The Animal Theme Parks Market is forecast to expand at 5.9% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 85.6 million in 2023.
The animal theme park industry is poised for greater growth in the forecast period, as compared to the historical period, which accounted for a 2.7% CAGR. The shift in stats can be attributed to the surging number of people exhibiting interest in wildlife and conservation. These parks provide a distinct experience to visitors where they can notice animals up close, gain knowledge about their behaviors and habitats, and even interact with them.
The emergence of eco-tourism, which endorses responsible travel practices to support conservation efforts, is propelling market growth. In addition, the boom in social media has garnered heightened interest among viewers as visitors share their experiences online, thus creating a domino effect of interest.
The rapid growth of the tourism industry has also sparked interest in entertainment options like animal theme parks. Moreover, families with kids show a keen interest in visiting animal theme parks as they offer multiple attractions and activities apt for all age groups. With increasing discretionary incomes, more proportion of the population can afford to travel and indulge in leisure activities like going to animal theme parks.
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Top Highlights from the FMI’s Analysis of the Animal Theme Park Market:
- In 2022, the North American animal theme park industry acquired a 26% market share in the global market.
- The European region is projected to gain higher than 23% value share in 2023.
- The United States wins the maximum market share in comparison to the rest of the competing countries. In 2022, the country contributed 12% market share.
- The German market shared 6% value with the rest of the world.
- Japan’s animal theme park industry acquired a 5% market share in 2022.
- The Australian animal theme park industry captured a 5.5% value share in 2022.
- The United Kingdom animal theme park industry is projected to gallop at a CAGR of 8.1% over the forecast period.
- The Indian animal theme park industry is expected to expand at a CAGR of 7.2% over the estimated period.
- The China animal theme park industry is anticipated to assume a speed of 5.9% CAGR over the next ten years.
- Based on type, the ocean animal theme park segment is expected to gain more than 55.6% market share in 2023.
- Under the booking channel, the online booking segment is projected to attain more than 25% market share in 2023.
How are Key Players Drawing in a Pool of Visitors to the Animal Theme Parks?
The emergence of new parks and attractions has intensified the competitive scenario in the animal theme park industry. To attract more visitors to the park, these parks are implementing new and innovative approaches.
Well-established brands such as Universal Studios and Disney enjoy a large fanbase and solid brand recognition, thus attracting more visitors to their animal theme parks.
Key players are integrating the latest technologies like augmented reality, virtual reality, and interactive exhibits to make animal theme parks more immersive and arresting for visitors. Other attractions to these parks include themed and seasonal events, like Christmas and Halloween celebrations. By providing unique experiences, these parks can increase their footfall and generate more revenue.
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The Animal Theme Park Market Overview by Category
By Type:
- Ocean Animal Theme Parks
- Terrestrial Animal Theme Parks
By Application:
- Children
- Adult
By Revenue Model:
- Ticket
- Food & Beverage
- Merchandise
- Hotels/Resorts
- Others
By Booking Channel:
- Phone Booking
- Online Booking
- In Person Booking
By Tourist Type:
- Domestic
- International
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