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Changing Climatic Conditions Fuel the Growth of the Aquaponics Market
According to a new market research report titled, ‘Aquaponics Market by System (Media Based Aquaponics, Raft System), Equipment (Grow Lights, Pumps & Valves), Facility Type (Glass Greenhouses, Indoor Vertical Farms), Product Type (Fish, Vegetables, Herbs, Fruits), Application - Global Forecast to 2030,’ the aquaponics market is expected to reach $2.36 billion by 2030, at a CAGR of 13.0% from 2023 to 2030.Aquaponics is an integrated closed-loop multi-trophic food production system that combines elements of a recirculating aquaculture system (RAS) and hydroponics. Aquaponics is a sustainable method to grow food, using less water and land than traditional methods. Aquaponics has recently generated significant attention for recovering resources (vegetables/fruits) from aquaculture effluent. Aquaponics produces organic vegetables by recycling nutrients in aquaculture effluent under a symbiotic environment among fish, plants, and bacteria. Additionally, the increasing requirement for organic food is expected to boost the demand for aquaponics.
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Based on system, the aquaponics market is segmented into media-based aquaponics system, nutrient film technique, raft system, and other systems. In 2023, the media-based aquaponics system segment is expected to account for the largest share of the aquaponics market. The large market share of this segment is attributed to their versatility, ease of implementation, and ability to support a wide variety of plant species. In addition, it offers a balanced approach that combines aquaculture and hydroponics, making them popular among commercial practitioners.
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Based on equipment, the aquaponics market is segmented into grow lights, pumps and valves, fish purge systems, in-line water heaters, aeration systems, and other equipment. In 2023, the grow lights segment is expected to account for the largest share of the aquaponics market.
Based on facility type, the aquaponics market is segmented into poly or glass greenhouses, indoor vertical farms, and other facility types. In 2023, the poly or glass greenhouses segment is expected to account for the largest share of the aquaponics market. The large market share of this segment is attributed to its ability to maintain a controlled environment, offer excellent insulation, reduce heat loss, and provide more stability & durability in extreme weather conditions.
Based on product type, the aquaponics market is segmented into fish, vegetables, herbs, and fruits. In 2023, the fish segment is expected to account for the largest share of the aquaponics market. The large market share of this segment is attributed to the rising global population, changing lifestyle, growing consumer inclination toward pescetarianism, and increasing awareness about the health benefits associated with seafood.
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Based on application, the aquaponics market is segmented into commercial, home production, and other applications. In 2023, the commercial segment is expected to account for the largest share of the aquaponics market. The large market share of this segment is attributed to the growing demand for organic food products in the local market and the need to reduce production costs with the increase in the profitability of farming.
Based on geography, in 2023, North America is expected to account for the largest share of the aquaponics market. North America’s major market share is attributed to several factors, including the rapid growth in population, increasing demand for organic products, improvement in urban farming methods, increasing health awareness among consumers, and technological advancement and innovations in agriculture.
The market in Asia-Pacific is also slated to register the fastest growth rate during the forecast period. The growth of this regional market is driven by increasing technological advancement. Additionally, the rising demand in the farming sector for higher productivity in countries such as China and India will likely drive the aquaponics market's growth in the upcoming years.
The key players operating in the aquaponics market are Pentair Aquatic Eco-System, Inc. (U.S.), Nelson and Pade, Inc. (U.S.), Aquaponics USA (U.S.), Greenlife Aquaponics (U.S.), The Aquaponic Source, Inc. (U.S.), Symbiotic Aquaponic LLC (U.S.), Practical Aquaponics (Australia), ECF Farmsystems GmbH (Germany), MyAquaponics PTY Ltd (South Africa), AquaCal AutoPilot, Inc (U.S.), and Ichthys Aquaponics (South Africa).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/aquaponics-market-5018?utm_source=pdf&utm_medium=social&utm_campaign=product&utm_content=04-01-2024
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