Agritourism Market Expected to Reach $111.1 Billion by 2032 ; Field Farm Tours Limited, Select Holidays, and Stita Group

According to a new report published by Allied Market Research, titled, "Agritourism Market," The agritourism market size was valued at $33.8 billion in 2022, and is estimated to reach $111.1 billion by 2032, growing at a CAGR of 12.5% from 2023 to 2032.

Agritourism is a subset of rural tourism. It is known by various names, depending on the region and type of farming, such as agriculture tourism, agritourism, farm tourism, farm vacation tourism, wine tourism, as well as some related terms that are used interchangeably with agritourism or that are complementary to agritourism including nature tourism, rural tourism, alternative farming, wildlife enterprises, ecotourism, Agritainment, heritage tourism, Agri education, and value-added agriculture. It is generally defined as visiting a working agricultural setting for leisure, recreation, or educational purposes.

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These usually include farm-based recreation activities. It is emerging concept of tourism industry, which has been gaining opportunistic ground in terms of traveler awareness, media exposure, and adoption by agriculturalists looking for diversified income streams. Stress, frustration, and mental disorders such as depression are some of the problems faced by urban people. People are desiring to avoid living a hectic life style in a materialistic & concrete world and seek to live amidst nature to spend some time. Agritourism is one of such option where people can find peace and calmness. Furthermore, they can get involved in farm activities, which can reduce stress and frustration. There are various activities involved in agritourism such as agriculture museum & displays, archery, barn dances, bed and breakfast accommodations, cabin living, camping, canning produce, farm cooking contest, farm stores & markets, farm scavenger hunts, heritage trails, and hunting. These kinds of innovative activities are increasingly attracting tourist especially family and student groups, which is expected to boost the Agritourism Market growth during the forecast period. Moreover, there are many Agritourism Market opportunities for the key players in the market.

According to agritourism market analysis, the agritourism market is segmented into activity, sales channel, and region. On the basis of activity, the agritourism market report is categorized into on-farm sales, outdoor recreation, agritainment, educational tourism, accommodations, and others. By sales channel, it is segregated into travel agents 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, Middle East, Africa).

By activity, the market is classified into on-farm sales, outdoor recreation, agritainment, educational tourism, accommodations, and others. The on-farm sales segment accounted for a major Agritourism Market Share in 2022 and is expected to grow at a significant CAGR during the forecast period. This is attributed to the fact that agriculture universities and non-agricultural universities are progressively involved in providing agriculture related educational experience. Some courses in agriculture universities are compulsory subjects to study agritourism and compulsory for every agriculture college to arrange one tour to nearby agritourism center. This collectively attributes to upsurge the Agritourism Market demand through educational tourism segment.

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By sales channel, the market is classified into travel agents and direct. The travel agents segment accounted for a major share of the agritourism market in 2022 and is expected to grow at a significant CAGR during the forecast period. Direct segment of the sales channel in Agritourism is gaining significant traction among the people. This is majorly attributed to growing use of internet, smartphones, and availability of the platforms where people can find information and booking facilities. Internet is actively used to promote agritourism sites through farm owner and agriculturist. Furthermore, various companies operating in the tourism industries are exploring their segment in agritourism and ecotourism and providing platforms to book their agritourism packages to people. Internet platform such as booking.com, Airbnb, and individual websites operated by agritourism are majorly used for booking holiday and vacation packages to customers. People also go directly to the offices of the agritourism providing companies and book their holiday tour.

Region wise, Asia-Pacific has been gaining considerable traction in the Agritourism market and is expected to grow at a highest CAGR during the forecast period. Asia-Pacific is very well blessed with natural surrounding and suitable agriculture climatic conditions. Many countries in Asia-Pacific have backboned agriculture sector such as India and China. Diversification of the farm activities is majorly considered in Asia-Pacific as decreasing soil productivity and insufficient income from farm are persuading farmers to start adjacent business related to agriculture. Availability of farm, cattle, green area, places surrounded by nature, adequate rural resources, emerging concept of Agritourism, and government subsidies and technical support are promoting the growth of the Agritourism market in Asia-Pacific.

For instance, in September 2020, the Government of India passed the agritourism policy of Maharashtra. This will invigorate the rural sector and agricultural practitioners with a steady source of an alternative income and an alternative employment through tourism like farm stays. Local cuisine and cultural aspects can be enjoyed by visitors while people visiting rural areas require accommodation. Increase in tourists in Asia-Pacific is further anticipated to surge the growth of the Agritourism market during the forecast period. For instance, according to the report published by the World Tourism Organization, 2019, Asia and Pacific region hold 25% share of the international tourist arrivals, which accounts for 348 million tourist arrivals.

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The players operating in the agritourism industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Agricultural Tour Operators International, Agrilys Voyages, Bay Farm Tours, Blackberry Farm, LLC, Farm to Farm Tours, Greenmount Travel, Harvest Travel International, Field Farm Tours Limited, Select Holidays, and Stita Group.

Key findings of the study

By activity, the accommodations segment is estimated to witness the fastest growth, registering a significant CAGR during the forecast period.
In 2022, depending on sales channel, the travel agent segment held the major share in 2022 and is expected to sustain its dominance during the forecast period.
In 2022, by region, the North America region held the major share in 2022 and is expected to sustain its dominance during the forecast period.

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