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Global Rural Activities Market Overview Covering Forecast Market Size And Growth Rate 2033
Rural Activities Global Market Report 2024
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According to The Business Research Company's, The rural activities market size has grown strongly in recent years. It will grow from $2489.52 billion in 2023 to $2686.44 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to agricultural production, traditional crafts and artisanal production, hunting and fishing, forestry and logging, eco-tourism and agritourism.
The rural activities market size is expected to see strong growth in the next few years. It will grow to $3625.1 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to sustainable agriculture, rural tourism and experiential travel, digital connectivity, renewable energy production, agribusiness diversification. Major trends in the forecast period include farm-to-table and local food movement, rural craft brewing and distilleries, community supported agriculture (csa), rural artisan markets, sustainable forestry and agroforestry.
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Market Drivers and Trends:
Government initiatives are anticipated to drive the expansion of the rural activities market in the future. Government initiatives refer to important acts or statements made by the government to solve a problem or address a particular issue. The government initiatives related to rural activities aim to improve the quality of life and economic opportunities for people living in rural areas by investing in infrastructure, high-speed internet access, policy recommendations, rural competitiveness and resilience, and rural transportation infrastructure. For instance, in October 2022, the United States Agency for International Development, a US-based government agency launched a new $50 million Rural Competitiveness and Resilience Activity (RCRA) to build the capacity of local groups and associations of agricultural producers, empower women and young farmers, and create a favorable environment for private sector investment in rural areas. The RCRA activity will focus its support on a range of partners and products with the potential to transform the economy and lift up rural communities. Thus, government initiatives are propelling the rural activities market.
Drone fishing technology is the new technique that has made fishing easier than the traditional methods. A drone is a flying robot and an unmanned small aircraft with a ground-based controller and a system of communication between the two. It is being used for fishing as it can pull single baits out to spots that a person cannot normally reach and move multiple baited hooks to offshore locations. It is highly compatible and portable, requiring only one person to carry all the gear, and many remote controls have screens or LCDs for better viewing and fishing photography. For instance, Envirobotics, a New Zealand-based company, developed custom drones, especially for long-line fishing. The Splash Drone, developed in Florida, USA, is a waterproof fishing drone. Many other companies such as dronefishing.com, 3Dr.com, and TanotisIndia are involved in drone manufacturing for fishing purposes, indicating an increase in the number of suppliers providing fishing drones and their usage.
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Major Key Players of the Market:
Land O'Lakes Inc., Nippon Suisan Kaisha Ltd., Maruha Nichiro Corporation, Olam International, Resolute Forest Products Inc., Rayonier Inc., Weyerhaeuser Company, Stora Enso Oyj, PotlatchDeltic Corporation, CELULOSA ARAUCO Y CONSTITUCIÓN S.A., Deere & Company, CNH Industrial N.V., Mahindra & Mahindra Limited, AGCO Corporation, DeLaval International AB, Vermeer Corporation, CLAAS KGaA mbH, Kubota Tractor Corporation, Massey Ferguson Limited, JCB Limited, Argo Tractors S.p.A., Valtra Oy, Zetor Tractors a.s., McCormick Tractors, New Holland Agriculture, KIOTI Tractor, Farmtrac Tractors Europe sp. Z o.o., Sonalika International Tractors Limited, Tractors and Farm Equipment Limited, Kuhn Group, Amazone Landtechnik GmbH & Co. KG, Andreas Stihl AG & Co. KG, Husqvarna Group, Simplicity Manufacturing LLC, AriensCo, Escorts Limited, Yanmar Co. Ltd., Agri-Fab Products Company.
Rural Activities Market 2024 Key Insights:
• The rural activities market size is expected to see strong growth in the next few years. It will grow to $3625.1 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
• Government Initiatives Fueling Growth In The Rural Activities Market
• Revolutionizing Fishing With Drone Technology
• The Asia-Pacific was the largest region in the rural activities market in 2023
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