Summary
Major players in the agritourism market are Agricultural Tour Operators International, Agrilys Voyages, Agriturismo Al Verneto, Bay Farm Tours, Blackberry Farm LLC, Domiruth PeruTravel, Expedia Inc., Field Farm Tours Limited, Kansas Agritourism, Liberty Hill Farm, Missão, Quadrant Australia, Stita Farm Tours, ACT Tours, Monteillet Fromagerie, The Inn at Valley Farms, and Willow-Witt Ranch.
The global agritourism market is expected to grow from $53.23 billion in 2022 to $56.97 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The agritourism market is expected to grow to $73.22 billion in 2027 at a CAGR of 6.5%.
The agritourism market includes revenues earned by entities by providing and organizing services such as wildlife research, horseback riding, cannery tours, cooking lessons, harvest festivals, barn dances, farm stays, guided tours, and petting zoos.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Agritourism refers to a kind of commercial enterprise that integrates agricultural production, processing, and tourism to draw guests to farms, ranches, and other agricultural businesses to entertain and educate the guests while earning cash for the farm, ranch, or business owner. Numerous activities are included in agritourism, allowing farmers to diversify their businesses and increase their income.
North America was the largest region in the agritourism market in 2022. The regions covered in the agritourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main activities of agritourism are on-farm sales, outdoor recreation, agritainment, educational tourism, accommodations, and other activities.The on-farm sales include a company with a license to sell agricultural products on a farm.
The food supply is more transparent when products are sold directly from the farm.Customers get the chance to visit the farm, which fosters the development of loyalty and trust.
The various tour types of agritourism are group travelers and individual travelers that are sold through travel agents and direct channels. The agritourism is suitable for all men, women, and kids.
The increasing government initiative towards agritourism farms is driving the growth of the agritourism market.The prominence of agritourism is proliferating worldwide with the surge in interest for farming activities, products, and innovative practices, along with the launch of new government initiatives.
These initiatives promote the local farming and agriculture activities and aim to provide a much-needed economic boost to local farming, ranching, and other communities related to the agriculture sector.Different government authorities launched their initiatives to provide opportunities for the local agriculture sector by attracting tourists.
For instance, in June 2022, the Irish Minister for Agriculture, Food, and the Marine, Charlie McConalogue, announced to fund €300,000 ($3.06 million) to 19 local agro-food tourism projects. This funding aims to develop agritourism to develop rural areas and provide opportunities for farmers, producers, and artisans to develop their products and services. In September 2021, in India, The Kerala State Government established the Kerala Agri Tourism Network and a state-level training program for skilled labor to enhance farm tourism and provide a further push to the tourism industry in the post-COVID phase. Therefore, such government initiatives towards agritourism farms is expected to propel the growth of agritourism market.
Product innovation is a key trend in agritourism market.Major players that provide agritourism services are focusing on innovative services to attract more customers and enhance their profits.
For instance, in May 2021, Nevis Tourism Authority based in Caribbean island, launched a new “Around the Garden” experience.A park-like design was used to create the 5-acre fruit farm at Cades Bay, where visitors will have access to picnic tables, Wi-Fi, and refreshments.
The new farm tour will be available in two levels, giving guests the choice to select either the 40-minute or 60-minute option. It also includes food tourism to appeal to the growing culinary tourism.
The rising interest of consumers in on-farm tourism or farm stays is driving the agritourism market.Farm stay refers to a residential structure, bed & breakfast, chalet, or other similar lodging used to house short-term visitors on a farm or rural property.
During the COVID-19 pandemic, people chose to live in isolated houses or work from a location where they could enjoy nature.It led to an increase in demand for farm stays.
Farm stays aided agritourism as it allowed people to stay on agricultural land while enjoying recreational activities.For instance, in 2021, according to Airbnb, a US-based vacation rental company that operates as an online marketplace for lodging, primarily homestays for vacation rentals, and tourism activities, when compared to 2019, Airbnb recorded a 1,055% rise in guest searches for "farm stays" in the first quarter of 2021.
Therefore, increasing on-farm tourism or farm stays will propel the agritourism market.
The countries covered in the agritourism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified) .
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.
The agritourism market research report is one of a series of new reports that provides agritourism market statistics, including agritourism industry global market size, regional shares, competitors with an agritourism market share, detailed agritourism market segments, market trends and opportunities, and any further data you may need to thrive in the agritourism industry. This agritourism market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
