Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Rural Activities Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The recent market research report on rural activities indicates significant growth within the industry, projecting the market to ascend from its current valuation of $2,489.52 billion in 2023 to $2,686.44 billion in 2024, boasting a robust compound annual growth rate (CAGR) of 7.9%. This ascending trajectory is poised to continue, with further expansion anticipated to reach a market size of $3,625.1 billion by 2028 at a CAGR of 7.8%.
Underpinning such growth are several key factors, including the escalation of eco-tourism and agritourism ventures, sustainability-driven agricultural practices, and a surge in digital connectivity that bridges the gap between urban amenities and rural locales. Trends such as the farm-to-table movement, burgeoning craft breweries and distilleries in rural contexts, and a focus on community-supported agriculture underscore the diverse opportunities energizing the market.
Government Initiatives: Fueling Sector Expansion
Governmental initiatives play a pivotal role in energizing the rural activities sector, catering to improvements in both quality of life and economic prospects. Strategies include enhancing rural competitiveness, investing in infrastructure, and bolstering support for local agricultural entities. Notably, programs like the $50 million Rural Competitiveness and Resilience Activity underscore the commitment to fostering sustainable community growth.
Innovation and Technology: Shaping Future Prospects
Innovations such as drone technology are asserting a transformative influence on the market, optimizing agricultural efficiency and broadening the horizons of traditional farming practices. The burgeoning global drone market, with forecasts estimating a rise to $43.35 billion by 2025, exemplifies the potential and growing adoption of these aerial assets.
Key Market Segments and Players
The comprehensive scope of the market encapsulates various sectors, including forestry, logging, fishing, hunting, and agricultural services, among others. Major entities renowned for their substantial market presence are spearheading developments, particularly in areas like rural healthcare, optimizing service delivery with advanced technology to serve remote regions more effectively.
- Regional Insights: The Asia-Pacific region leads the market, encompassing a diverse range of activities from commercial aquaculture to forestry. North America follows, contributing sizeable market share, indicative of the sector's global scale and relevance.
- Market Definition: The defined market covers a vast array of activities—pertaining chiefly to the sourcing, collection, and distribution of rural-origin goods and services, geared towards satisfying demand from both local and broader geographic consumer bases.
- Global Reach: Spanning continents, the market report provides insights into regional dynamics and country-specific nuances, from powerhouse economies to emerging players in the rural landscape.
A selection of companies mentioned in this report includes
- Land O'Lakes Inc.
- Nippon Suisan Kaisha Ltd.
- Maruha Nichiro Corporation
- Olam International
- Resolute Forest Products Inc.
- Rayonier Inc.
- Weyerhaeuser Company
- Stora Enso Oyj
- PotlatchDeltic Corporation
- CELULOSA ARAUCO Y CONSTITUCIÓN S.A.
- Deere & Company
- CNH Industrial N.V.
- Mahindra & Mahindra Limited
- AGCO Corporation
- DeLaval International AB
- Vermeer Corporation
- CLAAS KGaA mbH
- Kubota Tractor Corporation
- Massey Ferguson Limited
- JCB Limited
- Argo Tractors S.p.A.
- Valtra Oy
- Zetor Tractors a.s.
- McCormick Tractors
- New Holland Agriculture
- KIOTI Tractor
- Farmtrac Tractors Europe sp. Z o.o.
- Sonalika International Tractors Limited
- Tractors and Farm Equipment Limited
- Kuhn Group
- Amazone Landtechnik GmbH & Co. KG
- Andreas Stihl AG & Co. KG
- Husqvarna Group
- Simplicity Manufacturing LLC
- AriensCo
- Escorts Limited
- Yanmar Co. Ltd.
- Agri-Fab Products Company
For more information about this report visit https://www.researchandmarkets.com/r/uonid8
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