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Agritourism Market Size to Reach USD 117.37 Billion by 2027; Need to Boost Earnings & Profitability to Augment Growth

July 20, 2020 | Agriculture

The global agritourism market size is projected to reach USD 117.37 billion by 2027 on account of its ability to accelerate the profitability and earnings of farm owners. Besides, it provides farmers, artisans, and producers with a platform to showcase their agricultural products, food and drinks, and local cuisine. This information is given by Fortune Business Insights™ in a recent report, titled, “Agritourism Market Size, Share & COVID-19 Impact Analysis, By Type (Direct-market, Education & Experience, and Event & Recreation), and Regional Forecast, 2020 – 2027.” The report further states that the global market stood at USD 69.24 billion in 2019. But, it is expected to showcase a CAGR 7.42% during the forecast period between 2020-2027.


Visit Florida Collaborates with Florida Agritourism Association to Unveil New App


In August 2018, Visit Florida joined hands with the Florida Agritourism Association to launch a unique mobile app. It would enable users to connect with Florida’s agricultural assets. It would also open doors to opportunities for the vineyards, ranches, and farms of the state. They will be able to allow visitors to sample the abundant natural beauty and bounty found in the state’s offerings.


As per one of the officials of Visit Florida, “Florida welcomed approximately 116.5 million visitors in 2017 alone. Out of these, many enjoyed our agricultural attractions, such as vineyards, ranches, u-pick farms, and others. This kind of tourism is becoming very much popular nowadays as the tourists are looking for adventures. Our new mobile app would help them to enjoy and discover authentic experiences offered by Florida’s agritourism operations.”


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/agritourism-market-103297


Launch of New Agro-tourism Projects by Governments to Boost Growth


The governments of various countries across the globe are persistently focusing on enhancing the agriculture economy. They are doing so by promoting agricultural tourism. The Ministry of Agriculture and Cooperatives in Thailand, for instance, works hand in hand with the Ministry of Tourism and Sports for encouraging local tourism and for promoting domestic agriculture tourism in the country. Apart from that, the emergence of new agro-tourism projects, as well as incorporation of new departments by the government agencies would contribute to the agritourism market growth in the forthcoming years.


Key Players Focus on Joining Hands with Government Agencies to Strengthen Position


The market is highly fragmented with the presence of numerous companies. They are mainly engaging in strategic collaborations, mergers and acquisitions, as well as launch of new applications to promote agritourism in their operational regions. Some of them are also broadening their businesses to gain a competitive edge.


Fortune Business Insights™ lists out the names of all the reputed providers of agriculture tourism operating in the market. They are as follows:



  • Liberty Hill Farm - United States

  • Harvest Travel International – United States

  • Farm to Farm International – New Zealand

  • STAR Destinations – United States

  • Stita Group – United Kingdom

  • Select Holidays – Canada

  • Agritours Canada Inc. – Canada

  • Kisima Safaris – Kenya

  • Field Farm Tours Limited – United Kingdom

  • Greenmount Travel - Australia


A Significant Industry Development-



  • March 2018: Haryana Agriculture Minister O.P. Dhankar declared that the government is set to begin this type of tourism in the state. It would also create 340 'Bagawani Villages' and collection centres. The government would soon expand the number of Kisan Bazar to promote the farming community in Haryana.


Further Report Findings-



  • In terms of type, the direct-market segment held 36.06% agritourism market share in 2019. This growth is attributable to the increasing government investments and initiatives to propel the agricultural economy by selling farm products.

  • In 2019, Europe procured USD 32.59 billion in terms of revenue owing to the presence of well-established agro-tourism and farm culture in the developed countries, such as Germany, the U.K., Croatia, Belgium, Italy, and France. The region is set to dominate in the near future.

  • Asia Pacific would grow rapidly in the coming years backed by the rising involvement of several semi-government and private companies in the agro-tourism business.


The global market can be segmented in the following way:





































 ATTRIBUTE



  DETAILS



Study Period



   2016-2027



Base Year



  2019



Forecast Period



   2020-2027



Historical Period



   2016-2018



Unit



  Value (USD Billion)



Segmentation



By Type



  • Direct-market

  • Education & Experience

  • Event & Recreation



By Region



  • North America (U.S., Canada, and Mexico)

  • Europe (Italy, United Kingdom, Germany, France, Austria, and the Rest of Europe)

  • Asia-Pacific (China, India, Japan, Australia, and the Rest of Asia- Pacific)

  • South America (Brazil, Argentina, and the Rest of South America)

  • Middle East & Africa (South Africa, UAE, and the Rest of the MEA)


Global Agritourism Market
  • PDF
  • 2019
  • 2016-2018
  • 150

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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