Global Aquaponics Market is valued at USD 863.5 Million in 2021 and is expected to reach USD 1985.3 Million by 2028 with a CAGR of 12.60% over the forecast period.
Aquaponics is the combination of two words, aquaculture and hydroponics. Aquaculture is the cultivation of aquatic organism in controlled aquatic environment such as fish and hydroponics is method of growing plants without soil, by using mineral nutrient solution in water solvent. Aquaponics is method of raising fish and vegetables in one tank without soil. In aquaponics, plants use ammonia (NH3) excreted by fish as a waste product from protein metabolism is converted to nitrate (NO3 -) by nitrifying bacteria for the growth of plants. Quality of water for the fish is improved by plants; they act as a water filtration system by absorbing nitrogenous and mineral wastes. Fish are the source of nutrients for the plants, they nitrifying the bacteria and convert fish waste products to nutrients for the plants. In aquaculture various fruits and vegetables are grown such as lettuce, broccoli, herbs, tomatoes, beets, cucumber, orange, limes and lemons. Benefits of aquaponics farming are it reduced soil borne diseases, free from harmful pesticides and herbicides, reduces cost of fish waste filtration by conventional method, provides natural fertilizer source from fish waste.
Aquaponics market is segmented into produce type, components, equipment, application, region and country. On the basis of produce type, aquaponics market is segmented into fish, fruits & vegetables, herbs and others. Based on the component, aquaponics is segmented into rearing tank, settling basin, bio-filters, sump tank and others. On the basis of equipment, aquaponics market is segmented into grow light, water heater, aeration system, pumps and valves, water heater and others. On the basis of application, aquaponics market is segmented into commercial, home production, research centre and others.
The regions covered in global aquaponics market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, Global aquaponics market sub divided in U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global aquaponics market reports cover prominent players like,
The key factor for the growth of aquaponics market is growing awareness about benefit of organic fruits and vegetables among consumers. Furthermore, rapid urbanization, hectic lifestyle and rising disposable income of the people thus increase demand of organic fruits and vegetable in worldwide is driving the demand for aquaponics market. In addition, changing climatic conditions bring new stress on agriculture production and cause effect on crops coupled with the simultaneous cultivation of fruits & vegetables along with fishes and others with environment friendly is driving the growth of aquaponics market. Additionally, high productivity and profit growth coupled with technological advancement in agriculture and aquaculture is driving the growth of aquaponics market. However, the factors which restrict the growth of aquaponics market is high cost of initial setup and maintenance of aquaponics farming. Moreover, introduction of automation in aquaponics farming and availability of fruits and vegetable sin off- seasons will create huge opportunity in aquaponics market.
North America is expected to dominate the growth of aquaponics market due to increasing demand for organic fruits and vegetable in countries such as U.S., Canada. According to Organic Trade Association, Sales of organic fruits and vegetables rose by 5.6% to USD 17.40 billion in 2018 from USD 16.42 billion during the previous year. Furthermore, increasing demand for seafood such as fish in this region is driving the growth of aquaponics market.
Europe is projected to grow at faster pace due to increasing advance agriculture practices coupled with new technological innovations. Furthermore, increasing awareness about organic fruits and vegetables in this region is driving the growth of aquaponics market.
Asia-Pacific is anticipated to grow due to increasing population in countries such as China, India coupled with rising disposable income of the people in this region. Additionally, increasing health awareness among the people thus, increases demand for organic fruits and vegetables in this region.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 863.5 Million|
|Base year considered||2021|
|Forecast Period CAGR %:||12.60%|
|Market Size Expected in 2028:||USD 1985.3 Million|
|Tables, Charts & Figures:||175|
|Companies/Key Companies||Backyard Aquaponics Pty Ltd, Greenlife Aquaponics, Nelson & Pade Inc., Urban Farms AG, Hydronov LLC., Practical Aquaponics, The Aquaponic Source, Nutraponics Canada Corporation,|
|Segments Covered||By Product Type, By Component, By Equipment, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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