by Agritourism is a form of tourism primarily aimed at farm or agricultural based activities. It involves visiting a working farm or any agricultural, horticultural or agribusiness operation for recreation, education or active involvement in the activities of the farm. Typical agritourism activities include recreational activities like petting zoos, farm tours and demonstrations, hayrides, garden tours, crop mazes and u-pick operations. The Global Agritourism Market is witnessing significant growth, driven by the growing desire of tourists to experience the rural way of life.
The global agritourism market is estimated to be valued at US$ 8.23 Bn in 2024 and is expected to exhibit a CAGR of 11 % over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Agritourism Market Growth are Field Farm Tours Limited , Farm to Farm Tours, Bay Farm Tours., Star Destinations , Expedia, Inc., Select Holidays, Green mount Travel., Blackberry Farm, LLC., GTI Travel, Kansas Tourism, Trump Tours Inc., Tour De Farm, Kisan Eco Farm and Farm Stay, Liberty Hill Farm , Harvest Travel International , Farm to Farm International , STAR Destinations , Stita Group , Select Holidays, and Agritours Canada Inc. The market is witnessing growing demand owing to rising interest of millennials in rural adventures and experiential travel. Many farmers are capitalizing on these opportunities to diversify their incomes. With rising tourism worldwide, agritourism is also expanding globally with many destinations offering rural experiences to attract visitors.
Market Key Trends
One of the key trends in the agritourism market is diversification of farm activities. To attract more tourists, farmers are diversifying their operations to include recreational activities like hiking trails, outdoor games, cooking classes, farm product sales etc. along with the core farm activities. This is helping generate additional revenues. Further, development of digital platforms is also aiding the agritourism market. Various online portals are offering curated agritourism experiences globally and helping connect farmers with prospective visitors. This is increasing accessibility which is propelling the market growth.
Porter’s Analysis
Threat of new entrants: Low set up costs and presence of established players make it difficult for new players to enter. Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes. Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative suppliers. Threat of new substitutes: Low switching costs make threat of substitutes high for agritourism. Competitive rivalry: Intense competition exists among existing players due to personalized offerings.
Geographical Regions
North America holds the major share in agritourism market in terms of value. The region has a large area under farms along with established agritourism infrastructure and activities which attracts tourists. States like California, Pennsylvania, New York are major farm tourism destinations in the region.
Asia Pacific is projected to grow at the fastest rate during the forecast period. Countries like India and China are witnessing rising incomes and demand for unique experiences. Many farms in countries are leveraging experiential offerings to engage visitors and boost revenues. Farm stays with local cuisine and camping are gaining traction.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.
