Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Amusement Parks Market size was valued at USD 78.46 billion in 2024 and is set to exceed USD 161.3 billion by 2037, registering over 5.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of amusement parks is evaluated at USD 82.04 billion.
The global tourism has risen in recent years, which is expected to significantly boost the amusement parks market. According to the World Travel & Tourism Council (WTTC), travel and tourism will have a record-breaking year in 2024 and will contribute a staggering USD 11.1 trillion to global GDP. The increasing consumer demand for unique and immersive experiences has fueled due to the need for novel entertainment options and the influence of social media. Additionally, investments in advanced technologies, such as virtual reality (VR) and interactive rides, and efforts to create themed environments also contribute to amusement parks market growth.
Amusement Parks Market: Growth Drivers and Challenges
Growth Drivers
- Increasing integration of the Internet of Things (IoT) - IoT enhances the guest experience by enabling features like smart ticketing, personalized attractions, and real-time ride management. It also allows better operational efficiency through data collection and analysis, optimizing ride maintenance, and improving crowd management. These advancements make parks more attractive to visitors and help operators streamline their operations, thus contributing to amusement parks market growth.
- Growing popularity of influencer marketing - Influencers create engaging content such as ride reviews and park tours, which can appear more authentic and relatable than traditional advertising. According to estimates, about 69% of consumers trust influencer recommendations. Additionally, by leveraging influencers to enhance visibility, engage targeted audiences, create authentic content, and promote exclusive offers, amusement parks can effectively drive customer acquisition and boost their amusement parks market presence. A staggering 85% of marketers believe influencer marketing helps them with acquiring new customers.
- Surging emphasis on sustainability - To improve their environmental standards, amusement parks worldwide are adopting sustainable practices. Composting food waste, responsibly sourcing food, and minimizing or eliminating single-use plastics are some of the extensive sustainability practices that sustainable amusement parks are implementing. For instance, Six Flags has considerably reduced its carbon footprint by utilizing solar energy to power rides through an effort that captures solar radiation.
Challenges
- Exorbitant operational and initial costs - Building a new amusement park requires substantial investment in land, construction, infrastructure, rides, and attractions. These costs can deter potential investors and limit the number of new parks being developed. For instance, the cost of developing a mega theme park like Universal Studios or Disney can cost USD 2 billion to USD 4 billion, including expenses for themed areas, technology, and landscaping.
- Seasonal variations - Amusement parks often experience peaks in attendance during holidays, summer vacations, and weekends, while facing lower attendance during off-peak seasons and weekdays. This fluctuation can impact revenue consistency.
Amusement Parks Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
5.7% |
|
Base Year Market Size (2024) |
USD 78.46 billion |
|
Forecast Year Market Size (2037) |
USD 161.3 billion |
|
Regional Scope |
|
Amusement Parks Segmentation
Rides (Mechanical, Water)
Mechanical segment is poised to hold amusement parks market share of over 84.3% by the end of 2037. Mechanical rides segment drives market growth by offering innovative, thrilling, and unique experiences that attract a wide range of visitors, enhance park competitiveness, and contribute significantly to revenue generation. Innovations such as magnetic launch systems, immersive VR integrations, and high-speed coasters attract thrill-seekers and drive park attendance.
Moreover, modern safety systems, including sophisticated restraint mechanisms and real-time monitoring adhering to industry safety rules, build trust and ensure safe experiences, contributing to higher visitor numbers. For instance, throughout North America, approximately 370 million people enjoy 1.7 billion rides at 400 amusement parks annually. Fortunately, the International Association of Amusement Parks and Attractions (IAAPA) places a high focus on enforcing industry safety rules; only one in every 18 million individuals who ride these rides at a U.S. amusement parks is at risk of a major injury.
Age (Up to 18 years, 19 to 35 years, 36 to 50 years, 51 to 65 years, More than 65 years)
In amusement parks market, 19 to 35 years segment is expected to account for revenue share of around 32.9% by 2037. The individuals in this age range often seek out thrilling, high-intensity rides and unique experiences. They frequently engage in social activities with friends or peers. Amusement parks are popular destinations for group outings, social events, and celebrations. Moreover, this age group is highly active on social media platforms, where they share experiences and seek recommendations. As per 2023 estimates, 48.8% and 26.1% theme park visitors belong to age groups 18-24 years and 25-34 years in the United States.
Revenue Source (Ticket, Food & beverage, Merchandise, Hotels/Resorts)
The ticket segment in amusement parks market is estimated to garner a significant revenue share. The strategic ticketing practices, including dynamic pricing, season passes, special events, and online sales, are essential for maximizing revenue and driving growth in the market. Moreover, parks often collaborate with travel agencies and tour operators to create packages that include park tickets. These packages can attract international visitors and boost ticket sales.
Our in-depth analysis of the global amusement parks market includes the following segments:
|
Age |
|
|
Revenue Source |
|
|
Rides |
|
|
Park Type |
|
Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.
Customize this ReportAmusement Parks Industry - Regional Synopsis
North America Market Statistics
North America industry is likely to account for largest revenue share of 42% by 2037. The industry's expansion is largely driven by the huge presence of amusement parks and the increasing number of visitors. Over 140 million people visited the top 20 theme parks in North America in 2022. Additionally, it is predicted that more than 435 million individuals will visit theme parks and attractions in North America in 2025.
In the U.S. staycations have grown in popularity over the past year, which has increased the attendance at nearby fairs and amusement parks. People's time constraints have led to a rise in the popularity of unplanned leisure getaways in their cities, without any anxiety and trouble of traveling.
Over the last two decades, people in Canada have, on average, committed 5% of their yearly household budget to cultural and recreational pursuits, which has led to the expansion of theme parks. Moreover, Wonderland in Canada with over 200 attractions, including a 20-acre water park named Splash Works, play areas, and 18 coasters has gained significant acclaim as one of the world's best theme parks to visit in 2023.
APAC Market Analysis
The amusement parks market expansion in Asia Pacific has been experiencing robust growth, driven by increasing disposable incomes and urbanization. According to the World Bank, with an average yearly urbanization rate of 3%, East Asia and the Pacific are the regions that are urbanizing the fastest in the world. Subsequently, an increasing number of people are looking for leisure options near home, which is likely to create a huge demand for accessible, secure, and pleasurable public spaces including amusement parks. In addition, recent years have seen a rise in the popularity of theme parks led by the growing demand for family-friendly entertainment alternatives outside of homes.
China's amusement parks are hoping for rapid expansion in response to the growing demand for thrilling rides and interesting travel experiences. Theme Park visits are becoming a common urban leisure activity in China, as the country is home to some of the world's best theme parks, such as Shanghai Disneyland and Hengqin's Chimelong Ocean Kingdom.
Japan has several theme parks and amusement parks, which are popular with tourists of all ages due to their inventive rides, lodging possibilities, and retail selections. In December 2023, the sales of amusement parks and theme parks in Japan amounted to approximately USD 596.4 million.
The amusement parks market in South Korea is characterized by a mix of established and emerging key players, with significant opportunities for growth driven by economic developments, tourism, and evolving consumer preferences. Known for its family-oriented attractions and seasonal events, Seoul Land offers a variety of rides and theme areas, catering to all age groups.
Companies Dominating the Amusement Parks Landscape
- Warner Media, LLC.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Cedar Fair Entertainment Company
- The Walt Disney Company
- Comcast Corporation
- Chimelong Group Co., Ltd
- Ardent Leisure Group Limited.
- Fantawild Holdings Inc.
- IMG Worlds of Adventure
- Merlin Entertainments
- SeaWorld Parks & Entertainment, Inc.
The key players in the amusement parks market range from major park operators and technology providers to infrastructure firms and marketing agencies. Each plays a vital role in shaping the industry. Their contributions drive innovation, enhance guest experiences, and ensure the continued growth and success of the market.
In the News
- In September 2023, The Walt Disney Company declared that to draw more guests, it would temporarily lower the cost of children's tickets for its theme parks and would be investing roughly USD 59 billion over the next ten years, in the parks division.
- In January 2022, The Sandbox announced a partnership with Warner Music Group (WMG) to produce a hybrid of a music theme park and concert venue where top performers will perform live in concerts and other musical events at LAND in The Sandbox.
Author Credits: Saima Khursheed
- Report ID: 6299
- Published Date: Nov 27, 2024
- Report Format: PDF, PPT
