A novel report on global Aquaponics market forecast to 2026 has been recently published by Reports and Data. The global aquaponics market was valued at more than USD 580 million in 2018 and is expected to cross USD 1.7 billion by 2026, growing at a CAGR of more than 13.5% through the forecast period. This report on the market sheds light on all the essential factors such as the size, share, demand, growth, gross profits, earnings, and revenue to evaluate the rise of the industry in the future. It assesses the data gathered from the past years 2016 and 2017 to give an extensive view of the trends and predicts the possible rise of the industry during the years 2019 to 2026 while considering 2018 as the base year.
Market Dynamics:
Agriculture is one of the fastest growing sector across the globe due to increasing demand for good quality food and constantly growing population. The agricultural industry is rapidly gaining popularity over the recent years and has contributed to overall economic growth. Increasing adoption of organic products and fertilizers, rising environmental concerns and water shortage, availability of modern techniques to boost crop yield, rapid integration of ICT, and aerial seeding through drones are some significant factors fueling revenue market growth. In addition, increasing investments in research and development activities and government initiatives to support agricultural sector and funding from various public and private sectors is fueling market growth.
Aquaponics is a combination of aquaculture and hydroponics. Hydroponics is the method of cultivating plants without soil, using mineral nutrients solutions in water. Aquaculture or Aquafarming is the farming of fish, crustaceans, mollusks, aquatic plants, algae, and other organisms in a controlled environment. Any system that combines hydroponics and aquaculture in a symbiotic environment can be termed as aquaponics. In a conventional aquaculture system, the waste from animals gets amassed together increasing the toxicity. In an aquaponics system, the wastewater from the aquaculture is channeled directly towards the hydroponics system where bacteria breaks down the waste, first into nitrites, and then into nitrates which are then utilized by the plants. The remaining water is then recirculated back to the aquaculture system.
According to Nelson and Pade, a US-based company, the business produces eight times more food per acre in 1/6th of the space required by traditional agriculture. An aquaponics system can be set up in both rural and urban environment with less space. Moreover, it does not require any expensive farm equipment, agricultural machinery, and fertilizers. It uses the natural fertilizers produced by aquatic life. Therefore, the decrease in arable land, higher output per acre as compared to agricultural fields, the economic efficiency, and environmental sustainability, and the rising trend of organic farming are the major driving factors of the market.
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The global Aquaponics market is quite competitive and comprises various key players at global and regional levels. Major players are focusing on adopting various strategies such as mergers and acquisitions, partnerships and joint ventures to establish market footing. These are investing in R&D to develop enhanced products and devices, modern farming systems and other techniques to boost farm and livestock productivity. Major companies operating in the global Aquaponics market are Backyard Aquaponics Pty Ltd, Nelson & Pade Inc., Colorado Aquaponics, Urban Farms AG, My Aquaponics, ECF Farm Systems GmbH among others.
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The data presented in the report is obtained through authentic sources and is verified by professionals and experts in the industry. The report also provides SWOT analysis and Porter’s five force analysis to help user understand about current market insights. The report also offers detailed insights about market segmentation based on type, and application.
Aquaponics Market Segmentation:
Type Outlook:
- Fish
- Fruits
- Herbs
- Vegetables
Equipment Outlook:
- Aeration System
- Fish Purge Systems
- Grow Lights
- In-Line Water Heaters
- Pumps & Valves
- Others
The report also focuses on industry development in 5 major regions in the world including North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Regional Outlook of Aquaponics Market:
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- A.E.
- South Africa
- Rest of MEA
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