Amusement Parks Market Share, Size, Trends, Industry Analysis Report, By Age, By Rides (Water Rides, Mechanical Rides, Other Rides), By Revenue Source (Tickets, Food & Beverages, Merchandise), By Region, And Segment Forecasts, 2024 - 2032
- Published Date:Dec-2023
- Pages: 119
- Format: PDF
- Report ID: PM4143
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global amusement parks market was valued at USD 65.81 billion in 2023 and is expected to grow at a CAGR of 5.4% during the forecast period.
Amusement parks are witnessing increased popularity among visitors of all ages due to innovative rides, accommodation options, and merchandise offerings. Consequently, the number of both adults and children visiting these parks is on the rise, leading to an expansion in the parks' target audience. Ancillary revenue for amusement parks is expected to come primarily from the sale of merchandise and food & beverages through park-based retail outlets and restaurants. Furthermore, the global market is experiencing growth due to factors such as the growing urban population, international tourism, and the increased disposable income of the middle-class population.
To Understand More About this Research: Request a Free Sample Report
To expand their customer base and enhance their market presence, amusement park owners are incorporating wristbands to attract more visitors. For instance, Six Flags Entertainment Corporation introduced a groundbreaking wristband named THE FLASH Pass, utilizing IoT technology to efficiently manage wait times and monitor queues. These innovations have led to a positive impact, attracting more visitors and strengthening the park's customer base. Additionally, park owners are investing significantly in indoor attractions to provide exciting experiences, even in unfavorable weather conditions.
For Specific Research Requirements, Request for a Customized Research Report
Growth Drivers
- Growing Disposable Income
Amusement parks featuring themes inspired by fictional characters enjoy significant popularity among visitors, especially those designed around beloved Disney and Marvel movies. These parks serve as venues where children and enthusiasts can interact with costumed characters, adding to the immersive experience. For example, Universal Studios Orlando has gained immense popularity due to its attraction, the Wizarding World of Harry Potter, which features iconic structures from the Harry Potter series, including Hogwarts castle. Similarly, Universal Studios Florida is renowned for its Diagon Alley theme park, offering thrilling and multidimensional rides, creating an engaging and adventurous environment for visitors.
Report Segmentation
The market is primarily segmented based on rise type, age, revenue source, and region.
|
By Ride Type |
By Age |
By Revenue Source |
By Region |
|
|
|
|
To Understand the Scope of this Report: Speak to Analyst
By Ride Type Analysis
- Water rides segment garnered the largest share
Water rides segment dominated the amusement parks market and expected to exhibit robust growth rate over the study period. This growth can be attributed to the rising focus on recreational activities that are suitable for families. Water rides have gained popularity due to their inclusive nature, appealing to various age groups. These rides offer entertainment that is accessible to everyone, making them a favored choice for family-oriented outings and leisure experiences.
Water rides are operational only during specific times of the year, contingent upon weather conditions in different regions. For example, these rides are typically closed in European countries during the winter season. Furthermore, amusement parks that operate year-round provide an array of supplementary services, including dining options, accommodations, souvenir shops, golf courses, and various other entertainment and recreational activities.
By Age Analysis
- 19-35 years segment accounted for the largest market share in 2022
19-35 yrs segment accounted for the largest market share. This trend can be attributed to the growing preference among young adults for distinctive and engaging entertainment experiences. Amusement parks are uniquely equipped to meet this demand, providing a wide variety of attractions tailored to cater to the adventurous inclinations of this age group. These parks offer a spectrum of entertainment options, including exciting rides and live shows, creating an immersive environment that resonates with the thrill-seeking nature of young adults.
Furthermore, the inclination to capture and share thrilling moments on social media platforms such as Instagram and TikTok has driven young adults to seek experiences that are visually captivating and easily shareable. Amusement parks, characterized by their lively and visually appealing surroundings, naturally align with this trend. Their vibrant aesthetics and photogenic environments make them an ideal choice for this demographic, as visitors can capture and showcase their exciting experiences to a wider audience, enhancing the parks' popularity among young adults.
35-50 yrs segment will exhibit robust growth rate. This growth can be attributed to the rising number of parents who accompany their children aged 18 years or below to amusement parks. Individuals within this age segment often accompany their kids and teenagers, leading theme parks to focus on offering well-rounded, high-quality family entertainment experiences suitable for visitors of all ages. Additionally, parks are placing emphasis on the use of wristbands to attract attention. They are also prioritizing excellent customer service and organizing a variety of entertainment events, ferry rides, and activities with a retro theme, all aimed at attracting more visitors within the 36-50 age range.
By Revenue Source Analysis
- Tickets segment accounted for the largest market share in 2022
Tickets segment accounted for the largest market share. This is primarily due to growing trend of experiential entertainment and the desire for unique recreational experiences driving the demand for amusement park tickets. Nowadays, consumers see visits to these parks as more than just outings; they view them as opportunities to craft enduring memories and engage in immersive, interactive attractions. Visitors seek experiences that go beyond mere rides, aiming for activities that provide memorable moments and a sense of participation, making ticket sales a significant source of revenue for amusement parks.
Hotel/resorts segment will exhibit robust growth rate. As the middle-class population expands, more individuals have higher disposable incomes, enabling them to indulge in leisure and entertainment activities. Consequently, this growth in disposable income has led to a surge in demand for both hotels and amusement parks. The middle-class demographic, with its increased purchasing power, has become a substantial customer base for the hospitality and entertainment sectors. This trend has further fueled the development of hotels and resorts in close proximity to amusement parks, creating a mutually beneficial relationship between the two industries.
Regional Insights
- North America accounted for the largest share of global market in 2022
North America garnered the largest share. Region’s growth is due to the growing popularity of "staycations" among North Americans. Staycations refer to vacations where individuals choose to stay close to home rather than traveling internationally. Several factors have contributed to the rise of staycations, including concerns over international travel, economic considerations, and a desire for convenient and budget-friendly entertainment options.
Families can create memorable moments, enjoy thrilling rides, and engage in interactive activities within a manageable distance from their homes. The appeal of staycations combined with the diverse offerings of amusement parks has made them a go-to choose for American families seeking memorable and affordable vacation experiences closer to home.
APAC will grow at the substantial pace. The region's large population, including emerging middle-class families, provides a ready audience for entertainment offerings like amusement parks. As disposable incomes rise within this demographic, more families have the financial means to indulge in leisure activities, including visits to amusement parks. Social media engagements also play a significant role. The proliferation of social media platforms has created a vast network where people share experiences and recommendations. Positive reviews and engaging content about amusement parks on social media platforms attract more visitors, encouraging tourism and recreation.
Key Market Players & Competitive Insights
Some of the major players operating in the global market include:
- Cedar Fair Entertainment Company
- Disney
- Comcast
- Chimelong Group Co., Ltd
- Ardent Leisure Group Limited.
- Fantawild Holdings Inc.
- IMG Worlds of Adventure
- Merlin Entertainments
- SeaWorld Parks & Entertainment, Inc.
- Warner Media, LLC.
Recent Developments
- In May 2023, Walt Disney introduced the world's first frozen-themed zone at the Hong Kong Disneyland Resort, investing a total of USD 60 billion in this venture. This enchanting attraction will feature two unique rides, including a scenic boat journey through a winter wonderland, accompanied by the iconic music from the beloved movies.
- In October 2023, The American Heartland Theme Park and Resort revealed their plans to open an "Americana-themed" amusement park in 2026, investing a total of USD 2 billion in the project.
- In March 2023, Imagicaa World Entertainment introduced Aquamagicaa, a water park situated in Surat, covering an expansive area of 4 acres. The park features an impressive array of 16 water-based rides and attractions for visitors to enjoy.
Amusement Parks Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2024 |
USD 69.27 billion |
|
Revenue forecast in 2032 |
USD 105.83 billion |
|
CAGR |
5.4% from 2024 – 2032 |
|
Base year |
2023 |
|
Historical data |
2019 – 2022 |
|
Forecast period |
2024 – 2032 |
|
Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
|
Segments covered |
By Product Category, By Age, By Revenue Source, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
FAQ's
The amusement parks market report covering key segments are rise type, age, revenue source, and region.
Amusement Parks Market Size Worth $105.83 Billion By 2032
The global amusement parks market is expected to grow at a CAGR of 5.4% during the forecast period.
North America is leading the global market
key driving factors in amusement parks market are Growing Disposable Income
