Agritourism Market Size, Share, and Growth Trends: A Comprehensive Perspective, 2032

The global agritourism market was valued at USD 69.24 billion in 2019 and is projected to reach USD 197.37 billion by 2032, reflecting a CAGR of 8.88% during the forecast period, according to our analysis. Europe led the market with a 47.07% share in 2019.

The increasing shift toward entrepreneurship among farmers worldwide is significantly influencing the agritourism sector. Additionally, the market is expanding rapidly due to government initiatives aimed at boosting revenue in both agriculture and tourism. Growing consumer demand for affordable, nature-based, and sustainable tourism is a key driving force for the sector. Furthermore, increased efforts by governments, private organizations, and associations to develop agritourism through various projects and programs are expected to further fuel market growth.

Information Source: https://www.fortunebusinessinsights.com/agritourism-market-103297 

This Report Addresses the Following Questions:

• What are the key drivers and barriers in this market?
• What opportunities and challenges exist in the industry?
• Which segment is expected to lead in the future?
• Which region is anticipated to dominate in the coming years?
• What strategies are companies implementing to promote agritourism?

Drivers & Restraints

Farmers Transforming Properties into Agritourism Destinations to Drive Growth

Tourism and recreational activities contribute significantly to revenue generation for agricultural farms globally. As a result, many farm owners are rapidly converting their properties into agritourism destinations, which serves as a key driver for market growth. According to the Census of Agriculture, agritourism revenues from U.S. farms tripled between 2002 and 2017, highlighting the increasing investment in this sector. This trend is gaining momentum as farmers seek alternative income streams due to declining crop productivity.

Impact of COVID-19 on the Global Market

• The COVID-19 pandemic has severely disrupted the tourism sector.
• Lockdowns and transportation restrictions in many countries have significantly affected agritourism.
• Market growth remains uncertain due to the evolving situation.
• However, recovery is expected as conditions improve.

Segment Analysis

Direct-Market Agritourism Segment to Benefit from Increased Farm Product Sales

By type, the direct-market agritourism segment accounted for 36.06% of the market share. This growth is driven by rising government investments aimed at strengthening the agricultural economy and increasing farm product sales. Tourists interested in rural lifestyles are keen on purchasing authentic farm products and services, contributing to economic growth for farmers. In recent years, many farm owners have expanded their offerings to include a variety of fresh produce, further driving segment expansion.

Regional Insights

Europe to Lead the Market Due to Unique Promotional Strategies

Europe generated USD 32.59 billion in revenue in 2019 and is expected to dominate the agritourism market in the coming years. This is primarily due to the growing interest of both international and domestic tourists in on-farm agritourism for educational and recreational experiences. Additionally, strong government support, expansion of farm product offerings, and innovative promotional strategies are expected to further drive market growth in the region.

Competitive Landscape

Key Companies Focus on Collaborations to Strengthen Market Position

The agritourism market is highly fragmented, with numerous small, medium, and large-scale companies operating globally. Many organizations are collaborating with local startups to expand their businesses and increase farmers' income.

Notable Industry Developments:

• 2019: Field Farm Tours, a UK-based agricultural tour specialist, organized several major events, including the Devon World Conference, IFMA Pre & Post Tours, World Charolais Congress, Red Poll World Conference, and the 4th World Guernsey Conference, to enhance its revenue and market presence.
• January 2017: Stayzilla, an Indian homestay network, partnered with the Agri Tourism Development Company (ATDC) to promote agritourism homestays across the country, expanding its footprint in rural tourism.

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Major Companies in the Global Agritourism Market:

• Liberty Hill Farm (United States)
• Harvest Travel International (United States)
• Farm to Farm International (New Zealand)
• STAR Destinations (United States)
• Stita Group (United Kingdom)
• Select Holidays (Canada)
• Agritours Canada Inc. (Canada)
• Kisima Safaris (Kenya)
• Field Farm Tours Limited (United Kingdom)
• Greenmount Travel (Australia)