Destination Wedding Market

Global Destination Wedding Market Size (2024-2032):

The Global Destination Wedding Market is expected to grow at a CAGR of 6% during the forecast period 2024-2032. The market value was USD 25.73 billion in 2023 and is expected to reach USD 43.47 billion by 2032 from USD 27.27 billion in 2024.

MARKET SCENARIO

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. 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. Nowadays, couples are seeking unique and personalized experiences abroad that are anticipated to fuel the global 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 market's demand to the extent.

Key players are offering all-inclusive discounts on the packages where the cost of the destination wedding is less comparatively. This is likely to prompt the growth rate of the market. Lifestyle changes and prior intimate marriages are accelerating the demand for the destination wedding market. Growing awareness of the destination wedding through social media influencers is also a factor that contributed to escalating the growth rate of the market. Many people are turning destination weddings into grand and once-in-a-lifetime vacations. This attribute is positively impacting the growth rate of the market. Also, destination wedding plans are personalized according to the couple’s interests. The players provide multiple options for the couples in various aspects like cuisine, ambience, and themes. This factor is enhancing the growth rate of the destination wedding market. 

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 OPPORTUNITIES

The increasing prevalence of green wedding events and international scenic locations is attributed to providing growth opportunities for the market. Providing additional events such as pool parties, tracking, beauty pageants, and others are key trends for market growth in the future. 

REPORT COVERAGE

SEGMENT ANALYSIS

Global Destination Wedding Market Analysis By Season

Mid-peak season segment held 26% of market shares. This segment has the dominant shares owing to the favourable weather conditions. The high-season segment is expected to have the highest CAGR with increasing disposable income amid rising costs in many developing countries. 

Global Destination Wedding Market Analysis By Inclusion and Activity

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 Analysis By Guest Capacity

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.

Global Destination Wedding Market Analysis By Functions

The wedding ceremonies segment is ruling the shares of the destination wedding market. The reception segment is next in leading the prominent shares. This segment is holding 33% of market shares over the forecast period. Wedding ceremonies are easy to implement and simpler to plan. 

Global Destination Wedding Market Analysis By Venues

The international venue segment is accounted in holding 66% of destination wedding market shares. The growing prevalence of international venues among millennials is a major factor contributing to propelling the demand for the international venue segment. Their interest in a unique place for a wedding is enhancing the demand for this segment steadily. The national venue segment is also likely to grow at a significant rate as people in remote areas prefer their weddings according to their budget. 

Global Destination Wedding Market Analysis By Booking Channel

The in-person booking segment is leading with the dominant shares. 43% of shares are accounted for by the in-person booking segment. With the increasing IoT, the demand for the online booking segment is gaining traction over the shares of the destination wedding market.

REGIONAL ANALYSIS

North America is significantly holding the highest shares of the destination wedding market owing to the increasing economy and rising demand for intimate ceremonies. The US accounted for around 53% of shares in 2023, owing to the rising number of destination weddings. The increasing prevalence of eco-tourism is likely to lavish the destination wedding market growth. 

Offering attractive discounts in packages is majorly gearing up the demand of the market in Europe. The presence of cultural and heritage locations in the country is leveraging the demand of the destination wedding market. 

The Asia Pacific destination wedding market shares are esteemed to hit the highest CAGR in the coming years. India's destination wedding market is likely to have the largest shares. In India, the demand for destination weddings is rising enormously owing to the presence of popular traditional locations. Jodhpur, Jaipur, Udaipur, Mussoorie, Jim Corbett National Park, and others are popularly known as destination wedding locations in India. These places rely completely on wedding packages that attract customers. The growing population is also a factor in the increasing demand for destination weddings in APAC. Destination wedding market shares are booming in India owing to the launch of favorable tourism packages. The Middle East & African destination wedding market is likely to have growth opportunities in the forecast period. 

COMPETITIVE LANDSCAPE

Many key players are focussing on collaborations and partnerships along with finding a new location for wedding venues. This is expected to enhance the market position of the key player.

KEY PLAYERS IN THE GLOBAL DESTINATION WEDDING MARKET

Companies playing a prominent role in the global destination wedding market include White Eden Weddings, FiestaSol Tropical Wedding & Honeymoon, Magical Weddings, Sparkles & Bubbles, ALL THINGS BEAUTIFUL, PLANNED FOR PERFECTION,  Peach Perfect Weddings, The Wedding Travel Company, LM WEDDING PLANNER, Jennifer Fox Weddings, W Day, The Destination Wedding, Wedding Planner Roma, Studio Brzak Events, and Others.

RECENT HAPPENINGS IN THE GLOBAL DESTINATION WEDDING MARKET

• In July 2021, Playa Hotels & Resorts reduced the price of destination wedding packages. This limited-time bonus can save up to 10% in intimate elegance or Lavish & Opulent packages. 
• In 2020, All Seated Vision was introduced All Seated which allows clients to visit the properties virtually. The clients can virtually visit the event spaces from anywhere in the world. 
• In July 2021, Matrimony.com Ltd acquired ShaadiSaga for Rs. 11 crores. Matrimony.com is an Indian-based wedding services provider that acquired ShaadiSaga to expand its portfolio in the destination wedding market space. Boatman Tech Pvt. Ltd company is running the ShaadiSaga.com wedding site that provides venues and vendors for the destination wedding. 

DETAILED SEGMENTATION OF THE GLOBAL DESTINATION WEDDING MARKET IS INCLUDED IN THIS REPORT

This global destination wedding market research report has been segmented and sub-segmented based on season, inclusion and activity, guest capacity, functions, venues, booking channel, and region.

By Season

• High Season
• Mid-Season
• Low Season
• Mid-Peak Season

By Inclusion and Activity

• Accommodation Services
• Food Service
• Butler Services
• Other Services

By Guest Capacity

• Below 100 Guests
• 100 & Above

By Functions

• Pre-Wedding Ceremonies
• Wedding Ceremonies
• Reception
• Bachelor’s Party
• Other Types of Functions

By Venues

• National
• International

By Booking Channel

• Phone Booking
• Online Booking
• In Person Booking

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa