The Recreation Industry is Projected to Experience a 7% Annual Growth Rate from 2023 to 2032, By The Global Market Model From TBRC

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Aug 28, 2023, 11:45 ET

A Comprehensive Global Recreation Industry Overview: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

LONDON , Aug. 28, 2023 /PRNewswire/ -- The Global Market Model, the flagship product of The Business Research Company, is the world's most comprehensive database of integrated market information. The most recent forecast for the recreation industry, generated in June 2023, refines previous projections formulated in December 2022.

Prominent highlights extracted from the Global Market Model's recent forecast for the entertainment and recreation industry, assembled in June 2023, encompass:

The global recreation market attained a valuation of $1358 billion in 2022, representing 1.3% of the global GDP.
Foreseen is a compound annual growth rate (CAGR) of 7% for the recreation market from 2022 to 2032.
On a per capita basis, individual consumption within the recreation market equated to $173.7.
The segment of amusements emerged as the foremost category within the recreation market, capturing 34.4% of the aggregate share in 2022.
The United States led the charge within the recreation market, laying claim to 28.7% of the total share in 2022.
Key factors driving the trajectory of the recreation market encompass the legalization of gambling across several nations, a surge in touring and live performances, a pronounced shift in personal preferences towards well-being, and a surge in health and fitness concerns.

Gain more insights into the entertainment and recreation industry trends with a free consultation:

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The Global Market Model provides in-depth information on the following key macro indicators for the recreation industry -

Number of enterprises
Number of employees

Recreation Industry Forecast

The projection retains a substantial level of consistency compared to the earlier forecast set for the conclusion of 2022. The decline in consumer expenditure on recreational pursuits, stemming from elevated inflation rates, diminished disposable income, and the ongoing challenges posed by the cost of living, had all been previously factored into our forecast revision. As a result, our market predictions for this sector maintained their stability throughout this update phase.

Leverage the capabilities of the Global Market Model to gain access to vital insights within the recreation industry. Our team is dedicated to meeting your specific needs - https://www.thebusinessresearchcompany.com/global-market-model/demo-request

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The Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics for 7000 markets across 58 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.

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SOURCE The Business Research Company