The Wildlife Hunting Tourism Market provides visitors with unique experiences to pursue big-game and other wildlife in their natural habitats. Wildlife hunts offer recreational advantages like exercise, immersion in natural settings, and trophies to commemorate the adventure. Products associated with hunting include specialized firearms, knives, decoys, tree stands, blinds, game calls, clothing, photography equipment and more.
The Global Wildlife Hunting Tourism Market is estimated to be valued at US$ 518.17 Mn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 to 2030.
Market key trends
There is a growing trend of sustainable and eco-friendly wildlife hunting practices. Various organizations and governing bodies are promoting fair-chase hunting and adopting regional wildlife management plans. They aim to stimulate natural reproduction cycles while generating economic benefits for local communities. Strict regulations ensure activities do not harm the fragile wilderness habitats or endangered species. This balanced approach helps the hunting tourism industry thrive sustainably in the long run.
Porter’s Analysis
Threat of new entrants: The threat is moderate as requirement of licenses and permits make it difficult for new players to enter the market. However, opportunities exist for niche players.
Bargaining power of buyers: The bargaining power of buyers is moderate as buyers have several options available. However, providers have strong brand recognition and reliable services.
Bargaining power of suppliers: The bargaining power of suppliers is low as there are many suppliers for required assets and resources. Suppliers do not have significant influence on pricing.
Threat of new substitutes: The threat is low as there are limited alternatives to wildlife hunting tourism. However, eco-tourism is slowly emerging as a substitute.
Competitive rivalry: The competitive rivalry is moderate to high as major players compete on basis of product differentiation, customer experience and license to hunt specific animals.
Geographical Regions:
North America is currently the largest region for wildlife hunting tourism market in terms of value. Countries like USA and Canada have abundance of wildlife and mature hunting industry and culture.
Africa is expected to be the fastest growing region during the forecast period. Countries like South Africa, Namibia, Tanzania etc are aggressively promoting hunting of big five animals and have witnessed significant growth in recent years. Abundance of wildlife and largely unexplored potential provides opportunities for future growth.
Key Takeaways
Key players operating in the Wildlife Hunting Tourism Size are Abbott Laboratories, Thermo Fisher Scientific, Inc, Drägerwerk AG & Co. KGaA, Laboratory Corporation of America Holdings, Quest Diagnostics, Alfa Scientific Designs, Inc, Lifeloc Technologies Inc, Lion Laboratories Limited, OraSure Technologies, Inc, Omega Laboratories, Inc., Shimadzu Corporation, Siemens Healthineers, F. Hoffmann-La Roche AG, Premier Biotech, Inc, Psychemedics Corporation, Innovative Testing Solutions, Biopanda Reagents Ltd, Alpha Laboratories, Matrix Diagnostics, Atlas Medical, Rapid Labs Limited, and Randox Laboratories Ltd.
The growing demand for adventure and unique experiences is driving more people to participate in wildlife hunting tours each year. Several countries are emphasizing on developing infrastructure and promoting themselves as wildlife hunting destinations to leverage the tourism potential.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
