The theme park tourism market is anticipated to flourish at a steady CAGR of 12.50% between 2023 and 2033. The market is expected to hold a market share of USD 179.18 billion by 2033 while the market is likely to reach a value of USD 55.17 billion in 2023.
Popular Culture is the Catalyst for Boosting the Theme Park Tourism Market.
The rise of popular culture across the globe has been a significant factor in the increasing growth and revenue of the theme park tourism market. Multi-movie franchises, cinematic universes, globally popular shows, and animation series have been the biggest themes in such theme parks across the world, attracting millions of visitors every year.
The merchandise segment also benefits strongly from the pop culture factor, where consumers are ready to spend a significant amount for related toys, clothing, accessories, etc. This has made the theme park firms focus on collaborations with pop franchises and content owners to gain the maximum consumer attention.
Technological Advancements are Driving the Market Forward.
The theme parks are constantly renewing themselves and implementing new attractions and activities to keep their offerings refreshed. Additionally, there have been significant capital investments by the firms to keep the rides and other activities up to date. Further, the usage of new technologies, techniques, and improved safety methods has been implemented.
High-tech Animatronics, Hydraulics, and Pneumatics have helped in making the attractions fun, and thrilling while increasing the level of safety. These technological advancements are expected to help the market grow at a good pace, while also helping the firms keep themselves.
Heavy Fixed Capital Investments and Time-Consuming Installations Act as Entry Barriers.
The factors like high upfront investment costs are working as an entry barrier for new players to enter the market although the industry is anticipated to expand at a high rate. This along with the long time-consuming processes like construction, installation, and permit approvals are not working in the favor of the market; licensing of intellectual properties is also a main cost that the players have to incur. All these factors make the entry into market highly difficult, but overcoming these barriers does guarantee a substantial stream of revenue.
| Attribute | Details |
|---|---|
| Theme Park Tourism Market CAGR (2023 to 2033) | 12.50% |
| Theme Park Tourism Market Size (2023) | USD 55.17 billion |
| Theme Park Tourism Market Size (2033) | USD 179.18 billion |
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The theme park tourism market is anticipated to expand at a tremendous rate during the forecast period. This is due to multiple different factors that have arisen on both domestic and international levels. Further, the emergence of demand for different pop culture themes has been one of the key factors.
The diversified revenue streams within the theme parks make them highly stable. Increasing demand for short excursions has also made theme parks popular and thriving. Moreover, firms have been innovating their offerings and providing consumers with new experiences. All these trends simply point toward a high growth period for the market. Thus, the overall market outlook for theme park tourism looks positive during the forecast duration.
Theme Park Tourism Market:
| Attributes | Theme Park Tourism Market |
|---|---|
| CAGR (2023 to 2033) | 12.50% |
| Market Value (2033) | USD 179.18 billion |
| Growth Factor | The increasing stress levels, popular culture penetration, online ticket availability, and discounted prices are garnering market growth. |
| Market Opportunities | High demand for adventurous rides, famous themes of video games and movies along with the increase in per capita income is likely to flourish new opportunities for the market. |
| Growth Trends | The integration of advanced technology, augmented reality, artificial reality, and machine learning are enriching the end-user experience with the themed parks |
Amusement Theme Park Market:
| Attributes | Amusement Theme Park Market |
|---|---|
| CAGR (2023 to 2033) | 5.1% |
| Market Value (2033) | USD 95.66 million |
| Growth Factor | New companies entering the market space, improved lifestyles, emerging Asian economies, and the amalgamation of dry and water rides have garnered market growth. |
| Market Opportunities | Reopening of amusement parks post-pandemic, increased stress, and special online booking rates and discounts are helping the market gain new opportunities. |
| Growth Trends | The special mobile app services along with the integration of VR and AR technologies are projected to shape new trends in the market. |
Amusement Parks Market:
| Attributes | Amusement Parks Market |
|---|---|
| CAGR (2023 to 2033) | 5.7% |
| Market Value (2033) | USD 104.41 billion |
| Growth Factor | Better hospitality, live shows, various rides for people of all age groups, and the presence of hotels and resorts inside the park are likely to propel market growth. |
| Market Opportunities | New players in the market, increased per capita income, the prevalence of popular theme culture along with the integration of water, amusement, and theme parks. |
| Growth Trends | High capacity, discounted rates, and application-based advertisements are anticipated to shape new growth trends. |
Principal Consultant
| Countries | Revenue Share % (2023) |
|---|---|
| The United States | 24.60% |
| Germany | 6/80% |
| Japan | 5.60% |
| Australia | 3.10% |
| North America | 30.40% |
| Countries | CAGR % (2023 to 2033) |
|---|---|
| China | 14.30% |
| India | 15.20% |
| The United Kingdom | 12.10% |
The Market Remains Highly Prosperous in the United States of America due to a variety of Positive Factors
The United States is home to the big theme parks across the globe. This has immensely helped in making the United States of America one of the key theme park tourism destinations. Theme parks like the ‘Magic Kingdom – Walt Disney Resort’ and ‘Universal Studio Theme Park’ are situated in the region, and are popular on a global scale.
Theme parks attract millions of international tourists to the United States, generating substantial revenue and help in boosting local economies. The United States market for theme park tourism held a market share of 24.60% in 2022 while North America held a market share of 30.40% in 2022.
High quality of Stay and a Wide Variety of Theme Parks Drive the Market in Singapore
‘Universal Studio Singapore’ is one of the big theme parks in the world. Also known as the ‘7 themes park’, it has more than 24 attractions and 7 different themes, garnering worldwide attention and demand. This park is the most prolific feature of the Singapore theme park tourism market.
Since Singapore has always been a key tourist destination, it helps the theme park tourism market, to get additionally benefited from the tourism that occurs in the country. Thus making Singapore a highly preferable location among theme park tourists.
The Young Consumer Base Boosts the Market in China
The rising young consumer base of China meant that it has a lot of potential consumers. This has meant that the theme park tourism market is notable in China. The Universal Studio theme park in China is usually fully occupied, with bookings happening a month in advance. Most of the demand for theme park tourism in China is domestic and fuelled by the rising popularity of global content in China. China flourishes at a CAGR of 14.30% between 2023 and 2033.
| Category | By Tour Type |
|---|---|
| Leading Segment | Package Traveler |
| Market Share% (2022) | 58.10% |
| Category | By Booking Channel Type |
|---|---|
| Leading Segment | Online Booking |
| Market Share% (2022) | 42.60% |
Ticket Sales are the Majority Revenue Source in the Theme Park Tourism Market
The theme park tourism market draws revenue in different forms, keeping it diversified and helping in increasing the revenue in different ways. The important source of revenue comes from the admission fees/tickets because that is the basic cost of the theme park tourism market.
The tickets are priced at a rate that keeps the entry accessible while recovering the operating costs for the firm. This helps the parks attract maximum visitors while keeping making a profit from the other revenue sources.
Online Booking Channel Remains the Consumer Choice in the Theme Park Tourism Market
The increasing connectivity of the internet around the globe has been a key factor in the rise of online booking channels. With many people gaining internet access and the ease of usage becoming better, there has been high adoption of online bookings.
The plethora of offerings, discounts, and all-inclusive packages that are offered online also help the cause of this booking channel. Currently, the online mode of bookings leads to the booking channel segmentation. The segment held a market share of 42.60% in 2022.
Packaged Traveling is the most Preferred Tour Type in the Market
With the increasing presence of online packages and changing consumer behaviors, the need for all-inclusive tour packages is rising significantly. Consumers now prefer to book their packages from a single provider and save the hassle of going through different agents.
The segment held a market share of 58.10% in 2022. Customized curated packages are also widely offered by firms, making them highly popular. This has led to packaged travelers being the main tour type category in the theme park tourism market.
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The firms are constantly updating their services, and the theme park operators are trying to update their attractions as quickly as possible. Further, the need to make the services hassle-free and increase the brand presence might work as a key to keeping a competitive edge in the market.
Recent Developments:
The projected revenue of the market by 2033 is USD 179.18 billion.
The market CAGR for 2033 is projected to be 12.50%.
The key players are Walt Disney Company, Merlin Entertainment, and Six Flags Entertainment Corporation.
The market is estimated to secure a valuation of USD 55.17 billion in 2023.
The United States remains prosperous with a CAGR of 24.60% in 2023.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Revenue Source 5.1. Tickets 5.2. Merchandise 5.3. Lodging 5.4. Food and Beverage 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Booking Channel 6.1. Phone Booking 6.2. Online Booking 6.3. In-Person Booking 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Tourist Type 7.1. Domestic 7.2. International 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Tour Type 8.1. Independent Traveler 8.2. Package Traveler 8.3. Tour Group 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Consumer Orientation 9.1. Men 9.2. Women 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Age Group 10.1. 15-25 Years 10.2. 26-35 Years 10.3. 36-45 Years 10.4. 46-55 Years 10.5. 66-75 Years 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 11.1. North America 11.2. Latin America 11.3. Western Europe 11.4. Eastern Europe 11.5. South Asia and Pacific 11.6. East Asia 11.7. Middle East and Africa 12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 18. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 19. Key Countries Market Analysis 20. Market Structure Analysis 21. Competition Analysis 21.1. The Walt Disney Company 21.2. Ardent Leisure Group Limited 21.3. Cedar Fair Entertainment Company 21.4. Changlong Group Co., Ltd. 21.5. Comcast Corporation, Fanta Wild Holdings, Inc. 21.6. Ilyas & Mustafa Galadari Group 21.7. Merlin Entertainments Group 21.8. Seaworld Parks & Entertainment, Inc. 21.9. Six Flags Entertainment Corporation 21.10. Blackpool Pleasure Beach 21.11. Yokohama Hakkeijima Sea Paradise 21.12. Lotte World 22. Assumptions & Acronyms Used 23. Research Methodology
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Theme Park Tourism Market
