The global agritourism market was valued at USD 69.24 billion in 2019 and is projected to reach USD 197.37 billion by 2032, growing at a CAGR of 8.88% during the forecast period. Europe led the market in 2019, holding 47.07% of the global share.
The rising inclination of farmers toward entrepreneurship is playing a significant role in shaping the agritourism industry. Governments across various countries are actively implementing strategies to generate revenue from agriculture and tourism, accelerating market expansion. Increasing consumer interest in affordable, sustainable, and nature-based travel is also driving demand. Furthermore, initiatives from governments, associations, and private organizations to introduce new agritourism projects and programs are strengthening industry growth prospects.
Information Source: https://www.fortunebusinessinsights.com/agritourism-market-103297
Key Questions Addressed in the Report
- What are the major factors driving or limiting market growth?
- What opportunities and challenges exist within the sector?
- Which segment will likely dominate over the forecast period?
- Which region is projected to maintain leadership in the future?
- What strategies are companies adopting to advance agritourism?
Market Drivers and Restraints
Farmer Participation Fuels Industry Growth
Agritourism is increasingly becoming an additional revenue stream for farmers as they transform agricultural land into visitor-friendly destinations. According to the U.S. Census of Agriculture, agritourism revenue nearly tripled between 2002 and 2017, underscoring its importance as farmers look to diversify income amidst fluctuating crop yields.
COVID-19 Impact
The COVID-19 pandemic temporarily disrupted agritourism due to global travel restrictions and lockdowns. However, with tourism recovering steadily, the market is expected to regain growth momentum.
Segment Insights
Direct-Market Agritourism to Expand Rapidly
The direct-market segment held 36.06% of the global share, supported by policies encouraging rural economic growth and sales of local farm products. Tourists are increasingly seeking authentic farm-based experiences, particularly those involving fresh and regional produce. Many farms are diversifying their product offerings, which will continue to support this segment.
Regional Outlook
Europe Maintains Leadership with Innovative Promotion
Europe generated USD 32.59 billion in agritourism revenue in 2019 and is expected to retain its dominance. The region’s success is attributed to the growing appeal of educational and recreational farm experiences, both for domestic and international visitors. Strong government backing, diverse offerings, and creative marketing initiatives are reinforcing Europe’s leading position.
Competitive Landscape
Collaborations and Partnerships Drive Market Expansion
The agritourism sector remains fragmented, consisting of both large and small players. Companies are increasingly forming alliances with local startups to enhance their market presence and strengthen farmers’ earnings.
Key Players in the Market:
- Liberty Hill Farm (USA)
- Harvest Travel International (USA)
- Farm to Farm International (New Zealand)
- STAR Destinations (USA)
- Stita Group (UK)
- Select Holidays (Canada)
- Agritours Canada Inc. (Canada)
- Kisima Safaris (Kenya)
- Field Farm Tours Limited (UK)
- Greenmount Travel (Australia)
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Recent Developments
- 2019: Field Farm Tours (UK) organized major international events such as the Devon World Conference, IFMA Pre & Post Tours, World Charolais Congress, Red Poll World Conference, and the 4th World Guernsey Conference, expanding its market footprint.
- January 2017: Stayzilla, an Indian homestay platform, partnered with the Agri Tourism Development Company (ATDC) to promote agritourism homestays, supporting rural tourism initiatives in India.
