어뮤즈먼트 및 테마 파크 시장 : 테마 파크, 어뮤즈먼트 파크, 지역별(2024-2031년)

Amusement and Theme Parks Market Valuation - 2024-2031

Technological advancements and rising consumer desire for immersive experiences, such as augmented and virtual reality attractions, are driving the amusement parks and theme parks market, which is expected to rise significantly. According to the analyst from Verified Market Reseasrch, the amusement and theme parks market is estimated to reach a valuation o fUSD 80.58 Billion over the forecast subjugating around USD 54.09 Billion valued in 2024.

Due to improvements in ride technology, improved guest experiences, and a rise in family travel, the amusement and theme park market is growing and is a fascinating industry for both tourists and investors. It enables the market to grow at a CAGR of 5.11% from 2024 to 2031.

Amusement and Theme Parks Market: Definition/ Overview

An amusement park is a recreational area with a range of activities, such as rides, games, and entertainment events, all meant to offer visitors fun and leisure. A theme park is a type of amusement park that focuses its attractions and structures on a single topic, frequently including various themed zones to improve the entire experience. These parks provide a variety of purposes, including family entertainment, educational experiences, and cultural exhibitions, making them popular locations for individuals and families seeking enjoyable and memorable trips. They also play an important role in tourism, helping to boost local economies and providing a variety of activities for people of all ages and interests.

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What are the Key Factors Propelling the Growth of the Amusement and Theme Parks Market?

Rising worldwide disposable incomes are pushing up spending on entertainment and leisure activities, such as theme parks. Despite the pandemic-induced economic downturn, the World Bank estimates that global GDP per capita increased from $10,925 in 2015 to $11,433 in 2021. According to the US Bureau of Labor Statistics, average consumer expenditure on entertainment increased by 5.7% between 2020 and 2021, reaching $3,568 per home annually. This increased economic capability is driving attendance and revenue growth in the amusement and theme park market.

The recovering and rising tourism economy is a major driver of the amusement and theme park market. The United Nations World Tourism Organization (UNWTO) estimated that worldwide tourist visits reached 900 million in 2022, more than double the amount recorded in 2021. The organization expects foreign tourism to reach 80% to 95% of pre-pandemic levels by 2023. The return of worldwide travel is increasing theme park attendance, particularly in regions noted for their attractions.

Furthermore, the integration of cutting-edge technologies such as virtual reality (VR), augmented reality (AR), and artificial intelligence (AI) improves theme park experiences and attracts more people. According to the International Association of Amusement Parks and Attractions (IAAPA), 65% of theme park operators want to invest in new rides and attractions with modern technologies by 2023, hence driving market innovation and attendance.

How Do Weather and Seasonal Dependency Impact the Amusement and Theme Parks Market?

One key constraint is weather and seasonal dependencies. Attendance at amusement parks fluctuates depending on the weather and seasonal trends. Adverse weather, such as rain or excessive temperatures, deters visitors, resulting in lower profits during peak season. Also, parks that rely primarily on outdoor attractions struggle to maintain steady visitor counts throughout the year, which has an impact on overall profitability and operations planning.

For amusement and theme parks to guarantee a secure and pleasurable visit for visitors, significant investments in maintenance, personnel, and safety precautions are needed. These continuing expenses put a burden on finances, particularly during periods of low attendance. Furthermore, the necessity for ongoing innovation and upgrading to attractions drives up expenses, making it difficult for some parks to remain competitive in a continuously changing market.

Category-Wise Acumens

What Drivers Support the Highest Growth of Movie and TV Show-based Parks?

According to VMR analysis, the movie and TV show-based park segment is estimated to dominate during the forecast period. The deep emotional bond that viewers have with well-known movies and TV series is one factor contributing to this domination. These parks make use of well-known characters and storylines to create immersive experiences that are extremely popular among visitors. This emotional engagement not only attracts visitors but also drives them to return since they want to relive their favorite moments in a physical context.

Strategic agreements with large entertainment properties are also important drivers. Collaborations with well-known studios and companies enable parks to integrate prominent intellectual assets into their attractions. This not only increases the thematic appeal but also broadens the audience base, attracting enthusiasts who would not normally frequent amusement parks. These collaborations frequently result in unique attractions that generate tremendous publicity and marketing potential.

Furthermore, the growing popularity of immersive entertainment is critical to the success of theme parks based on films and television shows. As consumers seek out unique and memorable experiences, these parks capitalize on this trend by providing attractions that blend cutting-edge technology, storytelling, and interactivity. This emphasis on generating unforgettable experiences is consistent with visitors' changing preferences, strengthening the market position of movie and TV show-based theme parks.

What are the Main Factors Driving Traditional Amusement Parks in the Market?

The traditional amusement park segment is estimated to dominate the amusement and theme park market during the forecast period. The nostalgic element linked with classic amusement parks is a significant contributor to its supremacy. These parks often feature classic rides and attractions that elicit good memories from visitors, making them popular with families and individuals looking to recreate their childhood experiences. This emotional connection drives repeat visits and draws a diverse audience, assuring long-term appeal and market presence.

The variety of attractions provided by conventional amusement parks is another important factor. These parks offer a diverse choice of rides, games, and entertainment opportunities for people of all ages, from thrilling roller coasters to calm rides for young children. This variety improves the entire tourist experience, making conventional amusement parks a top choice for family trips and group activities.

Furthermore, traditional amusement parks have a competitive advantage due to their strategic position and accessibility. Many of these parks are located near major urban areas, making them accessible to a large population. Their closeness to heavily inhabited areas not only enhances foot traffic but also enables effective marketing and promotional initiatives, further strengthening their market position.

Country/Region-wise Acumens

What are the Factors Contributing to the Dominance of North America in the Market?

According to VMR analyst, North America is estimated to dominate the amusement and theme parks market during the forecast period. Many of the largest and most popular theme parks in the world are located in North America, primarily in the United States. According to the Themed Entertainment Association (TEA) and AECOM's 2019 Theme Index and Museum Index, six of the world's top ten theme park companies are based in North America. These organizations welcomed over 341 million visits in 2019. The Walt Disney Attractions alone drew 157.3 million visitors worldwide, with a sizable share coming from their North American sites. This high concentration of important attractions ensures consistent attendance and revenue for the region.

Furthermore, North American consumers, particularly in the United States, spend a considerable share of their disposable income on entertainment and leisure activities. According to the US Bureau of Labor Statistics, despite the ongoing pandemic, the average American household would spend $3,568 on entertainment in 2021, a 5.7% rise over 2020. Around $770 was spent on fees and admissions, which included theme park tickets. This healthy consumer spending habit helps to sustain the expansion and innovation of North America's amusement and theme park market.

What are the Elements Supporting Asia Pacific's Growth in the Market?

The Asia Pacific region is estimated to exhibit the highest growth during the forecast period. The Asia-Pacific region is enjoying strong economic expansion, resulting in a rising middle class with more disposable income for leisure activities. According to the Asian Development Bank, the region's GDP is expected to increase by 4.8% in 2023 and 4.9% in 2024. According to the World Economic Forum, by 2030, Asia will account for 66% of the global middle-class population, or over 3.5 billion people. The economic boom is pushing up spending on entertainment, particularly theme parks. According to the Ministry of Culture and Tourism, China's domestic tourist earnings will reach 2.92 trillion yuan (approximately USD 412 Billion) in 2022, a recovery of 56.4% from 2019.

Furthermore, many Asian governments are actively encouraging the tourism and entertainment industries, including the creation of theme parks. For example, the Indian government's "Swadesh Darshan Scheme" aims to build theme-based tourist circuits, with the first phase budgeted at 5,500 crore rupees (about USD 733 Million). In Japan, the government's "Tourism Vision to Support the Future of Japan" aims to attract 60 million foreign visitors yearly by 2030. These policies encourage investment in new theme parks and the growth of existing ones. According to the China Tourism Academy, the country expects to create 20 new theme parks by 2025, with a total investment of more than 100 billion yuan (USD 14.2 Billion).

Competitive Landscape

The amusement and theme parks market is fiercely competitive, with industry participants utilizing a variety of techniques to obtain a competitive advantage. Continuous innovation in attractions, technology, and immersive experiences is critical to keeping visitors interested and satisfied.

Some of the prominent players operating in the amusement and theme parks market include:

Walt Disney Company

Comcast Corporation

Merlin Entertainments plc

Six Flags Entertainment Corporation

SeaWorld Entertainment, Inc.

Cedar Fair, L.P.

Parques Reunidos, S.A.

Fantahouses Holding AS

Herschend Family Entertainment

Efteling

Latest Developments

In October 2023, Walt Disney announced intentions to temporarily decrease ticket rates for youngsters at its theme parks to increase attendance. Guests booking a four-day, four-night vacation package at any resort will receive a 50% discount on children's tickets and eating plans.

TABLE OF CONTENTS

1. Introduction

• Market Definition
• Market Segmentation
• Research Methodology

2. Executive Summary

• Key Findings
• Market Overview
• Market Highlights

3. Market Overview

• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter's Five Forces Analysis

4. Amusement And Theme Parks Market, By Theme Parks

• Fantasy and Adventure Parks
• Movie and TV Show-based Parks
• Historical and Cultural Parks

5. Amusement And Theme Parks Market, By Amusement Parks

• Traditional Amusement Parks
• Water Parks
• Family Entertainment Centers (FECs)

6. Amusement And Theme Parks Market, By Regional Parks

• Local and Regional Parks
• Resort and Destination Parks

7. Regional Analysis

• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Italy
• Asia-Pacific
• China
• Japan
• India
• Australia
• Latin America
• Brazil
• Argentina
• Chile
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE

8. Market Dynamics

• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market

9. Competitive Landscape

• Key Players
• Market Share Analysis

10. Company Profiles

• Walt Disney Company
• Comcast Corporation
• Merlin Entertainments plc
• Six Flags Entertainment Corporation
• SeaWorld Entertainment, Inc.
• Cedar Fair, L.P.
• Parques Reunidos, S.A.
• Fantahouses Holding AS
• Herschend Family Entertainment
• Efteling

11. Market Outlook and Opportunities

• Emerging Technologies
• Future Market Trends
• Investment Opportunities

12. Appendix

• List of Abbreviations
• Sources and References