Yahoo Finance Destination Wedding Global Market Report 2022
Major players in the destination wedding market are White eden weddings, FiestaSol, Magical weddings, Sparkles & Bubbles, Peach Perfect Weddings, The Wedding Travel Company, LM Wedding Planner, Jennifer Fox Weddings, The Destination Wedding, Wedding Planner Roma, Studio Brzak Events, ALL THINGS BEAUTIFUL, Planned For Perfection, Tropical Wedding & Honeymoon, BAQAA Glamour Weddings & Events, Vivaah Weddings, The Big Night, Shehnaiyan, Impressario Inc.
New York, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Destination Wedding Global Market Report 2022" - https://www.reportlinker.com/p06323460/?utm_source=GNW
, and Revel Events.
The global destination wedding market is expected to grow from $15.89 billion in 2021 to $21.43 billion in 2022 at a compound annual growth rate (CAGR) of 34.9%. The destination wedding market is expected to grow to $64.01 billion in 2026 at a CAGR of 31.5%.
The destination wedding market consists of sales of destination wedding services by entities (organizations, sole traders, and partnerships) that refer to weddings that take place outside of the city or town where the soon-to-be-married couple resides.The destination wedding services involve planning, booking, and assistance with various ceremonies.
The term destination wedding refers to a wedding that is planned ahead of time in a location, usually a high-end resort, where the couple, wedding party, and guests stay for roughly a week and where all wedding-related activities take place.
The types of seasons in destination weddings are high season, mid-season, low season, and mid-peak season.The high season refers to the months in which most weddings occur.
The high season starts in the late winter and lasts till the end of summer.The main activities included in a destination wedding are accommodation services, food services, butler services, and other services.
The functions that take place during the wedding include pre-wedding ceremonies, wedding ceremonies, receptions, bachelor’s parties, and other types of functions.The venues of the destination wedding could be national or international wedding destinations.
The channels of booking for these destinations will be through phone, online, and in-person booking.
North America was the largest region in the destination wedding market in 2021. The regions covered in the destination wedding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The destination wedding market research report is one of a series of new reports that provides Destination wedding market statistics, including destination wedding industry global market size, regional shares, competitors with a destination wedding market share, detailed Destination wedding market segments, market trends and opportunities, and any further data you may need to thrive in the destination wedding industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The rising penetration of social media is expected to propel the growth of the destination wedding market growing forward.Websites and programs that emphasize communication, community-based input, engagement, content-sharing, and collaboration are collectively referred to as social media.
It can be challenging to unplug, even during the most important moments of life such as weddings, because Snapchat, Instagram, and Facebook have ingrained themselves so deeply into daily existence.Particularly during destination weddings, a variety of photo and video opportunities are available.
For instance, according to Pew research center, a nonpartisan fact provider, in 2021 72% of American people used at least one social media.Furthermore, according to an article published by Willow Wedding, a US-based wedding planner, in the US, 83% of wedding planning is now done online where 62% of couples create their wedding site, 52% use a wedding planning app and 54% implement a wedding hashtag on social media.
Therefore, the rising penetration of social media is driving the growth of the destination wedding market.
Eco-friendly weddings in natural locations have emerged as a key trend gaining popularity in the destination wedding market.People are attempting to be more environmentally conscious these days, which is why they are opting for eco-friendly weddings in natural settings.
Destination wedding service providers provide incredibly sustainable and natural sites, which helps the market flourish.For instance, according to a 2022 real weddings survey by Theknot, a US-based wedding planning company, 70% of couples agreed if they planned to have a marriage in 2022 to include environment-friendly activities and décor such as buying second-hand or up-cycled items, using recycled paper items, and minimizing the use of single-use plastic.
One-third of the couples believed that the vendors should be more proactive in providing eco-friendly solutions.
In July 2021, Matrimony.com Ltd, an India-based wedding services provider, acquired ShaadiSaga for Rs.11 crore ( $ 1.410.87 Million). With this acquisition, matrimony.com aimed to expand its services in the north and west markets and become a market leader in the destination wedding space. Shadisaga.com is operated by Boatman Tech Pvt. Ltd, which is a wedding planning site providing a one-stop solution for planning and deciding venues and vendors for destination weddings.
The countries covered in the destination wedding market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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