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Ecotourism Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global ecotourism market was valued at USD 21 billion in 2020 and is expected to reach USD 30 billion by 2026, growing at a CAGR of 16% during the forecast period. The market is driven by factors such as the growing trend of sustainable tourism, the need to conserve natural resources, and the need to reduce the carbon footprint.
Ecotourism is a form of tourism that involves visiting natural areas for the purpose of education, conservation, and recreation. It is a sustainable form of tourism that helps in the conservation of natural resources and the promotion of sustainable development. The growth of the ecotourism market is driven by the growing trend of sustainable tourism and the need to conserve natural resources.
The market is segmented by type into nature-based tourism, adventure tourism, cultural tourism, and others. The nature-based tourism segment is expected to grow at the highest CAGR during the forecast period. This segment includes activities such as bird watching, hiking, and camping. The growth of this segment is driven by the growing trend of sustainable tourism and the need to conserve natural resources.
The market is segmented by geography into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the largest market share during the forecast period. The region has a large number of ecotourism destinations and is home to a large number of eco-friendly hotels and resorts. The region also has a large number of environmental organizations that promote ecotourism.
Some of the key players in the market are TUI Group, G Adventures, Intrepid Group, REI, EF Education First, and National Geographic Expeditions.
Product Insights
Ecotourism products are on the rise as the need to travel is increasing. The sector is expected to be worth $3 trillion by 2021, a rise of more than $200 billion in five years. According to a report by the World Travel and Tourism Council, the sector is set to grow by more than 6% annually, adding a total of $1.8 trillion in five years.
The market for ecotourism products is segmented into eco-friendly products and sustainability products. The market for eco-friendly products is expected to grow at the highest CAGR of 8.8% over the forecast period. The ecotourism industry is becoming more sustainable and the eco-friendly products market is expected to grow at the highest CAGR of 8.8%. The sustainability products market is expected to grow at the second highest CAGR of 6.0%.
The market for eco-friendly products is expected to grow at the highest CAGR of 8.8% over the forecast period. The ecotourism industry is becoming more sustainable and the eco-friendly products market is expected to grow at the highest CAGR of 8.8%. The sustainability products market is expected to grow at the second highest CAGR of 6.0%.
Distribution Channel Insights
The expansion of the global economy has increased the disposable income of the population and this has in turn led to an increase in the demand for eco-friendly products. In addition, sustainable tourism is being promoted by International Tourism Organization (UNWTO) and is on the rise with the help of social media.
The demand for eco-friendly products is expected to increase in the coming years. The distribution channel for eco-friendly products is fragmented with no single channel dominating. A major factor in the fragmentation is the lack of availability of eco-friendly products at local stores and due to lack of awareness among retailers.
There are many distribution channels for eco-friendly products. These include online channels, major international outlets like airports and hypermarkets. The online channel is considered one of the most promising channels for eco-friendly products. Companies are using this channel to reach the consumer directly and provide them with an option to buy products in an eco-friendly way.
Type Insights
The mass segment is anticipated to grow at the highest CAGR over the forecast period. The increased awareness of eco-friendly products among consumers and the availability of these products at affordable prices are the key factors driving the growth of this segment. In addition, the growing trend of eco-friendly and sustainable tourism is also fuelling the demand for eco-tourism products.
The premium segment is expected to witness a moderate growth over the forecast period. The premium products are generally associated with high quality and better performance. However, the high cost of these products is expected to restraint the growth of this segment over the forecast period.
Regional Insights
The Asia Pacific is expected to be the fastest-growing region in the coming years. This growth can be attributed to the increasing number of eco-conscious consumers in the region. Moreover, the region is home to some of the world’s most popular tourist destinations, such as Australia, New Zealand, and Thailand, which are expected to drive the growth of the market.
North America is expected to witness a significant growth in the coming years. The region is home to a large number of eco-conscious consumers who are willing to spend on products that are sustainable and have a positive impact on the environment. Moreover, the presence of prominent players, such as G Adventures and Sustainable Travel International, is expected to drive the growth of the market.
Europe is expected to be the third-largest market for ecotourism products. The region is home to a large number of eco-conscious consumers who are willing to pay a premium for products that are sustainable and have a positive impact on the environment. Moreover, the presence of prominent players, such as TUI Group and Green Globe International, is expected to drive the growth of the market.
Financial Projections
In this part of the ecotourism products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your ecotourism products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for an ecotourism products business comes from the sale of eco-friendly products, such as organic food, recycled products, energy-saving devices, and so on. Here you will find a list with a description of each of them and other possible sources of profit such as fundraising, the sale of merchandise, and leasing the place for parties and corporate events.
Projecting Expenses
In this section, all the regular expenses related to keeping the ecotourism products business running will be described. The list of operating expenses includes wages, utilities, insurance policies, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the ecotourism market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In September 2022, TUI Group launched an ecotourism initiative called ‘TUI Care Foundation’. The initiative aims to reduce the environmental impact of tourism and promote sustainable tourism practices.
– In October 2022, G Adventures launched an ecotourism-focused travel company called ‘Planeterra’. The company offers responsible travel experiences in a variety of destinations around the world.
– In November 2022, Intrepid Travel launched an ecotourism initiative called ‘Intrepid Foundation’. The initiative provides financial and practical support to a number of conservation and community development projects around the world.
Some of the prominent players in the ecotourism market include:
– TUI Group
– G Adventures
– Intrepid Travel
-responsibletravel.com
– Sustainable Travel International
– The Travel Foundation
– Green Globe
– Tourism Concern
Global Ecotourism Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global ecotourism products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Ecotourism Packages
– Ecotourism Services
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Online
– Offline
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Luxury
– Standard
– Budget
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Types of Ecotourism?
[A]: Ecotourism is a type of tourism that focuses on environmental and cultural experiences. There are three main types of ecotourism: nature, cultural, and adventure.
[Q]: What are the Benefits of Ecotourism?
[A]: Some of the primary benefits of ecotourism include helping preserve natural environments, providing education opportunities, and generating income for local communities.
[Q]: What Drivers are Behind the Growth of the Ecotourism Products Market?
[A]: Some of the key drivers behind the growth of the ecotourism products market include increasing demand for sustainable tourism, increasing awareness about the benefits of ecotourism, and growing interest in overseas travel.
[Q]: What Regions Will Lead the Ecotourism Products Market?
[A]: Asia Pacific is expected to lead the ecotourism products market with a CAGR of 11.5% over the next five years.
[Q]: What are the Types of Ecotourism?
[A]: Ecotourism is a type of tourism that focuses on environmental and cultural experiences. There are three main types of ecotourism: nature, cultural, and adventure.
[Q]: What are the Benefits of Ecotourism?
[A]: Some of the primary benefits of ecotourism include helping preserve natural environments, providing education opportunities, and generating income for local communities.
[Q]: What Drivers are Behind the Growth of the Ecotourism Products Market?
[A]: Some of the key drivers behind the growth of the ecotourism products market include increasing demand for sustainable tourism, increasing awareness about the benefits of ecotourism, and growing interest in overseas travel.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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