June 13, 2024
Wildlife Hunting Tourism Market

Wildlife Hunting Tourism Market is Estimated to Witness High Growth Owing to Technology Advances in Hunting Equipment

Wildlife hunting tourism involves hunting various wild animals and game species for recreational purposes. The main attractions for wildlife hunting tourism are big five African animals including lions, leopards, elephants, rhinoceros and buffalos. Several countries provide organized hunting packages and tours for trophy hunting of these wildlife species. The global wildlife hunting tourism market is experiencing growth owing to rising interest of tourists in hunting exotic game species. Advances in hunting equipment such as rifle scopes, night vision binoculars, tree stands and crossbows have made the experience more exciting and enjoyable for hunters.

The global wildlife hunting tourism market is estimated to be valued at US$ 1.69 Bn in 2024 and is expected to exhibit a CAGR of 14% over the forecast period 2024 to 2031.

Key Takeaways

Key players – Key players operating in the wildlife hunting tourism market 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.

Key opportunities – Growing interest of affluent population in exotic hunting trips and organized tours for big five hunting in Africa are creating major opportunities in the market.

Technological advancements –Wildlife Hunting Tourism Market Demand  Advancements in night vision equipment, thermal imaging, rifle scopes and other hunting accessories are enhancing the experience for hunters and boosting the wildlife hunting tourism industry.

Market drivers

Rise in hunting tourism – Growing trend of hunting tourism particularly in Africa and other parts of world for trophy hunting of big five species is a key driver for the wildlife hunting tourism market. Countries are promoting organized hunts as a means to generate revenues and support wildlife conservation efforts. This is propelling market growth.

Current challenges in the Wildlife Hunting Tourism Market
This market faces a number of challenges currently. Poaching continues to be a major threat to wildlife populations across regions, impacting the natural habitats and diversity of species that attract hunting tourists. Additionally, factors like habitat destruction due to human encroachment, pollution, and climate change have negatively impacted the natural environment. Certain countries also face challenges in effectively enforcing hunting regulations and ensuring trips are conducted in a sustainable manner. The Covid-19 pandemic severely impacted tourism including wildlife tourism over the past years, leading to poor revenues and job losses for local communities dependent on this sector.

SWOT Analysis
Strengths: Growing popularity of wildlife adventures among experience seeking tourists. Established infrastructure and trained professionals in major hunting destinations.
Weaknesses: Overhunting risks depleting wildlife populations if not regulated sustainably. Seasonal nature of business leads to income uncertainty for communities.
Opportunities: Potential to attract new types of wildlife viewing tourists and expand offerings to non-hunting audiences as well. Digital technologies can enhance marketing of remote destinations.
Threats: Stricter animal welfare and environmental laws may constrain the industry in some regions or countries. Climate change poses risks to habitats essential for attracting wildlife.

Geographic regions of concentration

North America and Africa account for the bulk of the current market value, benefiting from large territories supporting diverse wildlife and a long history of hunting tourism. Countries like the USA, Canada, South Africa, Tanzania and Zimbabwe have developed substantial infrastructure catering to international big-game hunters.

Fastest growing region
Asia Pacific region is projected to emerge as the fastest growing regional market for wildlife hunting tourism during the forecast period. Countries like Bhutan, India and Nepal are proactively working to promote their unique wildlife and habitats as new hunting destinations, aided by improving accessibility. Growing affluence and interest in wilderness experiences among Asian urban populations will support stronger demand from within the region as well.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it