Market Forecast by Countries (China, India, Japan, Australia, Indonesia, Philippines, Thailand, Malaysia, Rest of Asia), By Type (Stage Shows, Online) And Competitive Landscape
Product Code: ETC435911 | Publication Date: Nov 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
Asia Pacific carnivals, circuses and magic shows market is expected to grow during the forecast period. This growth is mainly attributed to the increasing number of tourists travelling to various parts of the region. There has been an increase in the number of exhibition and events taking place across various countries in the region, which has led to an increase in demand for carnival rides and other amusement park-related attractions. Additionally, growing popularity of theme parks and other leisure activities is also contributing to this market growth.
According to 6Wresearch, the Asia Pacific Carnivals, Circuses and Magic Shows Market size is expected to grow during 2022-2028. Carnivals, circuses and magic shows are all forms of entertainment that have been around for centuries. They are all designed to amaze, amuse and entertain audiences of all ages. Carnivals typically feature a variety of rides, games and food concessions, while circuses focus on showcasing talented acrobats, clowns and animals. Magic shows are usually more intimate affairs, featuring illusionists performing jaw-dropping tricks. No matter what form they take, these types of shows always aim to dazzle and delight their audiences.
When you think of carnivals, circuses and magic shows, Asia Pacific is probably the first region that comes to mind. This is because Asia Pacific is home to some of the world’s largest and most popular carnivals, circuses and magic shows. This market has been booming for years, and there are many reasons why.
The applications for carnival circuits are mainly focused on amusement parks and roadside stalls while magic shows are mainly used for corporate events or other special occasions. Apart from these applications there is also increasing demand for raw material such as costumes and vehicles used in circus performances which can be customized for specific needs like political rallies or product launches.
The Asia Pacific Carnivals, Circuses and Magic Shows Market revenue has been witnessing significant growth over the past few years owing to increasing demand from tourists and people in general. The rise in disposable income coupled with booming economies in China and Southeast Asia is fuelling the market growth. Other factors such as increased awareness about global events, growing interest in unusual tourist destinations, and an increase in number of festivals are also contributing to the market growth.
This growth can be attributed to increasing population, rising disposable income, changing lifestyle preferences across the region, increasing awareness about the benefits that these shows offer and the growing popularity of amusement parks in countries such as China, Japan and South Korea.
One of the main restraints affecting the Asia Pacific carnivals, circuses and magic shows market growth is limited availability of land and infrastructure. Additionally, stringent safety regulations are imposing constraints on the orientation of these events, limiting their appeal to some regions. However, other factors such as rising disposable income levels and increasing interest in western-themed entertainment are expected to bolster the demand for carnival events in Asia Pacific countries over the next five years.
Challenges that the market faces include limited infrastructure and support, low population density in most countries in the Asia Pacific region, and lack of awareness about these events. Additionally, high ticketing prices are restraining the growth of this market.
The Asia Pacific carnivals, circuses and magic shows market share is currently dominated by China and Japan, owing to their high population concentration, increasing leisure travel activity by Chinese tourists in countries such as North America and Europe and presence of large entertainment industries. India is also projected to witness significant growth over this period due to increase in investments by various corporates into amusement park chains, including those catering specifically towards children. In addition, smaller regional markets such as South Korea are also witnessing significant growth owing to increasing leisure spending trend among high-income population groups.
In Japan, however, magic shows are estimated to account for a larger share than circus performances owing to strong consumer preferences towards amusement parks that offer both types of attractions.
In the Asia Pacific Carnivals, Circuses and Magic Shows market, type is segmented into stage shows and online. The stage shows segment includes traditional carnival games, such as ring toss and darts, as well asmagic shows and clown performances. The online segment offers digital versions of these experiences, allowing users to play carnival games and win prizes virtually.
The COVID-19 pandemic has impacted the Global carnivals, circuses and magic shows market in several ways. Firstly, many events have been cancelled or postponed due to government restrictions on public gatherings. This has led to a decline in revenue for the market as a whole. Secondly, many people are now choosing to stay at home rather than go out to public events, which has further contributed to the decline in market revenue. Finally, the pandemic has also caused a decrease in demand for performers and other staff involved in running carnivals, circuses and magic shows.
The report offers a comprehensive study of the subsequent market segments: