Agritourism Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Agritourism Market: Snapshot
Rise in the demand for family recreational activities on farmlands is creating profitable business opportunities for companies operating in the global agritourism market. Moreover, the market for agritourism is estimated to gain the advantage of initiatives and support provided by government authorities of many countries around the world.
People around the globe are increasing the demand for local food products as well as beverages during the farm stays. This factor is working as a big positive that is likely to boost sales growth of the global agritourism market in the upcoming years.
The nature of global agritourism market is consolidated with the presence of several well-entrenched players. In order to maintain leading position, companies in the market for agritourism are using different strategic moves.
Enterprises operating in the agritourism market are growing focus on R&D projects and development of next-gen technologies. Moreover, several enterprises are using strategies such as mergers, acquisitions, and collaborations in order to expand their businesses in newer regions. Such efforts are expected to boost the expansion of the global agritourism market in the upcoming years.
The global agritourism market is estimated to observe profitable business avenues in Asia Pacific owing to increasing understanding on the agriculture sector in the region. Moreover, rise in the initiatives by several regional governments and introduction of different policies that promote agritourism are likely to fuel the Asia Pacific market growth. Besides, North America is one of the prominent market regions.
The COVID-19 pandemic has shown a negative impact on the growth of the agritourism market. As per the guidelines by government of many nations, all the activities in the tourism industry were on halt. Moreover, players in the agritourism market are increasing focus on the development of strategies and policies that help them to restart their day-to-day activities.
Global Agritourism Market: Overview
The term agritourism is related to the standard of living, economic progression, and social & cultural growth of rural areas. Recently the global agritourism market is experiencing a major growth owing to the rising demand for recreational activities for families at an economical price rather than other expensive activities packages. Also, growing demand by consumers for food and other experience during a farm stay is another factor that is influencing the growth of global agritourism market in the forecast period of 2018 to 2028.
A recent report by TMR Research is curated to help the businesses to have a clear picture of global agritourism market. The report provides complete analysis of the market by covering various facets. It sheds light on areas such as notable developments, key opportunities, challenges, and key trends of global agritourism market.
Global Agritourism Market: Notable Developments
Agritourism is huge domain hence there are multiple players in global agritoursim market. Since there are various players the market is highly competitive. However, there are only few players that dominate the global agritourism market. As a result, the market is moderately consolidated in nature. Since these prominent players account for the majority of the share of the market, the entry of new players is quite difficult in the forecast period. In order to have a sustainable future in the global agritourism market, new players are adopting various strategies such as mergers and collaborations.
Whereas, established players are investing significantly in research and development activities and implementing various technologies in order to provide innovative products to the customers.
Global Agritourism Market: Key Drivers
The growth of global agritourism market is majorly driven by factors such as growing demand for various recreational activities for families on various farmlands. Various government initiatives are also some of the major factors that are promoting the growth of global agritourism market in the forecast of 2018 to 2028.
Rising demand for local food and beverages during the farm stay is also influencing the growth of global agritourism market. Furthermore, the changing national policies where the tourists are driven to farmlands in order to understand agriculture and help farmers is yet another factor that is influencing the growth global agritourism market during the forecast period.
Global Agritourism Market: Regional Analysis
Geographically, the global agritourism market is expected to witness maximum growth in Asia Pacific region. The dominance of the region is the result of rising awareness about the agriculture and various government policies to encourage agritourism in the region.
Moreover, North America is expected to be an emerging market for the players of global agritourism market. Rising awareness for agritourism in countries such as U.S. and Canada is the prime reason for the growth of North America in global agritoursim market. Futhermore, various initiatives by the government in order to promote the agricultural tourism is yet another factor that is responsible for the growth of the region in the market.
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5-Point Growth Formula
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The 5-point growth formula includes the following points:
Current and Future Threats
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Accurate Trend Analysis
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