Agritourism Market by Application and Geography - Forecast and Analysis 2021-2025
- Published: May 2021
- Pages: 119
- SKU: IRTNTR44025
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The agritourism market share is expected to increase by USD 4.33 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 2.37%.
This agritourism market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers agritourism market segmentations by application (domestic and international) and geography (north america, europe, APAC, south america, and MEA). The global agritourism market report also offers information on several market vendors, including Agrotours Inc., AgTours.US, Diniscor, Domiruth PeruTravel, Innisfail Travel Service Ltd., Liberty Hill Farm , Nokyo Tourist Corp., Quadrant Australia, Star Destinations, and Stita Group among others.
What will the Agritourism Market Size be During the Forecast Period?
Download the Free Report Sample to Unlock the Global agritourism market Size for the Forecast Period and Other Important Statistics
Agritourism Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing tourism industry is notably driving the global agritourism market growth, although factors such as risks associated with fraudulent vacation rental houses, apartments, and homestays may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the global agritourism industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Agritourism Market Driver
The growing tourism industry are one of the key factors driving the growth of the agritourism market. The growth of the global travel and tourism industry is significantly contributing to the growth of the global agritourism market. Also, the considerable expansion of the global tourism industry has had a corresponding positive impact on the GDP of several nations. Several governments worldwide have implemented strategies to accelerate the growth of their tourism industry. The global increase in the number of tourists has also accelerated the demand for farm stays. In recent years, the demand for farm stays, private homes, cabins, beach houses, villas, and cottages in and around agricultural lands has increased considerably. Baby boomers have been contributing significantly to the growth of the travel and tourism industry. Globally, the desire to travel has increased manifold in 2019. The popularity of adventure travel and tourism has enabled the growth of the global tourism industry, which has had a corresponding impact on the market in focus as well. Such factors will increase the market demand during the forecast period.
Key Agritourism Market Trend
The growing popularity of instant bookings will fuel the global agritourism market. In recent years, the trend of instant bookings has had a positive impact on the growth of the global agritourism market. Such booking processes are associated with minimal or zero wait time. Moreover, online agritourism sites also facilitate the real-time booking. This value-addition will improve the convenience of booking agricultural tours and contribute to increased customer satisfaction. The availability of instant booking options has increased the degree of product or service differentiation in the global agritourism market. Several vendors specify multiple options on their websites to ease the process of booking agritourism services. For instance, Beijing Youth Travel Agency Co. Ltd. offers several options to tourists to book their agritourism destinations. A.T. China offers options for various agribusiness destinations and regions, customization in agricultural tours, and visits to agricultural shows and events. The company also provides reviews of previous tourists to understand the experience received at different destinations. The above factors will increase the market demand during the forecast period.
Key Agritourism Market Challenge
The risks associated with fraudulent vacation rental houses, apartments, and homestays are a major challenge for the global agritourism market growth. Scams, fraudulent reviews, and unethical dealings affect the operations of the key vendors in the market. Although a few fraudulent players undertake such deals, their actions impact the reputation and business operations of genuine and key market vendors as well, which leads to a decline in the market's revenue and impedes its growth. Star Destinations, one of the key vendors in the market, provides user reviews and ratings. Better reviews and ratings from previous travelers help new travelers to make decisions faster. Such vendors also facilitate secure transactions and ensure that their customers are served effectively. However, false advertisements, adoption of the bait-and-switch technique, and double bookings have led to a decline in the market's overall revenue. Phishing has also had an adverse impact on the growth prospects of major vendors in the market. Thus, all these factors are expected to restrain the growth of the global agritourism market during the forecast period.
This agritourism market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global agritourism market as a part of the global hotels, restaurants, and leisure market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the global agritourism market during the forecast period.
Who are the Major Agritourism Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Agrotours Inc.
- Domiruth PeruTravel
- Innisfail Travel Service Ltd.
- Liberty Hill Farm
- Nokyo Tourist Corp.
- Quadrant Australia
- Star Destinations
- Stita Group
This statistical study of the agritourism market encompasses successful business strategies deployed by the key vendors. The global agritourism market is fragmented and the vendors are deploying growth strategies such as increased product or service extensions and technological innovations to compete in the market.
Product Insights and News
- Agrotours Inc. - The company offers agritourism services for individuals and agricultural companies and their customers and dealers.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The global agritourism market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Agritourism Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the global agritourism market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Agritourism Market?
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37% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for agritourism in North America. Market growth in this region will be faster than the growth of the market in regions.
The growing tourism industry will facilitate the global agritourism market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The market in North America was adversely affected in 2020 by the outbreak of COVID-19. This outbreak created a frightening scenario across North America and influenced the governments of several countries to impose a total lockdown in 2020, which led to the isolation of people in their homes. However, in 2021, the initiation of large-scale vaccination drives?has lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Such factors are expected to drive the market during the forecast period.
What are the Revenue-generating Application Segments in the Agritourism Market?
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The agritourism market share growth by the domestic segment will be significant during the forecast period. The growing enthusiasm among tourists to indulge in recreational activities such as visiting petting farms, pumpkin picking, and horseback riding is likely to drive them toward agritourism. Factors such as the presence of affordable wellbeing retreats and a significant increase in the number of company-sponsored vacations are expected to accelerate the growth of this segment during the forecast period.
During the COVID-19 pandemic, the domestic agritourism segment is expected to witness a severe decline, as people are restricted from traveling. This situation is expected to be extensive in North American countries such as the US and Canada. Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the global agritourism market size and actionable market insights on post COVID-19 impact on each segment.
Agritourism Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 2.37%
Market growth 2021-2025
$ 4.33 billion
YoY growth (%)
North America, Europe, APAC, South America, and MEA
Performing market contribution
North America at 37%
Key consumer countries
US, China, Germany, France, UK, and Canada
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Agrotours Inc., AgTours.US, Diniscor, Domiruth PeruTravel, Innisfail Travel Service Ltd., Liberty Hill Farm , Nokyo Tourist Corp., Quadrant Australia, Star Destinations, and Stita Group
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this Global Agritourism Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive global agritourism market growth during the next five years
- Precise estimation of the global agritourism market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the global agritourism industry across North America, Europe, APAC, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of global agritourism market vendors
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1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis: Hotels, restaurants, and leisure market
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 15: Application - Market share 2020-2025 (%)
- 5.2 Comparison by Application
- Exhibit 16: Comparison by Application
- 5.3 Domestic - Market size and forecast 2020-2025
- Exhibit 17: Domestic - Market size and forecast 2020-2025 ($ billion)
- Exhibit 18: Domestic - Year-over-year growth 2020-2025 (%)
- 5.4 International - Market size and forecast 2020-2025
- Exhibit 19: International - Market size and forecast 2020-2025 ($ billion)
- Exhibit 20: International - Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by Application
- Exhibit 21: Market opportunity by Application
6 Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 23: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 24: Geographic comparison
- 7.3 North America - Market size and forecast 2020-2025
- Exhibit 25: North America - Market size and forecast 2020-2025 ($ billion)
- Exhibit 26: North America - Year-over-year growth 2020-2025 (%)
- 7.4 Europe - Market size and forecast 2020-2025
- Exhibit 27: Europe - Market size and forecast 2020-2025 ($ billion)
- Exhibit 28: Europe - Year-over-year growth 2020-2025 (%)
- 7.5 APAC - Market size and forecast 2020-2025
- Exhibit 29: APAC - Market size and forecast 2020-2025 ($ billion)
- Exhibit 30: APAC - Year-over-year growth 2020-2025 (%)
- 7.6 South America - Market size and forecast 2020-2025
- Exhibit 31: South America - Market size and forecast 2020-2025 ($ billion)
- Exhibit 32: South America - Year-over-year growth 2020-2025 (%)
- 7.7 MEA - Market size and forecast 2020-2025
- Exhibit 33: MEA - Market size and forecast 2020-2025 ($ billion)
- Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- Exhibit 35: Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 36: Market opportunity by geography ($ billion)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.2.3 Impact of seasonality on agritourism
- Exhibit 37: Impact of drivers and challenges
- 8.3 Market trends
9 Vendor Landscape
- 9.1 Overview
- Exhibit 38: Vendor landscape
- 9.2 Landscape disruption
- Exhibit 39: Landscape disruption
- Exhibit 40: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 41: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 42: Market positioning of vendors
- 10.3 Agrotours Inc.
- Exhibit 43: Agrotours Inc. - Overview
- Exhibit 44: Agrotours Inc. - Product and service
- Exhibit 45: Agrotours Inc. - Key offerings
- 10.4 AgTours.US
- Exhibit 46: AgTours.US - Overview
- Exhibit 47: AgTours.US - Product and service
- Exhibit 48: AgTours.US - Key offerings
- 10.5 Diniscor
- 10.6 Domiruth PeruTravel
- Exhibit 52: Domiruth PeruTravel - Overview
- Exhibit 53: Domiruth PeruTravel - Product and service
- Exhibit 54: Domiruth PeruTravel - Key offerings
- 10.7 Innisfail Travel Service Ltd.
- Exhibit 55: Innisfail Travel Service Ltd. - Overview
- Exhibit 56: Innisfail Travel Service Ltd. - Product and service
- Exhibit 57: Innisfail Travel Service Ltd. - Key offerings
- 10.8 Liberty Hill Farm
- Exhibit 58: Liberty Hill Farm - Overview
- Exhibit 59: Liberty Hill Farm - Product and service
- Exhibit 60: Liberty Hill Farm - Key offerings
- 10.9 Nokyo Tourist Corp.
- Exhibit 61: Nokyo Tourist Corp. - Overview
- Exhibit 62: Nokyo Tourist Corp. - Product and service
- Exhibit 63: Nokyo Tourist Corp. - Key offerings
- 10.10 Quadrant Australia
- Exhibit 64: Quadrant Australia - Overview
- Exhibit 65: Quadrant Australia - Product and service
- Exhibit 66: Quadrant Australia - Key offerings
- 10.11 Star Destinations
- Exhibit 67: Star Destinations - Overview
- Exhibit 68: Star Destinations - Product and service
- Exhibit 69: Star Destinations - Key offerings
- 10.12 Stita Group
- Exhibit 70: Stita Group - Overview
- Exhibit 71: Stita Group - Product and service
- Exhibit 72: Stita Group - Key offerings
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- Exhibit 73: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 74: Research Methodology
- Exhibit 75: Validation techniques employed for market sizing
- Exhibit 76: Information sources
- 11.4 List of abbreviations
- Exhibit 77: List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Growing tourism industry
- Growing popularity of instant bookings
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