Vegan Flour Market Summary, Value Structure Analysis, Growth Opportunities And Forecast To 2032

The global vegan flour market is expected to reach a valuation of US$ 1.1 Bn in 2022, with sales growing at a CAGR of 6.5% over the forecast period. Against this backdrop, the market valuation is set to top US$ 2.08 Bn by 2032.

Increasing preference for plant-based ingredients in food products is expected to drive sales in the market. Some vegan flours available in the market are brown rice flour which is being used in sweets and savoury dishes due to its thicker consistency and sweet taste.

Almond flour is a high source of proteins and fibres and is used in making cookies, pancakes that are low-carb and help to lose weight. Coconut flour is used to sweeten up deserts and has a high source of fibre. The availability of a wide variety of vegan flours, coupled with increasing expenditure on plant-based food ingredients is expected to boost demand for vegan flour.

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Key players are focusing on packaging and labelling to enhance shelf life of vegan flour. They are offering effective packaging solutions that can be resealed easily to protect the flour from getting contaminated, prevent termite attacks and fungi formation.

Manufacturers are focusing on developing functional properties of vegan flour. Increasing incorporation of vegan flours in processed foods and snacks is anticipated to create opportunities for growth in the market,” says the FMI analyst.  

Key Takeaways:

  • Demand for vegan flour in the U.S. is expected to total US$ 192 Mn in 2022. Sales in the North America vegan flour market are forecast to grow at a 6.2% CAGR.
  • India will emerge as a lucrative market, with total sales reaching a valuation of US$ 98 Mn in 2022.
  • Sales in Germany will continue gaining traction over the forecast period, with the Europe vegan flour market reaching US$ 200 Mn.
  • By application, sales in the food and beverage industry hold the largest market share and are expected to increase at a CAGR of 6.5%.

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Competitive Landscape

Key manufacturers of vegan flour are investing in research & development to offer differentiated products with no chemical components. They are also launching new product lines to penetrate untapped markets. For instance:

  • In 2019, Irish-based functional ingredient supplier Healy Group introduced PrimaTex, a plant-based pea protein with numerous end-uses. This launch is in collaboration with British pea ingredient supplier, Novo Farina, which uses UK-harvested, milled pea flour for minimal carbon footprint.

Vegan Flour Market By Category

By Type:

  • Soy Flour
  • Oat Flour
  • Quinoa and Rice Flour
  • Nut-based Flour
  • Cereal based flour

By Nature:

  • Organic
  • Conventional

By Application:

  • Bakery Products
  • Soups, Sauces & Dressings
  • Confectionaries
  • Functional Foods

By Region:

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

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Key Questions Answered in the Report

  • What is the current global vegan flour market size?
  • What is the projected global vegan flour market size?
  • At what rate did sales in the global vegan flour market between 2017-2021?
  • What is the Europe vegan flour market demand outlook?
  • What are the key trends boosting sales of vegan flour?
  • What is the North America vegan flour market outlook?

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Pre Workout Supplements Market 2022 Size, Share, Technological Innovations & Growth Forecast To 2032

Sales in the pre-workout supplements market are expected to grow at a robust CAGR of 8.4%, reaching a valuation of US$ 14.02 Bn in 2022.

Maintaining good health and working out daily is no longer limited to bodybuilders and sports athletes. The pandemic as reiterated the importance of maintaining good health. This is expected to boost sales of pre-workout supplements market.

Consumers are preferring ready-to-drink pre-workout supplements as they are convenient and easy to use. They are portable and are available in bottles ranging from 200ml to 90ml which can be consumed in one go. Due to demanding work culture and lack of time for leisure, the demand for ready to drink supplements is expected to rise.

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Further, wide availability of different types of pre-workout supplements on online channels is expected to drive sales in the market. Online reviews and recommendations are playing vital role in convincing consumers to buy supplements.

As a result, key players are investing in developing their digital sales channels communicating with customers to better understand consumer requirements and develop different products accordingly. Manufacturers are also focusing on developing pre-workout supplements for different age groups.

Increasing consumption of healthy foods and high expenditure on health-related products is expected to propel the demand for pre-workout supplements in regions such as North America and Europe. Penetration of international brands is expected to ensure easy availability of products in Asia Pacific market, which in will fuel sales of pre-workout supplements.

“Growing preference for organic and clean label products is expected to boost sales of pre-workout supplements. The penetration of international brands in untapped markets will continue augmenting the growth in the market over the forecast period,” says the FMI analyst.

Key Takeaways:

  • Based on product type, sales in the powdered pre-workout supplements segment are forecast to account for 65% of the total market share.
  • In terms of sales channel, demand in the online segment is projected to grow year-over-year at a 5.7% CAGR.
  • The U.S. will continue dominating the North America pre-workout supplements market, with total sales reaching US$ 3.7 Bn in 2022.
  • The U.K. will emerge as a lucrative market due to growing preference for organic supplements. Sales in the Europe market are slated to grow at a 7.3% CAGR through 2032.
  • Demand for pre-workout supplements in India is expected to reach a valuation of US$ 2.8 Bn in 2022.

Competitive Landscape

Key manufacturers of pre-workout supplements are focusing on research & development to improve their product portfolios by adding different flavors and nutrients in the supplements. For instance:

  • GAT Sport’s launched Pumptropic, a branded pump pre-workout, designed to give improved pumps and mental focus. They will be stocked in flavours like  Pumptropic Strawberry Mango, Pineapple Orange Guava, and Fruit Punch for the initial promotion.

Pre-Workout Supplements Market by Category

By Form:

  • Powder
  • Ready to Drink
  • Capsule/Tablets

By Sales Channel:

  • Offline Sales Channel
    • Supermarkets/Hypermarkets
    • Departmental Stores
    • Convenience Store
    • Other Sales Channel
  • Online Sales Channel
    • Company Website
    • E-commerce Platform

By Region:

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

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Key Questions Answered in the Report

  • What is the current global pre-workout supplements market size?
  • What is the projected pre-workout supplements market size?
  • At what rate did the pre-workout supplements market grow between 2017-2021?
  • At what rate will the pre-workout supplements demand Grow in Europe?
  • What are the key trends shaping the pre-workout supplements market?
  • What is the North America pre-workout supplements market outlook?

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About 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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Organic Spices Market Dynamic Innovation 2022-2032: Business Insights and Forecast Analysis Report

The global organic spices market is expected to reach a valuation of US$ 15.4 Bn by 2032, with sales growing at a 4.6% CAGR over the forecast period.

Spices are in high demand in commercial and home sectors, not only because of their flavor and taste, but also because of the health benefits they provide. Consumers are willing to pay a premium price for high-quality, environmentally friendly, and organic products.

Consumers are drawn to food that is flavorful, appetizing, and colorful. Organic spices are being incorporated in bakery goods, snacks, confectionary, and beverage to improve the flavor, aroma, color, and shelf life of these products.

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Surging demand for clean-label and organic food products across the globe is compelling manufacturers to introduce products with all natural and organic ingredients, with full transparency of the ingredient lists. This trend is bolstering sales of organic spices, and the trend is expected to continue over the forecast period.

Growing adoption of herbs and spices to improve the shelf life of food products without adding sugar or salt will drive the organic spices market. In addition to this, rising popularity of global cuisine in various countries will spur demand in the market over the forecast period,” says the FMI analyst.  

Key Takeaways:

  • Based on form, sales in the powder segment are forecast to grow at a 3.5% CAGR, accounting for 50% of the total market share.
  • The food industry is expected to dominate the end use segment, holding more than 40% of the total market share, expanding at a 3.2% CAGR over the forecast period.
  • Demand for turmeric is projected to hold more than 15% share in 2022, growing at a 2.3% CAGR through 2032.
  • Sales of organic spices through direct sales channels will command around 65.4% of the total market share in 2022 and are expected to grow with CAGR of 2.8% CAGR.
  • The U.S. will continue dominating the North America organic spices market, with sales growing at a 2.8% CAGR.
  • Demand in the Germany organic spices market will grow at a 2% CAGR over the assessment period.
  • India will account for 30% of the South Asia organic spices market share through 2032.

Competitive Landscape

Key manufacturers operating in the global organic spices market are investing in research & development to develop innovative and unique product offerings. In addition to this, they are aiming at mergers, acquisitions and joint ventures to expand their geographical presence and increase the existing production capacity. For instance:

  • In July 2017, McCormick & Company, Inc. acquired Reckitt Benckiser’s Food Division with aim to increase the production capacity of the flavoring division.

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Organic Spices Market By Category

By Product Type:

  • Ginger
  • Turmeric
  • Basil
  • Cumin
  • Cinnamon
  • Clove
  • Pepper
  • Garlic

By Form:

  • Powder & Granules
  • Flakes
  • Paste
  • Whole/Fresh

By End Use:

  • Food
  • Beverage
  • Food Service
  • Retail

By Distribution Channel:

  • Direct
  • Indirect
    • Store-based Retailing
  • Hypermarket/Supermarket
  • Convenience Stores
  • Traditional Grocery Retailers
  • Food & Drink Specialty Stores
    • Online Retail

By Region:

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

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Key Questions Answered in the Report

  • How much is the global organic spices market worth?
  • What is the North America organic spices market outlook?
  • Who are the key players operating in the organic spices market?
  • What is the market share of the food industry in the global organic spices market?
  • At what rate will the organic spices demand grow in India?

How is the plant-based industry transitioning from a niche sector to a mainstream industry? Get the answers in Future Market Insights plant based market blog

About 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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Whey Protein Market | Competitive Insights with Key Driving factors and Top Players 2032

The global whey protein market is expected to total US$ 9.4 Bn in 2022, finds Future Market Insights (FMI) in a recent analysis. Increasing demand for sports nutrition products will drive the market at a robust 9.8% CAGR, with the market size reaching US$ 18.4 Bn in 2032.

Rising awareness regarding balanced diets, and increasing consumption of protein for mass gain, strength gain, and weight loss across the globe is expected to continue spurring demand for whey protein.

Furthermore, rising prevalence of chronic disease due to changing lifestyles, particularly among the millennial population is fueling the adoption of whey protein in nutrition and pharmaceutical products.

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In addition to this, increasing demand for sports nutritional supplements and rising health consciousness are expected to boost the market in the forthcoming years.

“Whey protein has a longer shelf life than other dairy products, allowing it to last for weeks while preserving its characteristic state, thereby driving its applications in bakery and packaged food products. In addition to this, surging adoption of whey protein in infant food will continue augmenting the growth in the market over the forecast period,” says the FMI analyst.  

Key Takeaways:

  • Based on product type, demand in the whey protein isolated segment is forecast to remain high over the assessment period.
  • Applications in the nutrition and pharmaceuticals segment will continue gaining traction through 2032.
  • Europe and North America are the top two regions holding more than 60% of the total market share.
  • India, Mexico, and the U.K. will emerge as lucrative pockets in the whey protein market over the forecast period.

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Competitive Landscape

The global whey protein market is moderately fragmented attributed to the prevalence of numerous large and small manufacturers competing on price and quality. Some recent developments include:

  • In June 2020, Arla Foods launched Lacprodan Hydro, a new whey protein ingredient for healthy ageing that has been clinically proven to slow age-related muscle mass decline.
  • In October 2020, Carbery will release Optipep 4Power, a fresh hydrolyzed whey protein. It is specifically designed for high-intensity duration workouts.

Whey Protein Market Industry Analysis By Category

Product Type:

  • Whey Protein Hydrolysates
  • Whey Protein Isolates
  • Whey Protein Concentrates
    • Whey Protein Concentrate 35
    • Whey Protein Concentrate 50
    • Whey Protein Concentrate 60-80

Application:

  • Food and Beverages
  • Nutrition Products and Pharmaceuticals
  • Feed Applications
  • Others

Region:

  • Eastern Europe
  • European Union
  • Latin America
  • North America
  • Oceania

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Key Questions Answered in the Report

  • How much is the Whey Protein Market current worth?
  • At what rate will the whey protein market expand?
  • At what rate did the whey protein market grow between 2017 and 2021?
  • Which are the countries driving demand for whey protein?
  • Who are the leading players in the whey protein market?
  • What is the Europe Whey Protein Market Outlook?
  • At what rate will the U.S. Whey Protein Market grow?

How is the plant-based industry transitioning from a niche sector to a mainstream industry? Get the answers in Future Market Insights plant based market blog

About 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.

Contact:

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Mobile Food Services Market is Reaching a Value of About US$ 21 billion in 2022

The mobile food services is forecasted to be valuated at US$ 37.61 billion by 2032, up from US$ 21 billion in 2022, advancing at a CAGR of 6% from 2022 to 2032.

Food trucks have been an integral part of many vibrant societies. These popular mobile food joints populated the US and soon became a very popular window for food shopping. The instant availability, affordable pricing and latest experimental food itinerary helped mobile food services earn an edge over contenders.

Mobile food services have flooded the entire food and restaurant market in the US and Europe in 2009 and with passing time their popularity soared and mobile food services reserved their space in the lives of the middle-class population.

Mobile food services not only created a parallel food based economy but also generated massive jobs in the food sector and many of the aspiring chefs and entrepreneurs found a foothold in the food industry.

The technological advancements in the sector have helped mobile food services gain momentum. Social media platforms have given a much-needed publicity while advanced GPS services have brought mobile food services closer to consumers. The surging popularity of food trucks amongst commoners has created a new avenue for this business model. Several countries across the globe have allotted specific space to food trucks to expedite their sale.

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Mobile food services are giving a steady challenge to the brick and mortar hotels and keeping the cost of the market in control by creating a competitive ecosystem. The concept of mobile food services is growing in Asia but they are dominating the existing food markets of Australia, Canada, France and several other countries.

As per a report published by the United Nations, a massive portion of the world population feeds on street food, which is offered by these mobile food services. Mobile food services have been the first line of food supplies in countries such as Brazil, Thailand and Indonesia.

Mobile food services are transforming their presentation techniques and also changing their selling strategies. Apart from using digital platforms for branding these mobile food services are also using tailor-made apps and digital payment corridors to enhance the convenience of their customers.

This business fraternity is facing fierce competition from conventional food joints and they are also finding it hard to adjust to the competition that is emerging every day in their own class. Managing space in a busy populated area is the biggest challenge. Often it becomes hard to gauge the human traffic movement and to extract benefits of the pouring footfalls.

Mobile Food Services: Game Changers

Mobile food services are growing worldwide and the market is expanding. The massive global economic meltdown and soaring number of unemployed youths are pushing many towards this sort of low budgeted business. To adjust with the fast paced lifestyle people are adapting to the new medium of food supply.

Enhanced food safety awareness amongst the people is providing leverage to mobile food services. The startup trend across the world is also pushing the growth of mobile food services.

Mobile Food Services: Restraints

Many countries across the globe including the US have regulated the movement and growth of this segment. Regular checkups are conducted on food trucks to maintain food quality and this has created hurdles in the free growth of this segment.

The brick and mortar restaurants and other renowned food chains are facing enormous competition from these small time traders and in many countries big restaurant lobbies are influencing lawmakers to frame adverse laws to check the organic growth of mobile food services.

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Mobile Food Services: Top Players

There are several renowned mobile food services available across the world. Some of the famous mobile food service providers include Kogi BBQ, Phat Cart, Cupcakes for Courage, Yumbii, Wafels and Dinges, Ms Cheezious, The Waffle Bus.

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 Profiled in the Mobile Food Services Market Survey

By Application:

  • Food Truck
  • Removable Container

By Product:

  • Food
  • Beverages

By Region:

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

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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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River Cruises Market is Projected to a US$ 1.71 billion by 2032, up from US$ 1.45 billion in 2022

The river cruises market is projected to amass a revenue of around US$ 1.71 billion by 2032, up from US$ 1.45 billion in 2022 moving forward with a CAGR of 2% during the forecast period (2022-2032).

River cruises is now a major tourist industry in different parts of the world. In a river cruise, the ship is smaller and carriers fewer people than in an ocean liner. Also, since the river cruiser is smaller, these type of ships can travel in a river and in shallow waters and gives the traveller a chance to explore vibrating cities and laid back towns and villages, and also go in unexplored areas where large ships cannot go.

River cruises as an industry is flourishing in Europe, United States, South East Asia, and Africa. Some popular locations on river cruises include London, Paris, Amsterdam, Budapest, Bangkok, Singapore, Ho Chi Minh City, New York, San Antonio, Luxor and Cairo.

River Cruises: Drivers and Restraints 

Most river cruises give the luxury of unpacking only once and then the traveller is all set to enjoy the sights and sounds of their river cruise.

River cruises are relaxing, giving the traveller a reprieve from the fast paced urban life and offer great food and great chances of exploring interesting cities, towns and villages that large ships cannot go to because of size limitations. These are some of the drivers that are boosting the river cruises industry worldwide.

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However, the traveller must remember that once in a river cruise, the traveller will have to follow the schedule set by the organisers. If the traveller finds one place more interesting, they cannot stay at that place longer, because the river cruiser has to leave the said port. In addition, some of the river cruises are only meant for adults and they are not meant for children. This limits the adoption of river cruises as a vacation option.

River Cruises: Description  

Since river cruise ships tend to be smaller than the ocean cruisers, the travelling experience in river cruisers can be intimate and travelling in some of these cruisers can be really fun.

There is no mad rush to get back to the hotel, as the hotel is always a walk away on the river bank. Also, you have to unpack only once, since you don’t need to change your hotel room always when you are in a different city or a town, the ship is always nearby.

However, the traveller must keep in mind that river cruises are a rather subdued affair as compared to life in an ocean liner where you can dine in different restaurants every night or spend the whole night in a casino. In contrast, since the river cruisers are smaller, the experience on board one is far more intimate and relaxed. Also, unlike an ocean cruise, land is always in sight in a river cruise and the traveller isn’t at a risk of getting motion sickness.

The biggest advantage while on a river cruise is that the traveller doesn’t need to plan each and every step of the travel, since once you book a river cruise, everything is taken care of and the traveller just has to follow the schedule of the river cruiser. Also, since the size of the river cruiser is much smaller, the traveller gets to know each and every one in their group as the number of people travelling together is far lesser.

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This leads to a first-hand experience to know different travellers from different walks of life and there is an advantage of getting personalised service from the crew of the river cruiser. Due to all these advantages and the lure of an intimate and a laid back holiday, many travellers are getting attracted to river cruises and such cruises are getting more and more popular.

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.

Key Segments Profiled in the River Cruises Market Survey

By Type:

  • Onboard facilities
  • Passenger tickets

By Age Group:

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

By Customer Orientation:

  • Male
  • Female
  • Others

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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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Camping and Caravanning Market will Expand at a CAGR of 7.6% in 2030

The global camping and caravanning market is projected to rise at a CAGR of ~7.6% between 2020 and 2030, Future Market Insights foresees stable growth for the market. Nowadays, most of the countries, such as the Philippines, India, Thailand, Brazil, and UAE, are significantly investing in their airports to improve arrival/departure facilities for a large number of tourists in the foreseeable future.

Moreover, players in these countries focus on restoration of heritage and camping sites, as well as infrastructure. Additionally, improvement of lifestyle, showcasing culture & diversity, and cooperative partnerships between governments to enhance infrastructure for better living and commuting are other factors contributing to the growth of the camping and caravanning market.

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Key Takeaways from the Camping and Caravanning Market Study

  • According to the report, companies are increasingly focuses on customer loyalty programs, as the camping and caravanning is a customer-driven market, and players target a particular set of customers and retain them by meeting their requirements. Accordingly, the development of technology-driven, customer-centric services and innovative discount offers through gift cards is expected to boost the revenue of the companies in the global camping and caravanning market.
  • Nowadays, e-Gifting is gaining popularity among consumers, owing to advantages such as convenience, easy availability, and customization benefits. Thus, prominent players in the camping and caravanning market offer e-Gift cards to customers with an objective to retain them in the future.
  • The Europe region is expected to retain its dominant position in the global camping and caravanning market, due to increase in frequency and length of holidays by young population in the caravan camping parks coupled with growing trend of mobile homes without relying on hotels or motels in the region.
  • Among destination type, the privately owned campgrounds segment is anticipated to show a relatively higher CAGR in the global camping and caravanning market in the near future, as increasing number of millennial campers and rise in demand for luxury camping facilities across the globe.

“Prominent players in the global camping and caravanning market are focusing towards loyalty programs to attract customers towards camping activities. Moreover, prominent players are significantly advertising and promoting gift cards for campers through social media and other offline stores to increase customer awareness and retention rate” says an FMI analyst.

Staying connected on social media while camping remains a priority of millennials. The availability of Wi-Fi and improved cell phone service at campgrounds is increasing the active participation of millennials in camping parks, is anticipated to propel the camping and caravanning market in the foreseeable future. Additionally, the fast-paced advertising and technological landscape has become an essential part of the camping and caravanning industry, as tourists seek the best travel experience in a shorter duration is another factor drives the global camping and caravanning market over the forecast period.

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Who is winning?

Some of the key players operating in the camping and caravanning market ACCOR SA, Internacional Palamos, Radisson Hotel Group, Haven Leisure Limited,  Hilton Worldwide Holdings Inc., TENTRR, HIPcamp, Vacansoliel, Selectcamp, ACSI Holding BV, and others.

Several prominent market players are significantly exploring new camping sites as more and more people are showing interest in adventure camping and glamping. Besides this, companies are also significantly improving their digital presence to meet customer expectations and introducing new customer loyalty programs by providing personalized experiences and reserving exclusive offers for members.

  • In January 2020, Hilton Worldwide Holdings Inc. introduced a new lifestyle hotel brand ‘Tempo’, to serve the growing segment of modern achievers. This new chain of hotels, with wellness and sustainability at the foundation, will provide a unique experience to younger and eco-friendly travellers. This expansion is anticipated to help the company expand its product portfolio and market footprint worldwide.
  • In 2020, ACSI Holding BV introduced new ACSI guides and apps for campers who likes to visit campsites with their own motorhome. This will enable travelers to camp at bargain prices off-season at more than 3,600 campsites in Europe. It will also provide extensive information about 8,000 ACSI-inspected campsites.

Get Valuable Insights into Camping and Caravanning Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global camping and caravanning market, presenting historical demand data (2014-2018) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the camping and caravanning market based on the destination type (state or national park campgrounds, privately owned campgrounds, public or privately owned land other than a campground, backcountry, national forest or wilderness areas, parking lots, and others), type of camper (car camping, RV camping, backpacking and all), consumer orientation (male, female, and kids), and age (6-12 yrs, 13-17 yrs, 18-24 yrs, 25-44 yrs, and 45 + yrs) across seven major regions.

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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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Indigenous Tourism Market to Reach at a US$ 65.16 billion by 2032

The global indigenous tourism market is expected to garner a revenue of around US$ surpassing US$ 65.16 billion by 2032, up from US$ 40 billion in 2022 with a CAGR of 4% during the forecast period (2022-2032).

The size of the indigenous tourism market is growing as more visitors go to indigenous sites and engage in cultural tourism activities like seeing a fish wheel and discovering the current significance of salmon to the locals.

Native American-owned hotels, wineries, resorts, restaurants, museums, and interpretive centres are a few such examples that are boosting the demand for indigenous tourism.

Since indigenous tourism is currently one of the fastest expanding segments of the sector and offers employment prospects, it is becoming increasingly popular.

The cultural diversity and knowledge of indigenous peoples can provide innovative experiences and new indigenous tourism market opportunities for businesses and local communities.

It has come to light that indigenous tourism has developed into a significant “getaway” that has helped people find their true purpose in life by upholding a desirable work-life balance.

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What are Some of the Factors Driving the Indigenous Tourism Market?

A desire for greater cultural understanding is one of the biggest drivers of the demand for indigenous tourism.

The relations between white settler European populations and the natives of North America and Australia were never very harmonious from the 16th century all the way up to the 20th century.

Hence, in the 21st century, there is a noted increase in the number of individuals wanting to understand the customs, traditions, and way of life of the indigenous people, in turn, fuelling the adoption of indigenous tourism.

The second factor scaling up the adoption of indigenous tourism could be the government encouragement.

What are Some of the Factors Hampering the Indigenous Tourism Market?

As per the indigenous tourism market analysis by FMI, there are some challenges faced by the indigenous tourism sector today and a major one is inadequate government funding.

While governments of countries like the U.S, Canada, Australia and New Zealand have recognised the importance of their indigenous people and have pledged to support them, it is not enough at the present time.

Who is Winning?

Indigenous tours WA, Indigenous tours & charters, Aboriginal Australia Tours, Broome visitor centre, Lomdadina indigenous tours, Indigenous Walks, Indegeno Travel, GA Adventures, Voyages Indegeneous Tourism Australia, Destination British Columbia, Sumak Travel

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Key Segments

By Traveller:

  • Solo
  • Group

By Activity Type:

  • Festivals
  • Rituals

By Tourism Theme:

  • Ethnic Food Items
  • Herbal Medicines
  • Handicrafts

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • MEA
  • Europe

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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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Destination Wedding Market is Expected to Reach at US$ 290,550.5 Mn in 2031 | Impact of COVID-19 on the Market

The destination wedding market with the rising penetration of social media. Usage of drone footage in marriage events takes destination weddings to the next level. Future Market Insights (FMI) in its latest study has forecast the market to rise at a CAGR of ~30.6% between 2021 and 2031.

As per the market analysis, the destination wedding market will generate revenue, surpassing US$ 21.5 Bn in 2021. By 2031, the market is forecast to cross US$ 290 Bn. Food service activities remain important and are set to account for 39% of the value share in 2021.

With the help of drone videography, couples can avail high-quality footage and photos while saving time and money compared to traditional photography solutions. New generation couples are focusing on sustainability and many consumers prefer eco-friendly destination weddings.

Many players offer natural locations for destination weddings like the Riverview Retreat in Jim Corbett and the Banyan Tree, Phuket. Choosing a park or resort not only provides a beautiful spot to get married but also contributes economically while bolstering exposure to a place devoted to environmental stewardship.

Companies are extensively focusing on leveraging their services through enhancing retail penetration and mass marketing. They are actively collaborating with well-established and local online retailers to ensure accessibility in both developed as well as developing countries. These trends are expected to fuel growth in the long term.

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Key Takeaways from the Destination Wedding Market Study

  • International destinations are expected to hold 66% revenue share owing to a wider range of options for aesthetics and climate that have attracted a larger pool of couples.
  • Wedding ceremonies dominates the market with a 33% share, with higher importance being given to family functions.Italy holds a noteworthy share of 17% of destination weddings, aided by a wider range of location options.Santorini will account for a 16% share owing to a high level of penetration of key players with varieties of beaches and scenic mountain locations.
  • Corfu accounts for 15% of destination wedding events, aided by destination options and optimal climate for most of the year.
“Rise in personalized, innovative and green wedding events with a focus on attractive surroundings, advanced facilities, and a surge in income and rapid urbanization are key factors that will positively influence market revenue through 2031,” says an FMI analyst.
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Impact of COVID-19 on the MarketThe outbreak of the novel coronavirus has resulted in an economic downswing by causing disruptions in the business operations in various sectors. The service industry is one of the hardest hit. There has been observed a reduction in the overall discretionary spending, which posed a temporary challenge for the players operating in the market.

As the coronavirus crisis continued, large cities banned gatherings and asked people to follow social distancing guidelines.

Couples have moved on to live streaming using videoconferencing applications. This led to a major slowdown in the wedding industry, with many couples canceling or postponing their events. Many people who work in wedding industry including photographers and caterers also suffered due to strict norms.

However, with improving situations in the third quarter of 2020, the market saw a slight improvement. It is expected for the market to gain its initial growth in the second quarter of 2021.

Who is winning?

Aggressive promotional strategies, advertisements, and new product launches have driven sales of destination weddings around the globe.

Major players present in the destination wedding market include White Eden Weddings, FiestaSol, Tropical Wedding & Honeymoon, Magical Weddings, Sparkles & Bubbles, ALL THINGS BEAUTIFUL, PLANNED FOR PERFECTION, Peach Perfect Weddings, The Wedding Travel Company, LM WEDDING PLANNER, Jennifer Fox Weddings, W Day, The Destination Wedding, Wedding Planner Roma, and Studio Brzak Events among others.

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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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Saudi Arabia Hajj Tourism Market is Likely to Surge at a Vigorous 7.0 % CAGR from 2022 – 2032.

The saudi arabia hajj tourism market is likely to surge at a vigorous 7.0 % CAGR from 2022 – 2032. Likely to reach a market revenue of US$ 150.0 Bn in 2022, and is expected to cross US$ 350.0 Bn by 2032.

The Hajj is an annual journey to Mecca in Saudi Arabia and is the world’s largest mass gathering. All the physically and financially able grownup Muslims make Hajj at least once in their lifetime.

Around two million Hajjis travel to Saudi Arabia during September to visit Islam’s holiest places, Mecca and Medina. Earlier, Hajj was a simply a traditional ritual in the Islamic world, but in recent days it has become a tourism destination because of the facilities evolved over the last few years.

The Hajj signifies main tourism prospect for both national and international stakeholders, mainly tour operators and hotel groups. The Saudi Arabia government is also supporting this holy gathering by investing in hotels and renovating ancient religious sights. To promote Hajj tourism globally a landmark hotel named as Abraj Kudai Hotel is in the pipeline – this hotel is anticipated to be the world’s largest hotel with 10,000 rooms.

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Hajj is emerging as a perennial flow of religious tourists and is a primary source of revenue generation from international pilgrims from countries with a large Muslim population. Domestic pilgrims are also contributing to the revenue generation. Some of the international pilgrims come from countries such as India, Indonesia, Nigeria, Morocco, and Algeria among many other Muslim countries.

Saudi Arabia Hajj Tourism Market: Drivers and Opportunities

Mainly, factors such as religious faith or established rituals to follow among spiritual Hajjis and the growth in per capita income are driving Saudi Arabia Hajj Tourism Market by bringing Hajjis from all over the globe. The other drivers that trigger the demand for Hajji Tourism in Saudi Arabia are the comforts and facilities built for the devotees, ease in travel and accommodation. Besides, many historical monuments are renovated by the Saudi government which become add-on tourist spots and major attractions for the pilgrims.

Saudi Arabia Hajj Tourism Market is an enormous opportunity for travel and hotel industry for future business prospects. Some opportunities listed are many domestic and international airlines including Qatar Airways, Qatar’s Al Maha airlines that provide their services on domestic and international routes, and this will increase the competition.

The rise in the volume of national and international Hajjis propell the demand for accommodation thereby boosting hotel rentals. Backpack concept in areas such as Riyadh, Jeddah and Medina is also coming up as a possible opportunity with a business and facility point at Hajj Tourism within the Saudi Arabia tourism industry.

Saudi Arabia Hajj Tourism Market: Restraints

As Hajj is practiced from ancient time and is a tradition in Islamic region, persistence in the visit by devotees can be seen significantly, but some factors such as lack of facilities, chances of accidents, and lack of travelling provinces are slowing down the volume of pilgrims to an extent.

Although the government and private sector have taken many initiatives to overcome the hindrances to some extent, certain restraints such as large rental car booking, shortage of rental vehicles, over occupancy of accommodation, serious crowding of the places and unorganised facilities hinder Saudi Arabia Hajj Tourism Market.

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Saudi Arabia Hajj Tourism Market: Options

As per the 2013 Saudi Tourism and Antiquities Committee (SCTA) count, there were around 160 tour agents in Saudi Arabia catering only to religious tours mainly Saudi Arabia Hajj Tourism Market.

Some of the prominent Hajj tour operators who provide their services to tourists across the world include Flynn’s Company LCC Accor KSA, Al Tala’a International Transportation Co. Limited, Fly Dubai Saudi Arabia, Al Tayyar Travel Group, Zamil Travel, Avis Saudi Arabia, Zahid Travel Group, Boudl Hotels & Resorts, Wyndham Hotel Group Saudi Arabia, and Europcar Saudi Arabia among many others.

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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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.

Contact Us:                    

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Plot No: JLT-PH2-X2A
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