Culinary tourism is a hot and growing segment of the travel market and a new report suggests that it is going fast. Why? the world loves to explore great food.
Key Market Dynamics:
- Market Driver – The increase in integrative culinary and cultural events is one of the critical factors that will trigger the growth of the global culinary tourism market in the upcoming years. The growing number of local culinary programs introduced at music and arts festivals offers opportunities to foodservice providers and other culinary tourism suppliers to gain access to a potential customer base. Culinary tourism is gaining popularity among consumers. Destination management organizations (DMOs) are taking initiatives to leverage the growth of several art events and festivals to explore the role of food in them.
- Market Challenges – However, the such as eliteness quotient attached with luxury travels may impede the market growth. Luxury tourism, including culinary tourism, is considered to be an elite part of any lifestyle due to the high cost associated with it. This type of tourism is mostly enjoyed by the affluent sections of society. Most consumers in the developing and developed regions are reluctant to get involved in such types of activities, owing to the high cost involved. The elite nature of culinary tourism restricts the growth of the global culinary tourism market because many tourists, especially mass tourists, hesitate to spend too much on such trips. This, in turn, affects the global culinary tourism market growth during the forecast period.
Market Segmentation:
The culinary tourism market report is segmented by Type (Domestic and International) and Geography (Europe, North America, APAC, South America, and MEA).
- 31% of the market’s growth will originate from Europe during the forecast period. Germany, France, and the UK are the key markets for culinary tourism in Europe. Market growth in this region will be slower than the growth of the market in other regions. The increasing number of culinary tourist arrivals and the availability of cruising experiences for luxury travel seekers will facilitate the culinary tourism market growth in Europe over the forecast period.
- The domestic culinary tourism segment dominated the global culinary tourism market in 2020. It will continue its dominance throughout the forecast period as consumers are familiar with the domestic culinary tourism policies and rules and the financial tax imposed is lesser than that of international culinary tourism. The domestic market for culinary tourism is also driven by easy government regulations and a lack of currency exchange issues. The growth of the market segment is expected to be significant during the forecast period.
