Camping and Caravanning Market Gains a Boost from Young Adults; RV Camping Generates Significant Revenue, Concludes Future Market Insights in a New Study

Leading players of camping and caravanning market are targeting young-adults to market their camping packages. Furthermore, prominent players are significantly utilizing social media to reach their target demography.

DUBAI, UAE / ACCESSWIRE / March 17, 2020 / The global camping and caravanning market will grow at an impressive CAGR of 7.6% during the forecast period (2019 – 2029). Growing popularity among youth, coupled with favorable initiatives by regional governments is playing catalyst in boosting the market.

Moreover, increasing safety & security norms in major regions are enabling camping enthusiasts to travel and is improving scope of tourism, further propelling the growth of global camping and caravanning market.

Global Camping and Caravanning Market – Key Takeaways

  • Owing to security concerns, state and national park campgrounds will remain the most popular destination type.
  • Car camping contributes the most to revenue while RV camping witnesses a tremendous growth at CAGR of 11.2%.
  • Mid-age group (25-44) continues to stay forefront in the camper-demography due to earning capacity.
  • Camping and caravanning activities to gain significant traction from the younger age group (18 – 24), which is growing in market demography.
  • Europe continues being the leading camping and caravanning regional market while North America remains the second most lucrative market.

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Global Camping and Caravanning Market – Key Driving Factors

  • Governments of developing countries such as India, China, Philippines, and Thailand are permitting use of caravans, and are significantly investing in developing their heritage, camping sites and the associated infrastructure.
  • East Asian region would thus witness an upsurge in the camping and caravanning activities, thereby fueling the market growth.
  • Accompanied by technology-driven customer services and discount offers, privately owned camping grounds will witness higher incoming of campers.

Global Camping and Caravanning Market – Key Constraint

  • The unavailability of quality camping spots during high seasonal demand is a major issue.

Competition Landscape

The key players operating in the camping and caravanning market are ACCOR SA, Internacional Palamos, Radisson Hotel Group, Haven Leisure Limited, Hilton Worldwide Holdings Inc., TENTRR, HIPcamp, Vacansoliel, Selectcamp, ACSI Holding BV, and others. The leading players are significantly exploring diverse camping sites as people’s interest in the regions grow. Furthermore, companies are focusing on building an attrave digital presence to meet customer expectations. Besides, companies are introducing loyalty programs to provide personalized experience and exclusive offers for premium members.

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About the Report

This study offers readers a comprehensive market forecast of the camping and caravanning market. Global, regional and country-level analysis of the latest industry trends impacting the camping and caravanning market is covered in this Future Market Insight’s(FMI) study. The report offers compelling insights on specialty meat ingredient market on the basis of destination type (state or national park campgrounds, privately owned campgrounds, public or privately owned land other than a campground backcountry, national forest or wilderness areas, parking lots, others), camper type (Car Camping, RV Camping, Backpacking, and All), consumer orientation (make, female and kids), age (6-12 yrs, 13-17 yrs, 18-24 yrs, 25-44 yrs, 45+ yrs), across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceana, and MEA).

About Future Market Insights

Expert analysis, actionable insights, and strategic recommendations of the veteran research team at FMI helps clients from across the globe with their unique business intelligence requirements. With a repository of over a thousand reports and 1 million+ data points, the team has scrutinized the Travel & Tourism sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

Contact:

Mr. Abhishek Budholiya
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai, United Arab Emirates
MARKET ACCESS DMCC Initiative
Market Report: https://www.futuremarketinsights.com/reports/camping-and-caravanning-market
Press Release Source: https://www.futuremarketinsights.com/press-release/camping-and-caravanning-market

SOURCE: Future Market Insights

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