$62,982.6 Million Agritourism Market to Grow at 13.4% CAGR During 2021 to 2027
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220U, UNITED STATE, January 29, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Agritourism Market by in Activity and Sales Channel: Industry Opportunity Analysis and Forecast, 2021–2027,” the global agritourism market size is expected to reach $62,982.6 million by 2027 at a CAGR of 13.4% from 2021 to 2027.
Agritourism is a subset of rural tourism. It is known by different names, depending on the region and type of farming, such as agricultural tourism, Agrotourism, farm tourism, farm vacation tourism, wine tourism, agritourism, as well as some related terms that are used in exchange for agritourism or that. Complementary agritourism includes nature tourism, rural tourism, alternative farming, wildlife enterprises, ecotourism, Agritainment, heritage tourism, Agri education, and value-added agriculture. It is usually defended as a visit to a working agricultural estate for leisure, entertainment or educational purposes. These usually include farm-based recreational activities. This is the emerging concept of the tourism industry, which is gaining opportunistic ground in terms of traveler awareness, media exposure, and adoption by agriculturalists looking for different streams of income. Stress, frustration, and mental illnesses such as depression are some of the problems faced by people in the city. People are getting rid of the harsh life style and materialistic and concrete world so people are actively looking for green world to spend time. Agritourism is one of the options where people can find peace and calm, in addition, they can participate in farm activities, which reduce stress and frustration. There are various activities associated with the Agriturismo such as agriculture museum & displays, archery, barn dances, bed and breakfast accommodation, cabin living, camping, canning produce, farm cooking contest, farm stores & markets, farm scavenger hunts, heritage trails , and hunting. These types of innovative activities are increasingly attracting tourists especially family groups and students, which is expected to boost the growth of the Agritourism market during the forecast period.
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According to the agritourism market analysis, the market is segmented by activity, sales channel, and region. On the basis of activity, the agritourism market report is categorized into on-farm sales, outdoor recreation, agriculture, educational tourism, accommodation and others. Through the sales channel, it is separated by travel agents and directly. Region wise, it is analyzed across North America (US, Canada, and Mexico), Europe (Germany, UK, France, Russia, Italy, Spain, etc. in Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and other parts of Asia-Pacific) and LAMEA (Latin America, Middle East, Africa).
According to the agritourism market forecast, based on activity, the education tourism segment was valued at $2,761.5 million in 2019, and is expected to reach $4,548.6 million in 2027, registering a CAGR of 14.9% from 2021 to 2027. This is due to the fact that agricultural universities and non-agricultural universities are gradually involved in providing educational experience related to agriculture. Some courses in agricultural universities are compulsory subjects to study Agritourism and it is obligatory for each agricultural college to arrange a tour of the nearest Agritourism center. This has collectively led to an increase in the growth of the agritourism market through the education tourism segment. For example, Savitribai Phule Agriculture University, Rahuri, Pune India, Conduct, RAWE (Rural Agriculture Work Experience) program where students first understand rural situations, status of agricultural technologies adopted by farmers , Agriturismo studies, visits to wine processing units, prioritize farmers’ problems, and to develop the skills and attitude to work with farm families for the overall development of the rural area.
According to agritourism market trends, based on sales channel, the direct segment is estimated to reach $21,314.4 million by 2027, at a CAGR of 14.0%. The direct part of Agriturismo’s marketing channel is gaining significant traction with people. This is mainly attributed to the growing use of the internet, smartphones, and the availability of platforms where people can find information and book facilities. The Internet is actively used to promote Agriturismo sites by farm owners and agriculturists. In addition, various companies operating in the tourism industry are exploring their share of agritourism and ecotourism and providing platforms to book their Agritourism packages to people. Internet platforms such as booking.com, Airbnb, and individual websites operated by Agritourism are used to book holidays and vacation packages by customers. People also go directly to the offices of Agritourism providing companies and book their holiday tour.
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Region-wise, Asia-Pacific has gained significant traction in the Agritourism market and is expected to grow at the highest CAGR during the forecast period. Asia-Pacific is very well blessed with natural environment and suitable climatic conditions for agriculture. Many countries in Asia-Pacific support the agricultural sector such as India and China. Diversification of farm activities is the main consideration in Asia-Pacific because the decrease in land productivity and insufficient farm income make farmers think of starting adjacent business that related to agriculture. The availability of farms, cattle, green areas, and nature surrounded areas, sufficient rural resources and the emerging concept of Agriturismo and government subsidies and technical support promote the growth of the Asia-Pacific market. For example, in September 2020, the Government of India passed the agri-tourism policy in Maharashtra, it will revitalize the rural sector and agricultural practitioners with a steady source of an alternative income and an alternative job through tourism as to stay on the farm. Local cuisine and cultural aspects can be enjoyed by visitors, people visiting rural areas need accommodation. Growing tourism in Asia-Pacific is further expected to increase the growth of the Agritourism market during the forecast period. For example, according to the report published by the World Tourism Organization, 2019, the Asia and Pacific region has a 25% share of international tourist arrivals, accounting for 348 million tourist arrivals.
Players operating in the agritourism industry are adopting product launch and business expansion as their primary development strategies to expand their market share, increase profitability, and remain competitive in the market and gain opportunities. in the agritourism market. Key players profiled in this report include Agricultural Tour Operators International, Agrilys Voyages, Bay Farm Tours, Blackberry Farm, LLC, Farm To Farm Tours, Greenmount Travel, Harvest Travel International, Field Farm Tours Limited, Select Holidays, and Stita Group.
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Main findings of the study
The agritourism market was valued at $42,460.3 million in 2019, and is estimated to reach $62,982.6 million in 2027, growing at a CAGR 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 the sales channel, the travel agent segment was worth $28,678.3 million, accounting for 67.8% of the global agritourism market share.
In 2019, Italy is the most popular market in Europe, and is expected to reach $3,351.1 million in 2027, growing at a CAGR of 12.6% during the forecast period.
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