CLEVELAND, Feb. 22, 2017 /PRNewswire/ -- US consumer spending on recreation services is forecast to rise 3.4% annually to 2021, according to Recreation: United States, a report recently released by Freedonia Focus Reports. Faster gains are expected in the Live Entertainment and Spectator Sports segments of the market, bolstered by growth in disposable personal income and a shift in consumer preference toward spending on experiences rather than possessions.
In addition, recreation providers are appealing to an increasingly diverse population with new amenities and entertainment offerings. Features such as nursing suites in sports stadiums cater to a growing base of female sports fans. In the Live Entertainment segment, diverse musical acts are drawing consumers of various ages to music festivals. For example, Goldenvoice's Desert Trip festival in October 2016 featured notable musicians and groups that are especially appealing to baby boomers, such as Bob Dylan, Neil Young, Paul McCartney, The Rolling Stones, and The Who.
These and other key insights are featured in Recreation: United States. This report forecasts US personal consumption expenditures (PCE) on recreation services in US dollars to 2020. Total spending is segmented by service in terms of:
- amusement parks and related services
- clubs and participant sports
- live entertainment
- spectator sports
- movie theaters
- museums and libraries.
To illustrate historical trends, total PCE and the various segments are provided in annual series from 2005 to 2015.
More information about the report is available at https://www.freedoniafocusreports.com/Recreation-United-States-10632039/
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at www.freedoniafocusreports.com or marketresearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/diverse-offerings-amp-up-consumer-spending-on-recreation-300411698.html
SOURCE The Freedonia Group