DUBLIN--(BUSINESS WIRE)--The "Agritourism Market by Activity, Sales Channel: Global Opportunity Analysis and Industry Forecast 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The agritourism market size was valued at $42,460.3 million in 2019, and is estimated to reach $62,982.6 million by 2027, registering a CAGR of 13.4% from 2021 to 2027.
Agritourism activities are becoming vital component of many farm operations. These activities find great potential to increase the revenue of the farmers without hampering the existing farm revenue. Most of the agriculturist are adopting the Agritourism as agriculture allied business and increasing practicing and developing the Agritourism activities to have side business along with farm production. Many small and medium farmers are considering Agritourism as a great opportunity to increase the farm revenue. This is attributed to a low-investment, low-risk strategy as farms mainly made use of their existing resources. There are various activities involved in Agritourism, which attract tourist, activities such as farm food, slow dining, sorghum milling, wineries, straw bale maze, plant a garden, rural music events and rural customs and traditional shows.
Owing to rapid expansion of the urban area, people are increasingly trapping in the cement world and getting rid of busy lifestyle, hectic time schedule so people are increasing searching short term vacations in between their regular life. Agritourism is one of such option, where people can spend days and involve in the farm activities and can have entertainment on the farm. Agriculturist are actively exploring their farm activities and looking for adjacent source of income, for this Agritourism is optimal option, which requires farm landscape and other existing elements. Growth in financial support from government and rise in demand for farm stay, local food, and rural lifestyle experience are increasingly adding to the growth of the Agritourism market.
Increasing curiosity of the rural life style, farm activities, and farming technology in young generation is further creating demand for educational Agritourism. Many agriculture and non-agriculture universities are offering additional course for students, where they study and experience the rural agriculture working experience and, in some universities, it is compulsory subject to opt for. Agritourism center can be good option for school tours and family vacation as it is economically viable.
However, lack of awareness regarding the emerging concept of Agritourism and proper electrification in rural areas are considerably expected to hinder the growth of the agritourism market during the forecast period. Furthermore, lack of proper guidance and knowledge about how to commercialize the Agritourism further hamper the growth of the global market.
The report segments the global agritourism market into activity, sales channel, and region. By activity, it is categorized into on-farm sales, outdoor recreation, agritainment, educational tourism, accommodations, and others. Depending on sales channel, it is fragmented into travel agent 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, the Middle East, Africa)
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the global agritourism market, with current and future trends to elucidate the imminent investment pockets in the market.
- The report provides information regarding drivers, restraints, and opportunities with impact analysis.
- A quantitative analysis from 2019 to 2027 is provided to showcase the financial competency of the market.
- Porter's five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
- Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
- Competitive intelligence highlights business practices followed by leading market players across various regions.
Market Dynamics
Drivers
- Agritourism - An untapped and unexplored concept of tourism
- Growing travel and tourism industry
- Farmers urging to adopt Agri-allied business
- Government Initiatives towards Agritourism to Propel Market Growth
Restraints
- Lack of awareness among tourist
- Improper commercialization of Agritourism
Opportunities
- Rising Health Consciousness to Support Adoption of Agritourism
Companies Profiled
- Agricultural Tour Operators International (Atoi).
- Agrilys Voyages.
- Bay Farm Tours
- Blackberry Farms, LLC.
- Farm to Farm Tours
- Greenmount Travel.
- Harvest Travel International
- Field Farm Tours Ltd.
- Select Holidays
- Stita Farm Tours
For more information about this report visit https://www.researchandmarkets.com/r/qkkx00
