10-May-2022 | Zion Market Research
The global aquaponics market was worth around USD 872.7 million in 2021 and is estimated to grow to about USD 1807.293254 million by 2028, with a compound annual growth rate (CAGR) of approximately 12.9 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.
Aquaponics is a food-production system that combines aquaculture (raising aquatic animals such as fish, crayfish, snails, or prawns in tanks) and hydroponics (growing plants in water), in which nutrient-rich aquaculture water is fed to hydroponically grown plants, where nitrifying bacteria convert ammonia to nitrates. Because all aquaponic systems are based on current hydroponic and aquaculture farming techniques, the size, complexity, and types of foods grown in an aquaponic system can vary as much as any system found in a distinct agricultural discipline.
The need for organically grown crops has tremendous potential and an untapped space for emerging aquaponic farms and aquaponic system suppliers because aquaponics is devoid of chemical fertilizers and crop protection chemicals, with fish waste serving as the primary nutrient for plants. Additionally, aquaponics contributes to sustainability while also meeting the growing demand for organic veggies. By increasing the efficiency of growing these veggies in an environmentally responsible manner, waste is also decreased. Farmers are gradually adopting aquaponics for the cultivation of fresh organic vegetables as demand for organic veggies continues to climb, which is expected to drive the aquaponics industry. Furthermore, locally grown vegetables are fresher, have a better flavor, have a longer shelf life, and have low shipping expenses.
The global aquaponics market is segregated based on type, component, equipment, application, and end-user. Based on Type, the global market is distinguished into Media Filled Growbeds (MFG), Nutrient Film Technique (NFT), Deep Water Culture (DWC), and Others. Based on Component, the global market is distinguished into Bio Filter, Settling Basins, Fish tanks, Soil-free plant beds, Rearing Tanks, Aquaponic Produce, and Others. Based on Equipment, the global market is distinguished into Pumps and Valves, Water Heaters, Fish Purge Systems, Aeration Systems, Water Quality Testing, and Others. Based on Application, the global market is distinguished into Fish, Herbs, Fruits, and Vegetables. Based on End-User, the global market is distinguished into Commercial, Home Production, and Research.
The North American region holds the highest market share in the global aquaponics market, owing to the increasing adoption of contemporary agricultural techniques and the growing demand for organic food. Due to continuing technical improvements, the Asia-Pacific region holds the second-largest market share in the aquaponics industry. Furthermore, the industry is driven by rising demand for improved agricultural production in nations like China and India. Due to the availability of well-established infrastructure, the European region holds the third-largest market share in the aquaponics market. Furthermore, the adoption of simple technical processes was accompanied by a rise in per capita income. The aquaponics industry is also growing in Latin America and the Middle East and Africa, owing to rising demand for low operating costs combined with rising demand for organic food.
Key players functioning in the global aquaponics market include Aquaponic Lynx LLC, GreenLife Aquaponics, Nelson & Pade Aquaponics, The Aquaponic Source, ECF Farm systems GmbH, MyAquaponics, Backyard Aquaponics, NutraPonics Canada Corporation, Symbiotic Aquaponic, and Endless Food Systems.
Browse the full “Aquaponics Market By Type (Media Filled Growbeds (MFG), Nutrient Film Technique (NFT), Deep Water Culture (DWC), and Others), By Component (Bio Filter, Settling Basins, Fish tanks, Soil-free plant beds, Rearing Tanks, Aquaponic Produce, and Others), By Equipment (Pumps and Valves, Water Heaters, Fish Purge Systems, Aeration Systems, Water Quality Testing, and Others), By Application (Fish, Herbs, Fruits, and Vegetables), By End-User (Commercial, Home Production, and Research)” Report at https://www.zionmarketresearch.com/report/aquaponics-market
Global aquaponics market is segmented as follows:
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