LONDON--(BUSINESS WIRE)--The global culinary tourism market is expected to post a CAGR of over 9% during the period 2019-2023, according to the latest market research report by Technavio.
Increase in integrative culinary and cultural events introduced at music and arts festivals offer opportunities to food service providers and other culinary tourism suppliers to get access to the large customer bases. The introduction of food trucks is a critical factor that will boost market growth. These food trucks provide customers with a broad and trendy selection of local flavors. Destination management organizations (DMOs) are also taking note of the growth of different art and festival events, and the role of food in them. Many destinations worldwide have started collaborating with local businesses and celebrated native chefs to promote activities that focus on different types of culinary offerings.
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 global culinary tourism market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global culinary tourism market: Growing popularity of sustainable and organic culinary tourism
Currently, tourists are interested in the origin of food, drinks, and local products. Moreover, 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. 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.
“Countries such as the US, the UK, Germany, France, China, Australia, and Spain are witnessing an increasing number of travelers, both domestic and international. This is contributing immensely to the growth of the global culinary tourism market. Developing countries, such as Sri Lanka, India, and Mexico, are also upgrading their tourism infrastructure, which is expected to augment the market growth during the forecast period,” says a senior analyst at Technavio.
Global culinary tourism market: Segmentation analysis
This market research report segments the global culinary tourism market by type (domestic and international) and geographical regions (Europe, North America, APAC, South America, MEA).
The European region led the market in 2018, followed by North America, APAC, South America, and MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the growing economies of APAC countries. The increase in the number of travel operators, luxury service providers, and a rising number of exotic spots and destinations will also fuel market growth.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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