Amusement Parks Market Size - By Park Type (Theme Parks, Water Parks, Adventure Parks, Zoo Parks), By Ride (Mechanical Rides, Water Rides), By Revenue Source (Tickets, Food & Beverage, Merchandise, Hotel & Resorts), By Age Group & Forecast, 2024 – 2032

Amusement Parks Market Size - By Park Type (Theme Parks, Water Parks, Adventure Parks, Zoo Parks), By Ride (Mechanical Rides, Water Rides), By Revenue Source (Tickets, Food & Beverage, Merchandise, Hotel & Resorts), By Age Group & Forecast, 2024 – 2032

Amusement Parks Market Size

Amusement Parks Market size was valued at USD 74.2 billion in 2023 and is estimated to register a CAGR of over 5.5% between 2024 and 2032. The market growth is attributed to flourishing global tourism and urbanization. According to the UNWTO World Tourism Barometer, in 2023, international tourism ended at 88% of pre-pandemic levels, generating an estimated 1.3 billion international arrivals. Full recovery is expected by the end of 2024, including unlocking residual demand, increased air connectivity, and a strong recovery in Asian markets and destinations.

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As global tourism continues to grow, theme parks are becoming an integral part of the travel ecosystem. In addition, urbanization has led to increased population and expenditure on urban leisure. Many parks are placed very close to downtown to capitalize on this trend, attracting locals and tourists. Additionally, emerging markets with a growing middle class are witnessing a rise in the demand for entertainment options, further driving the growth of the amusement parks market. Additionally, the proliferation of indoor entertainment centers stands as a key driver propelling the market forward. These centers offer a controlled environment that mitigates the impact of seasonal variability, making entertainment accessible year-round, irrespective of weather conditions.

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However, recreational places such as amusement parks are often affected by seasons and weather. Extreme weather events such as extreme heat, rain, and storms can reduce visitor numbers and operational challenges. Additionally, attendance at these places in seasonal neighborhoods fluctuates during peak periods, requiring careful planning and investment in indoor attractions or events to mitigate these effects.

Amusement Parks Market Trends

Sustainability and eco-friendly practices could be an emerging trend in the amusement parks industry. As consumers become more environmentally conscious, theme parks are adopting sustainability policies and environmentally friendly practices. These characteristics include things like energy efficient operations, waste reduction and recycling systems, use of renewable energy, environmental management systems, and eco-conscious construction and landscaping.

In November 2023, Water Kingdom rolled out an eco-friendly Diwali Campaign. The campaign was not just limited to fun and excitement but also committed to protecting the planet and ensuring that future generations can continue to enjoy the beauty of Diwali season. Additionally, parks are exploring ways to educate visitors about environmental protection and encourage environmentally friendly practices in line with broader public concerns about climate change and environmental stewardship.

Amusement Parks Market Analysis

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Based on product, the market is segmented into theme parks, water parks, adventure parks, and zoo parks. The theme parks segment dominated around USD 30 billion revenue in 2023, owing to continuous innovation in attractions and experiences that captivate visitors, in line with cutting-edge technology like VR enhancing overall engagement. The commendable growth of the experience economy further stimulates the demand for memorable leisure activities, positioning theme parks as alluring destinations for tourists and families.

Additionally, globalization and urbanization have fueled the expenditure on urban leisure, with parks strategically located near populated areas. Moreover, partnerships with popular immersive storytelling and IPs contribute to their growing appeal. Furthermore, the recovery of global tourism, coupled with increasing disposable incomes, ensures sustained growth in the theme parks industry.

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Based on ride, the amusement parks market is categorized into mechanical ride, water, and others. The mechanical ride segment is projected to grow at a CAGR of over 5% from 2024 to 2032. Mechanical rides offer adrenaline-pumping, thrilling experiences, which attract visitors who seek entertainment and adventure. Constant innovation in ride technology has helped introduce new and more exciting experiences, enticing repeat visits and maintaining visitor interest. Besides, the family-friendly nature of many mechanical rides appeals to a broad demographic, making them popular for group outings and family vacations.

Moreover, the nostalgia and tradition associated with classic rides ensure their enduring popularity while the integration of themed elements adds immersive storytelling, enhancing the overall visitor experience and propelling demand for mechanical rides in amusement parks.

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North America dominated the global amusement parks market with a major share of over 35% in 2023. The market in the region is driven by strong economic growth and high spending rates, enabling consumers to indulge in leisure and leisure activities. The diverse population and strong tourism infrastructure in the region attract both domestic and international tourists, which help maintain a steady flow of arrivals throughout the year.

Moreover, continued investment in new attractions and experiences, in line with strategic partnerships with popular Intellectual Property (IP), ensures that parks continue being competitive and appeal to many audiences. In addition, a favorable regulatory framework and infrastructure for the sector support further expansion and growth in the sector.

Additionally, rapid urbanization and a burgeoning middle class across countries like China, India, and Southeast Asian nations have led to increased disposable incomes and leisure spending. This demographic shift fuels the demand for entertainment and recreation options, including amusement parks. Additionally, government initiatives promoting tourism and leisure activities, coupled with robust economic growth, further drive the expansion of the amusement parks market in the region. Moreover, advancements in technology and innovation in ride attractions and themed experiences contribute to enhancing the appeal of these parks, attracting both domestic and international visitors.

Strategic government investments in tourism infrastructure and initiatives aimed at diversifying economies away from oil dependency are driving the development of mega-projects and entertainment destinations across the Middle East region. Furthermore, a rise in international tourism coupled with the hosting of major events such as expos, conferences, and sporting tournaments further stimulate the demand for amusement parks and related attractions, positioning MEA as a promising growth hub in the market.

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

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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