The global agritourism market is anticipated to exhibit astonishing growth in the near future because of the rising government initiatives to refine agriculture economy through agritourism. This information is given by Fortune Business Insights™, in a recently published report, titled, “Agritourism Market Size, Share & Industry Analysis, By Type (Direct-market Agritourism, Education & Experience Agritourism, and Event & Recreation Agritourism), and Regional Forecast, 2020 – 2032.” The report further mentions that the agritourism market size was USD 69.24 billion in 2019 and is projected to reach USD 197.37 billion by 2032, exhibiting a CAGR of 8.88% during the forecast period (2020-2032).

The emergence of the COVID-19 pandemic has affected almost every industry severely. But, due to relaxations in the lockdown measures, numerous companies have begun their production processes. However, they are maintaining social distancing and low workforce to prevent the spread of this deadly infection. Our specially curated reports would help you in better understanding the scenario of various markets. This way, you will be able to adopt the most appropriate strategy to gain success in business.

Information Source: https://www.fortunebusinessinsights.com/agritourism-market-103297

This Report Answers the Following Questions:

• What are the growth drivers and obstacles in this market?
• What are the opportunities and challenges in this market?
• Which segment is expected to lead in the coming years?
• Which region is anticipated to dominate in the near future?
• Which strategies are being adopted by companies to promote agro-tourism?

Drivers & Restraints-

Transformation of Properties into Agritourism Destinations by Farmers to Aid Growth

Tourism and recreational activities help in generating high revenue for the agricultural farms worldwide. Hence, nowadays, various farm owners are shifting towards transforming their properties into agriculture tourism destinations at a fast pace. This is a major agritourism market growth driver. The Census of Agriculture data, for instance, declared that in the U.S., between the period of 2002 and 2017, the agritourism revenues tripled from farms. This proves that investments in the agro-tourism business are surging rapidly as the farmers are suffering huge losses on account of low productivity of crops.

How will COVID-19 Pandemic Impact the Global Market?

• The present outbreak of the COVID-19 pandemic has severely impacted the tourism sector.
• Lockdown measures, as well as the complete halt in transportation in many countries across the globe have majorly affected this industry.
• The market statistics is unpredictable owing to the uncertainty associated with this situation.
• But, the growth is likely to revive in the near future stoked by the improvements in this situation.

Segment-

Direct-market Agritourism Segment to Gain from Rising Sales of Farm Products