Government initiatives promoting agritourism to bolster the agricultural economy are anticipated to drive substantial growth in the global agritourism market in the coming years. According to Fortune Business Insights™ in the report, Agritourism Market Size, Share & Industry Analysis, By Type (Direct-market Agritourism, Education & Experience Agritourism, and Event & Recreation Agritourism), and Regional Forecast, 2020 – 2032, the agritourism market revenue was valued at USD 69.24 billion in 2019 and is projected to expand at a compound annual growth rate (CAGR) of 8.88% from 2020 to 2032.
Agritourism combines agriculture with tourism, offering a variety of leisure and entertainment activities, including experiences such as:
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Farm Tourism: Visiting active farms to gain insights into agricultural practices.
Agricultural Tourism: Participating in farm-related activities and immersing in agricultural life.
Sustainable Agriculture: Learning about environmentally friendly and sustainable farming methods.
Village Tourism: Discovering rural traditions, lifestyle, and culture.Agritourism offers a wide range of activities, such as barn dances, bike trails, bird watching, breweries, corn mazes, flower cutting, farm-to-table food competitions, farm shops, and herb walks. As people look for creative ways to relax and escape city life, agritourism provides a unique chance to experience farming, connect with rural communities, and enjoy peaceful, green spaces.
Information Source: https://www.fortunebusinessinsights.com/agritourism-market-103297
Fortune Business Insights™ presents a list of all the prominent companies operating in the global market. They are as follows:
- 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
Drivers & Restraints-
Farmers Convert Properties into Agritourism Attractions to Promote Growth
Globally, tourism and recreational activities contribute significantly to farm income, leading many farmers to transform their properties into agritourism destinations. This trend is a key driver of growth in the agritourism industry. For example, Census of Agriculture data shows that U.S. farm revenues from agritourism tripled between 2002 and 2017, highlighting the rapid increase in agritourism investments. This shift occurs even as farmers face financial challenges due to lower agricultural yields, underscoring the sector’s role as a financial boost for farming communities.
Segment-
Direct-market Agritourism Segment to Gain from Rising Sales of Farm Products
The direct-market agritourism segment accounted for 36.06% of the agritourism market share, driven largely by increasing government investments aimed at strengthening the agricultural economy. These investments focus on boosting farm product sales to support economic growth goals. Tourists drawn to rural lifestyles often seek out authentic farm products and services, which supports local farmers economically. In recent years, many farm owners have expanded their offerings to include a variety of fresh vegetables, fruits, and other farm-grown products, further fueling the growth of this segment. This trend is expected to continue in the years ahead..
Regional Analysis-
Europe will continue to lead thanks to the implementation of novel marketing techniques.
In 2019, Europe generated USD 32.59 billion in agritourism sales and is projected to maintain its leading position in the industry. This growth is primarily driven by the rising appeal of on-farm agritourism among both domestic and international tourists for leisure and educational purposes. Additionally, the market in this region is expected to expand further due to robust government support, farmers’ diversification of product offerings, and their adoption of innovative marketing strategies to boost sales of agricultural products and services.
Competitive Landscape-
Key Companies Engage in Collaborative Efforts to Gain Competitive Edge
The market is highly fragmented with the presence of numerous small, medium, and large sized companies operating from various parts of the world. They are mainly focusing on collaborating with local start-ups to promote their businesses and generate more income for the farmers. Below are two of the significant industry developments:
- 2019: Field Farm Tours, specialist in the organization of farming based tours worldwide headquartered in the U.K., organized the Devon World Conference, IFMA Pre & Post Tours, World Charolais Congress, Red Poll World Conference, and the 4th World Guernsey Conference to accelerate its revenue and strengthen their position.
- January 2017: Stayzilla, a homestay network in India, joined hands with the Agri Tourism Development Company (ATDC) to promote agritourism home stays in the country. It would help the company in broadening its footprint in the field of rural tourism.
This Report Answers the Following Questions:
- What are the growth drivers and obstacles in this market?
- What are the opportunities and challenges in this market?
- Which segment is expected to lead in the coming years?
- Which region is anticipated to dominate in the near future?
- Which strategies are being adopted by companies to promote agro-tourism?
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