Agritourism Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Agritourism Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Agritourism Market

The agritourism market size was valued at USD 69.24 billion in 2019, and the market is now projected to grow to USD 197.37 billion by 2032, exhibiting a CAGR of 8.88% during the forecast period of 2019-2032.

Government has put restrictions on social gatherings, events and moving out from home which make the people homesick. Numerous companies are encountering hurdles due to covid pandemic as the outbreak situation has curtailed production and supply chain which has hindered the market switched to treating covid patients as priority over the other procedures which led the agritourism market growth. Additionally, manpower shortages affected manufacturing plants and slowed production due to movement restrictions and lockdowns in several regions. The pandemic has also had a negative impact on facial recognition door lock manufacturing and production facilities. The disruption in the supply chain and the decreased availability of labor, staff, and resources are the causes of this. The market is expected to grow slowly. However, subject to the treatment segment returning to its regular operations, the product demand will gradually revert to its historical estimations as lockdown requirements are gradually relaxed.

Governmental support for agritourism is projected to promote agritourism market growth during forecast period. Governments in various economies are working on boosting the agriculture economy by encouraging agritourism, which is expected to be a key growth driver for the industry.

Increasing demand for agri-food tourism is emerging as an important market trend. Agri-food tourism is gaining popularity in many towns and developing rapidly. Agri-food tourism has the potential to significantly increase profits and profitability for agritourism farm owners while also promoting their regional or local cuisines. Agri-food tourism allows travelers to see rural areas and farms while tasting specialized foods produced or prepared by the inhabitants. Agri-food tourism enables agrotourism farms to showcase their history, culture, and scenery via local cuisine, food and beverages, and agricultural products. Furthermore, agri-food tourism allows producers, craftspeople, and farmers to improve their skills and promote their brands and goods to both local and international visitors. Furthermore, rapid urbanization and increasingly hectic lifestyles have shifted consumer spending habits, igniting urban residents' interest in fresh-produced food and rural and farm life, thereby contributing significantly to the global growth of agritourism.

Comprehensive Analysis of Agritourism Market

The agritourism market and Agriculture industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by types. The Type segmentations include Direct-market, Education & Experience, and Event & Recreation.

The Europe region lead the agritourism market by benefitting a market size of USD 32.59 billion in 2019 due to Governmental support for agritourism and Increasing demand for agri-food tourism.

The top players in the market play a crucial role in the agriculture industry assuring industrial prospectus growth and setting market standards. These players include, Liberty Hill Farm - United States, Harvest Travel International – United States, Farm to Farm International – New Zealand, STAR Destinations – United States, Stita Group – United Kingdom, Select Holidays – Canada, Agritours Canada Inc. – Canada, Kisima Safaris – Kenya, Field Farm Tours Limited – United Kingdom, Greenmount Travel – Australia these market players provide a level-playing competitive landscape.

In August 2023, The Pacific Agritourism Conference, hosted by members of the Global Agritourism Network Pacific Committee and the Global Sustainable Tourism Council, aims to promote agritourism in the Pacific by incorporating indigenous voices.

Segmentation Table

TTRIBUTEDETAILS

Study Period2016-2027

Base Year2019

Forecast Period2020-2027

Historical Period2016-2018

UnitValue (USD Billion)

SegmentationBy Type

Direct-market

Education & Experience

Event & Recreation

By Region

North America (U.S., Canada, and Mexico)

Europe (Italy, United Kingdom, Germany, France, Austria, and the Rest of Europe)

Asia-Pacific (China, India, Japan, Australia, and the Rest of Asia-Pacific)

South America (Brazil, Argentina, and the Rest of South America)

Middle East & Africa (South Africa, UAE, and the Rest of the MEA)


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