Market Snapshot:
Aquaponics refers to a process which combines conventional agriculture methods with hydroponics, a method of growing plants without soil. In an aquaponic system, the aquaculture system is used to feed water to a hydroponic system where products are broke down by nitrifying bacteria and water is recirculated in an aquaponic system. Aquaponics market has high growth prospects owing to increasing demand for the organic food and technological developments towards farming of medicinal plants.
Highlights from Aquaponics Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.42% |
The key Vendors profiled in the report are Pentair Aquatic Eco-Systems, Inc. (United States), Nelson & Pade Inc. (United States), ECF Farm systems GmbH (Germany), AquaCal AutoPilot, Inc. (United States), Japan Aquaponics (Japan), GrowUp Urban Farms Ltd. (United Kingdom), Kunia Country Farms LLC (United States), Green Life Aquaponics (United States), Water Farmers Aquaponics (Canada), Lucky Clays Fresh (United States), Global Aquaponic Systems Corporation (United States), Ichthys Aquaponics (South Africa) and Aponic Ltd. (United Kingdom). Additionally, other players that are part of this comprehensive study are Red Ewald, Inc. (United States), The Aquaponic Manufacture GmbH (Germany) and NutraPonics Canada Corporation (Canada).
Geographic Breakdown and Segment Analysis
The Global Aquaponics market presents a comprehensive analysis of the Aquaponics market by product type (Fish (Tilapia, Carps, Catfish, Bluegils, Koi, Trout, Ornamentals, Others), Vegetables (Tomato, Peppers, Cucumber, Herbs, Lettuce, Kale, Bok Choy, Others) and Others), by end-user/application (Water and energy usage, Feed source, Fish stocking, Disease and pest management, Automation, Monitoring, and control and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Aquaponics industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Aquaponics market
Analyst at AMA have segmented the market study of Global Aquaponics market by Type, Application and Region.
Influencing Trend:
Development in Cost-Effective Solutions for High-Value Crops and Emphasizing On Reducing the Use of Artificial Fertilizers
Market Growth Drivers:
Increasing Demand for Aquaponics Owing To Erratic Climatic Conditions and Higher Yield Production Compared To Traditional Agricultural Methods
Challenges:
Constantly Monitoring Of Water Supply in the Aquaponics Systems and Inability to Grow Root Crops With Aquaponics Systems
Restraints:
High Setup Cost Associate with Aquaponics Systems and Lack of Technical Expertise to Operate Aquaponics Systems
Opportunities:
Increasing Demand for Constant Food Production to Meet Demand and Supply Requirements and Development in Advanced Farming Technologies
Market Developments Activities:
In March 2021, Aquaponics landed in Japan, already providing training and R&D opportunities, and ultimately aiming to develop a robust commercial market for hydroponic products.
8 February 2019, The United States Department of Agriculture approves to sold aquaponics and hydroponic products under USDA’s organic seal. This is creating competition among producer of organic products through the soil and aquaponic system.
Aquaponics market is fragmented owing to the number of players present in the market. Market players are focusing on developing advanced farming technique expected to grow the market in the long standing.