Amusement Park Market (Type of Ride - Mechanical Rides, Water Rides, and Other Rides; Age Limit - Up to 18 Years, 19 to 35 Years, 36 to 50 Years, 51 to 65 Years, and More than 65 Years; Revenue Source - Tickets, Hospitality, Merchandizing, Food & Beverage, and Other Revenue Sources): Global Industry Analysis, Trends, Size, Share and Forecasts to 2032

Amusement Park Market (Type of Ride - Mechanical Rides, Water Rides, and Other Rides; Age Limit - Up to 18 Years, 19 to 35 Years, 36 to 50 Years, 51 to 65 Years, and More than 65 Years; Revenue Source - Tickets, Hospitality, Merchandizing, Food & Beverage, and Other Revenue Sources): Global Industry Analysis, Trends, Size, Share and Forecasts to 2032

Report Code: IGR01419 Category: Media & Entertainment Published: May, 2024

A recent report published by Infinium Global Research on amusement park market provides in-depth analysis of segments and sub-segments in the global as well as regional amusement park market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional amusement park market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global amusement park market.

Market Insight:

The global amusement park market is projected to grow at a CAGR of 9.17% between 2024 and 2032, expanding from USD 59,326.7 million in 2023 to USD 129,896.2 million in 2032.

The amusement park market has experienced significant growth in recent years due to increasing consumer spending on leisure activities and the rising popularity of theme parks. This growth is expected to continue in the coming years due to several factors, including the expansion of existing parks, the introduction of new attractions, and the increasing adoption of technology. One major driver of growth in the amusement park market is the expansion of existing parks. Many parks are adding new attractions, expanding their facilities, and investing in marketing and promotion efforts to attract more visitors. Additionally, many parks are investing in new technologies, such as virtual reality and augmented reality, to enhance the visitor experience and create new opportunities for revenue generation. Another factor contributing to the growth of the amusement park market is the introduction of new attractions. Many parks are introducing new rides and experiences that are designed to appeal to a wider range of visitors, including families with young children and thrill-seekers. These new attractions are helping to attract new visitors and retain existing ones, which is driving revenue growth for many parks. Furthermore, the increasing adoption of technology is also driving growth in the amusement park market. Many parks are investing in new technologies, such as mobile apps and virtual queuing systems, to improve the visitor experience and streamline operations. These technologies are helping parks reduce wait times, improve guest satisfaction, and increase revenue through upselling and cross-selling opportunities.

Research Methodology Brief:

This research has been performed by using excessive primary and secondary research methods. The primary research has been conducted by interviewing several executives and consultants operating in the amusement park and allied industries. The information has also been collected using the most prominent primary method which is interviews. This involves the application of questioners to dig for insights from industry experts. Moreover, the secondary research has helped us validate the research findings through primary research. The analyst has browsed through amusement park publications, entertainment industry reports, and government data to track trends in popular procedures, destination countries, and revenue growth.

The market size has been identified and triangulated using both bottom-up and top-down approaches. In the bottom-up approach, the expenditures of the population on amusement parks in various countries are estimated. This helps accumulate the country's market size, which is then added up to get the regional market size. With the top-down approach, the regional estimated market size is divided among regions and the key amusement park producers. The revenues were distributed among the sub-segments in the amusement park market in the regional market such as North America, Europe, APAC, and the rest of the world. The revenue distribution in the global amusement park market can be estimated by analyzing the revenue generated by different amusement park segments in each region and further in each country under the region. This approach helped us to triangulate the market and estimate the regional as well as country market size of the global amusement park market.

The amusement park market is witnessing a significant growth trend, primarily due to increased disposable income and growing urbanization. As economies progress and incomes rise, individuals and families have more money at their disposal to spend on leisure activities and entertainment, including visits to amusement parks. The diverse range of attractions and experiences offered by amusement parks cater to the growing demand for fun and excitement among people. Urbanization complements this trend by creating hubs of activity and entertainment in urban areas, where amusement parks thrive and attract a large number of visitors from both local populations and tourists. The rise of themed entertainment districts or complexes, featuring multiple entertainment options, including amusement parks, shopping malls, restaurants, and hotels, further drives growth in the amusement park market by catering to diverse interests and preferences. Additionally, increasing disposable income enables consumers to afford other expenses associated with visiting amusement parks, such as transportation, accommodation, food, and merchandise, thereby enhancing the overall economic impact of these parks and generating further growth within the industry. Overall, the increased disposable income and growing urbanization are driving the significant growth of the amusement park market by offering more spending opportunities on leisure activities and creating ready-made customer bases in urban areas.

Theme-based amusement parks have been gaining popularity in recent years, and this trend is expected to continue driving growth in the industry. These parks offer visitors immersive experiences that are centered around a particular theme or narrative, ranging from popular franchises to fantasy worlds or cultural themes. This thematic approach appeals to visitors who are looking for escapism and storytelling, creating a more engaging and memorable experience. Additionally, one of the key factors driving the popularity of theme-based parks is their ability to cater to diverse interests and demographics. By basing their attractions and environments on well-known themes, these parks can attract fans of specific franchises, genres, or cultural phenomena. This targeted approach allows theme-based parks to tap into existing fan bases and generate excitement and anticipation among potential visitors. Moreover, the immersive nature of theme-based parks encourages repeat visits, as guests are eager to explore different aspects of the themed environment and discover new experiences with each visit. Theme-based amusement parks often incorporate elements of technology, storytelling, and design to create fully immersive worlds that transport visitors to another reality. Cutting-edge rides, interactive attractions, and detailed theming combine to create a sense of immersion and wonder, enticing guests to suspend disbelief and fully engage with the park's narrative. This emphasis on immersion enhances the overall guest experience and fosters emotional connections, making visits to theme-based parks more memorable and compelling. The appeal of theme-based parks to a global audience is another factor driving the growth of the market. Many themed franchises have international appeal, allowing theme-based parks to attract visitors from around the world. This global reach expands the potential market for theme-based parks and positions them as destination experiences for travelers seeking unique and memorable leisure experiences. Furthermore, the success of existing theme-based parks has spurred investment and development in this segment of the amusement park market. Theme park operators and developers recognize the value of themed entertainment in attracting visitors and generating revenue, leading to the creation of new theme-based parks and the expansion of existing ones.

However, the high installation, operating, and maintenance costs involved, can impede the growth of the market. One of the primary cost factors is the substantial investment required for the development and construction of amusement park infrastructure, including land acquisition, site preparation, ride installation, and theming. The complexity and scale of modern amusement parks, with their elaborate rides, themed environments, and supporting infrastructure, contribute to these high upfront costs. The operational costs include payroll for a large workforce, utility expenses, marketing and promotional activities, insurance premiums, and administrative overhead. Moreover, amusement parks must invest in regular maintenance and repairs to keep rides and facilities in optimal condition, adhere to safety standards, and prolong the lifespan of attractions. The constant need for upkeep and safety compliance adds to the financial burden. Additionally, seasonal fluctuations in attendance and revenue can create financial challenges for amusement parks. Furthermore, as amusement parks strive to remain competitive and attract visitors, they may need to continually invest in new attractions, technology upgrades, and guest experiences. However, these investments entail additional costs and risks, particularly if new attractions fail to meet expectations or generate sufficient return on the investment. Thus, high installation, operating, and maintenance costs can impede the growth of the market.

Expansion into emerging markets can provide opportunities for the growth of the amusement park market. This can offer opportunities for park operators to tap into new and rapidly growing consumer segments. Emerging markets, characterized by developing economies and rising disposable incomes, represent untapped potential for the leisure and entertainment industry. As these economies continue to grow and urbanize, the demand for recreational activities and entertainment experiences is on the rise, creating a favorable environment for the expansion of amusement parks. One key advantage of expanding into emerging markets is the opportunity to capture a large and growing consumer base. As urbanization accelerates and middle-class populations expand in emerging economies, there is a corresponding increase in discretionary spending on leisure and entertainment. Amusement parks offer a compelling value proposition for consumers seeking affordable and accessible leisure experiences, making them well-positioned to capitalize on this growing demand. Moreover, the lack of established competition in many emerging markets presents an advantage for amusement park operators looking to enter these regions. Unlike mature markets where competition among existing parks can be intense, emerging markets may offer a relatively open playing field with fewer established competitors. This provides an opportunity to establish a strong foothold and capture market share by offering innovative attractions, and experiences. Additionally, expansion into emerging markets allows amusement park operators to diversify their revenue streams and reduce dependence on any single market or region. By establishing a presence in multiple geographic locations, operators can spread risk and mitigate the impact of economic downturns or fluctuations in consumer demand in specific markets. This geographic diversification strategy enhances the resilience and sustainability of amusement park businesses in an increasingly interconnected global economy. Thus, expansion into emerging markets presents opportunities for the growth and development of the amusement park market. By tapping into the growing demand for leisure and entertainment experiences in emerging economies, park operators can access new consumer segments, and diversify revenue streams.

Global Amusement Park Market Size, Industry Report 2032 | IGR

The global amusement park market covers the analysis of regions such as North America, Europe, APAC, and the rest of the world. The North America region accounted for the highest share in the global amusement parks market, generating revenue of USD 30,449.6 million in 2022, and is expected to grow with the highest CAGR of 7.34% over the forecast period 2023-2032. The amusement park industry in North America is a dynamic market that attracts millions of visitors every year. It offers a wide range of attractions, from thrilling roller coasters to exciting water parks, making it one of the most well-known amusement destinations in the world. Visitors enjoy a diverse array of experiences, from the iconic Disneyland Resort in California to the thrilling Universal Studios parks in Florida, making North America an ideal destination for visitors of all ages. According to the Themed Entertainment Association (TEA), the top 20 amusement parks in 2022 received more than 140 million visitors. Additionally, immersive storytelling and technology advancements have transformed the landscape of amusement parks, with innovative rides. Therefore, the amusement park market in North America is growing rapidly owing to factors such as innovation, competition, and an unwavering dedication to creating unforgettable experiences for visitors. As technology continues to advance and consumer expectations increase, the industry is expected to grow further and expand in the upcoming years. In addition, the United States market is witnessing growth attributed to the rising influx of visitors to amusement parks, aligning with the surge in experiential travel, particularly the COVID-19 pandemic. Major theme park entities such as Disney Parks & Resorts, Universal Theme Parks, Legoland, and Genting are observing significant recovery in both footfall and expenditure. Notably, Disney reported a substantial 40% surge in theme park spending per capita in 2022 compared to the preceding year. According to the Themed Entertainment Association's (TEA) annual report for 2022, theme park attendance for North America's key attractions surged by 32%, led by Walt Disney World's Magic Kingdom, which drew approximately 18 million visitors during its 50th-anniversary celebration. Similarly, the Canadian amusement park industry is undergoing a noteworthy upsurge, buoyed by factors like a burgeoning tourism sector, increasing disposable incomes, and a growing preference for immersive entertainment. Prominent destinations such as Canada's Wonderland, La Ronde, and Calaway Park are witnessing a remarkable surge in both visitation and expenditure, driven by tourists who prioritize amusement park visits as part of their Canadian experience. The appeal of Canada's natural beauty and vibrant urban centers further enhances the attractiveness of these parks, attracting diverse visitors from across the globe. According to Infinium Global Research, attendance figures have steadily increased from approximately 15.12 million visitors in 2022 to 16.02 million in 2023. Continued investments in attractions, advanced technologies, and immersive experiences are expected to further bolster the growth of Canada's amusement park sector, establishing it as a cornerstone of the country's leisure and entertainment landscape.

Report Scope of the Amusement Park Market:

Report Coverage Details
Market Size in 2023 USD 59,326.7 Million
Market Size by 2032 USD 129,896.2 Million
Growth Rate from 2024 to 2032 CAGR of 9.17%
Largest Market North America
No. of Pages 255
Market Drivers
  • Increased disposable income and growing urbanization are driving the growth of the amusement park market.

  • The rising attention toward theme-based amusement parks is expected to stimulate the growth of the market.

Market Segmentation By Type of Ride, By Age Limit, and By Revenue Source
Regional Scope North America, Europe, Asia Pacific, and RoW

Segment Covered

The report on global amusement park market covers segments such as type of ride, age limits, and revenue source. On the basis of type of ride, the sub-markets include mechanical rides, water rides, and other rides. On the basis of age limits, the sub-markets include up to 18 years, 19 to 35 years, 36 to 50 years, 51 to 65 years, and more than 65 years. On the basis of revenue source, the sub-markets include tickets, hospitality, merchandizing, food & beverage, and other revenue sources.

Companies Profiled:

The report provides profiles of the companies in the market such as Cedar Fair Entertainment Company, Disney, Universal Studios, Chimelong Group Co., Ltd., Fantawild Holdings Inc., Hershey Entertainment & Resorts, IMG Worlds of Adventure, Merlin Entertainments, SeaWorld Parks & Entertainment, Inc., and Parques Reunidos.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the amusement park market. Moreover, the study highlights current market trends and provides forecasts from 2024-2032. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.

Frequently Asked Questions (FAQ's)

The global amusement park market was valued at USD 59,326.7 Million in 2023.
It is likely to grow at a CAGR of 9.17% during the forecast period 2024-2032.
The global amusement park market is estimated to reach USD 129,896.2 Million by the end of 2032.
North America is anticipated to exhibit high demand for amusement park market during the forecast period.
Cedar Fair Entertainment Company, Disney, Universal Studios, Chimelong Group Co., Ltd., Fantawild Holdings Inc., Hershey Entertainment & Resorts, IMG Worlds of Adventure, Merlin Entertainments, SeaWorld Parks & Entertainment, Inc., and Parques Reunidos.

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