Collapsible Sleeve Containers Market is expected to be worth US$ 4.7 Bn by 2027

The collapsible sleeve containers market is projected to record 6.4% growth from 2025 to 2026. End-users such as automotive, agriculture & ancillary industries, textile & handicraft, and others are asking for new customized collapsible sleeve containers for experiencing quality results.

Collapsible sleeve containers are largely taking over bulk containers due to their high-end features like being lightweight, easy-to-fold, and resistance against extreme weather conditions. Leading collapsible sleeve containers manufacturers are also taking the “eco-friendliness” factor seriously.The global collapsible sleeve containers market is poised to be worth US$ 7.2 Bn by the year 2030 at a CAGR of 4.6% between 2020 and 2030.

Key Takeaways

  • The size of the collapsible sleeve containers market was US$ 4.6 billion, with food and agriculture logistics applications being major driving factors for the market.
  • Food and beverage packaging applications will remain the primary source of revenue, driven by improvements to raw materials and associated barrier characteristics.
  • Block pallets will account for higher demand, supported by weight and cost benefits in operations, which can be attributed for over 70% of the market share.
  • East Asia is the leading regional market for collapsible sleeve containers, supported by the higher uptake of rigid packaging in the niches of building and textile sectors.

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“Collapsible sleeve container manufacturers are likely to gain from rising disposable incomes of middle-class consumer populations who have become open to novel packaging solutions. Sleeve containers are also being increasingly made from recyclable materials which will aid in reducing the carbon footprint in the industry, thereby driving growth in the market,” said an FMI analyst.

Covid-19 Impact Analysis

The coronavirus pandemic has had a moderately impact on the global collapsible sleeve containers market. Restrictions on production facilities due to lockdown regulations and disrupted supply chains for raw materials have hurt short-term growth prospects.

Manufacturers are likely to leverage the demand for essential commodities including food & beverage and pharmaceutical products to generate lucrative opportunities in the adoption of collapsible packaging formats.

Also, the expansion of the ecommerce sector during the crisis period and purchases of drugs and food through these channels are likely to result in growth opportunities, partially mitigating losses during the pandemic.

Competitive Landscape

Key players in the collapsible sleeve containers market include but are not limited to

  • DS Smith plc,
  • Schoeller Allibert Services B.V.,
  • Corn-Pearl North America Inc.,
  • Rehrig Pacific Company Inc.,
  • TranPak Inc.,
  • RPP Containers,
  • Sohner Plastics LLC,
  • Schuert Tectnologies LLC,
  • CABKA Group, Buckhorn Inc.,
  • Reusable Transport Packaging Inc.,
  • Prairie Plastics Holdings LLC,
  • Ribawood S.A.,
  • Qingdao CNplast Co. Ltd., and
  • Enlightening Pallet Industry Co. Ltd.

Manufacturers are increasingly relying on product development and launch strategies to incorporate new, sustainable materials in addition to geographical expansion endeavors to offer improved solutions and to bolster consumer base in fragmented market landscapes.

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Key Segments Covered in Collapsible Sleeve Containers Industry Research

Collapsible Sleeve Containers Market by Box Type

  • 48x40x30”
  • 48x40x34”
  • 48x40x45”

Collapsible Sleeve Containers Market by Pallet Type

  • Block Pallet
  • Stringer Pallet
  • Customized Pallet

Collapsible Sleeve Containers Market by End-use

  • Agriculture & Allied Industries
  • Building & Construction
  • Chemical & Pharmaceuticals
  • Food & Beverages
  • Engineering Products
  • Textile & Handicrafts
  • Automotive
  • Others

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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Tape Dispenser Market is expected to be worth US$ 5.2 Bn by the year 2022

The market for tape dispensers might be described as developing, growing at a CAGR of 4.4% from 2022 to 2030 to reach US$ 7.3 billion. In 2030, the market for tape dispensers is anticipated to expand by 5.3% year over year. The development of technologically advanced tape dispensers and the desire for them over traditional tape dispensers for packaging solutions globally are expected to have a significant impact on the expansion of the tape dispenser market.

Demand Analysis for Tape Dispensers (2015-2021) Compared to Market Prospects (2022 to 2030)

The market for tape dispensers is anticipated to grow at a CAGR of 4.4% from 2022 to 2030, driven by rising end-user demand for secured packaging and sealing. Offices, businesses, and industries are paying increasing attention to tape dispensers. However, there is a noticeable rise in the popularity of handheld tape dispensers in commercials and offices.

Therefore, this segment is expected to hold more than 57% value share in the global market in the next decade. Automatic tape dispenser segment is expected to expand at a CAGR of 4.3% by 2030, attributing to ease of use and fast-paced packaging operations.

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Besides, end-users have maximum preference for such dispensers to minimize wastage caused due to human errors. Table top tape dispensers are most commonly used as compared to the other product types in the tape dispenser market. Two fold investments by the key players in research & development activities for developing convenient and tailor-made solutions of tape dispensing system are expected to leverage growth of tape dispensers during the forecast period.

How has COVID-19 impacted the Tape Dispenser Market?

COVID-19 is calling for protective and hygienic packaging solutions. To ensure maximum product safety, end-users are opting for automatic tape dispensers, so that minimum human and product contact could be maintained during packaging activities amid COVID-19. Therefore, the global tapes dispenser market is expected to clock a CAGR of nearly 4% during next ten years, amid COVID-19.

On the flip side, frequent lockdowns and scarcity of raw material reduced the profit margins of the key players in 2020-21. Besides, less-efficient transport facilities reduced further gain in the international tape dispenser market. Therefore, the market growth witnessed a negative growth of 0.2% in 2020-2021. However, with the strategic planning of the manufacturers in collaboration with government authorities, this market is expected to register peak y-o-y of 5.3% in the next ten years.

Competitive Landscape

The Tape Dispenser market holds the distinction of being driven by tier-3 players. They hold more than 75% of the market share. Everything, right from product launches, acquisitions, and collaborations is being tried out. AI is also being tried out.

3M Company does market Scotch and Tartan Manual Tape Dispensers. These hand-held dispensers come in HR933, H150, and HR80 versions. The advantages offered by these devices are being lightweight and proper pistol-grip, along with retractable blades and pressure bars for reducing noise.
Intertape Polymer Group Inc. has its Smart Tape solution that adopts the latest security technologies for preventing cargo theft, and product diversion and proliferation.

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Key Companies Profiled

  • 3M Company
  • Tesa SE
  • Intertape Polymer Group Inc.
  • Fellow Brands
  • Shurtape Technologies LLC
  • Koziol USA
  • START International
  • Prisma Pressure Sensitive Products Ltd.
  • Spec-Tech (Xiamen) Co. Ltd.
  • Aroindia Electromech Pvt. Ltd.
  • Excel Factory Inc.

Key Segments Covered in Tape Dispenser Industry Research

Tape Dispenser Market by Product Type

  • Hand Held
  • Table Top
  • Definite Length Dispenser
  • Stretchable Tape Dispenser

Tape Dispenser Market by Technology

  • Automatic
  • Manual

Tape Dispenser Market by End-use

  • Office & Commercial
  • Industrial

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Market Analysis

1.3. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage

2.2. Market Definition

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Product Innovation Trends

4. Key Success Factors

4.1. Product Adoption Analysis

4.2. Product USPs / Features

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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Global Precision Stainless Steel Market is expected to be worth US$ 2.4 Bn

The global precision stainless steel market is looking forward towards growing on a steady note between 2022 and 2029, reaching US$ 3.2 Bn by the year 2029 at a CAGR of 3.4% from 2022 to 2029.The precision stainless steel market is likely to record 4.5% growth by the year 2025. Prominent verticals such as automotive, aerospace, building & construction, transportation, electronics and others are significantly dependent upon precision stainless steel to manufacture industrial components.

Due to its numerous applications and durable mechanical features, the demand for precise stainless steel solutions in the industrial industries has increased dramatically over the last couple of years.

The precise requirements of manufacturers are being met by a variety of precision stainless steel formats, including precision stainless steel coils, sheets, and foils. Precision stainless steel producers would have several opportunities to strengthen their market positions and broaden their commercial operations in the coming years.

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Precision Stainless Steel Market – Key Highlights

  • Precision stainless steels market is anticipated to expand at a CAGR of 2.9% through 2029.
  • Backed by expanding construction and automotive industry, East Asia will present lucrative opportunities through 2029.
  • 0.1 mm steel segment is poised to remain the most preferred thickness type.
  • Automotive segment will gain significant attention through the assessment period.

Precision Stainless Steel Market – Driving Factors

  • Precision stainless steel tools find applications in foil market as well as electronic industries.
  • Global revenue will increase as applications extend to automotive sectors for manufacturing advanced high strength steel.
  • Demand for precision stainless steel tools in aerospace, construction and food & beverage have collectively created substantial opportunities for the players.

Precision Stainless Steel Market – Key Restraints

  • Inconsistent and high price of raw materials poses a major threat to the market.
  • Disruptions in supply chains due to the pandemic outbreak remains a key impediment.

Competitive Landscape

Global precision stainless steel market is fragmented in nature, and top players account for 40-45% of the global production. Key players operating in the market are focusing on expanding their reach globally, diversifying their product portfolio, upgrading their supplier and distributor networks and making rapid product development to a gain competitive edge.

  • Hitachi Metals, in July 2019, confirmed about increasing their manufacturing capacity in Thailand and Vietnam alongside Furukawa Electric.

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Key Companies Profiled

  • Baoshan Iron & Steel Co., Ltd
  • AK Steel Corporation
  • Acerinox
  • Jindal Stainless Group
  • Outokumpu Oyj
  • Nippon Steel
  • ArcelorMittal SA
  • Hitachi Metals Neomaterial, Ltd
  • Aperam
  • NIPPON KINZOKU Co., Ltd

Key Segments Covered in Precision Stainless Steel Material Type

Material Type :

  • Below 0.1 mm
  • 0.1 mm to 0.4 mm

End-user :

  • Food Industry
  • Automotive
  • Pharmacy
  • Construction
  • Industrial
  • Aerospace

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage

2.2. Market Definition

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Product Innovation Trends

4. Precision Stainless Steel Market Demand Analysis 2014–2021 and Forecast, 2022–2029

4.1. Historical Market Precision Volume (tonnes) Analysis, 2014–2021

4.2. Current and Future Market Precision Volume (tonnes) Projections, 2022–2029

4.3. Y-o-Y Growth Trend Analysis

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse Latest Market reports: https://www.futuremarketinsights.com/reports

Hong Kong Tourism Market is Likely to Secure A CAGR of 10% Through 2032

The hong kong tourism market size is expected to reach US$ 41.5 Mn in 2032, likely to surge at a vigorous 10% CAGR during the forecast period of 2022 – 2032.

he tourism industry is a major contributor to the economy of Hong Kong. Since 2014, growth of tourists from China has decreased, due to which the Hong Kong tourism industry is facing a slowdown.

Also, competition is increasing from destinations such as Europe and Japan, which are frequented by Chinese tourists. However, the government in Hong Kong is taking measures to develop more tourist attractions, thus making Hong Kong one of the most popular tourist destinations.

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Hong Kong Tourism: Drivers and Restraints

Tourists from China constituted the largest group of visitors to the Hong Kong Special Administrative region. This is both a driver and a restraint to the Hong Kong tourism market. Chinese visitors come to the Hong Kong region in order to enjoy the duty free shopping and travel in a world class infrastructure and having not to face the language or other cultural shocks that they may face while travelling in a western country.

However, visitors from China to Hong Kong have been declining since a couple of years due to the recent unrest in the Hong Kong Special Administrative Region for self-rule and tensions with the Chinese population. This unrest has taken its toll on the tourist numbers from the China region.

However, the reputation of Hong Kong as an international financial centre and a preferred destination for regional conferences and conventions has the potential to rebound the negative fall back of the declining tourists from the China region.

Hong Kong Tourism: Spend Analysis

As per the figures released by the World Travel and Tourism Council, in the year 2014, the direct contribution of travel and tourism to the GDP of Hong Kong stood at HKD 204.6 Bn that comprised 9.1% of the total GDP of the region, and this is likely to show an increase by 3.5% per annum during the 10-year period of 2015-2025 and reach a figure of HKD 293.2 Bn – and this will comprise 9.5% of the total GDP of Hong Kong in the year 2025.

As per the same source, in the year 2014, visitor exports generated an amount of HKD 366.6 Bn that comprised 7.5% of the total exports of Hong Kong. Visitor exports are forecasted to increase by 3.6% per annum during the 10-year period of 2015-2025 and reach a figure of HKD 527.8 Bn in the year 2025 and this will comprise 6.6% of the total exports of Hong Kong.

As per the figures released by the Tourism Commission – The Government of Hong Kong Special Administrative Region in the year 2015, a total number of 59.3 million international tourists were received by Hong Kong that represented a decline of 2.5% over the figures of the year 2014.

In the year 2015, China continued to be the source of the largest foreign tourist market, with over 40 million arrivals that accounted for over 75% of the total foreign tourists’ arrival. This represented a decline of 3% over the corresponding figures of the year 2014.

The overnight visitor per capita spending in the year 2015 amounted to HKD 7234, which represented a decline of 9.1% from the corresponding visitor per capita spending in the year 2014. Average length of stay of overnight visitors was 3.3 nights in the year 2015, which remained the same for the year 2014 as well.

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Key Segments Profiled in the Hong Kong Tourism Market Survey

By Booking Channel:

  • Phone booking
  • Online booking
  • In person booking

By Consumer Orientation:

  • Men
  • Women
  • Children

By Age group:

  • 15-25 years
  • 26-35 years
  • 36-45 years
  • 46-55 years
  • 56-65 years
  • 66-75 years

By Tour type:

  • Independent traveller
  • Tour Group
  • Package Traveller

By Tourist Type:

  • Domestic
  • International

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Food Tourism Sector Market is projected to expand at a CAGR of 16.6% during the forecast period 2022-2032

The food tourism sector to reach a valuation of US$ 865.71 Bn in 2022. Sales are projected to increase at a 16.6% CAGR, with the market size reaching US$ 4,009.77 Bn by 2032.

The food tourism sector is expected to grow steadily over the forecast period. This is due to a variety of reasons including the rise of cultural integration trends across the globe.

The strong government support to promote this industry is also touted to help the market flourish, with the consumer base set to expand and the average spending per consumer also increasing. The desire of people to expand their tourism experience by bringing in the sensory part as well has helped the sector become mainstream.

The introduction of various activities related to food tourism has kept the market fresh and on a path of growth. The variety and a wide number of cuisines offered around the world keep the scope of the food tourism sector high on a global scale. Food festivals and cooking classes will keep the international tourists engaged. Developing countries and their food tourism markets are anticipated to profit from the growing market, with tourists desiring to taste the exquisite cuisines of these countries.

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Key Takeaways from the Food Tourism Sector Study:

  • The food tourism sector is expected to grow at a CAGR of 16.6% over the forecast period.
  • The Asia Pacific region holds ~31% of the global food tourism sector, while the Europe region holds ~32% of the total market share.
  • Food festivals are rapidly gaining popularity in the food tourism sector.
  • Cooking classes are being offered by the tour operators to provide the consumers with an in-depth experience of the culinary environment of their destinations.
  • According to the study, currently, the food tourism sector attracts close to 3 Mn visitors annually.
  • Online booking channels have become the prominent booking channels in the sector.

“With the market expected to grow at an exceptional rate while offering a lucrative opportunity, the possibilities of new firms entering the market is also expected” – FMI Analyst said.

Impact of COVID-19

The Covid-19 pandemic affected the global food tourism market severely. The increasing restrictions left the sector in a dilapidated state. The travel halts across the globe both on an international as well as a domestic level restricted tourism completely. This meant a stoppage of the food tourism sector as well.

The increasing concern for safety among the consumers also led to a decreased confidence among them over concerns about food items’ safety. This further impacted the market as well, leading the firms to rethink their strategies and come out surviving during this period.

Post-pandemic the firms came out with different schemes, measures, and operating procedures to ensure consumer satisfaction. These measures were majorly aimed at providing the consumers with absolute safety precautions, while still letting them enjoy their cuisines and tours.

This has helped the industry bounce back to the pre-pandemic level, also ensuring the image of the sector stays positive. The food tourism sector is expected to keep growing fast in the long-term perspective, not letting the setback of the pandemic slow down this growth.

Who is winning?

By strategizing and attempting to market the regional cuisines, the major players are attempting to boost their brand presence. The key to growing in the market will be to provide them with individualized, all-inclusive packages.

The key players in the food tourism sector are Abercrombie & Kent USA LLC, Classic Journeys LLC, G Adventures, Greaves Travel Ltd, India Food Tour, ITC Travel Group Limited, The FTC4Lobe Group, Topdeck Travel [Flight, Centre (Uk) Limited)], The Travel Corporation, Gourmeton Tour Culinary Adventures, International Culinary Tours, and Butterfield & Robinson Inc.

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The Food Tourism Sector by Category

By Activity Type:

  • Cooking Classes
  • Restaurants
  • Food Festivals
  • Street Food Tours
  • Tasting Sessions
  • Others

By Booking Channel:

  • Phone Booking
  • Online Booking
  • In Person Booking

By Tourist Type:

  • Domestic
  • International

By Tour Type:

  • Independent Traveler
  • Package Traveler
  • Tour Group

By Consumer Orientation:

  • Men
  • Women

By Age Group:

  • 15-25 Years
  • 26-35 Years
  • 36-45 Years
  • 46-55 Years
  • 66-75 Years

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Wildlife Tourism Market Size is Expected to Reach US$ 219.9 Billion by 2032

The wildlife tourism market size is projected  to reach US$ 219.9 Billion in 2032 and US$ 135 Billion in 2022 . Grow at robust 5% CAGR during 2022-2032.

Tigers are an important part of many wildlife sanctuaries, and Ranthambore wildlife sanctuary and Kanha National Park in India are among the few places where tourists can see these animals up close. Many visitors are visiting these sanctuaries simply to see tigers, which is boosting global wildlife tourism.

Wildlife Tourism: Positive and Negative Impact

During the visit to wildlife destinations, tourists contribute to the improvement and conservation of the conditions of wild animals. Wildlife tourism also improves the life of the local tribes, as when tourism flourishes, they get opportunities of improved livelihood. Continuous flow of tourists keep the poachers away from killing endangered species of animals. When tourists visit wildlife sanctuaries certain amount of entrance fee is charged from them.

This money is directed towards animal conservation programmes. However there are some negative impacts too. The disturbance is always high when tourists approach the wildlife very closely to take photos. Also, the breeding patterns of animals may also get disturbed due to constant pressure of tourists to take photographs of animals with their young ones.

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Wildlife Tourism: Drivers

As the entry fee charged from tourists is invested in the conservation of animals, more and more tourists are willing to re-visit wildlife sanctuaries and are ready to pay extra as entry fees, just to ensure animal life conservation. In addition to merely watching animals, tourists are also aware of the various fauna and flora species, which attracts them to wildlife tourism, which is consequently driving the growth of the wildlife tourism sector.

Lot of infrastructural development in and nearby wildlife sanctuaries such as hotels, guest houses and eco-tourism villages and jungles are also attracting a large number of tourists. So now tourists not only visit national parks and wildlife sanctuaries to see animals but also for relaxation which they get by being away from the hustle and bustle of city life. Due to better infrastructural development movie shootings also take place in nearby areas which attract local travellers and this fuels the growth of wildlife tourism.

Many schools arrange trips in wildlife sanctuaries to introduce students to the flora and fauna in sanctuaries. Besides, wildlife photographers who keep visiting the sanctuaries also create robust development in the sector of wildlife tourism. Many wildlife sanctuaries are famous for tigers. Ranthambore wildlife sanctuary and Kanha National Park in India are among the few sanctuaries where tourists can get very close to tigers.

Many tourists frequently visit these sanctuaries just to see tigers and this is boosting the global wildlife tourism sector.

Famous Wildlife Sanctuaries Across the World

Lone Pine Koala Sanctuary in Brisbane, Australia, Chengdu Moonbear Rescue Centre in China, Noah’s Ark in Georgia, USA, Corbett National Park in Uttarakhand, India are some of the famous wildlife sanctuaries across the globe.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

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Key Segments Profiled in the Wildlife Tourism Market

By Wildlife Tour Types:

  • Forest Wildlife Tours
  • Marine Wildlife Tours

By Age Group:

  • 15.25 Years
  • 26-35 Years
  • 36-45 Years
  • 46-55 Years
  • 66- 75 Years

By Tourist Type:

  • Domestic
  • International

By Tour Type:

  • Independent Traveler
  • Tour Group
  • Package Traveler

By Consumer Orientation:

  • Men
  • Women
  • Children

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Demand for Middle East Tourism Market is Likely to Grow at a CAGR of 5% Through 2032

The middle east tourism market size, whose valuation stands at US$ 246 billion as on 2022, is projected to grow at a CAGR of 5%, and the valuation is expected to go up to US$ 400.71 billion in 2032. Being a religious hub and offering tourists an experience of both modern society and ancient spots, the Middle East tourism market is expected to grow.

Middle East is one of the most popular destinations, especially amongst the people residing in Indian subcontinent. Middle East is known for offering a variety of places where we can go for sightseeing, fun activities, and many other things.

The Middle East is mainly located in Western Asia, but there are a few parts that go up to South East Europe and North Africa. The Middle East is mainly characterised by warm climate. The summers are extremely hot, and the temperature goes up to as high as 710C, while the winters are milder.

The beauty about Middle East is that despite being largely a desert area, the region also has rivers, seas, and gulfs. So, without a doubt, the Middle East has everything to offer at our disposal.

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What are the Current Market Dynamics Driving the Demand for Middle East Tourism Market?

If we talk about Middle East, the first thing that we can think about is the Hajj. Muslim devotees from across the world would come for Hajj pilgrimage to Mecca, which is believed to be a sacrosanct site for the Muslims across the world. This is located in Saudi Arabia. This might increase the demand for Middle East tourism.

In the Middle East, Iran is also regarded as one of the most popular holiday destinations. Hormuz Island is a beautiful place which is located here. It is also known as the rainbow island or the Bloody Island of Iran. The most spectacular aspect of this mountain is the Valley of Statue, Red Beach, and the Rainbow Mountains.

The Golestan Palace, which is a perfect example of ancient Persian architecture, is also visited by tourists across the globe.

Also, the pink mosque of Shiraz is something which is one of the most visited places in Iran. The mosque is decorated with multicoloured windows, which makes the entire mosque look outstanding.

Turkey is another country which is meant for its magnificent landscape, and the Ottoman architecture, which makes it one of the most visited destinations.

Istanbul in turkey is widely popular among the tourists. Istanbul is home to some of the most beautiful Islamic architecture. Some of the famous tourist destinations in Istanbul is The Blue Mosque, the Grand Bazaar of Istanbul, and the Hagia Sofia Mosque.

For those who want to visit historical monuments in Turkey, Diyarbakir is the place. The city has a history, which is more than 5000 years old, and has seen 26 different civilisations in this time frame. The place contains some of the most beautiful buildings and mosques, that relate to Roman, Ottoman, and Byzantine civilisation.

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For many people, Middle East is synonymous to UAE. Undoubtedly because UAE has a lot to offer for all kinds of tourists.

Dubai, which was once a deserted area, has evolved with time, and is currently one of the most technologically advanced places in the world.

Being a home to Burj Khalifa, calm sand dunes, and Palm islands, Dubai attracts number of tourists. Moreover, if tourists want to visit beaches, they can visit Jumeriah beach.

Dubai is also famous for desert safari. Tourists spend some time in the city outskirts, and visit the sand dunes, while enjoying the cultural shows on the way. Dubai is also studded with nightclubs, bars, and late-night eateries, which makes life in the night time very lively.

Dubai is the place for the adventure lovers as well. There are adventure activities like scuba diving, parasailing, and more near the water bodies.

Next in line is Abu Dhabi. Abu Dhabi is the capital of UAE.

One of the most famous tourist spots is Corniche. It is a waterfront promenade, which is a white sand beach. From the Corniche, we get a spectacular view of the Abu Dhabi skyline.

Ferrari World is one of the hottest tourist destinations in Abu Dhabi. This is the place for adventure as well as entertainment for people of all age groups. The Ferrari world also has the reputation of being the world’s first Ferrari based theme park.

People also visit Warner Bros. world. Even this indoor based theme park has the reputation of being the world’s first ever Warner Bros. branded theme park.

If you want to get a glimpse of the culture and history of UAE, Sheikh Zayed Mosque is the place to visit. The mosque is particularly famous for its grandeur.

Tourists can also get to enjoy fun activities related to water at Yas Waterworld. This place is famous for offering innovative rides.

Qatar is another place that has captured the attention of tourists throughout the world. The wide array of offerings in this region leads to a wide variety of experiences for all kinds of travellers.

One of the most famous destinations in Qatar is Souq Waqif. If tourists want to experience amazing shopping as well as dining experiences, Souq Waqif is the place. The traditional architecture and beautiful art galleries enthral the visitors.

The museum of Islamic arts is another place which is visited by tourists. It has the reputation of having the largest collection of Islamic arts in the world, which are more than 14 centuries old.

Qatar National Museum is also one of the most visited places. The museum displays the culture and heritage of Qatar.

The Pearl is an exquisite artificial island that has an impression of making visitors spell bound by its beauty. This island is a perfect example of larger-than-life image blended with entertainment.

Qatar is also famous for Khor Al Adaid, which is also known as the inland sea. This place can be considered rarest of the rare, as here the white sand desert meets the blue sea. Because of this very reason, this place is a major tourist attraction.

Another major holiday destination in Middle East is Egypt. The home to Pharaohs, tombs, and pyramids, Egypt is widely popular among tourists.

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What is the Regional Outlook for the Middle East Tourism Market?

The Middle East tourism market share is expected to increase in the future. The countries that have been analysed are: Bahrain, Cyprus, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Palestine, Qatar, Saudi Arabia, the Syrian Arab Republic, Turkey, the United Arab Emirates and Yemen.

Turkey is the most visited country in the Middle East, followed by Saudi Arabia and UAE.

Who are Some of the Key Players in the Middle East Tourism Market?

The Middle East tourism market size is anticipated to increase in the future. Some of the key market players are: Explorer Tours, I Love Adventures, Bin Dasmal Tourism LLC, Compass International Tours, Al Majid Travel and Tourism, Expedia, Kurban Tours, Sun and Sand Tourism & Travel, Thomas Cook, Saadi Tours and Travels.

  • In June 2020, Lisy Donald, the founder of Compass International Tours, was in the news for campaigning for space education.
  • Fairbridge Capital increases holdings in Thomas Cook India to 72%.

Key Segments Profiled in the Middle East Tourism Market Survey

By Booking Channel:

  • Phone booking
  • Online booking
  • In person booking

By Consumer Orientation:

  • Men
  • Women
  • Children

By Age group:

  • 15-25 years
  • 26-35 years
  • 36-45 years
  • 46-55 years
  • 56-65 years
  • 66-75 years

By Tour type:

  • Independent traveller
  • Tour Group
  • Package Traveller

By Tourist Type:

  • Domestic
  • International

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Event Tourism Market is Said to Progress at A CAGR of 4% During The Forecast Period

The global event tourism market size is expected to reach US$ 2.1 Trillion in 2032, to surge at CAGR of 4% during forecast period 2022-2032

Event tourism is the systematic planning, marketing and holding of events at tourist destinations. It is done in order to increase the number of domestic as well as foreign tourists. The number and type of stakeholders involved in event tourism differ from event to event. Various media such as electronic, print and especially social media play a major role in the promotion of event tourism. The awareness about the occurrence of an event, its schedules, entry passes, prices etc. is spread through digital media.

Attendees, employees, participants, spectators, sponsors, suppliers and volunteers are some of the key stakeholders of event tourism. The government, host communities, tourism organisations, tour operators and travel agencies play a significant role in event tourism.

An enormous amount of revenue is generated by the selling of souvenirs during events. Event tourism catalyses alcohol and culinary tourism as visitors taste cuisines at the destination during the event. Moreover, this leads to the growth of the tourism industry as tourists end up exploring other attractions of that destination. Cultural tourism is also promoted with the experience of new cultural diversity during the event.

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Different Types Of Event Tourism

Event tourism can be segregated into the following categories:

  • Arts & entertainment: Award ceremonies, concerts
  • Business & trade: Conventions and meetings, consumer and trade shows, fairs and markets
  • Cultural celebrations: Commemorations, carnivals, festivals, religious events
  • Educational and scientific: Clinics, conferences, seminars
  • Political and state: Political events, royal occasions, summits, VIP visits
  • Private: Parties, socials, weddings
  • Recreational: Games or sports for fun
  • Sports competitions: Amateur/professional, participant/spectator

All the aforesaid events can also be either “Hallmark events or Mega events” or both. A mega event is one that has more than 500 attendees while a hallmark event is one that is organised with the motive that the host community gets prominence in the tourism sector.

Event Tourism: Famous Events And Organisations

Datenwrek GmbH’s “Oktoberfest” in Germany is the world’s largest beer festival and had 5.6 million visitors in 2016. Rio Carnival Service’s “Rio Carnival” in Brazil is the world’s largest carnival with two million people enjoying popular Brazilian origin music Samba on the streets every day.

The Wimbledon Championships held in England attract tourists worldwide and is being held in London since 1877. “La Tomatina” festival is the world’s biggest food fight held in the town Bunol of Spain and receives an average influx of 50,000 tourists every year.

“The New York Fashion Week” held in the month of February in NYC is one of the major fashion events of the world. The International Live Events Association (ILEA) provides its stakeholders and members collaborative networking, credibility, educational development, inspiration, outward awareness and professional development to ensure a growing global events profession.

The International Association of Events & Exhibition (IAEE) is the leading association for the global exhibition industry which offers several meetings and educational programs throughout the year at an international level.

Event Tourism: Challenges & Concerns

The increasing number of terrorist attacks are a constant threat to event tourism. The loss of lives in shootings and attacks across the world has put the security of the visitors at a big risk.

Event professionals are always trying to adopt different methods to manage the risk of terrorist attacks. Lack of coordination between the government, hotel organisations, restaurants and tour operators are gaps in any nation’s event tourism strategy.

Countries such as New Zealand are also facing the problem of lack of planning in this industry. Also, people are still unaware of the various events taking place in different parts of the world because of inadequate advertising campaigns by the event organisers. Moreover, lack of infrastructure in some countries is also restraining the growth of event tourism.

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Event Tourism: Future Outlook

The emerging middle class in developing economies and the increase in the number of outbound travellers from countries such as China will foster the growth of event tourism across the globe.

The increase in available funding options such as angel investors, advance ticket sales, bank loans, crowd funding enterprises, sponsorship programs and the sale of exhibition space has expanded the growth of event tourism. The globalisation of events coupled with consumer awareness is driving the event tourism industry. Event tourism is one of the major contributors to the growth of global GDP.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

Key Segments In The Event Tourism Market

By Type:

  • Exhibitions and Conferences
  • Festivals
  • Corporate Events
  • Music Concert
  • Sports
  • Others

By Channel:

  • Virtual channel
  • Physical channel

By Revenue Source:

  • On-line registration
  • Off-line registration
  • Sponsorship
  • Others

By Age Group:

  • Below 18 Years
  • 18-50 Years
  • Above 50 Years

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Destination Market is Currently Forecasted to Grow at A Rate of 13% CAGR During the Forecast Period

The destination market size is poised to reach a valuation of US$ 120Bn in 2022. Sales are projected to increase at ~ 13% CAGR, with the market size reaching US$ 407.35 Bn by 2032.

The Destination Marketing is forecasted to grow at a consistent growth rate during the forecast period. This is majorly attributed to the growing popularity of global content and the trend of cultural integration. People interested in understanding culture from different regions and experiencing them are likely to visit these places. The natural beauty and the landscapes around the regions are attracting adventure seeking tourists and nature lovers.

Overall, the Destination Marketing is attracting more and more tourists each year and make them come back for experiencing more. the services provided by local businesses and the tour companies are leaving positive impression on tourists about the Destination Marketing.

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Key Takeaways from the Destination Marketing Market Study:

  • The North America, Europe and Asia Pacific regions hold a market share of ~26%, ~24% and ~30% respectively.
  • The two main marketing channels for tourism advertisements are social media and search engines.
  • COVID-19 affected 30% to the market.
  • Many regional governments are set to promote tourism, to revive the tourism sector after COVID pandemic.

“Tourists are in Search of unexplored and far-flung destinations for vacations, and marketing companies are promoting such locations, reviving tourism in many countries.” – FMI Analyst said.

Impact of COVID-19

Tourism sector in various regions all around the world were one of the best performing sectors. For economic development and progress, tourism was essential in many countries. As COVID-19 pandemic was declared, many countries closed their border and initiated lockdown to avoid spread of the virus. There were restrictions on travelling and only essential services like food and medical were operating during pandemic.

Tourism sector suffered a lot because of the pandemic. As everyone was in their house in lockdown and transportation was halted, there were no visitors to tourist destinations. As the tourism sector was closed, marketing sector for these destinations were also out of business.

Now, as the tourism sector is reviving itself steadily, tourists are searching for new destinations to explore. Many tour agencies are now offering tour to the places which are remote, with less crowds. The marketing companies are also focusing on promoting such places, and ensuring safe travel to tourists.

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Who is winning?

The key players in destination marketing sector are Amadeus Destination Marketing, Accord, MMGY global, DANA, DCI, Digitalcoconut, OP Worldwide, LLC, Sagittarius, VERB, OnlyTravel, etc.

The Destination Marketing Sector By Category

By Advertisement Media:

  • Magazines
  • Newspapers
  • Television
  • Emails
  • Others

By Attraction Type:

  • Natural
  • Festivals
  • Cultural
  • Artificial
  • Other

By Tourist Type:

  • Domestic
  • International

By Tour Type:

  • Independent Traveler
  • Tour Group & Package Traveler

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Hostel Market is Expected to Witness Significant Growth of USD 7.0 billion By the Year 2032

The hostel market size is estimated at USD 4.37 billion in 2022 and is projected to reach USD 7.0 billion by 2032, at a CAGR of 10.0% from 2022 to 2032.

Hostels are one of the trending mode of accommodation nowadays specially among youths. The introduction of hybrid hostels has become one of the key trends of hostel market. Hybrid hostels combines of affordability and sociability of hostel accommodation with upscale facilities such as advance technology, wifi, air conditioned, etc. The hybrid hostels are designed based on themes to attract vast audience.

Apart from that the hybrid hostels come with additional amenities and services such as: The Hostel Die Wohngemeinschaft, Cologne a hostel has a café bar, theatre, common lounge and the most important creative rooms that can be hired for inspiring conversation. Each room is decorated with unique theme; all beds are equipped with reading lamps and plug socket, the theatre can set up to 70 people and can host a variety of events like live music, talks, plays, films, etc. Apart from all this the hostel also has a living area to sit relax and complete the work.

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There are various types of hybrid hostels serving variety of audience in different way such as party hostels featuring the nightclubs, bars and lively environment, adventure hostels promoting the adventure activities such as trekking, rock climbing, etc, out of ordinary hostel based on a quirky hostel theme and many more. The uniqueness and the service they provide attract travelers to this place.

As such, the global hostel market is estimated to expand at a CAGR of over 10.0% throughout the forecast period of 2022-2032, to be valued at US$ 7.0 Bn by the end of 2032.

Key Takeaways from the Hostel Market Study

  • According to our analysis the international tourist as well as domestic both may generate opportunities for hostel market. The international tourists are interested in discovering the Asia culture, Western Culture and diversity whereas the domestic travellers in discovering new opportunities for their career and development.
  • Many hostel owners are growing fresh vegetables and buying good from local manufacturers to save the cost of operation. They also generate employments for housekeeping, kitchen, cleaning services to the people living in their nearby environment. Such initiatives are attracting many travellers to avail the service as a part of contribution to the environment.

Impact of COVID-19 on the Market

Hospitality and Tourism industry is highly affected due to covid-19 impact. The covid impact economically, politically and also socially. There was a major negative impact on hostel market during covid and also in post-covid situations. The major customers of hostels were youths traveling for work specially. The preventive measures from government of different countries such as lockdown and social distancing has not only result in reduction of travellers but also the people opting for hostel reduced drastically. Again in post covid situations the hostel owners were allowed to operate their hostels at 50% occupancy. The cause had an ultimate effect on hostel market.

Who is winning?

Leading manufacturers of hostel Market are focused on promotional strategies, upgradations and technological development, and new merger strategies that have driven sales growth of hostel market globally.

Major players present in the hostel market are Greg and Tom Hostel, La Banda Rooftop Hostel, Generator Hostel, WOKSEN, Hostelling International, Canada Hostel, London Backpackers, Newquay Backpackers, HostelWorld, Green Tortoise Hostel, Travellers House, Safestay plc, U Hostels, Ecomama, The Yard Hostel, Looming Hostel, Alter Hostel, Cuckoo Hostels, Gili Meno Eco Hostel, El Rio Hostel are among others.

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Global Hostel Market by Category

By Accommodation Type, Global Hostel Market is segmented as:

  • Private Room
  • Twin Sharing
  • Family Room
  • Suite
  • Others

By Booking Channel, Global Hostel Market is segmented as:

  • Online Booking
  • In Person Booking

By Tourist Type, Global Hostel Market is segmented as:

  • Domestic
  • International

By Tour Type, Global Hostel Market is segmented as:

  • Independent Traveler
  • Group Trip
  • Family trip
  • Student trip
  • Corporate Traveller

By Consumer Orientation, Global Hostel Market is segmented as:

  • Men
  • Women
  • Children

By Age Group, Global Hostel Market is segmented as:

  • 15-25 Years
  • 26-35 Years
  • 36-45 Years
  • 46-55 Years

By Region, Global Hostel Market is segmented as:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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