Global Culinary Tourism Market 2019-2023 | 9% CAGR Projection Over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--Nov 18, 2019--
The culinary tourism market size is expected to post a CAGR of over 9% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global culinary tourism market 2019-2023. (Graphic: Business Wire)
The growing number of local culinary programs introduced at music and art festivals are one of the strongest factors supporting the popularity of culinary tourism. Such events enable food service providers and other culinary tourism suppliers to gain access to a large customer base. One of the most popular mediums for such interactions is food trucks, which offer customers a wide selection of local flavors. Many destinations worldwide have started collaborating with local businesses and celebrated native chefs to promote activities that focus on different types of culinary offerings. Thus, the increase in integrative culinary and cultural events will drive the culinary tourism market growth during the forecast period.
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As per Technavio, the growing popularity of sustainable and organic culinary tourism will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Culinary Tourism Market: Growing Popularity of Sustainable and Organic Culinary Tourism
Culinary tourists are interested in the origin of food, drinks, and local products. In addition, with organic culinary tourism being a niche market, especially among European culinary tourists, several culinary tour operators are enjoying a competitive advantage by offering organic food options to these tourists. For instance, Georgia, in the US, has introduced a popular niche market for organic wine tourism. Thus, with the growth in organic culinary tourism market in regions such as Europe and North America, sustainable and organic culinary tourism is expected to gain popularity during the forecast period.
“Other factors such as the increasing dependence on digital media, and growing focus on data harnessing for personalized guest experience will have a significant impact on the growth of the culinary tourism market value during the forecast period,” says a senior analyst at Technavio.
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Culinary Tourism Market: Segmentation Analysis
This market research report segments the culinary tourism market by type (domestic and international) and geography (APAC, Europe, MEA, North America, and South America).
The European region led the market in 2018, followed by North America, APAC, South America, and MEA respectively. The growth of the culinary tourism market share in Europe can be attributed to several factors such as the increase in the number of culinary tourists and the availability of cruising experiences for luxury travel seekers in the region.
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Five Forces Analysis
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PUB: 11/18/2019 02:30 AM/DISC: 11/18/2019 02:30 AM