Culinary Tourism Market Projected Expansion to $1,796.5+ Billion Market Value by 2027 with a 17.2% CAGR During 2020-2027

In 2019, based on activity type, the food festival segment held the highest share, accounting for nearly half of the culinary tourism market.

WILMINGTON, DE, UNITED STATES, January 2, 2025 /EINPresswire.com/ -- Allied Market Research published a report titled Culinary Tourism Market by Activity Type (Culinary Trials, Cooking Classes, Restaurants, Food Festivals, and Others), Age Group (Baby Boomers, Generation X, Generation Y, and Generation Z) and Mode of Booking (OTA, Traditional Agents, and Direct Travel): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global culinary tourism market garnered $1,116.7 billion in 2019 and is estimated to reach $1,796.5 billion by 2027, registering a CAGR of 16.8% from 2020 to 2027.

Drivers, restraints, and opportunities

Pursuit of unique experiences to augment the global tourism industry and rise in usage of social media drive the growth of the global culinary tourism market. However, an increase in terrorism & crime rates, political uncertainty, and natural calamities hinder market growth. On the other hand, unique destinations and options for convenient and budget-friendly accommodation are anticipated to offer new opportunities in the coming years.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/6691

The food festivalsegment to maintain its lead status:

Based on activity type, the food festivalsegment accounted for nearly one-third of the global culinary tourism market in 2019, and is expected to maintain its lead status in terms of revenue throughout the forecast period. This is due togrowing affinity of tourists towards novel and rich food experiences.However, the cooking classes is estimated toportray the highest CAGR of 17.8% from 2020 to 2027. The rise in trend of learning through travel and increase in participation of chefs in culinary tourism to learn to cook food from different origins drives the growth of the segment.

The OTAsegment to maintain its leadership position:

Based on mode of booking, the OTA segment contributed to the highest market share with nearly half of the global culinary tourism market in 2019, and is estimated to maintain its leadership position during the forecast period. Moreover, the same segment is estimated to generate the fastest CAGR of 17.9% from 2020 to 2027. This is attributed togrowing adoption of smartphones as a way to make travel arrangements andavailability of convenience and attractive offers.

Asia-Pacific is anticipated to dominate the market, and North America is to grow at a significant pace by 2027-

Based on region, Asia-Pacific accounted for the highest share based on revenue, holding for more than two-fifth of the global culinary tourism market in 2019, and is projected to maintain its dominant position throughout the forecast period.Moreover, the same region is estimated to generate the fastest CAGR of 17.8% from 2020 to 2027. This is attributed to the availability of a wide variety of traditional food and unique beverages which motivates culinary tourists to make travel arrangements in the Asia-Pacific region. Furthermore, the North American region is anticipated to manifest the CAGR of14.5% from 2020 to 2027.

𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐚𝐭: https://www.alliedmarketresearch.com/purchase-enquiry/6691

Leading market players
Abercrombie & Kent USA
Classic Journeys
G Adventures
Greaves Travel
India Food Tour
ITC Travel Group Limited
The FTC4Lobe Group
The Travel Corporation
Topdeck Travel
Tour Radar.

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David Correa
Allied Market Research
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