Adventure Tourism

Adventure Tourism

The adventure tourism segment’s market is expanding steadily as the world gets more interested in activity-based and experience-seeking travel. It involves various activities like trekking, mountaineering, safaris, water sports, eco-tourism, and so on thus reaching out to the crowds as young as the millennial, Gen Z, and active aged population. Some of the critical drivers influencing this growth include increased disposable income, increasing trend of experience-seeking individualism, availability of better transportation and infrastructure, and increased sustainability consciousness. Tourist destinations are providing a variety of adventure specializations and are adopting technological advancements for more tourist satisfaction and improved health protocols.

The Adventure Tourism Market is expected to grow at a steady rate of around 15% owing to the rising company mergers and acquisitions. For instance, in June 2024, Yatra Online Limited acquired a 49% stake in Adventure and Nature Network Private Limited (ANN). Yatra Online Limited seeks to expand its footprint in adventure tourism by concentrating on specific segments. Other factors, including the expanding online websites and strategic partnerships between companies, drive the market's growth during the forecast period. Apart from this, improving the affordability and accessibility of adventure tourism is also driving this market steadily.

• Based on the type, the market is bifurcated into hard and soft. The soft segment dominated the market in the year 2023 driven by increasing demand for less physically demanding yet immersive and culturally enriching experiences. This segment encompasses families, older people, and travelers in search of some adventure but with less extreme conditions than the previous segment. Products that fall under soft adventure travel include wildlife safaris, culture and food tours, and wellness tours. Some of these encounters happen to involve aspects of the adventurous kind, where tourists are taken through specific or isolated places wherein, they are taken through certain rites of the community, or physically endowed facilities like comfortable accommodation for the physically challenged among them. The segment of soft adventure travel is growing steadily and is mostly driven by the desire to learn more about a destination and its culture, the opportunities for further development for destinations or tourism operators are vast.
• Based on activity, the market is segmented into land-based, water-based, and air-based. The air-based segment is expected to grow significantly in the forecast period. The air-based activity segment has been ranked to have expanded rapidly in adventure tourism due to the enhancement of technology, enhanced accessibility, and most importantly the quest for the new and different. Aerial adventures like skydives, paragliding, hot air balloon centers, scenic helicopter, and airplane tours, and rental and other winged tours form part of adventure tourism activities that have gained popularity in many places all over the world. For instance, in May 2024, Intrepid Travel, launched its adventure packages tailored for the north-eastern states and central India to provide a vibrant experience of the rich cultural heritage, wildlife, and scenic beauty of India. Thus, the air-based segment is expected to grow significantly in the forecast period among the activity.
• Based on the type of traveler, the market is segmented into solo, couple, family, and group. The group segment dominated the market in the year 2023. The group segment in the adventure tourism market has been growing at a good pace owing to several factors. One notable trend is the emerging desire by people to communicate their memorable experiences to friends, kindred spirits, or relatives. The social organization of adventure tourism improves the social facet of group travel and provides participants with safety and companionship especially when it comes to traveling to difficult terrains. The tour operators and adventure travel agencies have brought into existence specialized group packages to fit all the travelers who are interested in different activities that are inclusive of trekking and rafting, wildlife safari, and cultural tours among others. Thus, the group segment held a significant market share in 2023 among the types of travelers.
• For a better understanding of the market adoption of adventure tourism, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is expected to grow at a significant rate in the forecast period due to new scheme launches, rising company expansions with mergers & acquisitions, and changes in consumer preferences for adventure tourism. For instance, in August 2021, Active Adventures, a tour operator based in Queenstown, New Zealand, merged with U.S.-based Austin Adventures of Montana. Other factors, such as the improvement in affordability and accessibility of adventure tourism, have pushed the region's market growth. Thus, amongst areas, North America is expected to grow at a significant rate in the forecast period.
• Some of the major players operating in the market include Austin Adventures; Butterfield & Robinson; G Adventures; GEOGRAPHIC EXPEDITIONS, INC.; Intrepid Group Pty Limited; Mountain Travel Sobek; Discovery Nomads; ROW Adventures; TUI AG; Cox & Kings.