Culinary Tourism Market Overview 2020, In-Depth Analysis with ,Opportunities, Revenue and Forecast 2027

Culinary tourism market

Culinary tourism is experiencing exponential growth worldwide as travelers prefer to visit previously undiscovered destinations

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATES, Sept. 23, 2022 /EINPresswire.com/ — Allied Market Research released a report, titled, “Culinary Tourism Market by Activity Type (Culinary Classes Culinary Trials , , Restaurants, Food Festivals and more), 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 collected USD 1,116.7 billion in 2019 and is estimated to reach USD 1,796.5 billion by 2027, registering a CAGR of 16.8% from 2020 to 2027.

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Drivers, Constraints and Opportunities-
The search for unique experiences to enhance the global tourism industry and the increase in the use of social media are driving the growth of the global culinary tourism market. However, increasing rate of terrorism and crime, political uncertainty and natural calamities hinder the growth of the market. On the other hand, unique destinations and choice for convenient and affordable accommodation are expected to offer new opportunities in the coming years.

Leading market players

Abercrombie & Kent USA
Classic trips
G Adventures
Greaves Travel
Food in India
ITC Travel Group Limited
The FTC4Lobe Group
The Travel Corporation
Topdeck Travel
Navigation radar.

Culinary tourism involves exploring or traveling to remote exotic areas and indulge in eating various dishes and local food items to get a feel for the location. It includes unique vacation experiences where travelers interact with local people and connect with their core values ​​through food. Culinary travel is a type of specialized tourism, which includes numerous activities such as culinary tastings, cooking classes, restaurants, food festivals and more.

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Culinary tourism is experiencing exponential growth worldwide as travelers prefer to visit previously undiscovered destinations. Furthermore, with the increase in government initiatives in the form of public-private partnership to promote tourism it has led to the growth of the tourism industry as a whole and ultimately benefited the culinary tourism industry. However, the involvement of high risk of crime against tourists, unpredictable weather conditions and natural disasters may hinder the growth of the culinary tourism market. Regardless of the challenges, the rise of the social media trend has created a huge opportunity in the food tourism market as Facebook has become the most preferred social network among travelers for sharing experiences.

Key findings of the study

The culinary tourism market was valued at USD 1,116.7 billion in 2019 and is expected to grow at a CAGR of 16.8% from 2020 to 2027 to reach a market size of USD 1,796.5 billion in 2027.

Based on activity type, the cooking classes segment will witness the fastest growing culinary tourism market, 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 almost half of the culinary tourism market.

In 2019, based on age group, the generation Y segment was the most important segment and is expected to grow at a significant CAGR throughout the forecast period.

The OTA segment was the dominant segment in 2019, holding a significant share of the culinary tourism market.

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Reason for purchase:
✅ Save and reduce time to conduct entry-level research by identifying the growth, size, top players and segments in the global culinary tourism market.
✅ It highlights key business priorities to guide companies to reform their business strategies and establish themselves in the broad geography.
✅ Key findings and recommendations highlight critical progressive industry trends in the Culinary Tourism market, thereby allowing players to develop effective long-term strategies to garner their revenue from the market.
✅ Develop/modify business expansion plans using significant growth offering developed and emerging markets.
✅ Deeply examine the trends and prospects of the global market along with the factors driving the market as well as those restraining the growth to some extent.
✅ Improve your decision-making process by understanding the strategies that underpin commercial interest across products, segmentation and industry sectors.

Source:- https://www.dailyreportsworld.com

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