Agritourism Market Trends, Growth, Share, Size and Forecast Research Report 2027

The global agritourism market size is anticipated to exhibit astonishing growth in the near future because of the rising government initiatives to refine agriculture economy through agritourism. This information is given by Fortune Business Insights™, in a recently published report, titled, “Agritourism Market Size, Share & COVID-19 Impact Analysis, By Type (Direct-market, Education & Experience, and Event & Recreation), and Regional Forecast, 2023 – 2028.” The report further mentions that the market size was USD 69.24 billion in 2019 and is projected to reach USD 117.37 billion by 2028, exhibiting a CAGR of 7.42% during the forecast period (2020-2027).

Agritourism is a type of tourism that involves visiting farms, ranches, vineyards, and other agricultural sites to learn about and participate in agricultural activities. Agritourism experiences can include activities such as farm tours, pick-your-own fruit and vegetable operations, wine tastings, farm stays, and educational programs.

Agritourism has become increasingly popular in recent years as consumers have become more interested in where their food comes from and how it is produced. Agritourism can provide farmers with an additional source of income and promote local agriculture and rural development. Additionally, agritourism can help to educate the public about agriculture and the importance of preserving farmland and natural resources.

Agritourism can also have some challenges. Farmers who participate in agritourism need to ensure that they are complying with health and safety regulations and liability concerns. They also need to ensure that they are managing their agricultural operations in a sustainable manner to avoid negative impacts on the environment.

Overall, agritourism can provide a unique and educational experience for tourists while also benefiting farmers and local communities.
Drivers & Restraints-

Transformation of Properties into Agritourism Destinations by Farmers to Aid Growth

Tourism and recreational activities help in generating high revenue for the agricultural farms worldwide. Hence, nowadays, various farm owners are shifting towards transforming their properties into agriculture tourism destinations at a fast pace. This is a major agritourism market growth driver. The Census of Agriculture data, for instance, declared that in the U.S., between the period of 2002 and 2017, these revenues tripled from farms. This proves that investments in the agro-tourism business are surging rapidly as the farmers are suffering huge losses on account of low productivity of crops.


Segments-

Direct-market Agritourism Segment to Gain from Rising Sales of Farm Products

In terms of type, the direct-market segment generated 36.06% in terms of agritourism market share. This growth is attributable to the rising government investments to enhance the agricultural economy. The agencies are aiming to surge sales of farm products to achieve their goals. Many tourists admiring the rural lifestyle are seeking to purchase authentic farm products and services while visiting the farms. It would further help in augmenting the economy of farmers. Since the past few years, several farm owners have been offering a wide range of vegetables, fruits, and other farm-grown products to tourists. This factor would also contribute to the growth of this segment in the coming years.

Regional Analysis-

Europe to Remain at the Forefront Backed by Adoption of Unique Promotional Strategies

Geographically, Europe held USD 32.59 billion in terms of revenue in 2019 and is set to dominate the market throughout the forthcoming years. This growth is mainly attributable to the increasing interest of international and domestic tourists in on-farm agritourism for educational and recreational purposes. In addition to that, the immense governmental support, amplification of product ranges sold at the farms, and state-of-the-art strategies for promoting the sales of farm products and services would contribute to the market growth in this region.


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.</p

Browse Detailed Summary of Research Report:

https://www.fortunebusinessinsights.com/agritourism-market-103297