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Market Synopsis:According to Market Research Future (MRFR)’s recent study, the global aquaponics market is expected to witness rapid growth during the forecast period. An upsurge in demand for organic food is prognosticated to propel the expansion of the market over the next few years.
Aquaponics facilitate cultivation of crops without water as well as helps in nurturing fish as an extra source of food. This, in turn, has accelerated its adoption in both developed and developing nations. The developing nations resonate immense growth opportunities and are anticipated to emerge as important country-level aquaponics market over the next couple of years.
The improvement in technologies for enhanced efficiency dictates the growth trajectory of the aquaponics market. In addition, other factors such as off-season availability of fruits and vegetables, developments in urban farming procedures, the symbiosis between farming and aquaculture, etc. are expected to catapult the market on an upward trajectory.
The growth of the hydroponics market is also poised to have a favorable impact on the proliferation of the aquaponics market over 2022. The crops yielded through aquaponics offer relatively higher margins compared to traditionally produced ones. This, in turn, is anticipated to further boost the adoption of aquaponics system in the forthcoming years.
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Competitive Dashboard:
Some of the key payers profiled in the report are Urban Farms AG (Switzerland), Colorado Aquaponics (U.S.) ECF Farmsystems GmbH (Germany), My Aquaponics (South Africa), Nelson & Pade Inc. (U.S.), Backyard Aquaponics Pty Ltd (Australia), and Greenlife Aquaponics (U.S.)
Industry News:
In November 2018, Deepwater Farms, a 1000 sq feet aquaponics facility, is growing green leafy vegetables and raising fishes in Calgary, which is a land-locked and arid region.
In November 2018, engineering students at Viterbo have developed aquaponics pump system that cycle water to plant beds from aquariums, and it filters the water for depositing it back to the aquariums.
In November 2018, a development team based out of Hungary has developed a smart aquaponics and hydroponics system controller, named AquaSheild.
In November 2018, Heifer International, a global nonprofit organization working to eradicate poverty and hunger, has debuted first commercial, carbon-neutral, carbon-neutral aquaponics farm.
Market Segmentation:
By production type, the global aquaponics market has been segmented into fish, vegetables & fruits, herbs and others
By equipment, the aquaponics market has been segmented into pumps and valves, grow lights, water heaters, grow lights, water quality testing, fish purge systems, aeration systems, and others
By component, the global aquaponics market has been segmented into sump, rearing tanks, biofilter, hydroponics subsystem, settling basin and others
By application, the aquaponics market has been segmented into commercial, home food production, education, and research and others.
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Regional Insights:
The global aquaponics market, by region, has been segmented into North America, Europe, Asia Pacific, and Rest of the World. North America is the largest market for aquaponics and is expected to grow significantly over the next couple of years. The rising demand for organic food is projected to drive the growth of the regional market in the upcoming years. Furthermore, the growing health-conscious population is also prognosticated to boost the expansion of the aquaponics market in the region.
Europe is an important revenue pocket of the global aquaponics market. The innovations in technology and its early adoption are likely to fuel demand for aquaponics in the region. Furthermore, the focus on enhancement of efficiency of the aquaponics system coupled with the availability of funds for research & development has accelerated the revenue creation for the participants of the aquaponics market.
Asia Pacific is a highly attractive market for aquaponics and is expected to strike a relatively higher CAGR during the assessment period. The thriving agriculture sector of the region, depletion of natural resources, and exponential growth of population have intensified the need for the adoption of the latest technologies for cultivation. This, in turn, is expected to augment the aquaponics market over the review period.
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Website: https://www.marketresearchfuture.com/reports/aquaponics-market-2257
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