As per a recent market analysis by Future Market Insights (FMI), bicycle tourism market is poised to reach a valuation of US$ 345.1 Million in 2022. Sales are projected to increase at a 14% CAGR, with the market size reaching US$ 1291.3 Million by 2032.
People around the world are getting more and more aware about the environment and looking for various ways to reduce the carbon footprint in order to save the degradation of environment. This has diverted people towards the use of bicycles, more sustainable mode of transport.
Bicycle tour is an efficient way of tourism which involves exercising while being fun and adventurous. After the pandemic era, people are also getting more health conscious and looking for options to be in shape along with feeding their desire to explore different parts of world.
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People want a break from their monotonous schedule after staying at their homes for a considerably high amount of time. The tour companies are coming up with new tour packages which include extra activities to satisfy the customer’s needs.
These packages are often preferred by tour groups wanting to utilize every bit of their energy to fulfil their hunger of tourism which include camping events, hiking events, yoga, meditation and many other activities. Furthermore, there has been a hike in the inflation after the pandemic and war which caused the increase in fuel prices and made the travellers choose bicycles as the primary mode of transport.
These factors has caused a tremendous impact on the bicycle tourism market by drawing traveller’s attention towards the benefits of utilizing bicycles as a mode of tourism. This trend is expected to grow in coming years as the need of sustainable travel and scarcity of fossil fuels will keep on rising.
“Rising awareness about sustainability and travellers getting more health conscious expected to boon the Bicycle tourism Market.“Says an FMI analyst.
Key Takeaways:
- Based on type of tourism, Touring/ Expedition predicted to account for a dominant share of Travelers in the market through 2032.
- By booking channel, the online booking segment is anticipated to hold a noteworthy share of nearly ~60%.
- In terms of age group, demand in the youngsters in the age group 15-25 years and 26-35 years will continue gaining traction through 2032.
- Based on packages, Bicycle tourism travelers will continue to opt tour group deals over the normal travel deals.
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Leading players in the Bicycle Tourism Market
- Backroads
- EcoBike
- Escape Adventures
- DuVine Adventures
- Butterfield and Robinson
- World Expeditions
- Spice Roads
- Exodus
- Intrepid
- G Adventures
- Himalayan Glacier Adventure and Travel Company
- Sarracini Travel
- Arbutus Routes
- Austin Adventures
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the Bicycle Tourism market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the Bicycle Tourism by Type (Road Cycling, Mountain Biking, Family Cycling and Touring/Expedition) Booking Channel (Phone Booking, Online Booking & In Person Booking) Tourist Type (Domestic & International) Tour Type (Independent Traveller, Packaged travellers, Tour Group) Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years, 56-65 Years, 66-75 Years) & Region – Forecast to 2017 – 2032.
Bicycle Tourism Market by Category
By Type, the Bicycle Tourism Market is segmented as:
- Road Cycling
- Mountain Biking
- Family Cycling
- Touring/Expedition
By Booking Channel, Bicycle Tourism Market is segmented as:
- Phone Booking
- Online Booking
- In Person Booking
By Tourist Type, Bicycle Tourism Market is segmented as:
- Domestic
- International
By Tour Type, Bicycle Tourism Market is segmented as:
- Independent Traveler
- Tour Group
- Package Traveller
By Age Group, Bicycle Tourism Market is segmented as:
- 15-25 Years
- 26-35 Years
- 36-45 Years
- 46-55 Years
- 56-65 Years
- 66-75 Years
By Region, Bicycle Tourism Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa(MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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