The culinary tourism market size is expected to grow at a CAGR of 16.8% from 2020 to 2027 to reach the market size of $1,796.5 billion in 2027.
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WILMINGTON, DELAWARE , UNITED STATES, September 3, 2024 /EINPresswire.com/ — Culinary tourism involves exploration or travel to remote exotic areas and indulge in consumption of various dishes and local food items to get a feel of the location. It includes unique experiences during the vacation, in which travelers interact with local populations and connect with their core values through food. Culinary travel is a kind of niche tourism, which includes numerous activities such as culinary trials, cooking classes, restaurants, food festival, and others.
The culinary tourism market size was valued at $1,116.7 billion in 2019 and is expected to grow at a CAGR of 16.8% from 2020 to 2027 to reach the market size of $1,796.5 billion in 2027.
The food festival segment was the highest contributor to the market, with $338.6 billion in 2019, and is estimated to reach $560.3 billion by 2027, at a CAGR of 17.2% during the forecast period.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 https://www.alliedmarketresearch.com/request-sample/A06326
Asia-Pacific was the most prominent region in the culinary tourism market and is expected to garner high growth rate during the forecast period. The North America culinary tourism market is also expected to witness steady growth rate throughout the forecast period owing to presence of a large number of traditional food outlets and easy availability of accommodation.
𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲
The culinary tourism market was valued at $1,116.7 billion in 2019 and is expected to grow at a CAGR of 16.8% from 2020 to 2027 to reach the market size of $1,796.5 billion in 2027.
Based on activity type, the cooking classes segment would witness the fastest culinary tourism market growth, registering a CAGR of 17.8% during the forecast period.
In 2019, based on activity type, the food festival segment held the highest share, accounting for nearly half of the culinary tourism market.
In 2019, based on the age group, the generation Y segment was the most prominent segment and is expected to grow at a significant CAGR throughout the forecast period.
OTA segment was the dominant segment in 2019, accounting for a considerable share in the culinary tourism market.
𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐅𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬
The report provides a quantitative analysis of the current culinary tourism market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
In-depth analysis and the market size and segmentation assists in determining the prevailing culinary tourism market opportunities.
The major countries in each region are mapped according to their revenue contribution to the market.
The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry.
𝐒𝐩𝐞𝐚𝐤 𝐭𝐨 𝐎𝐮𝐫 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 – https://www.alliedmarketresearch.com/connect-to-analyst/A06326
𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞
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.
𝐓𝐡𝐞 𝐟𝐨𝐨𝐝 𝐟𝐞𝐬𝐭𝐢𝐯𝐚𝐥𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐬𝐭𝐚𝐭𝐮𝐬-
Based on activity type, the food festivalsegment 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 togrowing affinity of tourists towards novel and rich food experiences.However, the cooking classes is estimated toportray 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.
𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐆𝐨𝐨𝐝𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲
𝐋𝐮𝐱𝐮𝐫𝐲 𝐖𝐚𝐭𝐜𝐡𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/luxury-watches-market-A06350
𝐓𝐨𝐨𝐭𝐡𝐩𝐚𝐬𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/toothpaste-market-A11278
David Correa
Allied Market Research
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