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Agritourism Market to Hit $62,982.6 Million by 2027, Growing At 13.4% CAGR from 2021 to 2027
Agritourism Market
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Agritourism is one of such option where people can find peace and calmness, furthermore, they can involve in farm activates, which can reduce the stress and frustration. There are various activities involved in Agritourism such as agriculture museum & displays, archery, barn dances, bed and breakfast accommodations, cabin living, camping, canning produce, farm cooking contest, farm stores & markets, farm scavenger hunts, heritage trails, and hunting. These kinds of innovative activities are increasingly attracting tourist specially family and student groups, which is expected to boost the growth of the Agritourism market during the forecast period.
Increase in travel and tourism industry, government initiatives toward agritourism, and increase in adoption of agri-allied business drive the growth of the global agritourism market. However, lack of awareness among tourists and improper commercialization of agritourism hamper the market growth. On the contrary, rise in health consciousness to support adoption of agritourism is expected to create lucrative opportunities for the market players in the future.
According to agritourism market analysis, the market is segmented into activity, sales channel, and region. On the basis of activity, the agritourism market report is categorized into on-farm sales, outdoor recreation, agritainment, educational tourism, accommodations and others. By sales channel, it is segregated into travel agents and direct. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific) and LAMEA (Latin America, Middle East, Africa).
According to agritourism market forecast, on the basis of activity, the educational tourism segment was valued at $2,761.5 million in 2019, and is projected to reach $4,548.6 million by 2027, registering a CAGR of 14.9% from 2021 to 2027. This is attributed to the fact that agriculture universities and non- agricultural universities are progressively involving in providing agriculture related educational experience. Some courses in agriculture universities are compulsory subjects to study Agritourism and compulsory for every agriculture college to arrange one tour to nearby Agritourism center. This collectively attributes to upsurge agritourism market growth through educational tourism segment.
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For instance, Savitribai Phule Agriculture University, Rahuri, Pune India, Conduct, RAWE (Rural Agriculture Work Experience) program in which the students primarily to understand the rural situations, status of agricultural technologies adopted by farmers, study Agritourism, visiting wine processing units, prioritize the farmer's problems, and to develop skills & attitude of working with farm families for overall development in rural area.
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.
Region wise, Asia-Pacific has been gaining considerable traction in the Agritourism market and is expected to grow at a highest CAGR during the forecast period. Asia-Pacific is very well blessed with natural surrounding and suitable agriculture climatic conditions. Many countries in Asia-Pacific have backboned agriculture sector such as India and China. Diversification of the farm activities is majorly considering in Asia-Pacific as decreasing soil productivity and insufficient income form farm are making farmers to think to start adjacent business related to agriculture. Availability of farm, cattle's, green area, and nature surrounded places, adequate rural resources and emerging concept of Agritourism and government subsidies and technical support are promoting the growth of the market in Asia-Pacific.
The key players profiled in this report include Agricultural Tour Operators International, Agrilys Voyages, Bay Farm Tours, Blackberry Farm, LLC, Farm To Farm Tours, Greenmount Travel, Harvest Travel International, Field Farm Tours Limited, Select Holidays, and Stita Group.
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Key Benefits For Stakeholders:
○ The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
○ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
○ In-depth analysis and the market size and segmentation assist to determine the prevailing Agritourism market opportunities.
○ The major countries in each region are mapped according to their revenue contribution to the market.
○ The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the agritourism industry.
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