Global amusement parks market is anticipated to grow at a considerable CAGR of 4.2% during the forecast period (2024-2031). The market growth is driven by the growing tourism sector coupled with the development of new amusement parks. Additionally, the increasing government support is driving the market growth. The global amusement parks market is segmented by type (theme park, water park, and amusement arcades), by ride (land rides, water rides, and others), by source of revenue (hotels/ resorts, tickets, food & beverages, merchandise, and others), and by geographies (North America, Europe, Asia-Pacific, and Rest of the World).

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Market Dynamics

• The land rides segment is anticipated to hold the largest market share during the forecast period, attributed to the rising demand for roller coasters, huge rides, and 4D experiences. Additionally, the emerging middle-class interest, rising household expenditure on outdoor activities, and the opening of new theme parks are contributing to the growth of this market segment.
• Asia-Pacific market is anticipated to cater to considerable growth over the forecast period. The growing investment in economies such as India and China for the development of new amusement and theme parks is driving regional market growth.
• North America is anticipated to hold a considerable market share during the forecast period. The US is the major contributor to the North American market, owing to the increasing adoption of technological advancements in the form of augmented and virtual reality. However, the introduction of AR & VR gaming centers, live concerts, and movie theatres is challenging the market growth, as they require comparatively less time and offer great experience.
• The technological innovations are enabling several startups and small players to enter the market. Thus, big players such as Disney, Universal, and Six Flags are undergoing mergers and acquisitions to reduce competition and generate a higher ticket pricing opportunity.

The major players in the global amusement parks market include Cedar Fair Entertainment Company, SeaWorld Parks & Entertainment, Six Flags Entertainment Corp, The Walt Disney Company, and Ardent Leisure among others. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more.

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Recent Developments

• In August 2023, Mattel Adventure Park announced it opened with Hot Wheels rollercoasters and a life-size Barbie Beach House™ in 2024. The company sticks to its deadline and the park is anticipated to open in late 2024. It would be the first fully themed indoor/outdoor amusement park in Arizona and would be located to the south of State Farm Stadium in Glendale at VAI Resort. The park would be operational 365 days a year and would display the full spectrum of the toymaker’s expansive portfolio.
• In June 2024, VAI Resorts delay delays its opening to 2025. The construction of the entertainment destination in the Phoenix area, Arizona. It is targeted to be a $1 billion business venture in Glendale, covering 60 acres of land.

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