Agritourism is a form of travelling that links agricultural activities with tourism to attract visitors onto a farm, ranch, or other agricultural business majorly for entertainment and education. Also, the Agritourism is used for improving the economy through agriculture. Major drivers like pollution free environment, fresh foods, recreation activities and health benefits related with agriculture have been influencing people for inbound and outbound agritourism. Further, agritourism has been helping to improve the economic growth and socio-cultural integration with rural areas. Innovative services like music festivals, food festivals, traditional events and other special events attract more tourists. Also, tourists choosing a place which provides them peaceful recreation value away from city life and people who like to be close with nature. Increasing government initiatives have made tourists more aware and traditional farmers are able to earn extra income throughout the year. For Instance: as per the official record of Indian Government, in 2005, Agri-Tourism Development Corporation was established to develop and promote agritourism by creating job opportunities for the farmers. In 2016, Farm Tourism Development Act (Republic Act 10816) was launched by the government of Philippines to promote and develop farm tourism in the country. However, an increase in the cost due to additional workers & subcontractor labor costs, animal-human health concerns, irresponsible tourism can harm the environment and can impede the growth of the market over the forecast period of 2020-2027. Also, the increasing government initiatives, regulations, proper tourism management creates an opportunity for the market.
Global Agritourism Market is valued approximately USD 213.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.3 % over the forecast period 2020-2027 and is estimated to reach USD 503.70 billion by 2027.
The regional analysis of global Agritourism Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the already established tourism sector and increasing number of agritourism farms. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, rising population, awareness about agritourism through rising online services, nature seeking tourists, better government regulations, focusing on increasing the farmers income and improving agricultural infrastructure would create lucrative growth prospects for the Agritourism Market across Asia-Pacific region.
Major market players included in this report are Expedia Group, Domiruth PeruTravel, Quadrant Australia, Select Holidays, Star Destinations, Trump Tours, Farm To Farm Tours, Kansas Agritourism, A.C.T. Tours, and AL VERNETO.
The detailed segments and sub-segment of the market are explained below:
By Type: Overnight Stay, Special Events & Festivals, Off the Farm, Recreation Activities & Events
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