Culinary Tourism Market to grow by USD 31.42 billion from 2020 to 2025 | Increase in Integrative Culinary & Cultural Events to Boost Market | 17000+ Technavio Reports

NEW YORK, March 23, 2022 /PRNewswire/ -- The "Culinary Tourism Market by Type (Domestic and International) and Geography (Europe, North America, APAC, South America, and MEA) - Forecast and Analysis 2021-2025" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.

The potential growth difference for the culinary tourism market between 2020 and 2025 is USD 31.42  billion. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.

Key Market Dynamics:

• Market Driver - The increase in integrative culinary and cultural events is one of the critical factors that will trigger the growth of the global culinary tourism market in the upcoming years. The growing number of local culinary programs introduced at music and arts festivals offers opportunities to foodservice providers and other culinary tourism suppliers to gain access to a potential customer base. Culinary tourism is gaining popularity among consumers. Destination management organizations (DMOs) are taking initiatives to leverage the growth of several art events and festivals to explore the role of food in them.
• Market Challenges - However, the such as eliteness quotient attached with luxury travels may impede the market growth. Luxury tourism, including culinary tourism, is considered to be an elite part of any lifestyle due to the high cost associated with it. This type of tourism is mostly enjoyed by the affluent sections of society. Most consumers in the developing and developed regions are reluctant to get involved in such types of activities, owing to the high cost involved. The elite nature of culinary tourism restricts the growth of the global culinary tourism market because many tourists, especially mass tourists, hesitate to spend too much on such trips. This, in turn, affects the global culinary tourism market growth during the forecast period. 

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Market Segmentation:

The culinary tourism market report is segmented by Type (Domestic and International) and Geography (Europe, North America, APAC, South America, and MEA). 

• 31% of the market's growth will originate from Europe during the forecast period. Germany, France, and the UK are the key markets for culinary tourism in Europe. Market growth in this region will be slower than the growth of the market in other regions. The increasing number of culinary tourist arrivals and the availability of cruising experiences for luxury travel seekers will facilitate the culinary tourism market growth in Europe over the forecast period.
• The domestic culinary tourism segment dominated the global culinary tourism market in 2020. It will continue its dominance throughout the forecast period as consumers are familiar with the domestic culinary tourism policies and rules and the financial tax imposed is lesser than that of international culinary tourism. The domestic market for culinary tourism is also driven by easy government regulations and a lack of currency exchange issues. The growth of the market segment is expected to be significant during the forecast period.

View our sample report for additional insights into the contribution of all the segments & regional opportunities in the report.

Some Companies Mentioned

The culinary tourism market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market vendors, including:   

• Abercrombie & Kent USA LLC
• Butterfield & Robinson Inc.
• Classic Journeys
• G Adventures
• Gourmet On Tour Ltd.
• Greaves Travel Ltd.
• International Culinary Tours
• ITC Travel Group Ltd.
• The Travel Corp.
• Topdeck Travel Ltd.
• To gain access to more vendor profiles with their key offerings available with Technavio, Click Here

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Key Topics Covered:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

• Five Forces Analysis
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Type

• Market segments
• Comparison by Type
• Domestic - Market size and forecast 2020-2025
• International - Market size and forecast 2020-2025
• Impact of COVID-19 on type segments of market and recovery from pandemic
• Market opportunity by Type

Customer landscape

• Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• Europe - Market size and forecast 2020-2025
• North America - Market size and forecast 2020-2025
• APAC - Market size and forecast 2020-2025
• South America - Market size and forecast 2020-2025
• MEA - Market size and forecast 2020-2025
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Abercrombie & Kent USA LLC
• Butterfield & Robinson Inc.
• Classic Journeys
• G Adventures
• Gourmet On Tour Ltd.
• Greaves Travel Ltd.
• International Culinary Tours
• ITC Travel Group Ltd.
• The Travel Corp.
• Topdeck Travel Ltd.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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