Ecotourism Market to Generate $333.8 Billion by 2027, States the Report by Allied Market Research!

Research

A lead analyst at AMR highlighted that the ecotourism market in North America is anticipated to witness the fastest CAGR during the forecast period.

Allied Market Research published a research report on the ecotourism market . The findings of the report state that the global market for ecotourism generated $181.1 billion in 2019, and is projected to reach $333.8 billion by 2027, witnessing a CAGR of 14.3% from 2021 to 2027. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenarios for market players, investors, shareholders, and new entrants.

The report provides insights on drivers, restraints, and opportunities to help market players in devising growth strategies and capitalizing on opportunities. The growth of the ecotourism market is owed to factors such as a rise in travel and tourism to unique destinations, inclination toward exploration of wildlife, coral reefs, and pristine undisturbed natural areas, and increased focus on sustainability. On the other hand, low availability of accommodation and inadequate support infrastructure at ecotourism destinations hinder the market growth. However, public-private partnerships to subsidize air routes to remote tourist destinations, enhanced transport capabilities, and provision of ease of accessibility are expected to offer lucrative opportunities for the market in the future.

The report provides a detailed scenario of the impact of the Covid-19 pandemic on the ecotourism market globally. The outbreak of the pandemic led to the imposition of a lockdown and ban on travel and transportation, hindering the exploration of new and remote destinations. Many destinations and tourist spots were closed down by governments to prevent people from getting infected with the coronavirus. However, countries across the globe have been establishing more resilient tourism systems during the post-pandemic period. Governments have been implementing structural transformation and offering financial stimulus for supporting the tourism sector.

The report offers detailed segmentation of the global ecotourism market based on traveler type, age group, sales channel, and region. These insights are helpful for new as well as existing market players to capitalize on the fastest growing and largest revenue-generating segments to accomplish growth in the coming years.

In terms of traveler type, the group segment held nearly four-fifths of the global ecotourism market in 2019. The solo segment, however, would cite the highest CAGR of 15.9% from 2021 to 2027.

By age group, the generation Y segment was the largest in 2019, accounting for nearly three-fifths of the global market. However, the generation Z segment is estimated to manifest the highest CAGR of 15.6% during the forecast period.

By region, the market across Asia-Pacific held the largest share in 2019, capturing nearly two-fifths of the global market. However, North America is projected to register the?fastest CAGR?of 16.2% during the forecast period.

The ecotourism market share in the global travel and tourism market was 2.57% in 2021. The ecotourism market in India was valued at $2.24 billion in 2019 and is projected to reach $4.55 billion by 2027, registering a CAGR of 15.7%. It was predicted that India is one of the prime markets that are likely to look for eco-friendly accommodation post the COVID-19 pandemic.

Leading market players of the global ecotourism market analyzed in the report include Travel Leaders Group LLC, Aracari Travel, FROSCH International Travel Inc., Undiscovered Mountains Ltd, Adventure Alternative, Intrepid Group Limited, Rickshaw Travel Group, G Adventures, Steppes discovery, and Small World Journeys Pty Ltd.