Current Scenario of Agritourism Industry by Emerging Trend Regional Insights Growth Opportunities and Future Scope
September 23, 2022
PORTLAND, OREGON, UNITED STATES, September 23, 2022 /EINPresswire.com/ -- Around the world, a sizeable portion of the populace may have little or no interaction with agriculture. As a result, agritourism is crucial in educating this group about farming 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 on-farm tourism. For instance, end users and suppliers (farmers and ranchers) are becoming more interested in agricultural and on-farm nature tourism in California (tourists & consumers of agricultural products and services). As a result, new growth possibilities in the agritourism industry are anticipated over the forecast period.
As per the report published by Allied Market Research, the global agritourism market was pegged at $42.46 billion in 2019, and is projected to reach $62.98 billion by 2027, growing at a CAGR of 13.4% from 2021 to 2027.
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The growth of the worldwide agritourism market is driven by the expansion of the travel and tourism sector, government measures to promote agritourism, and an increase in the adoption of agri-allied businesses. However, inappropriate commercialization of agritourism and a lack of understanding among tourists limit industry expansion. On the other hand, market participants should expect attractive prospects in the future due to the rise in health consciousness that will boost the adoption of agritourism.
Growing demand for family-oriented recreation activities, demand for local food, and experience for farm stays are major attributing factor driving the growth of the Agritourism market. Furthermore, rising curiosity among young minds about the farm and rural activities are creating 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 drastically impacted whole tourism and Agritourism industry, but decreasing cases of corona virus and development and implication of the corona virus vaccination throughout the world is likely to help tourism and Agritourism sector to regain its position
Key Take Away
The agritourism market was valued at $42,460.3million in 2019, and is estimated to reach $62,982.6 million by 2027, growing at a CAGR of 13.4% during the forecast period.
By activity, the accommodations 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, the Italy was the most prominent market in Europe, and is projected to reach $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. Based on activity, the market is divided into on-farm sales, outdoor recreation, agritainment, educational tourism, accommodations, and others. The on-farm sales segment dominated the market in 2019, accounting for nearly three-fifths of the market. However, the accommodations segment is expected to manifest 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 agent industry held the biggest market share, accounting for more than two thirds of the total. The direct segment, however, is anticipated to grow at the highest CAGR of 14.0 percent throughout the projection period.
North America, Europe, Asia-Pacific, and LAMEA are just a few of the regions that are 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 made up about half of the market, held the highest share.
The global agritourism market report includes an in-depth analysis of the 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 wing 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 targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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