The market size of gourmet tourism will increase from $1.1 trillion in 2023 to $6.2 trillion in 10 years. Increase in tourism activities will drive market growth. Gourmet travelers from around the world are drawn to countries such as China, Japan, India, Thailand and Vietnam because of their outstanding, internationally recognized cuisine.
NEWARK, March 18, 2024 (Globe Newswire) — Brainy Insights estimates the US$1.1 trillion food tourism market will reach US$6.2 trillion by 2033. The market expansion can be attributed to the increasing consumer spending on travel and tourism, and the desire of tourists. A growing number of gourmet travelers sample foods made with locally sourced ingredients and travel around the world discovering new cultures through cuisine. The main factor driving the market expansion is the growing interest of consumers to try local cuisine in order to interact with people and learn more about the region, its past and culture. The World Travel Association (WTFA) 2022 report states that 34% of travelers travel to attractive destinations based on culinary preferences. Additionally, as stated in the 2023 study, travelers are exposed to different lifestyles through food culture, and this is important to understand in terms of socio-political knowledge. In January 2022, UNESCO added 27 customs related to eating and drinking to the Representative List of the Intangible Cultural Heritage of Humanity. For example, travelers come to Senegal for sev gin (a meal of rice, vegetables, and fish), Haiti for jumou soup (made with pumpkin), Italy for truffles, and Ukraine for borscht.
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Key insights on the Gourmet Tourism market
Asia Pacific region will account for the largest market size during the forecast period.
Gourmet tourism in Asia-Pacific is expected to develop significantly during the forecast period. The fusion of modern culture and historical and cultural heritage can be seen in many countries, including South Korea, Malaysia, Japan, Thailand, Vietnam, India, and others. Preserving the region's identity facilitates market expansion by allowing visitors to discover and embrace the region's unique cuisine, natural environment, and culture. For example, Thailand's major cities like Bangkok and Chiang Mai are filled with Michelin-rated restaurants, award-winning pubs, and cutting-edge cafes.
The food festival sector dominated the market with the most significant revenue of USD 0.3 trillion.
The food festival sector dominated the market with the most significant revenue of USD 0.3 trillion. The expansion of this market segment can be attributed to the growing interest of travelers in exotic foods and drinks. Additionally, making the most of their vacation, visitors can sample a variety of local flavors while visiting multiple cities in a short period of time. Therefore, this segment is perfect for travelers who want to see more culture in a condensed time.
The direct travel sector dominated the market with the most significant revenue of USD 0.46 trillion.
The direct travel sector dominated the market with the most significant revenue of USD 0.46 trillion. By offering travel packages directly through websites and booking engines, airlines can leverage their current resources to enhance their travel offerings and become more competitive.
Existential segment dominated the market with the most important revenue of USD 0.38 trillion
Existential segment dominated the market with the most significant revenue of USD 0.38 trillion. Activities such as cooking workshops, schools, fishing tours, wine tours, and food festivals attract tourists.
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Market dynamics:
Factor: Increased use of mobile phones
The increased use of mobile devices and expanded internet connectivity have improved communication for travelers, allowing them to share ideas and experiences both in person and on social media. This will encourage other foodies and adventurers to organize gourmet and adventurous events, helping to expand the market.
Restraints: Strict government regulations
Regulations governing the tourism sector may apply to gourmet tours and events. We are also further bound by health and safety legislation to ensure the quality and safety of the food we serve. Regulations in some countries aim to encourage environmentally friendly practices in food businesses, such as reducing waste, using locally produced food, and saving energy. This is expected to hinder market growth.
Opportunities: Initiatives taken by governments and associations to promote gastronomy tourism
Efforts by governments and associations to promote gastronomic tourism are another driving force driving the sector. For example, Destination Indigenous was introduced in his 2020 by the Indigenous Tourism Association of Canada (ITAC). This campaign promotes the best Indigenous travel experiences across Canada. One such effort is the ITAC Culinary Directory, which lists 27 food and beverage establishments and vineyards, 14 meeting spaces, breweries, and catering services. Giving guests a taste of the diverse cultures of Canada's Indigenous peoples is Destination Indigenous's main goal. Their main areas of interest include nature and wildlife tourism, cultural exchange, accommodation, leisure, food, and handicrafts.
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The major companies operating in the Gourmet Tourism market are:
● Greaves Travel Co., Ltd.
● Classic Journeys, LLC
● Travel agency
● Culinary Adventures International
●Butterfield & Robinson Co.
● Abercrombie & Kent USA, LLC
● Indian Gourmet Tour
● FTC4Lobe Group
● Gourmet food on tour
● Gourmet tour
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The main segments cover the following markets:
By activity:
● Cooking class
●Food festival
● The path of cooking
● Restaurant
●Others
By reservation mode:
● Direct travel
● Tour operator
● Online travel agency (OTA)
By tourist type:
●Diversion
● Experimental
● Recreation
● Existential
About the report:
The Global Gourmet Tourism Market is analyzed on the basis of value (trillion USD). All segments are analyzed on global, regional and country basis. The study includes analysis of more than 30 countries in each part. The report offers an in-depth analysis of drivers, opportunities, restraints, and challenges to gain key market insights. This research includes Porter's Five Forces Model, attractiveness analysis, raw materials analysis, demand and supply analysis, competitive position grid analysis, distribution, and marketing channel analysis.
About Brainy Insights:
The Brainy Insights is a market research company that aims to provide actionable insights to improve business acumen for companies through data analysis. We have robust predictive and estimation models to help our clients achieve their goals of achieving high-quality results in a short period of time. We offer both customized (client-specific) and syndicated reports. The repository of syndicated reports is diverse across all categories and subcategories across domains. Our customized solutions are tailored to meet our clients' requirements, whether they are looking to expand in global markets or planning to launch a new product.
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