The article considers the trends taking place in modern conditions in the agrarian sphere – peasant farms. Concepts and definitions characterizing the essence of functioning new agrarian forms of economy are analyzed. The place and role of the state and farming as equal partners in the social arrangement of rural areas and in the preservation of the traditional way of life in the countryside is emphasized. The author considers some of the concepts and definitions to be generally accepted, the other ones are of a search and research nature, which gives the article originality. Contradictions and problems impeding the development of new agrarian forms of economy are revealed. The relevance of the theme consists in the need to develop family farms as a priority form of individual entrepreneurship and as an important source of sustainable growth in food production. The long-term domestic experience of development of peasant farms and private holdings using achievements in foreign countries is studied and on this basis, practical recommendations on accelerated development of individual forms of agricultural production are offered. In general, the agricultural economy should be diversified in order to provide social protection, the opportunity to generate employment and increase the profitability of farmers.