Worldwide Culinary Tourism Industry to 2027 - Rise in Demand by Food Enthusiast Millennials is Driving the Market

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Jul 13, 2020, 07:45 ET

DUBLIN, July 13, 2020 /PRNewswire/ -- The "Global Culinary Tourism Market [By Region - North America (The US), Europe (The UK, France, Italy & Germany) & Asia Pacific (China, Japan & India)] Market Outlook 2027" report has been added to ResearchAndMarkets.com's offering.

The proliferation of food networks has made culinary tourism one of the hottest trend in travel. The world's leading destinations are already leveraging the power of food tourism. The industry is increasingly witnessing higher opportunities for foodservice and culinary tourism providers with an underlying rise in integrative culinary and cultural events across the world. There has been a substantial increase in collaborations between local businesses and celebrated native chefs at popular tourist destinations.

According to this new report, the global culinary tourism market is estimated to be valued at US$ 1.8 billion in the year 2027, growing at a CAGR of 16.5% in the period 2020 to 2027. Growth of the market is driven by rising demand by food enthusiast millennials, the surge in the number of travellers, the positive influence of digital media, increasing disposable income and food festivals and other promotions.

This report provides detailed analysis of the global culinary tourism market from qualitative and quantitative outlooks during the forecast period across various regional markets. It also provides coverage on market dynamics with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.

Key questions answered in the report

The historical market size of the culinary tourism market in value terms for the year 2019 in US$ Billions.
Projected market growth in the forecasted period 2020 to 2027 with estimated revenue for each year in US$ Billions.
Regional and country analysis of culinary tourism market is provided for the period 2019 to 2027.
Market drivers, restraints and industry trends that have an impact on revenue.
Profiling of major companies in the segment.

Culinary tourism, also known as gastronomic or food tourism refers to the exploration of food as the purpose of tourism. This exploratory eating encompasses a wide range of activities related to cooking, food sampling, food trends, winemaking and baking. The industry established linkages amongst the travel industry with agriculture, the food/beverage industry and more. Uptake of culinary tourism is seen as a result of increasing focus on defining cuisine as a true artistic expression of a country's culture.

Culinary tourism has garnered huge popularity in recent years. It has emerged as a vital component of the tourism experience. Growth of the market is attributed to the rise in demand by food enthusiast millennials, surge in the number of travellers, positive influence of digital media, increasing disposable income and food festivals and other promotions. Furthermore, the growing popularity of food truck is also expected to boost the market growth in the upcoming years. However, the market faces several challenges due to pandemic caused by COVID-19 outbreak, high cost associated with culinary tourism and safety issues in less explored areas.

Major industry players operating in the global culinary tourism market include Abercrombie & Kent, Classic Journeys, G Adventures, ITC Travel Group, T ELITE, The Travel Corporation, Topdeck Travel, Tour Radar, among others. These players are profiled herein based on attributes such as business overview, product segments and financial analysis. It also compiles the performance comparison of the aforementioned companies and other leading companies in the segment based on various parameters in the competitive landscape section. In totality, the report provides detailed market analysis, with relevant forecasted data supported by key market dynamics. This information will be helpful in evaluating opportunities in the global culinary tourism market.

Key Topics Covered:

1. Executive Summary

2. Research Methodology

3. Culinary Tourism
3.1 Overview
3.1.1 Market Evolution
3.1.2 Benefits
3.2 Types of Culinary Tourism
3.3 The Value Chain Analysis

4. Market Analysis
4.1 Market Sizing (Actual & Forecasted)
4.2 Market Share Analysis
4.2.1 By Category
4.2.2 Market Share by Tour
4.2.3 Market Share by Distribution Channel
4.2.5 By Mode of Booking
4.2.6 By Age Group
4.2.7 Market Share by Region

5. Regional Analysis
5.1 North America
5.1.1 Market Sizing (Actual & Forecasted)
5.1.2 The US
5.1.2.1 Market Sizing (Actual & Forecasted)
5.2 Europe
5.2.1 Market Sizing (Actual & Forecasted)
5.2.2 The UK
5.2.2.1 Market Sizing (Actual & Forecasted)
5.2.3 Germany
5.2.3.1 Market Sizing (Actual & Forecasted)
5.2.4 France
5.2.4.1 Market Sizing (Actual & Forecasted)
5.2.5 Italy
5.2.5.1 Market Sizing (Actual & Forecasted)
5.3 Asia Pacific
5.3.1 Market Sizing (Actual & Forecasted)
5.3.2 Japan
5.3.2.1 Market Sizing (Actual & Forecasted)
5.3.3 China
5.3.3.1 Market Sizing (Actual & Forecasted)
5.3.4 India
5.3.4.1 Market Sizing (Actual & Forecasted)

6. PESTLE Analysis
6.1 Socio Cultural Trends
6.2 Technological Trends
6.3 Economic Trends
6.4 Political Trends

7. Market Dynamics
7.1 Industry Trends & Developments
7.1.1 Focus on Integrative Culinary & Cultural Events
7.1.2 Rising Popularity of Organic Culinary Tourism
7.1.3 Culinary Classes in Tourists Itinerary
7.1.4 Attractiveness of Street Food & Markets
7.2 Growth Drivers
7.2.1 Rise in Demand by Food Enthusiast Millennials
7.2.2 Surge in Number of Travelers
7.2.3 Positive Influence of Digital Media
7.2.4 Increasing Disposable Income
7.2.5 Food Festivals & Other Promotions
7.3 Challenges
7.3.1 COVID-19 Outbreak
7.3.2 High Associated Cost
7.3.3 Safety Issues

8. Competitive Landscape

9. Company Profiles
9.1 Abercrombie & Kent
9.2 Classic Journeys
9.3 G Adventures
9.5 T ELITE
9.6 The Travel Corporation
9.7 Topdeck Travel
9.8 Tour Radar

For more information about this report visit https://www.researchandmarkets.com/r/9ol0f9

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