May 18, 2024
Agritourism Market

Agritourism Market Is Set For Strong Growth Amid Rising Demand For Rural Tourism Experiences

The agritourism market offers a wide range of activities related to farm visits, including harvesting vegetables and fruits, feeding animals, picking fresh produce, guided farm tours, and educational tours for school groups. It provides people an opportunity to experience agricultural activities and reconnect with nature.

The global agritourism market is estimated to be valued at US$17.51 billion in 2024 and is expected to exhibit a CAGR of 11% over the forecast period of 2024 to 2031.

Key Takeaways

Key players operating in the agritourism market are Field Farm Tours Limited, Farm to Farm Tours, Bay Farm Tours., Star Destinations, Expedia, Inc., Select Holidays, Green mount Travel., Blackberry Farm, LLC., GTI Travel, Kansas Tourism, Trump Tours Inc., Tour De Farm, Kisan Eco Farm and Farm Stay, Liberty Hill Farm, Harvest Travel International, Farm to Farm International, STAR Destinations, Stita Group, Select Holidays, and Agritours Canada Inc. Key players are focused on enhancing customer experience through offering a diverse range of activities and increasing their digital presence.

The key opportunities in the Agritourism Market Growth include increasing popularity of rural and farm tourism among millennials and generation Z, government initiatives and funding to promote rural tourism, and growth of online booking platforms. Asia Pacific region is expected to witness highest growth in the agritourism market during the forecast period due to rapid economic development, increasing disposable incomes, and rising tourism prospects in countries like India and China.

Global expansion of agritourism is driven by increasing preference for experiential and recreational tourism activities. The market has high growth potential in developing regions due rising interest in rural lifestyle and farming activities. Agritourism helps diversify farm income and expose urban populations to agricultural practices.

Market Drivers

The major driver for the growth of the agritourism market is the increasing demand for unique and authentic tourism experiences among travelers. People are seeking deeper immersion in rural lifestyle and culture through agritourism activities. Another key factor is the health benefits of agritourism. Spending time in farm environments and engaging in agricultural activities has positive effects on mental well-being and reduces stress levels. This drives more people to opt for agritourism vacations.

PEST Analysis

Political: The agritourism market is regulated by various agriculture and tourism related policies of governments across regions. These policies aim to promote rural development and boost farm incomes through agritourism activities.
Economic: A steady rise in disposable incomes and higher spending across millennials on experiential travel is positively impacting the agritourism industry. Experiences offered through agritourism help in supplementing farm incomes.
Social: Increased interest of urban population in learning about rural life and farming has augmented social acceptance of agritourism. It helps in educating people about sustainable agriculture and local foods.
Technological: Advancements in digital platforms help operators in effective promotion and online bookings for agritourism activities. Technologies also aid in improving visitor experience through virtual/augmented reality based educational tours.

The North American region leads in terms of value share in the agritourism market. Countries like the US and Canada have a strong presence of agritourism operators benefiting from growing domestic tourism. Europe is another major regional market led by countries such as Italy, France and Germany. The Asia Pacific region is recognized as the fastest growing for the agritourism market with countries like India and China emerging as lucrative markets. Growing tourism along with government focus on rural livelihoods through agritourism are factors augmenting the industry in developing Asian countries.

In terms of value, the Western European region accounted for a sizable share of the overall agritourism market in 2024. Countries like Italy, France, Germany and the UK have established agritourism industries attracting both domestic and international tourists. The high spending power of Western European populations exploring rural experiences is a key factor for the region’s concentration of agritourism revenue.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.