Rural Activities Market Held Considerable Market Share During Forecast Period, Growing Fishing industry

According to Precision Business Insights (PBI), the latest report, the rural activities market held considerable market share during the forecast period. The primary drivers of the expansion of the global rural activities market include the growing agriculture segment, advancement in the fishing industry, increasing investment in rural activities, and government schemes and initiatives.

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Fishing Segment to Dominate the Rural Activities Market:
Based on the activity type, the global rural activities market is segmented into fishing, hunting and trapping, forestry and logging, agriculture and forestry services, animal husbandry, and others. The fishing industry held the major market share in the global rural activities market in 2021 and is expected to dominate the market in the forecasted years due to sustainable technology such as drone fishing technology, the surge in protein demand from livestock and fisheries across the world, and increasing seafood supply. However, increase in temperature levels and water pollution is major restraints in the market growth. Many global companies are involved in the development of new technology and methods in the fishing industry indicating a surge in the growth of the rural activities market.

Asia Pacific Rural Activities Market:
The Asia Pacific market is expected to increase in the global rural activities market over the forecast period. The Asia Pacific market is dominating the global market as a result of the large rural populations in developing and under-developing countries in this region. Africa held considerable market share during the estimated period owing to the rural populations, and advanced technology. According to the data from The World Bank, Sub-Saharan Africa's rural population for 2020 was 667,403,145, a 1.69% increase from 2019. Hence, it will drive the global rural activities market growth.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global rural activities market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In June 2022, Japanese giants Mitsubishi and Maruha Nichiro leap into the land-based salmon farming business. In Mar 2021, Olam Food Ingredients, a business unit of Olam International, acquired Olde Thompson from the private equity firm Kainos Capital for approximately $950 million.

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The rural activities market is segmented based on activity type and geography.
Based on the activity type, the market is segmented into the following:
• Fishing
• Hunting and Trapping
• Forestry and Logging
• Agriculture and Forestry Services
• Animal husbandry
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the rural activities market report are Land O'Lakes Inc, Nippon Suisan Kaisha Ltd, Maruha Nichiro Corporation, Olam International, Resolute Forest Products Inc, Rayonier Inc, Weyerhaeuser Company, Stora Enso Oyj, and PotlatchDeltic Corporation.

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This release was published on openPR.