Current Scenario of Agro-Tourism Sector with Emerging Trend Regional Insights Growth Opportunities and Future Scope

PORTLAND, OREGON, UNITED STATES, September 23, 2022 /EINPresswire.com/ — Around the world, a significant portion of the population may have little or no interaction with agriculture. Consequently, agrotourism is crucial in educating this group on farming practices and crop development. On-farm tourism is a way for non-farmers to learn about agriculture and support their family farms by purchasing their goods directly or through intermediaries. For example, end users and suppliers (farmers and ranchers) are becoming more interested in agricultural and on-farm nature tourism in California (tourists and consumers of agricultural products and services). As a result, new growth opportunities are foreseen in the agrotourism industry during the forecast period.

According to the report by Allied Market Research, the global agrotourism market was set at $42.46 billion in 2019 and is expected to grow at a CAGR of 13.4% from 2021 to 2027, reaching $62.98 billion by 2027.

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The growth of the worldwide agrotourism market is driven by the expansion of the travel and tourism industry, government measures to promote agrotourism, and the increase in the adoption of agriculture-allied businesses. However, the inappropriate commercialization of agrotourism and the lack of understanding among tourists are limiting the expansion of the industry. On the other hand, market participants should expect attractive prospects in the future due to increased health awareness, which will increase the adoption of agrotourism.

Increasing demand for family-oriented recreational activities, local food demand and experience for farm stays are the main factors driving the growth of the Agritourism market. In addition, the growing interest in farm and rural activities in young minds creates demand for Agricultural tourism facilities. Agritourism is one of the ways people can find peace and relaxation that they can hardly find in urban areas. Covid-19 has greatly affected the entire tourism and Agritourism sector, but the reduction of coronavirus cases and the development and implementation of the coronavirus vaccine worldwide can help the tourism and Agritourism sector regain its position.

Turnkey

The agrotourism market was valued at $42,460.3 million in 2019 and is projected to reach $62,982.6 million by 2027, growing at a CAGR of 13.4% during the forecast period.
By activity, the hospitality segment is forecast to witness the fastest growth, recording a CAGR of 18.0% during the forecast period.
In 2019, by sales channel, the travel agency segment was worth $28,678.3 million, accounting for 67.8% of the global agrotourism market share.
In 2019 Italy was Europe’s leading market and is expected to grow at a CAGR of 12.6% during the forecast period to reach $3,351.1 million by 2027.
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The global agrotourism market is segmented on the basis of activity, sales channel and region. Based on activity, the market is segmented into on-farm sales, outdoor recreation, agriculture, educational tourism, accommodation, and others. The on-farm sales segment dominated the market in 2019, accounting for about three-fifths of the market. However, the accommodation segment is expected to show the highest CAGR of 18.0% during the forecast period.

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The market is segmented into direct and travel agency segments based on outdoor recreation. In 2019, the travel agency sector had the largest market share, accounting for more than two-thirds of the total. However, the direct segment is expected to grow at the highest CAGR of 14.0 percent over the projection period.

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

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

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Allied Market Research (AMR) is a full-service market research and business advisory wing of Portland, Oregon-based Allied Analytics LLP. Allied Market Research provides unmatched quality “Market Research Reports” and “Business Intelligence Solutions” to medium and small businesses as well as global businesses. AMR has a vision to provide business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas.

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