According to the report published by Allied Market Research, the global theme park vacation market was pegged at $47.2 billion in 2018 and is anticipated to hit $74.7 billion by 2026, registering a CAGR of 6.0% from 2019 to 2026. The report provides a detailed analysis of the top investment pockets, top winning stratagems, drivers & opportunities, market size & estimations, competitive landscape, and fluctuating market trends.
Rapid shift in consumer behavior, innovation & development in technology, and rise in inclination of people toward going on vacations drive the growth of the global theme park vacation market. On the other hand, increase in the number of accidents and several government rule & regulations impede the growth to some extent.
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However, inclusion of new ideas and theme is expected to create multiple opportunities in the industry.
Based on type, the adventure park segment accounted for more than half of the total market revenue in 2019, and is expected to rule the roost by the end of 2026. The children’s park segment, on the other hand, would register the fastest CAGR of 7.9% throughout the forecast period. The water park segment is also studied in the market report.
Based on age group, the millennials segment contributed to nearly two-fifths of the total market share in 2019, and is anticipated to maintain the lion’s share during the study period. At the same time, the generation Z segment would cite the fastest CAGR of 7.8% from 2019 to 2026. The report also analyzes two more segments namely baby boomers and generation X.
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Based on region, North America held the highest share in 2019, garnering nearly three-fifths of the global market. Simultaneously, the Asia-Pacific region would showcase the fastest CAGR of 9.6% by 2026.
The other two provinces explored in the report include Europe and LAMEA.
The key market players analyzed in the global theme park vacation market report includeSeaworld Parks & Entertainment, Universal Parks and Resorts, ParquesReunidos, Merlin Entertainment Group, Oct Parks China, Fantawild, Chimelong Group, Six Flags Inc., Walt Disney Attraction, and Cedar Fair Entertainment Company.These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to corroborate their stand in the industry.