Wildlife Hunting Tourism Market

Wildlife Hunting Tourism Market, By Type (Big Game Trophy, Small Game Trophy, Skill Hunting), By Species type (Ungulates, Rodents, Birds, Carnivores, Others), By Contribution (Transportation, Accommodation, Food & Dining, Equipment, Others), By Geography (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)Wildlife tourism is a branch of the tourism industry in many countries that focuses on observing and interacting with local animals and plants in their natural environments. Wildlife is a renewable resource with a surplus, hunter’s aid in maintaining a healthy wildlife population for the habitat through wildlife hunting.

Market Dynamics

Wildlife hunting tourism is an effective way to raise revenue and create economic incentives for wildlife conservation. According to the U.S. National Shooting Sports Foundation (NSSF), in 2021, the average annual expenditure on hunting and fishing equipment per consumer unit in the US increased to nearly US$ 59

Wildlife hunting tourism helps African nations practice conservation while also improving the livelihoods of rural and indigenous people so that it reduces their dependence on foreign aid. These nations follow revenue-sharing agreements between rural communities, private enterprises, and conservation agencies. These communities are then paid 50% of the revenues generated by the tourism activity. In 2022, According to Property and Environment Research Center (PERC, a conservation and research institute dedicated to free market environmentalism), trophy hunting will account for 90% of revenue generated through campfire.

Due to the governments of countries like South Africa and Namibia's commitment to wildlife conservation, the wildlife conservation factor is expected to have a negative impact on the global wildlife hunting tourism market. There are various wildlife welfare organizations, such as the Born Free Foundation and Humane Society International, among others that are creating awareness about wildlife conservation and discouraging people from wildlife hunting. Moreover, they also pressure governments to ban wildlife hunting in their countries. This factor is expected to hamper market growth of the global wildlife hunting tourism over the forecast period. These associations refute claims that wildlife hunting benefits conservation and contributes significantly to local economies.

Key features of the study: This report provides an in-depth analysis of the global wildlife hunting tourism market, its market size (US$ Million), and compound annual growth rate (CAGR %) for the forecast period (2023-2030), considering 2022 as the base year It elucidates potential revenue opportunity across different segments and explains an attractive investment proposition matrix for this market This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players It profiles key players in the global wildlife hunting tourism market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans Insights from this report would allow marketers and management authorities of companies to make an informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics The global wildlife hunting tourism market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts Stakeholders would have ease in decision-making through various strategy matrices used in analysing the global wildlife hunting tourism market.Detailed Segmentation: Global Wildlife Hunting Tourism Market By Type:Big Game TrophySmall Game TrophySkill Hunting Global Wildlife Hunting Tourism Market, By Species type:UngulatesRodentsBirdsCarnivoresOthers Global Wildlife Hunting Tourism Market, By Contribution:TransportationAccommodationFood & DiningEquipmentOthers Global Wildlife Hunting Tourism Market, By Region:North AmericaEuropeAsia PacificLatin AmericaMiddle EastAfrica Company Profiles:Safari Club InternationalCabela'sBass Pro ShopsRemington Outdoor CompanyBerettaHunters Hill SafarisWeatherbyLeicaWinchester AmmunitionOrvisHornadyBlaser GroupZeissSakoNorma