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New research has said that the children and family entertainment centre sector will be worth US$30.7bn by 2032, with the market growing by more than 10% each year
Tom Anstey | Planet Attractions | 21 Dec 2023
The FEC market generated an estimated US$11.5bn in 2022
A new report has suggested that the children and family entertainment centre (FEC) market will be worth US$30.7bn (€28.3bn, £24.2bn) by 2032, with an annual growth rate of more than 10% each year.
According to the report from Allied Market Research, the global FEC market generated an estimated US$11.5bn (€10.5bn, £9.8bn) in 2022, with that figure expected to grow significantly by 2032 with a compound annual growth rate of 10.6%.
The market is expected to enjoy notable growth owing to significant development and continuous launches of new entertainment centres supporting family activities, F&B integration, and participatory play, as well as an increase in the number of malls and “favourable youth demographics”.
In addition to new developments, a surge in new games and attractions, as well as development of new operations technology, is expected to offer lucrative opportunities for this sector during the forecast period.
Analysing the market, the report highlighted Disney, Dave and Busters, Landmark Group, Lego System, Funriders, Kidzania, Scene75, Smaaash, CEC and Cinergy as the key players in the children’s and FEC segment. According to the report, these players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry.
By visitor demographic, teenagers aged 12-18 hold the majority share of visitors, garnering more than one-third of the global children entertainment centres market revenue.
Arcades accounted for nearly one-third of the global FEC market share in 2022, with a fusion of classic arcade games and modern technology offering a diverse mix of experiences. AR and VR experiences are showing the fastest growth rate - around 13.6% per year - with the segment proving very popular in children’s and FEC environments.
North America is the region with the highest share in the FEC market, with the region holding more than a third of global market revenue in 2022. This is expected to be the same for 2023 with themed play areas, adventure zones, and storytelling-driven attractions all popular during the year.
The Asia-Pacific region accounts for nearly 80% of retail space under construction globally, and as such is also the fastest growing region for FECs, often seen in malls. During the period the growth rate for this region was 12.6%.
The report also highlights the profound impact that Covid-19 has had on the children’s and FEC market globally, with the pandemic significantly altering operations and visitor experiences. It also accelerated the adoption of online and at-home entertainment options, diverting attention away from physical entertainment centres. The financial impact and shifts in consumer behaviour led to closures or limited services for several entertainment centres, though with the worst of Covid-19 in the rear view, the market is predicted to once again enjoy growth.
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