Global Amusement Park Market Size, Share, Growth Analysis, By Rides(Mechanical Rides, Water Rides), By Revenue Source(Ticket, Food & Beverage) - Industry Forecast 2024-2031

Global Amusement Park Market size was valued at USD 48.8 billion in 2019 and is poised to grow from USD 51.23 billion in 2023 to USD 79.26 billion by 2031, growing at a CAGR of 4.97% in the forecast period (2024-2031).

Open-air leisure and entertainment areas with a focus on fictional characters and themes are referred to as amusement parks. They are professionally run additions to fairs and picnic areas that serve people of all ages. They provide a range of entertainment options, including mechanical rides, water parks, theme parks, arcades, casinos, places to wager on sports, hotels, resorts, and refreshment areas. They might also provide immersive cinematic experiences with high-definition (HD) light and music performances as well as theatrical productions that appeal to both adults and children. One of the major factors contributing to the market's optimistic outlook is rapid urbanization, which has been accompanied by strong growth in the travel and tourism sector. Additionally, the availability of cutting-edge rides, lodging options, and authorized items in the theme parks is accelerating industry expansion.

Visitors of all ages are drawn to amusement parks by the accommodations, merchandise, and cutting-edge rides. As a result, the industry is anticipated to rise due to an increase in tourists, especially children and parents. As they are based on fictional characters, these amusement parks draw more young visitors because they allow them to interact with costumed characters from Marvel and Disney films. In the upcoming years, market growth is anticipated to be fueled by the establishment of such themes.

Generation Z and Millennials, who make up the majority of visitors to amusement parks, are putting pressure on the industry to adopt clean energy sources, reduce waste, and offer vegan food alternatives. While Six Flags Discovery Kingdom became the first solar-powered park in the Western United States in 2019, Walt Disney World currently uses solar farms as one of its energy sources. Parks are also reducing their use of straws and substituting plant-based alternatives. Stock and point of sale monitoring will aid in the improvement of the efficiency of the supply chain and sales decisions. By figuring out what foods and products are currently in demand, one can avoid shortages. Nowadays, consumers all over the world spend more money experiencing things rather than purchasing them. The promotion of theme-based amusement parks and the growth in public interest rely heavily on social media platforms. Additionally, the rising disposable income of the populace, particularly in developing nations like China and India, is a factor boosting the market's growth over the anticipated period. As a result, shifting lifestyles, cultural shifts, and increasing disposable incomes of the populace are blamed for the expansion of amusement parks. Over the anticipated period, all of these factors are generating sizable growth opportunities for the market.

US Amusement Park Market is poised to grow at a sustainable CAGR for the next forecast year.