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Agritourism Market size is set to grow by USD 7 billion from 2024-2028, growing tourism industry to boost the market growth, Technavio

Agritourism Market size is set to grow by USD 7 billion from 2024-2028, growing tourism industry to boost the market growth, Technavio

NEW YORK, June 10, 2024 /PRNewswire/ — The global agritourism market  size is estimated to grow by USD 7 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 3.58%  during the forecast period.  Growing tourism industry is driving market growth, with a trend towards growing popularity of instant bookings. However, risks associated with fraudulent vacation rental houses, apartments, and homestays  poses a challenge. Key market players include Agrotours Inc., agroverde GmbH, Bay Farm Tours, Blackberry Farm LLC, Diniscor, Domiruth PeruTravel, Expedia Group Inc., Farm To Farm Tours, Greenmount Travel, GTI Travel, Innisfail Travel Service Ltd., Liberty Hill Farm, Monteillet Fromagerie, Nokyo Tourist Corp., Orange Grove Farm, Quadrant Australia, Star Destinations, Stita Group, Tate Farms, and Wheatacre Hall Barns.

Get a detailed analysis on regions, market segments, customer landscape, and companies – View the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Distribution Channel (Offline and Online), Type (Domestic and International), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Agrotours Inc., agroverde GmbH, Bay Farm Tours, Blackberry Farm LLC, Diniscor, Domiruth PeruTravel, Expedia Group Inc., Farm To Farm Tours, Greenmount Travel, GTI Travel, Innisfail Travel Service Ltd., Liberty Hill Farm, Monteillet Fromagerie, Nokyo Tourist Corp., Orange Grove Farm, Quadrant Australia, Star Destinations, Stita Group, Tate Farms, and Wheatacre Hall Barns

Key Market Trends Fueling Growth

The instant booking trend in the agritourism market has led to significant growth. This feature offers minimal wait time and real-time booking convenience, enhancing customer satisfaction. Vendors offer multiple options to ease the booking process. Holiday Travel Triangle, among others, has adopted instant booking to cater to diverse customer base. Autoresponder technology saves time and resources, enabling automated responses to inquiries, thereby improving user experience. The increasing use of such technologies is expected to positively impact the global agritourism market. 

The agritourism market is experiencing significant growth with an increasing number of tourists seeking authentic farm experiences. Farmers are adopting innovative practices such as adding activities, accommodations, and educational programs to attract visitors. Commodities like fruits, vegetables, and grains are becoming popular tourism attractions. Technologies like social media and online booking platforms are making it easier for tourists to plan and book their farm visits.

Sustainable practices and local products are key trends in the agritourism industry. Older adults and families are the primary demographic for agritourism, and tourists are looking for unique and educational experiences. The agritourism industry is also creating jobs and supporting local economies. Overall, the agritourism market is a thriving business that offers a unique blend of agriculture, education, and tourism. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

  • The global agritourism market faces challenges from various risk factors that harm vendor reputation and customer trust, hindering market expansion. Scams, fraudulent reviews, and unethical practices negatively impact revenue. Star Destinations, a key vendor, offers user reviews and secure transactions, but false advertisements, bait-and-switch tactics, and double bookings hinder growth. Phishing also poses a threat. These issues are expected to limit the market’s growth during the forecast period.
  • Agritourism is a growing industry that combines farming and tourism. It offers unique experiences for visitors, such as picking fruits, learning about farming practices, and staying on a farm. However, this market faces several challenges. Technological advancements and changing consumer preferences require continuous adaptation. Environmental sustainability is crucial, as farms must balance tourism activities with agricultural production. Regulations and zoning laws can limit the expansion of agritourism businesses.
  • Additionally, seasonality and unpredictable weather patterns can impact revenue. Despite these challenges, agritourism provides opportunities for rural communities to diversify their income sources and promote local products. Proactive strategies, such as investing in technology and building strong relationships with customers, can help businesses overcome these hurdles.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

  1. Distribution Channel
  • Type 
    • 2.1 Domestic
    • 2.2 International
  • Geography 
    • 3.1 North America
    • 3.2 Europe
    • 3.3 APAC
    • 3.4 South America
    • 3.5 Middle East and Africa

    1.1 Offline-  Agritourism is a thriving business that invites visitors to experience farming activities and rural life. It includes agri-education, agri-entertainment, and agri-tourism services. Farmers offer pick-your-own fruits and vegetables, farm tours, and seasonal festivals. Local restaurants serve farm-to-table meals, showcasing fresh produce. Agritourism fosters community connections and supports local economies. It’s a win-win situation for farmers and tourists alike.

    For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

    Research Analysis

    The Agritourism market is a thriving niche concept in the rural economy, attracting urban families and millennials with its unique blend of sustainable farming practices and environmental protection activities. Agro-tourism farms offer an authentic experience, allowing visitors to engage with the farmer community and learn about various aspects of agriculture.

    The Tourism Ministry is promoting this sector through digital innovation, encouraging the adoption of technology to enhance the overall experience. Sustainable farming practices are a key focus, with entrepreneurs leveraging consumer expenditure behaviors in the corporate world to drive growth. Lush green farms, bullock cart rides, and interactions with cows add to the charm of this sector.

    Market Research Overview

    Agritourism is a thriving sector that combines agriculture and tourism, offering unique experiences for visitors. Farming operations, orchards, vineyards, and ranches open their doors to the public, providing insights into rural life and agricultural processes. This market encompasses various activities such as educational tours, farm stays, pick-your-own farms, and agri-restaurants.

    Sustainability and eco-friendliness are key aspects of agritourism, making it an attractive option for travelers seeking authentic experiences. The market continues to expand, driven by the growing demand for local and organic produce and the desire to connect with the land and the people behind it. Technological advancements and innovative practices are also shaping the future of agritourism.

    Table of Contents:

    1 Executive Summary
    2 Market Landscape
    3 Market Sizing
    4 Historic Market Size
    5 Five Forces Analysis
    6 Market Segmentation

    • Distribution Channel
    • Type
    • Geography
      • North America
      • Europe
      • APAC
      • South America
      • Middle East And Africa

    7 Customer Landscape
    8 Geographic Landscape
    9 Drivers, Challenges, and Trends
    10 Company Landscape
    11 Company Analysis
    12 Appendix

    About Technavio

    Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

    With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

    Contacts

    Technavio Research
    Jesse Maida
    Media & Marketing Executive
    US: +1 844 364 1100
    UK: +44 203 893 3200
    Email: [email protected]
    Website: www.technavio.com/

    SOURCE Technavio

    Originally published at https://www.prnewswire.com/news-releases/agritourism-market-size-is-set-to-grow-by-usd-7-billion-from-2024-2028-growing-tourism-industry-to-boost-the-market-growth-technavio-302167933.html
    Images courtesy of https://pixabay.com

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