Culinary Tourism Market – An Eco-friendly Products to Reduce Waste and Ecological Footprints
- Culinary tourism refers to the pursuit of a unique eating and drinking experience. This is a tour in which local cuisines are explored by travelers. It connects travelers with local food and beverages.
- Culinary tourism is closely related to heritage and cultural tourism. Culinary tourism is found to be most attractive among travelers, owing to rise in interest in local food culture, rather than gourmet food.
- Local cuisine gives travelers a direct and authentic connection with their destination. They experience local culture, heritage and people through food and drink. Moreover, destination with its local food culture established an identity across the globe which encourages travelers for culinary tourism.
Increase in Population of Travelers to Drive the Global Culinary Tourism Market
- Expansion of tourism sector and rapid increase in number of travelers across the globe is expected to boost the culinary tourism market. Several travelers plan vacations specifically to have culinary trips and explore diverse food cultures. They experience and learn about local cuisine. They spend around 50% of their holiday budget on culinary activities. This is one of the major reason for the growth of culinary tourism. In addition, increase in popularity of wine, beer, and food festivals boosts the culinary tourism. This is expected to drive the culinary tourism market in the next few years.
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Expansion of E-commerce Industry to Drive Culinary Tourism Market
- Increase in use of online research and rise in popularity of television channels and other entertainment sources such as YouTube Cooking Channels, Travel and Lifestyle Channels are encouraging viewers to travel in certain destinations and try their local or traditional food. In addition, celebrity chefs, actors, and media endorsement for tour and travel are also one of the major reasons for expansion of the culinary tourism market. Furthermore, rise in popularity of seasonal and festival tours drives the culinary tourism market across the globe.
Asia Pacific to Hold a Leading Share of Global Culinary Tourism Market
- Geographically, the global Culinary Tourism market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the Culinary Tourism market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the Culinary Tourism market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America Culinary Tourism market is segmented into Brazil, and Rest of South America.
- Asia Pacific dominates the market share due to growing consumer preference to visit the country side which has increased global sales of Culinary Tourism.
- However, Asia Pacific is anticipated to grow at a fastest CAGR growth rate during the forecast period. Increase in per capita income and change in lifestyle is expected to increase the demand for the culinary tourism.
Key Players Operating in the Culinary Tourism Market:
The presence of key players in the domestic safety locker market is leading to competition among vendors. Limited branded and global players are dominating the overall market. To distinguish their products from competitors, players are focusing on aesthetic appeal, product technology, and add-on features which offer additional safety.
International and domestic players across the globe target tourists through memberships and by providing them with multiple facilities in limited amount of package. Furthermore, these players encourage travelers to participate in seasonal and festival culinary tours through various modes of digital channels.
These players are expected to take advantage of the rising industrial expenditure and new infrastructure development driven by increase in the number of culinary tourism in the region. The players are focusing on increasing mergers and acquisitions to gain an edge over competitors. The market is projected to see an upsurge in the trend of rising sale owing to higher infrastructure facilities. As a result, the overall rotary pump market is estimated to surge. A few of the key players operating in the global Culinary Tourism market are:
- Abercrombie & Kent USA
- Classic Journeys
- G Adventures
- Greaves Travel
- India Food Tour
- ITC Travel Group Limited
- The FTC4Lobe Group
- The Travel Corporation
- Topdeck Travel
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Global Culinary Tourism Market: Research Scope
Global Culinary Tourism Market, by Type
- Food Related Activities
- Food and Agricultural Festivals & Events
Global Culinary Tourism Market, by Tour
Global Culinary Tourism Market, by Distribution Channel
The report on the global culinary tourism market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.