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Agritourism Market Size to Hit $17.51 billion by 2031: Coherent Market Insights

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News provided by

Coherent Market Insights

13 Jun, 2024, 15:22 GMT

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BURLINGAME, Calif., June 13, 2024 /PRNewswire/ -- The global agritourism market size was estimated at USD 8.23 billion in 2024 and is expected to reach around USD 17.51 billion by 2031, registering a CAGR of 11.4% between 2024 and 2031, as per a recent report by Coherent Market Insights. The global agritourism market is expected to witness significant growth over the forecast period owing to the growing interest of people in farm-based recreational activities. Agritourism provides an opportunity for farmers to diversify their income by engaging visitors in various on-farm activities. It also helps educate city dwellers about agricultural practices.

Request Sample Report: https://www.coherentmarketinsights.com/insight/request-sample/6876

Market Dynamics:

The agritourism market is primarily driven by the increasing demand for leisure activities and farming experiences. Agritourism offers leisure activities such as harvesting seasonal crops, feeding farm animals, apple/berry picking, hiking/biking trails, and educational tours which attracts large number of tourists every year. Additionally, increasing popularity of farm stays and rural tourism experiences is another factor fueling the market growth. For instance, according to the United States Farm Stay Association, over 2 million people visit farms for overnight stays annually in the U.S.

Agritourism Market Report Coverage

Report Coverage

Details

Market Revenue in 2024

$8.23 billion

Estimated Value by 2031

$17.51 billion

Growth Rate

Poised to grow at a CAGR of 11.4%

Historical Data

2019–2023

Forecast Period

2024–2031

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Activity, By Sales Channel

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Growth Drivers

  • Seeking Authentic Experiences
  • Educating Future Generations

 

Restraints & Challenges

  • Consolidation, Climate Change, Zoning, and Compliance
  • Lack of Funding and Startup Capital

 


Market Trends:

The agritourism market is witnessing trend of experiential travel wherein tourists prefer interactive and educational activities over passive forms of entertainment. Tourists increasingly want to engage in fun activities that allow them to learn about farming practices and rural lifestyle. Some of the popular agritourism activities adopted by farms include corn mazes, pumpkin patches, educational workshops on sustainable farming, and winery tours. Additionally, growth in online booking of agritourism activities is another notable trend in the market. Several online travel agencies and platforms are offering agritourism packages and experiences to tourists, thus making the booking process more convenient. This has significantly boosted the annual visitor numbers for agritourism destinations.

Immediate Delivery Available | Buy This Premium Research Report: https://www.coherentmarketinsights.com/insight/buy-now/6876

Market Opportunities:

On-farm sales include activities like u-pick operations, on-farm stores and farmers markets that allow tourists to purchase locally grown and produced foods directly from the farm. This provides an additional revenue stream for farmers and promotes local food experiences. On-farm sales are a popular low-cost way for agritourism operators to attract visitors and generate income from agriculture.

Many farms offer outdoor recreation activities like hiking, fishing, horseback riding, hunting, zip lining etc. to attract tourists. This provides visitors with opportunities for active entertainment while learning about farming and rural life. Outdoor recreation has grown in popularity as an agritourism activity especially among families and outdoor enthusiasts looking for unique experiential getaways. Revenue from entrance/activity fees and ancillary spending on food, souvenirs etc. enhances farm income.

Key Market Takeaways

The global agritourism market size is anticipated to reach USD 17.51 Bn by 2031, expanding at a CAGR of 11.4% during the forecast period. Rising interest in authentic rural experiences, local foods and outdoor recreation is fueling demand for agritourism.

By activity, the outdoor recreation segment is expected to dominate the market owing to growing preference for active entertainment options during vacations. Within outdoor recreation, entertainment activities like zip lining, horseback riding and hunting tours are gaining popularity.

On the basis of sales channel, the direct sales segment is anticipated to hold a major market share due to advantages like direct marketing and control over pricing for farm operators.

Regionally, North America is projected to lead the agritourism industry through 2030 because of strong branding of destinations, robust farm infrastructure and rising demand for niche travel experiences in the US and Canada.

Key players operating in the global agritourism market include Farm to Farm Tours, Bay Farm Tours, Harvest Hosts, Butters Farm, and Blackberry Farm. Industry players are focusing on differentiated offerings, digital marketing and strategic partnerships to boost revenues.

Recent Developments:

In March 2022, as a team initiative, "Blackberry Gives" encourages employees across the Blackberry family of brands to give back to the community through team participation in service hours, need collection, and volunteering. Blackberry team members collected more than 770 pounds of food to give to Second Harvest Food Bank. Blackberry matched the team's effort, bringing 1,600 pounds of food, resulting in more than 1,400 meals for East Tennessee families in need.

In January 2022, The Blackberry Farm Foundation announced its 2022 grant recipients, donating more than USD 170,000 to charities in Blount County.

Customize this study as per your requirement: https://www.coherentmarketinsights.com/insight/request-customization/6876

Market Segmentation

By Activity:

    • On-farm Sales
    • Outdoor Recreation
    • Entertainment
    • Educational Tourism
    • Accommodations
    • Others

By Sales Channel:

    • Travel Agents
    • Direct Sales

By Regional:

North America:

    • U.S.
    • Canada

Latin America:

    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America

Europe:

    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe

Asia Pacific:

    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific

Middle East:

    • GCC Countries
    • Israel
    • Rest of Middle East

Africa:

    • South Africa
    • North Africa
    • Central Africa

Browse More Insights:

GCC Ecotourism Market: The Ecotourism in GCC market is estimated to be valued at US$ 519.01 million in 2021 and is expected to exhibit a CAGR of 3.3% % over the forecast period (2021-2028).

Wildlife Hunting Tourism Market: The global wildlife hunting tourism market was valued at US$ 369.6 Mn in 2022 and is expected to reach US$ 1,775.7 Mn by 2030, exhibiting a CAGR of 21.7% during the forecast period.

Business Tourism Market: Global business tourism market is estimated to be valued at USD 900.58 Bn in 2024 and is expected to reach USD 1,678.27 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.3% from 2024 to 2031.

Cultural Tourism Market: The cultural tourism market is estimated to be valued at USD 6,952.53 Mn in 2024 and is expected to reach USD 17,720.11 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 14.3% from 2024 to 2031.

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

Contact Us:
Mr. Shah
Senior Client Partner – Business Development
Coherent Market Insights
Phone: 
US: +1-206-701-6702
UK: +44-020-8133-4027
Japan: +81-050-5539-1737
India: +91-848-285-0837
Email: sales@coherentmarketinsights.com
Website: https://www.coherentmarketinsights.com
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/902389/Coherent_Market_Insights_Logo.jpg

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