In 2019, the global agritourism market was valued at USD 69.24 billion and is forecasted to grow to USD 197.37 billion by 2032, advancing at a compound annual growth rate (CAGR) of 8.88% during the assessment period. Europe held the largest share of the market in 2019, contributing 47.07% of the total.

A major factor fueling the expansion of the agritourism industry is the increasing inclination of farmers to adopt entrepreneurial approaches. Additionally, government initiatives designed to generate supplementary income opportunities for both the agriculture and tourism sectors are further propelling growth. Rising consumer demand for eco-friendly, cost-efficient, and sustainable travel experiences is also a key driver. Public and private sector programs dedicated to promoting agritourism are strengthening market opportunities as well.

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

Key Questions Covered in the Report:

• What are the primary drivers and restraints shaping market growth?
• What challenges and opportunities exist in the industry?
• Which segment is expected to lead throughout the forecast period?
• Which region is likely to dominate in the future?
• What strategies are being adopted by companies to advance agritourism?

Market Drivers and Restraints

Growing Farmer Participation in Agritourism to Spur Market Expansion

Tourism and leisure activities centered around farms are becoming vital income sources for farmers worldwide. Many are converting farmland into tourist-friendly destinations. Data from the U.S. Census of Agriculture indicates that agritourism revenue tripled between 2002 and 2017, highlighting a growing trend of income diversification among farmers facing declining crop yields.

COVID-19 Impact

The COVID-19 outbreak created severe disruptions in the tourism industry, including agritourism. Lockdowns and travel restrictions imposed globally caused temporary setbacks for market operations. However, with the gradual recovery of international travel, the industry is expected to regain momentum.

Segment Analysis

Direct-Market Agritourism to See Strong Growth Through Farm Product Sales

The direct-market segment represented 36.06% of the overall market share. This growth is supported by government initiatives promoting rural economic development and the sale of regional farm products. Tourists are increasingly interested in genuine farm-based experiences, particularly those that offer access to fresh, local produce. Many farms are expanding product offerings, which is expected to sustain segment growth.

Regional Outlook

Europe to Retain Dominance with Innovative Marketing Efforts