Table of Contents
Overview
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- What you need to know
- Covered in this report
Executive Summary
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- The market
- Market shifts to a more rational growth
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- Figure 1: Visitor volume and consumer spending on theme parks and amusement parks, 2014-18
- Land parks have broadly and deeply penetrated the market
- New park development faces higher standards…
- …but travel and leisure entertainment sectors enjoy favourable market conditions
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- Figure 2: Consumer spending on travel and leisure entertainment, 2016-18
- Theme parks and amusement parks expect slower but still healthy growth in future
- Companies and brands
- Market concentration level is moderate
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- Figure 3: Market share of theme parks and amusement parks, by visitor volume, 2016-18
- Ocean theme parks try a new model: the entertainment town
- Fantawild expanded market share by opening new parks
- Creative products open door for sales growth
- Innovative resorts derive inspiration from theme parks and amusement parks
- The consumer
- Not many first-time park visitors in the market
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- Figure 4: Parks visited, August 2019
- Consumers visit more than once a year
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- Figure 5: Visitation frequency, August 2019
- Consumers are enticed by both attractions and in-park services
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- Figure 6: Attractive park features, August 2019
- Consumers associate parks with joyfulness, memories and trendy activities
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- Figure 7: Attitudes towards theme parks and amusement parks – park image, August 2019
- Parks are suitable for dating and socialising with friends for post-90s
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- Figure 8: Attitudes towards theme parks and amusement parks – visitation context, August 2019
- Theme parks and amusement parks are preferred leisure option during longer holidays
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- Figure 9: Interested holiday activities during different holiday types, August 2019
- Consumers’ willingness to spend time on travel suggests positive market conditions
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- Figure 10: Leisure time allocation, August 2019
- What we think
Issues and Insights
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- Park brands can fend off competition from resorts with a well-differentiated image
- The facts
- The implications
- Consumers’ interest in learning new knowledge inspires creative product retail
- The facts
- The implications
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- Figure 11: Activities offered at Fico Eataly World, 2019
- Upgraded in-park food and beverages stay true to IP storylines
- The facts
- The implications
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- Figure 12: Coca-Cola special edition inspired by Star Wars
The Market – What You Need to Know
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- Visitor volume growth becomes more rational
- Consumer spending growth is also affected
- Land parks penetrate deeply and widely in the market
- Higher standards for new theme park development
- Positive outlook in travel and leisure entertainment sectors
- Market expects to see slower but still healthy growth
Market Size and Forecast
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- The market is shifting toward rational volume growth
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- Figure 13: Number of visitors to theme parks and amusement parks in the China market, in million person-times, 2014-18
- Consumer spending is largely determined by visitor volume
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- Figure 14: Spending on theme parks and amusement parks in the China market, 2014-18
- Visitor volume growth rate expected to slow down
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- Figure 15: Forecast of visitors to theme parks and amusement parks in the China market, in million person-times, 2019-24 (est)
- Slower growth of consumer spending
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- Figure 16: Forecast of consumer spending on theme parks and amusement parks in the China market, in billion RMB, 2019-24 (est)
Market Factors
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- Increasing demand in both travel and leisure entertainment
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- Figure 17: Consumer spending on travel and leisure entertainment, 2016-18
- Land parks penetrate deeply in the market
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- Figure 18: Percentage share of land parks, by city administrative division, 2019
- Higher standards of park quality
Key Players – What You Need to Know
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- Market is moderately concentrated
- Ocean theme parks try out a new ‘open entertainment town’ model
- Many features more important than in-park performances to attract consumers
- Creative product sales open a door for growing sales
- Resorts highlight relaxing holidays mixed with fun activities
Market Share
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- Competition concentrated among key companies
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- Figure 19: Market share of theme parks and amusement parks, by visitor volume, 2016-18
Competitive Strategies
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- Brands trial ocean-themed ‘open entertainment towns’ in place of theme parks
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- Figure 20: Percentage share of ocean theme parks and pavilions, by city administrative division, 2019
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- Figure 21: Marine animal tunnel at Tianjin Haichang Ocean Park
- In-park performances are adopted by parks
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- Figure 22: In-park performances offered by leading theme park and amusement park brands, 2019
- Figure 23: Reasons to visit a theme park, August 2017
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- Figure 24: Preference on domestic spending categories, November 2017
- Expansion by opening new parks
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- Figure 25: Openings of new theme parks among leading companies in the China market, by number of parks, 2013-19
- Opportunities in creative product sales
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- Figure 26: Haichang Ocean Park Holdings Ltd’ park and resort segment revenue, 2018
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- Figure 27: Creative product retail stores by Songcheng Performance Development Co., Ltd
Who’s Innovating?
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- Hotel groups mimic theme parks in the design of new resorts
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- Figure 28: Senbor Resort, 2019
- Vegan dining concept added to US theme parks
The Consumer – What You Need to Know
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- Almost 80% of consumers have been to parks
- Majority of consumers visit parks more than once
- Consumers with children aged 0-12 are key visitors of the three leading brands
- Theme parks and amusement parks are associated with happiness, memories and trendy activities
- Attractions and services are important features motivating park visitation
- Theme parks and amusement parks are preferred leisure option for longer holidays
- Willingness to spend time on travelling is positive sign
Parks Visited
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- Not many first-time park visitors in the market
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- Figure 29: Parks visited, August 2019
- Consumers seek visitation experiences at different park brands
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- Figure 30: Visitors to different park brands, August 2019
- Three leading brands all target families with children
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- Figure 31: Visitors to Fantawild, by city, August 2019
- Figure 32: Park visitation of three key brands, by age group of children, August 2019
Visitation Frequency
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- Nine out of 10 consumers have visited more than once
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- Figure 33: Visitation frequency, August 2019
- Consumer profile of high-frequency visitors
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- Figure 34: Visitation frequency – have visited 4 times or more, by gender and generation, August 2019
Attractive Park Features
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- Consumers are lured by attractions and services too, not just IPs
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- Figure 35: Attractive park features, August 2019
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- Figure 36: Preference for attractions styles, by generation, August 2019
- In-park service is the top mention among post-90s
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- Figure 37: Top three attractive park features for post-90s, August 2019
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- Figure 38: Attractive park features – service-related features, by generation, August 2019
- Consumers have similar preference for cartoon and non-cartoon themes
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- Figure 39: Consumers’ preferences toward themes, August 2019
- Good services help entice mid- and high-frequency consumers
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- Figure 40: Top three attractive park features, by consumers’ visitation frequency, August 2019
Attitudes towards Theme Parks and Amusement Parks
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- Image of parks: happiness, memories and trendy leisure time activities
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- Figure 41: Attitudes towards theme parks and amusement parks – park image, August 2019
- Being trendy brings ideas for in-park attractions
- Children are the most mentioned companions when visiting parks
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- Figure 42: Attitudes towards theme parks and amusement parks – visitation context, August 2019
- Socialising with friends and dating are pervasive among post-90s
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- Figure 43: Attitudes towards theme/amusement parks – selected items, by generation, August 2019
- Figure 44: Interested holiday activities at the weekend, August 2019
Interested Holiday Activities during Different Holiday Types
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- Consumers prefer to go away rather than take a staycation
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- Figure 45: Interested holiday activities during different holiday types – stay at home, August 2019
- Consumers prefer different leisure activities during different holiday types
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- Figure 46: Interested holiday activities during different holiday types, August 2019
Leisure Time Allocation
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- Keywords for leisure time: wellness, travel and knowledge
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- Figure 47: Leisure time allocation, August 2019
- Female consumers tend to spend more time travelling domestically
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- Figure 48: Leisure time allocation – spend more time on domestic travel, by demographics, August 2019
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- Figure 49: Leisure time allocation – spend more time on domestic travel, by family structure, August 2019
- Mid- and high-frequency visitors willing to spend more time on domestic travel
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- Figure 50: Leisure time allocation – domestic travel, by visitation frequency, August 2019
Meet the Mintropolitans
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- High penetration of parks among MinTs
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- Figure 51: Parks visited among MinTs, August 2019
- MinTs are more experienced theme park and amusement park consumers
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- Figure 52: Visitation frequency, by consumer classification, August 2019
- MinTs have a passion for domestic travel
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- Figure 53: Leisure time allocation – domestic travel, by consumer classification, August 2019
Appendix – Methodology and Abbreviations
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- Methodology
- Fan chart forecast
- Abbreviations
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