Leisure Travel Market 2022 Development Strategy Regional Segmentation and Forecast To 2027

Astute Analytica has released new research on the worldwide Leisure Travel Market that provides a thorough explanation of a number of market analysis techniques, including SWOT analysis and five-point analysis. The market report also includes an in-depth analysis of several growth plans and initiatives to broaden the business's horizons on a regional and international scale. It gives readers a thorough explanation of all the market difficulties and development prospects related to the industry.

Along with significant data and other pertinent information, the study evaluates the competitive landscape and global market growth trend based on the business overview and helps businesses and investment organizations better grasp the market's growth characteristics.

The Global Leisure Travel Market size will grow from US$ 4,405.5 billion in 2021 to US$ 6,347.8 billion by 2027, registering a tremendous compound annual growth rate (CAGR) of 5.7% during the forecast period 2022 to 2027.

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Regional Analysis:

The United States garnered the highest share in the consumer goods sector, followed by China, India, Indonesia, Brazil, Mexico, and other developed and developing countries, and are forecast to have substantial growth over the upcoming years.

In 2020, China held dominance in the online retail sales sector. As the contactless economy grew in response to the COVID-19 epidemic, the country's e-commerce advantage grew further as digital services like remote education and healthcare became more accessible and new sales channels became essential. The rise in living conditions among Chinese consumers led to a shift toward development-oriented consumption rather than necessity-based purchasing. As a result, life services have swiftly become popular among consumers.

COVID-19 Impact

The COVID-19 pandemic changed how people buy and wreaked havoc on the market. Cleaning supplies, shelf-stable food, beverages, and toilet paper became scarce in certain nations. Furthermore, the function of sustainability is becoming increasingly important in the consumer goods sector; there is a growing desire for more sustainable and ethically manufactured products across the board.

However, the industry's fundamentals and stock market performance have deteriorated. In terms of economic profit contribution, several players began to pull ahead of the pack. The US market before COVID-19, for example, is instructive. In the United States, specific brands (with more than $750 million in revenue) lost volume at a pace of 1.5%. Small brands increased by 1.7%, while private labels increased by 4.3%.

Major Key Players in the Leisure Travel Market are:

Absolute Travel
American Express Travel
Backroads
Carlson Wagonlit Travel
Classic Journeys
Cox & Kings Ltd.
Expedia Group
G Adventures
Inspiring Travel Company
Journeys Within Tour
JTB Americas Group
Priceline Group
TCS World Travel
Travel Leaders Group
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Segmental Analysis:

The segmentation section of the report focuses on every segment, along with highlighting the ones having a strong impact on the Leisure Travel Market. The segmentation served as the foundation for finding businesses and examining their financial standings, product portfolios, and future growth potential. The second step entailed evaluating the core competencies and market shares of top firms in order to predict the degree of competition. A bottom-up method was used to assess the market's overall size.

Segmentation Overview

By Traveller Type

Solo
Group
By Sales Channel

Conventional Channels
Online Channels
By Region

North America
Europe
Asia Pacific
Middle East
Africa
South America
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About Astute Analytica:

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This release was published on openPR.