NEWARK, Del, June 06, 2023 (GLOBE NEWSWIRE) — As per the latest data released by Future Market Insights (FMI), the wine tourism market is estimated to reach ~US$ 13.9 Million in 2023 and is projected to reach ~US$ 47.5 Million by 2033, at a CAGR of 13.1% from 2023 to 2033.
The wine tourism market is experiencing steady growth driven by increasing interest in wine, experiential travel, and the rise of culinary tourism. Wine tourists are seeking educational experiences to deepen their knowledge and appreciation of wine, leading to the trend of wine education and experiential learning.
Sustainability and responsible tourism practices are gaining importance in the industry, and technology is being integrated to enhance the visitor experience. However, wine tourism is influenced by seasonal and weather conditions, and regulatory challenges can pose restraints on tour providers.
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Looking towards the future, emerging wine regions present new opportunities for unique experiences. Personalization and customization will likely become more prevalent to cater to the diverse preferences of wine enthusiasts. Advancements in technology, such as augmented reality and virtual reality, are expected to further enhance the wine tourism experience. Despite the promising prospects, challenges related to seasonality, regulations, and sustainability practices will need to be addressed.
- Global wine tourism generated a revenue of US$ 13.9 Billion by the end of 2023 the Wine tourism market is estimated to reach around US$ 47.5 Billion in 2033.
- Online booking channel brings most of the bookings for wine tourism and expected to increase at a CAGR of 13.1% during the forecast period.
- US dominated the global wine tourism market and contributed the major share of 17.1% in 2022
- The 46-55 years age group dominated the global market with a share…