Amusement Parks Market Size
Fun Parks In 2023, the market was worth $74.2 billion, and it is expected to grow at a rate of more than 5.5% per year from 2024 to 2032. The market is growing since tourism and urbanization are both on the rise around the world. The UNWTO World Tourism Barometer says that by 2023, foreign tourism had dropped to 88% of what it was before the epidemic, with a projected 1.3 billion people coming to the country. By the end of 2024, the economy should be back to normal, with residual demand unlocked, more flights, and a significant resurgence in Asian markets and destinations.
Theme parks are becoming a key component of the travel industry since more people are going throughout the world. Also, since more people are relocating to cities, they are spending more on entertainment there. Many parks are being developed close to city centers so that both inhabitants and tourists may easily get to them. Another reason why amusement parks are getting more popular is that emerging countries with a growing middle class are searching for additional ways to have fun. Finally, indoor entertainment centers are opening up all over the place, which is another big reason why the theme park business is growing. People may enjoy their pleasure all year round, no matter what the weather is like, because these facilities include climate-controlled spaces.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Amusement Parks Market Size in 2023 | USD 74.2 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 5.5% |
| 2032 Value Projection | USD 132.5 Billion |
| Historical Data for | 2021 – 2023 |
| No. of Pages | 275 |
| Tables, Charts & Figures | 330 |
| Segments covered | Park Type, Ride, Age Group, Revenue Source |
| Growth Drivers |
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| Pitfalls & Challenges |
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But the weather and seasons can have an effect on fun locations like amusement parks. excessive weather occurrences like storms, excessive heat, and rain can make it harder to run a business and keep people from coming. Also, attendance at these venues in seasonal areas changes during busy times, thus careful planning and spending money on inside attractions or activities are needed to lessen these effects.
Amusement Parks Market Trends
In the amusement park business, eco-friendly and sustainable approaches could become popular. Theme parks are becoming more eco-friendly and adopting regulations that promote sustainability as people grow more aware of the environment. Some of these traits are using less energy, reducing trash, and recycling; using renewable energy; managing the environment; and building and landscaping with the environment in mind.
Water Kingdom started an environmentally friendly Diwali campaign in November 2023. The campaign wasn't just about having fun; it was also about saving the world and making sure that future generations can enjoy the splendor of Diwali season. Also, parks are looking into ways to teach visitors about protecting the environment and promote eco-friendly behaviors in keeping with people's growing worries about climate change and taking care of the environment.
Amusement Parks Market Analysis
The market is divided into theme parks, water parks, adventure parks, and zoo parks based on the type of product. The theme parks segment made almost $30 billion in sales in 2023. This was because attractions and experiences kept becoming better and better, and new technologies like VR made the whole experience more engaging. The experience economy is growing at a great rate, which makes people want to do fun things that they will remember. This makes theme parks attractive places for families and tourists to visit.
Also, globalization and urbanization have led to more spending on urban leisure, with parks being built near inhabited areas. In addition, their popularity is expanding because they are working with well-known immersive storytelling and IPs. Also, the rebound of global travel and rising disposable incomes will keep the theme parks business growing.
The amusement parks market is divided into three groups based on the type of ridemechanical rides, water rides, and other rides. From 2024 to 2032, the mechanical ride category is expected to develop at a rate of more than 5% per year. People who want fun and adventure come to mechanical rides because they offer exciting, adrenaline-pumping experiences. Ride technology is always becoming better, which has led to new and more interesting experiences that keep people coming back for more. Also, many mechanical rides are family-friendly, which makes them ideal for group outings and family vacations.
Classic rides are also popular because of the nostalgia and tradition that come with them. Themed components make the rides more immersive and improve the overall experience for visitors, which drives up demand for mechanical rides in amusement parks.
In 2023, North America had the most share of the global amusement parks market, with more than 35%. Strong economic growth and high spending rates in the area are driving the market, which lets people enjoy leisure and leisure activities. The region's diversified population and robust tourism infrastructure draw in both local and foreign tourists, which keeps the flow of visitors consistent all year long.
Parks can stay competitive and appeal to a wide range of people by continuing to invest in new attractions and experiences and forming strategic collaborations with well-known Intellectual Property (IP). Also, a good regulatory framework and infrastructure for the sector help it flourish and expand even more.
Also, rapid urbanization and a growing middle class in countries like China, India, and Southeast Asian countries have led to higher disposable incomes and spending on leisure activities. This change in the population makes people want more leisure and recreation options, such amusement parks. Also, the amusement parks market in the area is growing because of government programs that encourage tourist and leisure activities, as well as strong economic growth. In addition, improvements in technology and new ideas for rides and themed experiences make these parks more appealing to both local and foreign tourists.
The growth of mega-projects and entertainment destinations across the Middle East area is being driven by the government's strategic investments in tourism infrastructure and efforts to reduce the region's reliance on oil. Also, more international tourists and big events like expos, conferences, and sporting competitions are driving up demand for amusement parks and other attractions. This makes MEA a prospective growth hub in the industry.
Amusement Parks Market Share
Walt Disney Parks and Resorts Worldwide, Comcast Corporation, and Overseas Chinese Town Limited held significant market share of over 45% revenue share in 2023. These major players in the amusement parks industry deploy various strategies to fortify their positions. Continuous innovation remains key, with increasing investments in sophisticated attractions, technology, and immersive experiences to maintain visitor interest and satisfaction. Strategic alliances with popular IPs or entertainment rights increase brand uptake and appeal to a wider audience.
Adding diversity through the inclusion of themed resorts, hotels, and larger entertainment venues helps expand revenue and keeps tourists staying longer. Besides, aggressive marketing campaigns, loyalty programs, and targeted promotions increase visitor numbers and repeat visits.
Additionally, a focus on sustainability, including environmentally friendly practices and community engagement, creates a positive public outlook and long-term viability. Moreover, the strategic expansion into emerging markets and international tourist destinations ensures geographic diversity and market flexibility.
Amusement Parks Market Companies
Major companies operating in the amusement parks industry are
- Ardent Leisure Group Limited (Now Coast Entertainment Holdings Limited)
- Aspro Parks Inc.
- Cedar Fair Entertainment Company
- Comcast Corporation
- Fantawild Holdings Inc.
- Merlin Entertainments Group
- Overseas Chinese Town Limited
- SeaWorld Parks & Entertainment (now United Parks & Resorts Inc.)
- Six Flags Group
- Walt Disney Parks and Resorts Worldwide
Amusement Parks Industry News
- In October 2023, Walt Disney revealed plans to temporarily lower ticket prices for children at its theme parks as part of a strategy to boost attendance figures. Children's tickets and dining plans will be discounted by fifty percent for guests who buy a four-day, four-night vacation package at any of its resorts.
- In September 2023, Ardent Leisure proposed significant expansion plans for its Dreamworld theme park located on the Gold Coast of Queensland. The application aims to maintain the park's primary focus on tourism while permitting additional compatible land uses in specific areas. These expansions are intended to enhance the site's tourism appeal without detracting from the nearby Coomera town center.
The amusement parks market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) from 2021 to 2032, for the following segments
Market, By Park Type
- Theme parks
- Water parks
- Adventure parks
- Zoo parks
Market, By Ride
- Mechanical ride
- Water ride
- Others
Market, By Age Group
- Up to 18 years
- 19-35 years
- 36-50 years
- 51-65 years
- Above 65 years
Market, By Revenue Source
- Tickets
- Food & beverage
- Merchandise
- Hotel & resorts
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- Russia
- Nordics
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
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