2021
0
China Theme Parks Market Report 2021
2021-07-11T05:00:22+01:00
OX1049221
3695
140191
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Report
en_GB
“Consumers visit theme parks to satisfy different needs, with entertainment and family bonding being the popular ones. Beyond these, nature immersion is an important motivation to visit parks but it…

China Theme Parks Market Report 2021

£ 3,695 (Excl.Tax)

Report Summary

“Consumers visit theme parks to satisfy different needs, with entertainment and family bonding being the popular ones. Beyond these, nature immersion is an important motivation to visit parks but it is yet underdeveloped. Nature elements can help parks redefine “seasonal” events and can be married with culture marketing.”
– Saskia Zhao, Senior Research Analyst

Covered in This Report

  • An overview of the theme park market in China: market size and a review of new park openings
  • Future outlook: Mintel’s forecast on the recovery speed over the next five years
  • Leading players’ market share and competitive strategies
  • Characteristics of key theme park visitors
  • Opportunities in IP-licensing, in-park foodservice and marketing communication

Table of Contents

  1. Overview

    • What you need to know
      • Covered in This Report
        • Definition
        • Executive Summary

            • The market
              • Visitor numbers and spending dropped significantly in 2020 due to COVID-19 outbreak
                • Figure 1: Theme park visitor volume and spending, 2014-20
              • Theme parks being a preferred leisure choice
                • Increasing park supply creates more intense competition
                  • Figure 2: Number of land parks in China, 2019 vs 2021
                • Lower participation in long-haul travel has an impact on theme park recovery
                  • Visitor numbers forecast to climb back to pre-outbreak level in 2024
                    • Figure 3: Forecast of theme park visitors in China, 2021-25
                  • Spending will return on slow road
                    • Figure 4: Forecast of consumer spending on theme parks, 2021-25
                  • Companies and brands
                    • Market concentration increases
                      • Figure 5: Market share of theme park brands, by visitor volume, 2016-19
                    • Existing key players keep expanding
                      • New brands joining the market
                        • IP licensing on trend
                          • Figure 6: Penetration of products carrying selected IPs in CPG new product development, 2011-20
                        • Theme parks team up with subcultures for special events
                          • The consumer
                            • Characteristics of key theme park visitors
                              • Figure 7: Types of theme park visitors, 2021
                              • Figure 8: Attitudes towards theme parks – % of strongly agree, by consumer segmentation, 2021
                            • Visitation decreased due to COVID-19 outbreak
                              • Figure 9: Parks visited, 2021
                            • Overall, interest in a future visit is on par with the past visitation rate
                              • Figure 10: Interest in paying a visit in the future, 2021
                            • Foodservice opportunities: cash-in by promoting snacks and drinks to repeat visitors
                              • Figure 11: Foodservice budget, 2021
                            • Gen-Zers look for price-quantity balanced offerings for in-park foodservice
                              • Figure 12: Important factors for foodservice choice, 2021
                            • IP themes can promote in-park sales of beauty and electronic products
                              • Figure 13: Interest in IP-themed merchandise, 2021
                            • What we think
                            • Issues and Insights

                              • Nature, a neglected but important theme to engage visitors
                                  • Figure 14: Attitudes towards theme parks – % of strongly agree, by consumer segmentations, 2021
                                • Refresh seasonal events with inspiration from culture marketing
                                  • Theme parks owning popular IPs see rising opportunity in electronic product merchandise
                                    • Figure 15: The most cited 3 reasons not to buy smart device, 2021
                                • Market Size and Forecast

                                  • Visitors declined almost by half in 2020
                                    • Figure 16: Theme park visitors in China, 2014-20
                                  • Value dropped even more severely due to COVID-19 outbreak
                                    • Figure 17: Spending on theme parks in China, 2014-20E
                                  • Visitor volume expected to be back to pre-outbreak level in 2024
                                    • Figure 18: Forecast of theme park visitors in China, 2021-25
                                  • Spending on theme parks will gradually return
                                    • Figure 19: Forecast of consumer spending on theme parks, 2021-25
                                • Market Factors

                                  • Theme parks are among consumers’ favourite leisure and holiday choices
                                    • Long-haul traveller volume takes time to recover
                                      • Figure 20: Domestic travel participation, 2021
                                    • Long-term discretionary spending more conservative
                                      • More park supply escalates competition
                                        • Figure 21: Number of land parks in China, 2019 vs 2021
                                        • Figure 22: Percentage share of land parks by city administration division, 2019 vs 2021
                                        • Figure 23: Percentage share of new land parks by city administration division, 2021
                                    • Market Share

                                      • Market concentration elevates
                                        • Figure 24: Market share of theme park brands by visitor volume, 2016-19
                                      • Fantawild grew by new park openings
                                        • Haichang Ocean Park pushed hard in marketing efforts
                                        • Marketing Activities

                                          • IP licensing activities trend up
                                            • Popular IPs penetrate to more CPG categories
                                              • Figure 25: Penetration of selected IP-themed* products in CPG new product development, 2011-20
                                              • Figure 26: CPG category coverage of IP-themed new product development, 2011-20
                                            • Beauty and dairy are the rising categories for IP-themed cross marketing
                                              • Figure 27: IP-themed new product development in colour cosmetics launched by local beauty brands, 2019-20
                                            • Disney leads IP themed marketing
                                              • Figure 28: Penetration of Disney IP-themed products in CPG new product development, 2011-20
                                            • Theme parks features subcultures for special events
                                              • Figure 29: Seasonal events featuring subculture, 2021
                                            • Intensive promotions stimulate visitations
                                            • New Park Openings and New Services

                                              • Disney: upgrade “hard- and software” inside the park
                                                • Fantawild: aggressive future expansion plans
                                                  • Figure 30: New park openings by chained leading brands in China, 2017-21
                                                • Chimelong: leverage ocean theme for park expansion
                                                  • Universal Resort: localise theme park experience with gaming IPs
                                                    • LEGOLAND joins the competition
                                                    • Parks Visited

                                                      • Overall visitation pattern remained
                                                        • Figure 31: Parks visited, 2021
                                                        • Figure 32: Types of parks visited, 2019 vs 2021
                                                      • Chimelong improved popularity while Fantawild needs to defend competitiveness
                                                        • Figure 33: Visitation comparison, 2019 vs 2021
                                                      • Key visitors’ profile for major theme parks
                                                        • Fantawild sees a drop in family holidaymakers
                                                          • Figure 34: Visitation to selected theme parks among family holidaymakers, 2019 vs 2021
                                                        • Disney stronger at attracting non-local travellers among non-chained parks
                                                          • Figure 35: Visited Disney and Chimelong, by city, 2021
                                                      • Future Visitation and Travel Companions

                                                        • Interests in future visitation remain
                                                          • Figure 36: Interest in paying a visit in the future, 2021
                                                          • Figure 37: Past visitation vs interest in future visitation, by theme park brands, 2021
                                                        • Future visitation largely depends on recruiting new consumers
                                                          • Figure 38: Visitor retention rate, by park brands, 2021
                                                        • Going beyond targeting family visitors
                                                          • Figure 39: Visitation companions for consumers who do not go with children, 2021
                                                        • Attracting Gen-Zers, Disney and Happy Valley can feature romantic and group activities respectively
                                                          • Figure 40: Gen-Zers’ visitation companions, Shanghai Disney Park and Happy Valley, 2021
                                                        • Beijing Universal Resort can respond to families travelling with seniors
                                                          • Figure 41: Visit theme parks with senior relatives in the family, by theme park brands, 2021
                                                        • Future visitation will be fuelled mainly by short-haul trips
                                                          • Figure 42: Interest in future visitation – selected brands, by city, 2021
                                                      • Foodservice Budget

                                                        • Economy-to-middle tier foodservice attract in-park dining
                                                          • Figure 43: Foodservice budget, 2021
                                                        • Young females willing to spend more for in-park foodservice
                                                          • Figure 44: Average foodservice budget, by age and gender, 2021
                                                        • Cash-in via snacks by targeting repeat visitors
                                                          • Figure 45: Average foodservice budget for major theme park brands, repeat vs new visitors, 2021
                                                      • Important Factors for Foodservice Choices

                                                        • Highlighting three things to promote foodservice: healthy eating, price and dining atmosphere
                                                          • Figure 46: Important factors for food service choice, 2021
                                                        • Food pricing important to Gen-Zers
                                                          • Disney Park
                                                            • Figure 47: Important factors for foodservice choice – Disney, by age, 2021
                                                          • Happy Valley
                                                            • Figure 48: Important factors for foodservice choice – Happy Valley, by age, 2021
                                                          • The other parks
                                                          • Interests in IP-Themed Merchandise

                                                            • Arts and crafts are the most attractive choice
                                                              • Figure 49: Interest in IP-themed merchandise, 2021
                                                            • Sophisticated visitors are interested in wider variety of merchandise
                                                              • Figure 50: Interest in IP-themed merchandise, by types of theme parks visited, 2021
                                                            • IP themes are effective in beauty and electronic products
                                                              • Figure 51: Attitudes towards IP themes – % of strongly agree, by interest in merchandise, 2021
                                                          • Consumer Segmentations: Theme Park Visitors

                                                            • Five types of theme park visitors
                                                              • Figure 52: Types of theme park visitors, 2021
                                                              • Figure 53: Past visitation rate, by consumer segmentation, 2021
                                                              • Figure 54: Top 3 parks visited in the last 12 months, by consumer segmentation, 2021
                                                            • Characteristics of each consumer segment
                                                              • Enthusiasts show interest in various aspects of theme parks
                                                                  • Figure 55: Attitudes towards theme parks – % of strongly agree, by consumer segmentation, 2021
                                                                  • Figure 56: Personal financial situations, by consumer segmentation, 2021
                                                                  • Figure 57: In-park Foodservice budget, by consumer segmentation, 2021
                                                                • Entertainment-First passionate about fun experiences and willing to queue for this
                                                                    • Figure 58: Leisure activity participation, by consumer segmentation, 2021
                                                                  • Sharing and nature immersion are important to Have-Fun-Together
                                                                    • Convenient support facilities appeal to Good Service Seekers
                                                                      • Low Engagement segment are the least active in theme parks
                                                                      • Appendix – Market Size and Forecast

                                                                          • Figure 59: Historical size and forecast for theme park visitors, 2014-25
                                                                          • Figure 60: Historical size and forecast for theme park spending, 2014-25
                                                                      • Appendix – Other Market Data

                                                                          • Figure 61: Location of Fantawild parks in China, 2021
                                                                      • Appendix – Other Consumer Data

                                                                        • Demographic profile for consumer segmentations
                                                                          • Figure 62: Demographic profile of Enthusiasts, 2021
                                                                          • Figure 63: Demographic profile of Entertainment First, 2021
                                                                          • Figure 64: Demographic profile of Have-Fun-Together, 2021
                                                                          • Figure 65: Demographic profile of Good Service Seekers, 2021
                                                                          • Figure 66: Demographic profile of Low Engagement, 2021
                                                                        • Interests in IP-Themed Merchandise
                                                                          • Figure 67: Interest in IP-themed merchandise, by consumer segmentation, 2021
                                                                        • Attitudes towards theme parks
                                                                          • Figure 68: Attitudes towards theme parks, 2021
                                                                      • Appendix – Methodology and Abbreviations

                                                                        • Methodology
                                                                          • Abbreviations

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