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Safari Tourism Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global safari tourism products market was valued at USD 57.8 billion in 2022 and is projected to expand at a CAGR of 8.4% from 2023 to 2030. Safari tourism products refer to the goods, services, and experiences associated with a safari tour. This includes safari clothing, equipment, and accessories, as well as air tickets, accommodation, and transportation. The demand for safari tourism products has been increasing in recent years, driven by the rising popularity of adventure tourism and an increase in disposable income.
The growing trend of ecotourism is expected to drive demand for safari tourism products. Ecotourism is defined as responsible travel to natural areas that conserves the environment, sustains the well-being of local people, and involves interpretation and education. The growing awareness of the need to conserve the environment and the increasing popularity of ecotourism are expected to drive the demand for safari tourism products.
Furthermore, the increasing trend of luxury safari tours is expected to drive the market growth. Luxury safari tours include exclusive game drives, private camps, and luxury hotels. The trend of luxury safari tours has been growing globally, with more and more travelers opting for luxury safari tours in countries such as South Africa, Botswana, Kenya, and Tanzania. This has driven the demand for high-end safari gear, such as luxury tents, sleeping bags, and safari clothing.
The increasing demand for digital travel products is another factor driving the market growth. Digital safari products include travel packages, online guidebooks, and travel apps. Travel apps are being increasingly used to search for safari tours and book hotels and flights. Furthermore, online guidebooks provide detailed information about the best safari destinations, as well as tips and advice on how to have a safe and enjoyable safari experience.
The rise in the number of adventure tourism operators is further expected to drive the market growth. Adventure tourism operators are responsible for organizing and providing the necessary equipment and services for a safe and enjoyable safari experience. These operators provide a range of products and services, such as guided safari tours, camping gear, safari clothing, and transportation. The increasing number of adventure tourism operators is expected to drive the demand for safari tourism products.
Product Insights
The safari tour packages segment accounted for the major share of the safari tourism products market in 2020. The increasing number of safari tourism activities, such as wildlife safaris, bird watching, and camping, has been driving the growth of this segment. According to the World Travel & Tourism Council (WTTC), in 2019, safaris accounted for an estimated 20% of the global tourism revenue. Furthermore, the increasing number of domestic and international tourists is driving the growth of the safari tour packages segment.
The safari equipment segment is expected to expand at a significant CAGR during the forecast period. The rising demand for safari equipment such as binoculars, cameras, tents, sleeping bags, and other safari gears is driving the growth of the safari equipment segment. According to an article published by the National Geographic, in February 2020, the sale of safari equipment has been rising significantly over the years. In addition, the increasing popularity of safari holidays and the rising demand for quality safari equipment are some of the key factors driving the market growth revenue.
Distribution Channel Insights
The travel agencies segment is expected to account for a major share of the global safari tourism market. The growth of this segment is driven by the increasing preference for safari tours by travelers, who prefer to book tours through a travel agency to make the entire process simpler and easier. In addition, the growing popularity of adventure holidays and safari holidays among travelers has also propelled the growth of the travel agencies segment.
The online segment is expected to register the highest CAGR during the forecast period. The growing penetration of the internet and the increasing number of online travel agencies is a major factor driving the growth of this segment. Furthermore, online platforms offer a wide range of safari packages from different travel agencies, enabling customers to compare and select the best package at an affordable price. Moreover, customers can also avail of attractive discounts and offers on online bookings, which is further driving the growth of the segment.
Type Insights
The luxury segment accounted for the largest revenue share of 40.9% in the year 2022. The increasing investment by luxury safari tour operators to provide an unparalleled experience for tourists is expected to drive the segment. For instance, in October 2021, Singita, a luxury safari tour operator, opened its new property, Singita Ebony Lodge, in South Africa. The property has 12 suites, a wine cellar, a spa, and a gym. These facilities stimulate the demand for luxury safari packages. Additionally, the rising disposable income of people in developing countries is contributing to the growth of the luxury segment.
The budget segment is anticipated to expand at the highest CAGR of 8.9% over the forecast period. The increasing number of budget travelers and the availability of low-cost safari tours are propelling the segment. For instance, in November 2021, Bushtracks Expeditions, a safari tour operator, launched a budget-friendly safari tour in South Africa. Additionally, the rising number of budget tourism agencies and the availability of pay-and-go products are likely to boost the segment.
Regional Insights
Africa accounted for the largest revenue share in the global market and is expected to remain the largest contributor over the forecast period. This can be attributed to the presence of numerous national parks, wildlife reserves, and game reserves in the region. In addition, African countries are increasingly concentrating on developing eco-tourism, which is further driving the growth of the market in the region. For instance, in August 2021, the South African government announced the launch of a new ecotourism project in the Kruger National Park.
Europe is expected to witness the second-fastest growth in the global market over the forecast period. This can be attributed to the presence of a large number of wildlife reserves and locations for safari tourism in the region. Rising disposable incomes and growing awareness about safari tourism among consumers are likely to drive the growth of the market in the region. For instance, in March 2021, a new safari park was launched in the North of England, UK.
Financial Projections
In this part of the safari tourism 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 safari tourism products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a safari tourism products business comes from tour packages, safari equipment rental, safari guide services, accommodation, and other related services. Here you will find a list with a description of each of them and other possible sources of profit such as safari-themed souvenirs, photography services, and transportation services.
Projecting Expenses
In this section, all the regular expenses related to keeping the safari tourism products business running will be described. The list of operating expenses includes wages, maintenance and repairs, utilities, insurance policies, advertising, and others. Additionally, the business must consider expenses related to safari equipment, safari vehicles, and other transportation costs. Furthermore, it is important to consider the cost of permits and licenses required to operate a safari business in the region.
Key companies & market share insights
Some of the key companies operating in the safari tourism 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 June 2022, African Bush Camps launched a new luxury camp, Jao Camp, in the Okavango Delta in Botswana.
– In August 2022, African Safari Group launched two new safari camps in Zambia, Chikoko Trails and Chikoko Tree Camp.
– In October 2022, African Bush Camps launched the Chikoko Trails mobile camp, offering an exclusive mobile safari experience in the Luangwa Valley.
Some of the prominent players in the safari tourism market include:
– African Bush Camps
– African Safari Group
– African Wildlife Safaris
– African Travel Inc.
– AndBeyond
– Bushtracks Africa
– Great Plains Conservation
– Kensington Tours
– Natural World Safaris
– Rhino Africa Safaris
Global Safari Tourism 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 safari tourism products market based on tourism type, destination, product type, and region:
1. Tourism Type Outlook (Revenue, USD Million, 2017 – 2030)
– Luxury Safari
– Budget Safari
– Adventure Safari
2. Destination Outlook (Revenue, USD Million, 2017 – 2030)
– African Safari
– Asian Safari
– European Safari
– South American Safari
3. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Accommodation
– Travel Services
– Activity Services
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
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 safari tourism products market based on tourism type, destination, product type, and region:
1. Tourism Type Outlook (Revenue, USD Million, 2017 – 2030)
– Luxury Safari
– Budget Safari
– Adventure Safari
2. Destination Outlook (Revenue, USD Million, 2017 – 2030)
– African Safari
– Asian Safari
– European Safari
– South American Safari
3. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Accommodation
– Travel Services
– Activity Services
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 key trends driving the safari tourism market?
[A]: The increase in demand for luxury safari experiences and the rise in disposable incomes of people around the world are the key trends driving the safari tourism market. In addition, factors such as the need for eco-friendly tourism and the growing popularity of adventure sports are expected to boost the safari tourism market.
[Q]: What are the key challenges faced by the safari tourism industry?
[A]: The key challenges faced by the safari tourism industry include the rising costs of travel, the lack of infrastructure in certain regions, and the lack of awareness about the industry among potential customers. In addition, the prevalence of poaching and the destruction of wildlife habitats have resulted in a decline in the number of animals available for viewing in certain areas.
[Q]: Who are the key players in the safari tourism market?
[A]: Major players in the safari tourism market include Abercrombie & Kent, African Travel, Inc., Thomson Safaris, and Intrepid Travel.
[Q]: What are the strategies adopted by the key players?
[A]: The key players in the safari tourism market are focusing on strategies such as partnerships with local tour operators, expansion into new regions, and innovative marketing campaigns. In addition, they are also focusing on providing customized safari experiences to customers and offering discounts and promotional offers.
[Q]: What is the potential of the safari tourism market?
[A]: The safari tourism market is expected to grow at a compound annual growth rate (CAGR) of 6.2% from 2020 to 2027, and is expected to reach a value of $79.4 billion (USD) by the end of the forecast period. The increasing demand for luxury safari experiences and the rise in disposable incomes of people around the world are expected to drive the growth of the market.
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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