Destination Wedding Market Size (2022-2027) The Global Destination Wedding Market is esteemed to grow at a CAGR of 6% during the forecast period 2022-2027. The market value was at USD 22.81 billion in 2021, and the value is expected to reach USD 54.44 billion by the end of 2027. A destination wedding is usually planned at a high-end resort where all the wedding activities begin a week earlier along with the guests. The destination wedding can be small and intimate, and this wedding plan offers flexibility. In fact, a destination wedding is held away from the couple’s hometown. For tourism and travel, a destination wedding is an important business activity. The rise in the number of resorts, hotels, and flight connectivity in major places is creating interest for couples to marry at their desired destination. Now a day, couples are seeking unique and personalized experience abroad that is anticipated to fuel the global destination wedding market. To More Read: https://www.marketdataforecast.com/market-reports/destination-wedding-market Market Drivers: The rise in the economy is a major driving factor for the destination wedding market to grow eventually. Couples' interest in marrying at their desired destination is inclined to propel the demand of the market to the extent. Market Restraints: However, the growing costs of tour packages are slightly degrading the demand of the destination wedding market. Lack of complete knowledge of the events involved in the destination wedding is also hindering the growth rate of the market. Market Segmentation: Global Destination Wedding Market - By Season: High Season, Mid-Season, Low Season, and Mid-Peak Season. Mid-peak season segment held 26% of market shares. This segment has the dominant shares owing to the favorable weather conditions. Global Destination Wedding Market - By Inclusion & Activity: Accommodation Services, Food Service, Butler Services, and Other Services. The accommodation services segment is expected to register the highest CAGR, whereas the food service segment is anticipated to have the dominant share of the destination wedding market. Global Destination Wedding Market - By Guest Capacity: Below 100 Guests, 100 & Above. The below 100 guests’ segment is likely to have prominent shares of the market. The rising trend for micro wedding/intimate weddings due to the effect of the corona is majorly propelling the demand of the below 100 guests’ segment.
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