Recreation Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Recreation refers to all the activities that people choose to refresh their minds and bodies and make their free time more enjoyable and interesting. Recreation improves concentration skills and the ability to manage anxiety and stress. Enhanced social skills develop skills such as cooperation and teamwork, and a great way to have fun, meet new people and develop friendships.

Sizing and Forecast
The recreation market size has grown strongly in recent years. It will grow from $1624.5 billion in 2023 to $1729.21 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%.  The  growth in the historic period can be attributed to leisure time availability, economic conditions, demographic trends, urbanization, government policies.

The recreation market size is expected to see strong growth in the next few years. It will grow to $2188.18 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.  The growth in the forecast period can be attributed to virtual and augmented reality experiences, wellness and mindfulness, sustainable recreation, personalized leisure experiences, inclusive recreation. Major trends in the forecast period include outdoor adventure tourism, experiential tourism, digital detox retreats, culinary and food tourism, community-based recreation programs.

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Segmentation & Regional Insights
The recreation market covered in this report is segmented –
1) By Type: Amusements, Arts, Sports
2) By Age Group: Aged 35 and Younger, Aged 35-54, Aged 55 and Older
3) By Revenue Source: Media Rights, Merchandising, Tickets and Sponsorship

Subsegments Covered: Amusement Parks, Gambling, Museums, Historical Sites, Zoos, And Parks, Independent Artists And Performing Art Companies, Sports And Arts Promoters, Spectator Sports, Participatory Sports

Asia-Pacific was the largest region in the recreation market in 2023. Eastern Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the recreation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The recreation market growth is aided by stable economic growth forecasted in many developed and developing countries. For instance, according to International Monetary Fund (IMF), a US-based financial agency, China’s gross domestic product (GDP) grew from $17.75 trillion in 2021 to $18.1 trillion in 2022. In addition, the emerging markets and developing economies registered a growth of 3.9% in 2020, which increased to 6.1% in 2022. Stable economic growth is expected in end-user markets, thereby driving the market during the 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.

Key Industry Players
Major companies operating in the recreation market report are The Hong Kong Jockey Club, The Walt Disney Company, China Sports Lottery, Cheil Jedang Corp., China Welfare Lottery, Sociedad Estatal Loterías y Apuestas del Estado S.A., Flutter Entertainment plc, Cinemark Holdings Inc., Tabcorp Holdings Ltd., Cineworld Group plc, Compagnie du Mont-Blanc S.A., Compagnie des Alpes S.A., Oriental Land Company Ltd., Hyland Ranch Inc., Cinplex Inc., Jelly Belly Candy Co., Gym Group plc, City Sports & Recreation plc, Club de Futbol Intercity SAD, Guangzhou Jinyi Media Corp. A, Guangdong Jinma Entertainment Corp. Ltd., Grupo Sports World S.A.B. de C.V., Creative China Holdings Ltd., China Tangshang Holdings Ltd., Herschend Family Entertainment Corp., Hall of Fame Resort & Entertainment Co., Guild eSports plc, Country Club Hospitality & Holidays Ltd., Maruhan Corp., City Pulse Multiplex Ltd.

The recreation market report table of contents includes:
1. Executive Summary

2. Recreation Market Characteristics
3. Recreation Product/Service Analysis -Product/Service Examples
4. Recreation Market Trends And Strategies
5. Recreation Market – Macro Economic Scenario

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68. Global Recreation Market Competitive Benchmarking
69. Global Recreation Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Recreation Market
71. Recreation Market Future Outlook and Potential Analysis
72. Appendix

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