Rural Activities Market size is valued at USD 1,985.96 billion in 2021 and poised to grow at a CAGR of 11.2% during the forecast period 2022-28. Rural activity means wildlife management, associated historic, scientific research, cultural, farming, and natural activities and attractions. The essential characteristics of the rural community include the size of the community, nature connection, homogeneity of population, social stratification, social interaction, social mobility, social solidarity, the density of population, agriculture, and joint family. Agriculture is the main rural life activity of the rural people and it develops the rural economy. However, fishing, hunting, and trapping, forestry and logging, animal husbandry are also very popular rural activities and occupations of rural people. The technological innovations in agriculture sectors decrease the difficulties and efforts in farming, thereby agriculture industry is prospering rapidly. The agriculture industry comprises enterprises or global companies that are majorly involved in cleaning, processing, storing, or packing various types of crops. High-yield crop production with resistance to drought, flood, and insects will drive the rural economy due to government initiatives and investment in the research and development sector. Fish farming is also a very popular rural activity that will drive the growth of the global rural activities market. However, rapid urbanization and the shift of population from village to town are hampering the global rural activities market. Asia Specific region is dominating the rural activities market and is expected to maintain the trend further in the forecasted years.
Recent Market Developments:
In Jan 2022, Land O’Lakes, Inc. and the Center on Rural Innovation (CORI) announced the launch of the first American Connection Community in Aberdeen, South Dakota.
In June 2019, Global agricultural cooperatives, Land O’Lakes, Inc., and Netherlands-based Royal Agrifirm Group announced that they will be setting up a dairy animal feed joint venture in China.
In June 2021, Nippon Suisan Kaisha acquired a majority stake in a UK seafood processor.