Agritourism Market to grow by USD 8.84 billion from 2022 to 2027; The growing tourism industry to be a major driver - Technavio
NEW YORK, Feb. 5, 2024 /PRNewswire/ -- The agritourism market is estimated to grow by USD 8.84 billion from 2022 to 2027, growing at a CAGR of 4.58%. The agricultural tourism market is propelled by the booming tourism industry, bolstering GDP and prompting governments to prioritize tourism growth strategies. With an increase in tourists, there's a rising demand for farm stays, amplified by the popularity of adventure travel. Projections indicate sustained growth in the tourism sector, particularly in North America, fostering a positive outlook for the agricultural tourism market in the foreseeable future.
The agritourism market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer agritourism market are Agrotours Inc., agroverde GmbH, Bay Farm Tours, Blackberry Farm LLC, Diniscor, Domiruth PeruTravel, Expedia Group Inc., Farm To Farm Tours, Greenmount Travel, GTI Travel, Liberty Hill Farm, Monteillet Fromagerie, Nokyo Tourist Corp., Orange Grove Farm, Quadrant Australia, Star Destinations, Stita Group, Tate Farms, Wheatacre Hall Barns, and Innisfail Travel Service Ltd.
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Company Offering:
- Agrotours Inc. - The company offers agrotourism arranged by personal farmers and extension advisory personnel.
- For details on companies and their offerings – Buy the report!
"The growing popularity of instant bookings is an emerging trend fueling the growth, however, challenges such as inconsistent service quality may hamper the growth."
By Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa. North America will have the largest share of the market. The region will contribute 34% to the growth of the global market during the forecast period.
Download a free sample report to get more insights on the market share of various regions and the contribution of the segments.
- By Distribution Channel, the offline segment will be significant during the forecast period.
Technavio Research experts have provided more insights on the market share of segments - View a Free Sample Report
Focus on rural hospitality and eco-friendly practices
The agricultural tourism industry offers diverse experiences such as farm stays, sustainable farming tours, and farm-to-table culinary experiences. With a focus on rural hospitality and eco-friendly practices, agritourism destinations cater to a growing trend of agro ecotourism. From harvest festivals to farmers' markets, farm-based activities and homesteading experiences contribute to the appeal of rural tourism, shaping the agritourism industry's evolving landscape.
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TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 scenarios.
Technavio Research
Jesse Maida
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Website: www.technavio.com
SOURCE Technavio
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