Categories: Market Research

Agritourism Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Agritourism Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Agritourism Global Market Report 2024, The agritourism market size has grown strongly in recent years. It will grow from $56.92 billion in 2023 to $60.89 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to rural economic diversification, consumer interest in farm life, cultural preservation and heritage, environmental education and conservation, seasonal events and festivals.

The agritourism market size is expected to see strong growth in the next few years. It will grow to $79.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to shift in traveler preferences, health and wellness offerings, education and learning opportunities, culinary and gastronomic experiences, personalized and customizable experiences. Major trends in the forecast period include agri-education experiences, farm-to-table experiences, adventure and rural activities, cultural immersion, specialized agritourism offerings.

The increase in government initiative towards agritourism farms is driving the growth of the agritourism market. The prominence of agritourism is proliferating worldwide with the surge in interest for farming activities, products, and innovative practices, along with the launch of new government initiatives. These initiatives promote local farming and agriculture activities and aim to provide a much-needed economic boost to local farming, ranching, and other communities related to the agriculture sector. Different government authorities launched their initiatives to provide opportunities for the local agriculture sector by attracting tourists. For instance, in June 2022, the Irish Minister for Agriculture, Food, and the Marine, Charlie McConalogue, announced to fund €300,000 ($3.06 million) to 19 local agro-food tourism projects. This funding aims to develop agritourism to develop rural areas and provide opportunities for farmers, producers, and artisans to develop their products and services. In September 2021, in India, the Kerala State Government established the Kerala Agri Tourism Network and a state-level training program for skilled labor to enhance farm tourism and provide a further push to the tourism industry in the post-COVID phase. Therefore, such government initiatives towards agritourism farms are expected to propel the growth of the agritourism market.

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The agritourism market covered in this report is segmented –

1) By Activity: On-farm Sales, Outdoor Recreation, Agritainment, Educational Tourism, Accommodations, Other Activities

2) By Tour Types: Group Travelers, Individual Travelers

3) By Sales Channel: Travel Agents, Direct

4) By Consumer Demographics: Men, Women, Kids

Major companies operating in the agritourism market are developing innovative services, such as agritourism spots, to attract more customers and enhance their profits. Agritourism is the practice of touring agricultural areas to see farms and, often, to participate in farm activities. For instance, in August 2023, the Kurdistan Region launched the Kurdistan Region’s first agritourism spot in Halabja, with tourists visiting daily, providing a market for local produce known for its natural beauty, fruit orchards, and fresh water springs. The location is a fantastic tourist site, and the atmosphere is everything. Setting aside a day each week to elevate your mood is a smart idea. The city is famous for its handmade crafts, such as knitting klash.

The agritourism market report table of contents includes: