PORTLAND, OREGON, UNITED STATES, Sept. 23, 2022 /EINPresswire.com/ — Around the world, a significant portion of the population may have little or no interaction with agriculture. As a result, agritourism is vital in educating this group about agricultural practices and crop development. One way for non-farmers to learn about agriculture and support family farms by purchasing their goods directly or through intermediaries is through farm tourism. For example, end users and suppliers (farmers and ranchers) are increasingly interested in agritourism and nature in California (tourists and consumers of agricultural products and services). As a result, new growth opportunities are expected in the agritourism industry during the forecast period.
According to the report published by Allied Market Research, the global agritourism market was valued at USD 42.46 billion in 2019 and is projected to reach USD 62.98 billion by 2027, growing at a CAGR of 13.4% from 2021 until 2027.
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The growth of the global agritourism market is driven by the expansion of the travel and tourism sector, government measures to promote agritourism, and increasing adoption of agribusinesses. However, inappropriate commercialization of agritourism and lack of understanding among tourists limit the expansion of the industry. On the other hand, market participants should expect attractive prospects in the future due to increasing health consciousness that will boost the adoption of agritourism.
Growing demand for family oriented leisure activities, demand for local food and farm stay experience is the major factor driving the growth of agritourism market. Moreover, the growing curiosity among the youth about farm and agricultural activities is creating a demand for Agritourism facilities. Agritourism is one such way, where people can find peace and relaxation, which they hardly find in urban areas. Covid-19 has drastically affected the entire tourism and agritourism industry, but the decline in coronavirus cases and the growth and impact of the coronavirus vaccination around the world are likely to help tourism and agritourism recover. their
Key Take Away
The agritourism market was valued at USD 42,460.3 million in 2019 and is estimated to reach USD 62,982.6 million by 2027, registering a growth of 13.4% during the forecast period.
By activity, the accommodation segment is estimated to witness the fastest growth, registering a CAGR of 18.0% during the forecast period.
In 2019, depending on sales channel, the travel agent segment was valued at $28,678.3 million, accounting for 67.8% of the global agritourism market share.
In 2019, Italy was the most prominent market in Europe and is projected to reach USD 3,351.1 million by 2027, growing at a CAGR of 12.6% during the forecast period.
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The global agritourism market is segmented on the basis of activity, sales channel and region. On the basis of activity, the market is segmented into on-farm sales, outdoor recreation, agriculture, educational tourism, accommodation, and others. The on-farm sales segment dominated the market in 2019, accounting for nearly three-fifths of the market. However, the accommodation segment is expected to show the highest CAGR of 18.0% during the forecast period.
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The market is divided into direct and travel agent segments based on outdoor recreation. In 2019, the travel agency industry held the largest market share, accounting for over two-thirds of the total. The direct segment, however, is expected to grow at the highest CAGR of 14.0 percent throughout the projection period.
North America, Europe, Asia Pacific and LAMEA are just some of the regions considered in the analysis of the global agritourism industry. During the projection period, the market in Asia Pacific is expected to exhibit the highest CAGR of 16.9%. But in 2019, the market in North America, which constituted about half of the market, held the highest share.
The global agritourism market report includes an in-depth analysis of major market players including Agricultural Tour Operators International, Bay Farm Tours, Agrilys Voyages, Farm to Farm Tours, Blackberry Farm, LLC, Harvest Travel International, Greenmount Travel, Select Holidays, Field Farm Tours Limited and Stita Group.
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Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of ‘Market Research Reports’ and ‘Business Intelligence Solutions’. AMR has a focused view of providing business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market sector.
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