Sep 07, 2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Amusement Parks Market.
It was estimated prior to this unanticipated outbreak that the Amusement Parks Market was expected to grow at a CAGR of 6.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Amusement parks consists of sales of amusement parks and arcades entertainment and related goods by entities which operate amusement parks. The amusement parks market comprises of sales of amusement arcades such as family run centres, amusement device parlours, and pinball arcades. Moreover, it includes the sales of entry fees and ticket sales for games, merchandise goods, rides, hotels, food & beverages, and resorts.
Innovative rides, merchandise in amusement parks, accommodation facilities are gaining popularity among visitors of all age groups. Consequently, there is also a surge in the number of adults and children visiting amusement parks, thus widening the side of the target audience. Also, the sale of merchandise and food & beverages through retail outlets and restaurants located inside the park is expected to propel the market growth. In addition, the rising urban population, increasing disposable income, and growing international tourism further bolster industry growth.
By source, the amusement parks market has been classified into tickets, food & beverages, merchandise, hotels/resorts, and others. Under these, the tickets segment garnered the largest market share in 2020 and is likely to register a healthy CAGR in the coming years. This is mainly attributed to a rising number of amusement parks with games and activities which require admission tickets and entry tickets, thus bolsters the segment growth.
By region, the North American market witnessed the highest market share in 2020 and is projected to grow at a steady CAGR during the review period. This is mainly attributed to the offers offered by the regional park team in terms of the full program of shows and festivals all through the year which further drives the regional demand for amusement parks. Also, The maximum number of amusement parks presence in the region is primarily engaged in spreading the fun for thrill-seekers through jaw-dropping thrill rides, spider-man motion-simulating rides, and dizzying roller coasters.
Key Players:
Key players operating in the global Amusement Parks market are-
- Ardent Leisure Group (Australia),
- Cedar Fair Entertainment Company (The U.S),
- Chimelong Group Co. Ltd (China),
- Comcast Corporation (The U.S),
- Fantawild Group (China),
- Ilyas & Mustafa Galadari Group (IMG)
- Theme Park Association (UAE),
- Merlin Entertainments (UK),
- SeaWorld Parks & Entertainment, Inc. (The U.S),
- Six Flags Entertainment Corporation (The U.S), and
- Walt Disney Company (The U.S).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Amusement Parks analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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