Culinary Tourism Market to Hit US$4,530.9 Billion by 2032 – Comprehensive IMF Research Report
NEWARK, NEWARK, UNITED STATES OF AMERICA, May 4, 2022 /EINPresswire.com/ — According to Future Market Insights (IMF), the culinary tourism market is expected to grow at a CAGR of around 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 popularity in food tourism.
Vegetarian and vegan tourists search the internet and other sources for vegetarian and vegan options. They are ready to try new things and meet new like-minded people.
In addition to this, social media penetration and promotion of unique dining experiences is another factor propelling the demand in the culinary tourism market. Therefore, Gen Z and Baby Boomers are quickly becoming the most important target group. Increased attention to food programs, both on television and online streaming services, is also fueling the demand in the market.
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Key Insights from Culinary Tourism Market Research
• Europe dominated the culinary tourism market and held the largest revenue share in 2021.
•France, Germany and the UK are expected to dominate the culinary tourism market in Europe.
• In terms of booking channel, the online travel agent segment is estimated to have the highest value share in the culinary tourism market.
•In terms of type of activity, the food festival segment leads in terms of market share, as food festivals have become trendsetters in the culinary world.
• In terms of type of tourists, the domestic segment dominated the culinary tourism market in 2021 as travelers are more familiar with the rules, laws, and tax policies of their region.
“The regions are appropriating their culinary history and integrating gastronomy into their tourist offers. In addition, countries with rich culinary traditions are focusing on the development of culinary tourism and attracting local businesses to invest in this segment of tourism. says an IMF analyst.
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The players operating in the global culinary tourism industry have adopted various development strategies to increase their market share, exploit the opportunities of the culinary tourism market and increase the profitability of 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, showcasing historical demand data (2017-2021) and forecast statistics for the period 2022-2032. The study discloses compelling insights into the Culinary Tourism Market based on the type of activity (cooking trials, cooking classes, restaurants, food festivals and others), booking channel (online travel agents, traditional agents, direct bookings), type of tourists (domestic and international), type of travel (independent traveler, group travel and package travellers), consumer orientation (male and female), age group (15-25 years old, 26-35 years, 36-45 years, 46-55 years and 66-75 years) in seven major regions.
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About Future Market Insights (IMF)
Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive 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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