AGRITOURISM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The agritourism market is estimated to be valued at USD 8.23 Bn in 2024, growing at a compound annual growth rate (CAGR) of 11.4% from 2024 to 2031. Agritourism is a form of niche tourism that offers visitors experiences related to agriculture and rural life. It involves engaging tourists in hands-on agricultural activities such as herb picking, fruit picking, tree tapping, or honey collecting. Tourists also get an opportunity to learn about life on farms and in rural communities. Agritourism seeks to provide tourists insight into local cultural and culinary traditions. It merges recreation with agriculture in a way that benefits both visitors and hosts. Some activities commonly associated with agritourism include corn mazes, farm tours, harvest festivals, petting zoos, baking classes, and farmers' markets. As tourists are looking for more authentic travel experiences that connect them with local food and culture, agritourism has emerged as one of the fastest growing forms of tourism globally.
Market Dynamics:
The global agritourism market is expected to be driven by factors such as the growing demand for authentic leisure and recreational activities, increasing interest among millennials to spend vacations in rural settings surrounded by nature, and supplementing income from agricultural activities. However, high initial investment cost for infrastructure development of agritourism facilities and seasonality of operations can restrain the market growth. Growing popularity of experiential and responsible forms of tourism present lucrative opportunities. Farmers can offer new experiences and engage city dwellers through educational programs. Collaboration with local food producers, artisan communities, and tourism boards can also help open up new revenue streams.
Key Features of the Study:
Market Segmentation
Table of Contents
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