Agritourism Market Will Help Agricultural Income Diversify | Global Analysis Size ($62.98 Bn), Growth (13.4%) and Industry Forecast

As per the report published by Allied Market Research, the global agritourism market was pegged at $42.46 billion in 2019, and is projected to reach $62.98 billion by 2027, growing at a CAGR of 13.4% from 2021 to 2027.

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Agritourism offers opportunities for development of rural areas, job creation, boosting local economy, and recreational activities. Government authorities and farmers from Asia, Africa, and North America regions took various initiatives to promote the agritourism sector in different parts in their regions. They allocated budgets and resources to attract tourists and boost the local economy. In addition, they created smartphone apps to connect tourists with farmers and ranch owners. Moreover, the app facilitates the search of different agritourism destinations for tourists.

Following are some of the major activities taking place to promote agritourism across the world.
Allocation of budgets and stocks

Government authorities have been taking steps to promote agritourism activities in their counties, districts, and regions. From allocating budgets to stocks, different initiatives have been taken by provincial tourism departments. An agritourism farm has been inaugurated in Ramian county, northern Golestan province in Iran. The province allocated the budget of 160 billion rials ($608,000) for development of the farm in one hectare. Moreover, it generated job opportunities for five people. In the farm, there are daffodil farms, medicinal plant gardens, fruit trees, and reception hall.

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Along with allocation of budgets for development of farms and promotion of agritourism activities, governments have been offering startup stock to farmers. The Botswana government began a pilot project in which it aims to provide wildlife startup stock for farmers. This stock will be kept in ploughing fields of farmers. Kabelo Senyatso, the Director at Botswana's National Parks and Wildlife, outlined that the stock of five animals per species will be allocated to each farmer. The farmers who are willing to adopt the stock need to meet space, fencing, and water requirements for availing the species they want. As Botswana is one of leading tourism destinations in Africa, this initiative is expected to boost the local economy by providing resources to attract agritourists.

New app to promote agritoursm destinations

Government authorities and foundations have been trying to utilize technology to connect tourists with farmers, ranch owners, and growers. The American Farm Bureau Foundation for Agriculture created an app to showcase agritourism venues and activities. The foundation developed the American Farm Trail app with the sponsorship from Corteva. Farmers and venue owners can create their profile on the app and connect with tourists directly. Tourists can search the area they want to explore through app. Moreover, the search filters in the app enable tourists to search farm products, attraction, and activities. This app is an effort by the foundation to connect tourists directly with agritourism businesses. Moreover, the agritourism businesses will be benefited by promoting their businesses and gaining access directly to consumers.

Key Take Away

The agritourism market was valued at $42,460.3million in 2019, and is estimated to reach $62,982.6 million by 2027, growing at a CAGR of 13.4% during the forecast period.
By activity, the accommodations segment is estimated to witness the fastest growth, registering a CAGR of 18.0% during the forecast period.
In 2019, depending on sales channel, the travel agent segment was valued at $28,678.3 million, accounting for 67.8% of the global agritourism market share.
In 2019, the Italy was the most prominent market in Europe, and is projected to reach $3,351.1 million by 2027, growing at a CAGR of 12.6% during the forecast period.

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The global agritourism market is segmented on the basis of activity, sales channel, and region. Based on activity, the market is divided into on-farm sales, outdoor recreation, agritainment, educational tourism, accommodations, and others. The on-farm sales segment dominated the market in 2019, accounting for nearly three-fifths of the market. However, the accommodations segment is expected to manifest the highest CAGR of 18.0% during the forecast period.

The market is divided into direct and travel agent segments based on outdoor recreation. In 2019, the travel agent industry held the biggest market share, accounting for more than two thirds of the total. The direct segment, however, is anticipated to grow at the highest CAGR of 14.0 percent throughout the projection period.

North America, Europe, Asia-Pacific, and LAMEA are just a few of the regions that are considered in the analysis of the global agritourism industry. During the projection period, the market in Asia-Pacific is expected to exhibit the highest CAGR of 16.9%. But in 2019, the market in North America, which made up about half of the market, held the highest share.

The global agritourism market report includes an in-depth analysis of the major market players including Agricultural Tour Operators International, Bay Farm Tours, Agrilys Voyages, Farm to Farm Tours, Blackberry Farm, LLC, Harvest Travel International, Greenmount Travel, Select Holidays, Field Farm Tours Limited, and Stita Group.

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