism Initiatives Fueling Growth In The Enotourism Market
• Enotourism Trends Embrace Exploration Of New Locations With Accurate Vineyard Information
• North America was the largest region in the enotourism market in 2023
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