Culinary Tourism Market to Reach $1,796.5 Bn, Globally, by 2027 at 16.8%

Pursuit of unique experiences to augment the global tourism industry and rise in usage of social media drive the global culinary tourism market

Allied Market Research published a report, titled,Culinary Tourism Market by Activity Type (Culinary Trials, Cooking Classes, Restaurants, Food Festivals, and Others), Age Group (Baby Boomers, Generation X, Generation Y, and Generation Z) and Mode of Booking (OTA, Traditional Agents, and Direct Travel): Global Opportunity Analysis and Industry Forecast, 2020–2027.”According to the report, the global culinary tourism market garnered $1,116.7 billion in 2019, and is estimated to reach $1,796.5 billion by 2027, registering a CAGR of 16.8% from 2020 to 2027.

Drivers, restraints, and opportunities-

Pursuit of unique experiences to augment the global tourism industry and rise in usage of social media drive the growth of the global culinary tourism market. However, increase in terrorism & crime rate, political uncertainty, and natural calamities hinders the market growth. On the other hand, unique destinations and option for convenient and budget friendly accommodation are anticipated to offer new opportunities in the coming years.

Request Sample Report at: https://bit.ly/3izRaco

COVID-19 Scenario-

  • The operational disruption in both travel and food & beverages industry, due to COVID-19 outbreak, has impacted the culinary tourism market.
  • Halt in the services offered by the hospitality industry due to active lockdown and social distancing has adversely affected the growth of this industry.

The food festival segment to maintain its lead status-

Based on activity type, the food festival segment accounted for nearly one-third of the global culinary tourism market in 2019, and is expected to maintain its lead status in terms of revenue throughout the forecast period. This is due to growing affinity of tourists towards novel and rich food experiences. However, the cooking classes is estimated to portray the highest CAGR of 17.8% from 2020 to 2027. The rise in trend of learning through travel and increase in participation of chefs in culinary tourism to learn to cook food from different origins drives the growth of the segment.

The OTA segment to maintain its leadership position-

Based on mode of booking, the OTA segment contributed to the highest market share with nearly half of the global culinary tourism market in 2019, and is estimated to maintain its leadership position during the forecast period. Moreover, the same segment is estimated to generate the fastest CAGR of 17.9% from 2020 to 2027. This is attributed to growing adoption of smartphones as a way to make travel arrangements and availability of convenience and attractive offers.

Asia-Pacific is anticipated to dominate the market, North America to grow at a significant pace by 2027-

Based on region, Asia-Pacific accounted for the highest share based on revenue, holding for more than two-fifth of the global culinary tourism market in 2019, and is projected to maintain its dominant position throughout the forecast period. Moreover, the same region is estimated to generate the fastest CAGR of 17.8% from 2020 to 2027. This is attributed to the availability of a wide variety of traditional food and unique beverages which motivates culinary tourist to make travel arrangements in Asia-Pacific region. Furthermore, North America region is anticipated to manifest the CAGR of14.5% from 2020 to 2027.

For Purchase Enquiry at: https://bit.ly/3izJZ3S

  • Abercrombie & Kent USA
  • Classic Journeys
  • G Adventures
  • Greaves Travel
  • India Food Tour
  • ITC Travel Group Limited
  • The FTC4Lobe Group
  • The Travel Corporation
  • Topdeck Travel
  • Tour Radar.

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information:https://www.alliedmarketresearch.com/library-access

About Us

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 zaaand achieve sustainable growth in their respective market domain.

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.

Related Articles

Back to top button