The global recreation market size is expected to grow from $0.96 trillion in 2021 to $1.49 trillion in 2022 at a compound annual growth rate (CAGR) of 54.7%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The recreation market is expected to reach $2.56 trillion in 2026 at a CAGR of 14.5%.
What is the Global Recreation Market?
The recreation market consists of sales of the use of recreational facilities, and recreational services and related goods by entities (organizations, sole traders and partnerships) that provide recreational services. Recreational activities include taking part in sporting activities and visiting museums, historical sites, zoos and parks and also witnessing spectator sports and events. Gambling except casino hotels can also be considered to be part of the recreation market.
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What drives the Global Recreation Market?
The recreation market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) stated that the global GDP growth was 3.2% in 2019 and 3.5% in 2020. Recovering commodity prices further expected to aid the recreation market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. For instance, India's GDP grew by 7.2%, whereas China registered GDP growth of 6.0% in 2020. Stable economic growth is expected to in end user markets, thereby driving the market during forecast period. This continued economic growth is expected to increase investments in the end user markets and be a driver of the recreation market as greater affluence allows consumers to visit recreation centers.
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Global Recreation Market Segments
The global recreation market is segmented:
By Type: Amusements, Arts, Sports
By Age Group: Aged 35 and Younger, Aged 35-54, Aged 55 and Older
By Revenue Source: Media Rights, Merchandising, Tickets and Sponsorship
By Geography: The regions covered in the recreation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Recreation Global Market Report 2022provides market size and growth forecasts for the global recreation market, global recreation market share, recreation market segments and geographies, recreation market competitive landscape including leading competitors’ revenues, profiles and market shares. The recreation market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Recreation Industry Playersinclude hina Sports Lottery, China Welfare Lottery, The Walt Disney Company, Sociedad Estatal Loterías y Apuestas del Estado S.A., Maruhan, Flutter Entertainment plc, The Hong Kong Jockey Club, Tabcorp Holdings Ltd., CJ Corp and Oriental Land Company Ltd. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
