NEWARK, NEWARK, UNITED STATES OF AMERICA, May 4, 2022 /EINPresswire.com/ — According to Future Market Insights (FMI), the culinary tourism market is expected to grow at a CAGR of ~16.6% during the forecast period of 2022 and 2032.
Travelers are rethinking the consequences of their consumption, and vegans, vegetarians, and flexitarians are gaining immense traction in food tourism.
Vegetarian and vegan tourists are searching on the internet and other sources for vegetarian and vegan-friendly options. They are willing to try new things and meet new people who are likeminded.
In addition to this, penetration of social media and promotion of unique food and beverage experiences is another factor propelling the demand in the culinary tourism market. Hence, Gen-Zs and baby boomers are rapidly becoming the most important target group. Increased attention to food programmes, both on TV and on online streaming services, is also fuelling the demand in the market.
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Key Takeaways from the Culinary Tourism Market Study
•Europe dominated the culinary tourism market and held the largest revenue share of in 2021.
•France, Germany and U.K. are expected to lead the culinary tourism market in Europe.
•In terms of booking channel, online travel agents segment is estimated to account for the highest value share in the culinary tourism market.
•In terms of activity type, food festival segment leads in terms of market share as food-festival events have become trend-setters in the culinary world.
•In terms of tourist type, domestic segment dominated the culinary tourism market in 2021, as travellers are more familiar with the rules, laws and tax policies pertaining in their region.
“Regions are embracing their culinary history and are incorporating gastronomy in their tourism offerings. Further, countries with rich culinary traditions are focusing on the development of culinary tourism and providing incentives for local businesses to invest in this tourism segment.” says an FMI analyst.
Who is winning?
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The players operating in the global culinary tourism industry have adopted various developmental strategies to expand their market share, exploit the culinary tourism market opportunities, and increase profitability in the market. Major players present in the culinary tourism market are Abercrombie & Kent USA, LLC, Classic Journeys, LLC, G Adventures, Greaves Travel Ltd, India Food Tour, ITC Travel Group Limited, The FTC4Lobe Group, Topdeck Travel [Flight Centre (Uk) Limited)], The Travel Corporation, Gourmeton Tour Culinary Adventures, International Culinary Tours, and Butterfield & Robinson Inc. among others.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the global culinary tourism publishers market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the Culinary tourism market based on the activity type (culinary trials, cooking classes, restaurants, food festivals, and others ), booking channel (online travel agents, traditional agents, direct bookings), tourists type (domestic and international), tour type (independent traveler, tour group and package travelers), consumer orientation (men and women), age group (15-25 years, 26-35 years, 36-45 years, 46-55 years and 66-75 years) across seven major regions.
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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This news story originally appeared at Travel News - on 9 May 2022