In almost the next decade, there will be substantial growth in demand for the agritourism market; the industry is predicted to rise from US$ 213.9 billion in 2019 to US$ 622.1 billion in 2029, with a compound annual growth rate of nearly 11.3%.
It is expected that innovative services provided by agritourism farm vendors, such as haunted hay rides, music festivals, and ate farms, will increase the possibility of attracting a wider pool of customers to the industry, leading to greater profitability and exciting prospects.
Innovative services provided by agritourism farm vendors, such as haunted hayrides, music festivals, ate farms, and others, are anticipated to raise consumer interest in agritourism and to create profitable market prospects.
Off-farm activities, such as farmer’s markets, fair vendors, and roadside product booths, are anticipated to maintain a commanding position over the predicted years. Farmers provide a sizeable portion of the off-farm activities in the worldwide agritourism business through active engagement and the chance to make extra money.
The most popular way for travelers to make reservations is online, and during the forecast period, the popularity of online booking is predicted to expand as more people around the world use smartphones and the internet.
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Key Trends in the Agritourism Market
In recent years, the Agritourism market has witnessed a remarkable surge, blending agriculture with tourism to offer unique experiences for urban dwellers seeking a connection with rural life. Several key trends are shaping the trajectory of this burgeoning industry, transforming traditional farms into multifaceted destinations. Here’s a closer look at the pivotal trends influencing the Agritourism landscape.
- Farm-to-Table Experiences: Consumers are increasingly interested in the origin of their food. Agritourism offers an opportunity for visitors to engage in farm-to-table experiences, participating in harvesting activities, understanding sustainable farming practices, and enjoying fresh, locally produced meals. This trend aligns with the growing demand for transparency and sustainability in food production.
- Educational Initiatives: Agritourism ventures are evolving into educational hubs, providing valuable insights into farming processes, conservation, and environmental stewardship. Visitors, especially families with children, are eager to learn about the agricultural lifecycle, from planting seeds to harvesting crops, fostering a deeper appreciation for agriculture and the importance of sustainable practices.
- Technology Integration: Modern farms are incorporating technology to enhance the visitor experience. From guided farm tours using augmented reality to mobile apps that provide real-time information about crops and activities, technology is being leveraged to make Agritourism more interactive and engaging.
- Diversification of Offerings: Beyond traditional farm visits, Agritourism destinations are diversifying their offerings to attract a broader audience. This includes agro-themed festivals, farm stays, and recreational activities such as petting zoos, hayrides, and corn mazes. The goal is to provide a holistic experience that caters to various interests.
- Community Engagement: Agritourism is becoming a catalyst for community development, fostering a sense of pride among local residents. By integrating local artisans, farmers’ markets, and community events, Agritourism destinations contribute to the economic growth of the surrounding areas while preserving local culture and traditions.
“Low awareness among consumers about agritourism is a major barrier to market growth in developing countries. Advertising is thus essential for the agritourism market,” states the FMI report.
Agritourism Market: Key Findings
- Millennials will remain the key target demographic that will choose to take up agritourism tools and will continue to generate profitability.
- Individual travelers will account for a larger share of the total market value, driven by higher awareness and easier availability of farm study tours.
- Off the farm activities will account for 60% of the total demand share, with substantial impetus coming from direct marketing efforts.
- Europe and North America will retain leading positions in the agritourism market, while developing nations in Asia and Latin America will display strong growth.
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Agritourism Market: Key Driving Factors
- Easy access to agritourism packages through online sales channels is a key growth driver for the market.
- Novel off the farm activities such as musical festivals and haunted hay rides are generating profitable opportunities.
- Low prices associated with on-farm fruit and vegetable harvests is increasing the popularity of agritourism among potential visitors.
- Favorable government initiatives towards protection of environment and agricultural land is a major driver for global demand.
Agritourism Market – Key Restraints
- Low awareness among tourists about agritourism options, especially in developing regions remains a key factor that can hamper the market growth.
- Limitations of seasonality and unpredictability of weather will limit growth of the agritourism market.
- High liability, property tax, and insurance costs, is a deterrent to agritourism businesses.
Key Players of Agritourism Market
- Expedia Group Domiruth PeruTravel
- Quadrant Australia
- Select Holidays
- Star Destinations
- Trump Tours
- Farm To Farm Tours
- Kansas Agritourism
- C.T. Tours
- AL VERNETO
- Bay Farm Tours
- Agriturismo France
- AGRILYS Voyages
- Bay Farm Tours
- Field Farm Tours
- Missão and others.
Agritourism Market Taxonomy
The global agritourism market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.
Activities
- Overnight Stay
- Special Events and Festivals
- Off the Farm
- Recreation Activities And Events
Tour Types
- Group Travelers
- Individual Travelers
Consumer Demographics
- Men
- Women
- Kids
Age Group
- 15-25
- 26-36
- 36-45
- 46-55
- 55 Years and above
Booking Channel
- Online
- Offline
Country
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- MEA
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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