Agritourism market size will be worth $111.1 billion by 2032

Agritourism market

According to a new report published by Allied Market Research, entitled ‘Agritourism Market’, the size of the agritourism market was estimated at US$33.8 billion in 2022, and is estimated to reach US$111.1 billion by 2032, growing by CAGR of 12.5% ​​between 2023 and 2023. 2032. The report provides a detailed analysis of key investment areas, key winning strategies, drivers and opportunities, market size and estimates, competitive landscape and changing market trends.

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Agrotourism is a subgroup of rural tourism. It is known by different names depending on the region and type of agriculture, such as agricultural tourism, agritourism, farm tourism, farm holiday tourism, wine tourism, as well as some related terms used interchangeably with agritourism or complementary to agritourism, including nature tourism , rural tourism, alternative agriculture, nature businesses, ecotourism, agritainment, heritage tourism, agri-education and value-added agriculture. It is generally defined as visiting a working agricultural environment for leisure, recreational or educational purposes.

Agrotourism, a fast-growing sector, offers a unique combination of agriculture and tourism. The growth is driven by several key industry trends and growth drivers. First, the desire for authentic experiences has led to increased demand, with travelers seeking hands-on farm-to-table encounters. Furthermore, in line with sustainability and ecotourism trends, many agrotourism destinations are emphasizing environmentally responsible practices, further attracting conscientious tourists. The rise of food tourism also contributes significantly to the success of agrotourism, allowing visitors to enjoy culinary experiences such as wine tasting in vineyards or cheese making on dairy farms. The sector’s educational and recreational offering targets a wide range of tourists, from families to retirees, promoting a deeper appreciation for agriculture.

According to the agritourism market analysis, the agritourism market is segmented into activity, sales channel and region. Based on activity, the agritourism market report is segmented into farm sales, outdoor recreation, agritainment, educational tourism, accommodation, and others. By sales channel it is divided into travel agencies and direct. Regionally, it is analyzed in North America (USA, Canada and Mexico), Europe (Germany, UK, France, Russia, Italy, Spain and the rest of Europe), Asia-Pacific (China, Japan, Australia, India , South Korea and the rest of Asia Pacific) and LAMEA (Latin America, Middle East, Africa).

By activity, the market is classified into farm sales, outdoor recreation, agritainment, educational tourism, accommodation and others. The on-farm sales segment accounted for a major market share in agritourism in 2022 and is expected to grow at a significant CAGR during the forecast period. This is attributed to the gradual involvement of agricultural and non-agricultural universities in providing agricultural-related educational experience. Some courses at agricultural universities are compulsory subjects to study agrotourism and for each agricultural university it is mandatory to organize one tour to the nearby agritourism center. This jointly ensures that demand on the agritourism market through the educational tourism segment increases.

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The market is divided per sales channel into travel agencies and direct. The travel agency segment accounted for a major share of the agritourism market in 2022 and is expected to grow at a significant CAGR during the forecast period. The direct segment of the sales channel in agritourism is gaining significant popularity among the people. This is largely attributed to the increasing use of the internet, smartphones and the availability of platforms where people can find information and booking facilities. The Internet is actively used to promote agrotourism sites through farm owners and farmers.

Based on region, North America had the highest market share in terms of revenue in 2022, accounting for almost half of global agritourism market revenues. The wide penetration of agrotourism services in the US, Canada and Mexico acts as a catalyst in creating dominance. Growing consumer demand for economical, nature-based and sustainable tourism among tourists acts as a crucial driving force for the market. First, there is a growth in the prevalence of gluten-related conditions, such as celiac disease, in the region. Furthermore, the LAMEA region is expected to witness the fastest CAGR of 14.4% between 2023 and 2032 and is likely to dominate the market during the forecast period. The growth in disposable income and the restoration of economic stability of the countries in the African region are likely to increase the growth of the LAMEA agricultural tourism market during the forecast period. Latin America and Africa are well occupied by natural environment such as rivers and mountains.

The players operating in the agritourism sector have adopted product launch and business expansion as their key development strategies to expand their market share, increase profitability and remain competitive in the 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.

Key benefits for stakeholders:

> This report provides a quantitative analysis of the market segments, current trends, estimates and dynamics of the agritourism market analysis from 2022 to 2032 to identify the prevailing opportunities in the agritourism market.
> The market research is presented together with information on the key drivers, constraints and opportunities.
> Porter’s Five Forces Analysis highlights the potential of buyers and suppliers to empower stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
> An in-depth analysis of the agritourism market segmentation helps in determining the prevailing market opportunities.
> Key countries in each region are mapped based on their revenue contribution to the global market.
> Positioning of market players facilitates benchmarking and provides clear insight into the current position of the market players.
> The report includes the analysis of regional and global agrotourism market trends, key players, market segments, application areas and market growth strategies.

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Reasons to Buy This Agritourism Market Report:

• Provide strategically important information, analysis and insights about competitors to formulate effective R&D strategies.
• Recognize emerging players with a potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
• Classify potential new customers or partners in the target group.
• Develop tactical initiatives by understanding the focus areas of leading companies.
• Plan mergers and acquisitions in a creditable manner by identifying top manufacturers.
• Develop and design in- and out-licensing strategies by identifying potential partners with the most attractive projects to enhance and expand business potential and scope.
• The report will be updated with the latest data and delivered to you within 2-4 working days of ordering.
• Suitable for supporting your internal and external presentations with reliable, high-quality data and analyses.
• Create regional and country strategies based on local data and analysis.

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