According to a recent market analysis by Future Market Insights (FMI), the Bicycle Tourism market is expected to reach a valuation of USD 345.1 million in 2022. Sales are projected to grow at a compound annual growth rate (CAGR) of 14%, with the market size anticipated to hit USD 1,291.3 million by 2032.
People worldwide are becoming increasingly conscious of the environment and are actively seeking ways to reduce their carbon footprint to help prevent environmental degradation. This shift in mindset has led many to embrace bicycles as a more sustainable mode of transport.
Bicycle tourism offers an efficient and enjoyable way to travel, combining exercise with adventure. Post-pandemic, there has been a growing emphasis on health and wellness, with more individuals seeking ways to stay fit while satisfying their curiosity to explore new destinations around the globe.
After spending an extended period at home, people are eager for a break from their monotonous routines. In response, tour companies are creating new packages that include a variety of activities designed to meet the evolving needs of travelers.
These packages are particularly popular among tour groups looking to maximize their energy and satisfy their wanderlust. They often feature a mix of camping, hiking, yoga, meditation, and other outdoor activities. Additionally, rising inflation, driven by the pandemic and geopolitical tensions, has led to higher fuel prices, prompting many travelers to turn to bicycles as a more affordable and eco-friendly mode of transport.
These factors have had a significant impact on the bicycle tourism market, drawing travelers’ attention to the benefits of using bicycles for tourism. This trend is expected to continue growing in the coming years, driven by the increasing demand for sustainable travel and the ongoing scarcity of fossil fuels.
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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.
Key Companies Profiled
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
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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