Agritourism Market

Agritourism Market - Key Research Findings

• There will be high growth in the demand for agritourism over the next decade, with market value increasing from US$ 213.9 Bn in 2019 at a CAGR of over 11.3% to reach US$ 622.1 Bn in 2029.
• Innovative services offered by agritourism farm vendor such as haunted hay rides, music festivals ate farms and others is expected to increase people attraction towards agritourism which is expected to generate lucrative opportunities in the market.
• Off the farm activities including farmer’s direct market, vendors at fairs, and roadside product stands is expected to hold a dominant position throughout the forecasted years. Active participation and an opportunity to earn extra revenue by farms by farmers provides significant share of the off the farm activities in the global agritourism market.
• Online mode is the most preferred booking mode by the tourism and increasing internet and smartphone penetration across the world is expected to further provide growth to the online booking mode during the forecast period.
• USA region is anticipated to forefront of the global agritourism market.

Key Factors Shaping Agritourism Market

Government Initiatives towards Agritourism to Propel Market Growth

The governments of various countries across the world such as India, China, Taiwan, and Brazil are undertaking initiatives to protect as well as nurture the environment and agriculture land in their respective countries. These governments are also focusing on improvements in the agro industry, as they have understood the importance of creating a sustainable environment. These initiatives have majorly boosted the demand for agritourism in these regions. Government and companies in various countries mainly focus on agricultural campaigns and are organizing events aimed at boosting awareness regarding agritourism among people. For instance, in 2017, the Department of Tourism (DoT) of Philippines launched “It’s More Fun in Philippine Farms” campaign. This campaign significantly helped to make people aware of inbound agritourism.  In 2016, the government of Philippines launched Farm Tourism Development Act (Republic Act 10816) to promote and develop farm tourism in the country.

Current Coronavirus Pandemic Outbreak Resulting in an Decrease in Demand  

During a coronavirus pandemic outbreak, Travel and tourism industry is completely shut and as a result the agritourism industry is facing a decline. The COVID-19 Outbreak resulted in lockdown situation in various countries across the globe which has impacted every industry in the market. As the COVID-19 protocols include social distancing and the farms that features agritourism need to follow certain guidelines. But after the lockdown situation there will be an high demand of the agritourism market as the demand for recreational activities will be boomed

Rising Health Consciousness to Support Adoption of Agritourism

The pollution free environment, fresh foods, recreation activities and other health benefits related with agritourism are encouraging people to actively opt for inbound and outbound agritourism. The on-farm farmer’s markets, U-Pick operations, pumpkin picking patches and various other operations associated with agritourism allow tourists to choose fresh fruits directly from farms, which attracts a large number of people towards agritourism.

Agritourism Market: Structure Analysis

• Some of the leading companies operating in the market are Expedia Group, Domiruth PeruTravel, Quadrant Australia, Select Holidays, Star Destinations, Trump Tours, Farm To Farm Tours, Kansas Agritourism, A.C.T. Tours, AL VERNETO, Bay Farm Tours, Agritourism France, AGRILYS Voyages, Bay Farm Tours, Field Farm Tours, Missão and others.
• Agritourism is associated with economic growth and socio-cultural enhancement of rural areas as well as the strong increasing demand for family recreational activities.
• Innovative services by agritourism vendors like music festivals, hay rides are attracting more tourist in the market.
• These companies are introducing new products and partnering with other industry leaders to develop and deliver new products that meet the rising demands and desires of customers. Industry leading players and Government bodies are also taking steps to raise customer awareness.