Cycle Tourism Market: Current Analysis and Forecast (2024-2032)

The cycle tourism market is rapidly expanding due to the growing interest in sustainable travel, fitness, and experiential tourism, and it is expected to grow even more in the future because of the maturity of the cycle tourism market, greater environmental awareness, physical benefits, and the trend in buying retail tourism services with an emphasis on living local experiences. Cycle tourism is a versatile product offering services for groups and individual tourists and coming as a package tour for bicycle enthusiasts. Market leaders are diversifying their products to fit different population types and preferences of younger generations, families, single travelers, and others. Of course, this market growth is positively influenced by direct-booking web applications and social networks that enhance cycling holidays for users of any age.

The cycle tourism market is set to show a growth rate of about 8.7%. This is due to platforms like Instagram showcasing scenic cycling routes, inspiring more travelers to try cycling tourism to capture similar experiences. Also, increasing R&D, investment, product advancements, and collaborations in this industry drive the Cycle Tourism market. For instance, in September 2021, Cycling UK announced the launch of the West Kernow Way, a new 150-mile cycling route in Cornwall designed as an off-road loop starting from Penzance. Created to showcase Cornwall's landscapes and cultural heritage, the route uses quiet roads, bridleways, and trails and is estimated to take three to four days to complete. As part of an initiative to promote off-season tourism, Cycling UK has worked with local authorities to ensure long-term access to certain paths.

Based on group, the market is segmented into groups/friends, couples, family, and solo. The groups/friends category is expected to have the largest market share of the cycle tourism market. Groups and Friends are the ones that tend to spend money on the cycle tourism market because they are social beings who enjoy cycling together. People love to travel in groups because it makes the adventure more exciting as well and everyone feels safe especially when they are choosing those daring routes or beautiful trails. Most organizations address such issues by designing group packages that not only suit people's tastes but also make journeys more economical.

Based on the booking mode, the market is segmented into direct, travel agent, and marketplace booking. Among these, the direct segment is a key driver of the cycle tourism market. Direct booking mode is preferred by cycle tourists because of factors such as convenience, cost-effectiveness, and customization. Direct booking enables the travelers to put their word to the service provider, which makes everything very personal. This method is liked by the young population, especially those who prefer to use reactions, and like to know everything on their bikes.

Based on the age group, the market is segmented into 18 to 30 years, 31 to 50 years, and above 50 years. Among these, the 18 to 30 years segment is a key driver of the cycle tourism market. The Young Adults segment under 30 years is crucial for the market since young people are conscious about their health and choose sustainable, and extraordinary travel experiences. An eco-tourism means that this group would be interested in cycling because it affords a direct and active means of exploring destinations. The desire of citizens to share such experiences on social networks increases interest in similar trips with friends and thus growth in cycle tourism.

For a better understanding of the market adoption of cycle tourism, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Among these, the North American cycle tourism market is likely to expand in the coming years. North America has numerous beautiful routes for cycling which include coastal roads and bike paths, national parks, and other historic routes for country biking for both leisure and adventure cycling. Many cities are coming up with bicycle facilities including bike lanes and safe cycling tracks thus improving the attractiveness of cycling as a leisure activity to tourists. Moreover, with advancements in bike-sharing services and readily available rentable bicycles, any tourist can pick up a bicycle and integrate cycling vacations into the trend of cycle tourism in the region.

Some major players running in the market include SpiceRoads; World Expeditions Travel Group Pty Ltd; Travel + Leisure Co.; Exodus Travels Limited; Intrepid Group; G Adventures; Arbutus Routes; Austin Adventures; Himalayan Glacier; Backroads