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Agritourism Market Expected to Reach $62,982.6 million by 2027
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The agritourism market is set to reach $62.9 billion by 2027, driven by educational tourism and direct sales channels, offering leisure and educational experiences.
According to a new report published by Allied Market Research, titled, “Agritourism Market by Activity and Sales Channel: Opportunity Analysis and Industry 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.
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Agritourism is subset of the rural tourism. It is known by various names, depend on the region and type of farming, such as agriculture tourism, Agrotourism, farm tourism, farm vacation tourism, wine tourism, agritourism, as well as some related terms that are used interchangeably with agritourism or that are complementary to agritourism include nature tourism, rural tourism, alternative farming, wildlife enterprises, ecotourism, Agritainment, heritage tourism, Agri education, and value-added agriculture.
It is generally defend as visiting a working agricultural setting for leisure, recreation or educational purposes. These usually include farm-based recreation activities.
People are getting rid of hectic life style and materialistic & cement world so people are actively finding green world to spend some time.
Agritourism is one of such option where people can find peace and calmness, furthermore, they can involve in farm activates, which can reduce the stress and frustration. There are various activities involved in Agritourism such as agriculture museum & displays, archery, barn dances, bed and breakfast accommodations, cabin living, camping, canning produce, farm cooking contest, farm stores & markets, farm scavenger hunts, heritage trails, and hunting.
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According to agritourism market analysis, the market is segmented into activity, sales channel, and region. On the basis of activity, the agritourism market report is categorized into on-farm sales, outdoor recreation, agritainment, educational tourism, accommodations and others.
By sales channel, it is segregated into travel agents and direct. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific) and LAMEA (Latin America, Middle East, Africa).
According to agritourism market forecast, on the basis of activity, the educational tourism segment was valued at $2,761.5 million in 2019, and is projected to reach $4,548.6 million by 2027, registering a CAGR of 14.9% from 2021 to 2027. This is attributed to the fact that agriculture universities and non- agricultural universities are progressively involving in providing agriculture related educational experience.
Some courses in agriculture universities are compulsory subjects to study Agritourism and compulsory for every agriculture college to arrange one tour to nearby Agritourism center. This collectively attributes to upsurge agritourism market growth through educational tourism segment.
For instance, Savitribai Phule Agriculture University, Rahuri, Pune India, Conduct, RAWE (Rural Agriculture Work Experience) program in which the students primarily to understand the rural situations, status of agricultural technologies adopted by farmers, study Agritourism, visiting wine processing units, prioritize the farmer’s problems, and to develop skills & attitude of working with farm families for overall development in rural area.
According to agritourism market trends, on the basis of sales channel, the direct segment is estimated to reach $21,314.4 million by 2027, at a CAGR of 14.0%. Direct segment of the sales channel in Agritourism is gaining significant traction among the people.
This is majorly attributed to growing use of internet, smartphones, and availability of the platforms where people can find information and booking facilities. Internet is actively used to promote Agritourism sites through farm owner and agriculturist.
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Region wise, Asia-Pacific has been gaining considerable traction in the Agritourism market and is expected to grow at a highest CAGR during the forecast period. Asia-Pacific is very well blessed with natural surrounding and suitable agriculture climatic conditions.
Many countries in Asia-Pacific have backboned agriculture sector such as India and China. Diversification of the farm activities is majorly considering in Asia-Pacific as decreasing soil productivity and insufficient income form farm are making farmers to think to start adjacent business related to agriculture.
Availability of farm, cattle’s, green area, and nature surrounded places, adequate rural resources and emerging concept of Agritourism and government subsidies and technical support are promoting the growth of the market in Asia-Pacific. For instance, in September 2020, the Government of India passed the agri-tourism policy of Maharashtra, this will invigorate the rural sector and agricultural practitioners with a steady source of an alternative income and an alternative employment through tourism like farm stays.
The players operating in the agritourism industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market and gain agritourism market opportunities. The key players profiled in this report include Agricultural Tour Operators International, Agrilys Voyages, Bay Farm
Key findings of the study
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.
The article discusses the growth and forecast of the agritourism market, expected to reach $62.9 billion by 2027.
Activities include farm-based recreation, educational tourism, and agritainment, among others.
The direct sales channel is gaining significant traction due to increased internet and smartphone use.
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