NEW YORK, May 12, 2022 /PRNewswire/ -- As per Zion Market Research study, The global aquaponics market was worth around USD 872.7 million in 2021 and is estimated to grow to about USD 1807.29 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.
Key Industry Insights & Finding of the Aquaponics Market Reports:
- As per the analysis shared by our research analyst, the Aquaponics Market is expected to grow annually at a CAGR of around 12.9 % (2022-2028).
- Through the primary research, it was established that the Aquaponics Market was valued approximately USD 872.7 Billion in 2021 and is projected to reach to roughly USD 1807.29 Billion by 2028.
- North American area has the largest market share in the worldwide aquaponics industry.
- Asia-Pacific region has the second-largest market share in the aquaponics industry, thanks to ongoing technological advancements.
- European region has the third-largest market share in the aquaponics market due to the presence of a well-established infrastructure.
- Due to rising demand for low operating costs combined with high yields, the aquaponics industry is expanding in Latin America, the Middle East, and Africa.
Zion Market Research published the latest report titled as "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) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 - 2028" into their research database.
Aquaponics Market: Overview
Aquaponics is a food-production method that combines aquaculture (the breeding of aquatic animals in tanks) and hydroponics (the growing of plants in water), in which nutrient-rich aquaculture water is delivered to hydroponically grown plants, where nitrifying bacteria convert ammonia to nitrates. Because all aquaponic systems are based on contemporary hydroponic and aquaculture farming techniques, the size, complexity, and types of foods grown in an aquaponic system can differ just as much as any other system found in a different agricultural field.
Because aquaponics is free of artificial fertilizers and crop protection chemicals, and fish waste serves as the principal nutrition for plants, the demand for organically grown crops has huge potential and an unexplored market for emerging aquaponic farms and aquaponic system vendors.
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- Zion Market Research methodology
Industry Dynamics:
Aquaponics Market: Growth Dynamics
Drivers: Free from any interference of harmful fertilizers or pesticides.
There are no toxic fertilizers or pesticides present in the aquaponics culture's produce. The World Bank's Fertilizer Price Index is forecasting an upward trend. The fish waster, which grows in water solvents, is a wonderful natural fertilizer for these veggies. This also helps to cut down on the costs of using fertilizers in large-scale production. Furthermore, no expensive equipment is used, implying that the market is profitable in the long run.
Restraints: Competition from hydroponics and vertical farming.
Agricultural techniques such as hydroponics and vertical farming are causing a surge in the use of sustainable agricultural methods. This is offering a significant hurdle to the market's expected growth over the forecast period, which ends in 2028.
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Global Aquaponics Market: Segmentation
- The global aquaponics market is segregated based on type, component, equipment, application, and end-user.
By Application, the global market is classified into Fish, Herbs, Fruits, and Vegetables. Fish has the largest market share and is expected to grow at the fastest rate over the projected period. The need for this segment is being driven by reasons such as rising global population, changing lifestyles, and increasing seafood demand for human consumption.
By Equipment, the global market is classified into Pumps and Valves, Water Heaters, Fish Purge Systems, Aeration Systems, Water Quality Testing, and Others. During the projected period, the others (grow lights for plants) category will have the biggest market share. The demand for this category is being accelerated by factors such as growing indoor farming and increasing utilization of grow lights in indoor farming.
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List of Key Players of Aquaponics Market:
- Aquaponic Lynx LLC
- GreenLife Aquaponics
- Nelson & Pade Aquaponics
- The Aquaponic Source
- ECF Farm systems GmbH
- MyAquaponics
- Backyard Aquaponics
- NutraPonics Canada Corporation
- Symbiotic Aquaponic
- Endless Food Systems.
Key questions answered in this report:
- What are the growth rate forecast and market size for Aquaponics Market?
- What are the key driving factors propelling the Aquaponics Market forward?
- What are the most important companies in the Aquaponics Market Industry?
- What segments does the Aquaponics Market cover?
- How can I receive a free copy of the Aquaponics Market sample report and company profiles?
Report Scope:
Report Attribute | Details |
Market size value in 2021 | USD 872.7 Million |
Revenue forecast in 2028 | USD 1807.29 Million |
Growth Rate | CAGR of almost 12.9 % 2022-2028 |
Base Year | 2020 |
Historic Years | 2016 - 2021 |
Forecast Years | 2022 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Million), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2022 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered | 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. |
Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. https://www.zionmarketresearch.com/custom/2240 |
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Recent Developments
- April 2021- France-based indoor farming company Les Nouvelles Fermes raised EUR 2 million (approximately USD 2.4 million) in its first round of funding by the investors from IRDI, the Banque des Territoires, Crédit Agricole Aquitaine and the CIC. The company has plans to build the largest aquaponic farm in Europe, with this funding.
- 2019- Superior Fresh, the Midwest's premier aquaponic produce provider, has increased the size of its greenhouses from 6 to 13 acres and the size of its aquaculture facility from 40,000 to 100,000 square feet.
Regional Dominance:
- Asia-Pacific region has the second-largest market share.
Because of the increasing use of modern farming techniques and the growing demand for organic food, the North American area has the largest market share in the worldwide aquaponics industry. The Asia-Pacific region has the second-largest market share in the aquaponics industry, thanks to ongoing technological advancements. Furthermore, increased demand for improved agricultural productivity in countries such as China and India drives the business. The European region has the third-largest market share in the aquaponics market due to the presence of a well-established infrastructure. Furthermore, easy technical process adoption was followed by an increase in per capita income. Due to rising demand for low operating costs combined with high yields, the aquaponics industry is expanding in Latin America, the Middle East, and Africa.
Global Aquaponics Market is segmented as follows:
Aquaponics Market: By Type Outlook (2022-2028)
- Media Filled Growbeds (MFG)
- Nutrient Film Technique (NFT)
- Deep Water Culture (DWC)
- Others
Aquaponics Market: By Component Outlook (2022-2028)
- Bio Filter
- Settling Basins
- Fish tanks
- Soil-free plant bed
- Rearing Tanks
- Aquaponic Produce
- Others
Aquaponics Market: By Equipment Outlook (2022-2028)
- Pumps and Valves
- Water Heaters
- Fish Purge Systems
- Aeration Systems
- Water Quality Testing
- Others
Aquaponics Market: By Applications Outlook (2022-2028)
- Fish
- Herbs
- Fruits
- Vegetables
Aquaponics Market: By End-User Outlook (2022-2028)
- Commercial
- Home Production
Aquaponics Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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