PUBLISHER: Grand View Research | PRODUCT CODE: 1588434
PUBLISHER: Grand View Research | PRODUCT CODE: 1588434
The global agritourism market size is expected to reach USD 15.78 billion in 2030 and is projected to grow at a CAGR of 11.9% from 2025 to 2030. Rising spending on tourism, the increased number of travelers in recent years due to rising incomes that wish to know about village culture, and the increasing range of available tourist activities across the globe are the factors propelling the market growth.
Moreover, farm tourism creates a unique opportunity for the agriculture industries, and tourism offers several educational, financial, and social benefits to the producers, communities, and tourists. It is expected to accelerate the market growth throughout the forecast period.
A lockdown situation has been experienced during the COVID-19 pandemic, and it showed a negative impact on the agritourism market due to the border closures and travel restrictions in various countries. The rising spending on travel and tourism by people after the ease of several restrictions is projected to propel the market growth during the forecast period.
The educational tourism segment is foreseen to witness tremendous growth in the future. The increasing desire for cultural and outdoor activities, coupled with increased disposable income, is accelerating market growth. Moreover, families and educational institutes have wanted to know about the rural lifestyle and agricultural activity, which is propelling the market growth. The expansion of this market segment is attributed to rising promotional activity on digital media like social media channels, which is accelerating market growth.
The travel agents segment is expected to expand with the highest CAGR through the forecast period. Constantly changing consumer expenditure behavior, and the increasing number of visitors, as well as travelers, choosing to book their tours and packages through travel agents, is accelerating the segment growth. Moreover, important actions taken by the key market players, including social media advertising, and online campaigns, are expected to attract potential customers and encourage them to book their tour packages through agents, which is anticipated to boost the market growth during the forecast period.
North America accounted for a substantial revenue share owing to growing income levels regionally, the strengthening economic climate in the area, and government programs to promote travel and tourism. Moreover, increasing demand for health and wellness tourism and nature tourism is projected to propel the market growth, as agritourism is a combined experience of greenery, nature, calm & peace, fresh air, and a rural lifestyle. Furthermore, North American farmers are discovering a new source of income through agritourism. This is further accelerating the regional market growth.
Major players face intense competition from each other, and some of them operate their business at several locations and have large customer bases across the globe. The presence of many small-scale players is also leading to increased competition.