As per FMI’s analysis, the global aquaponics market is predicted to surge from US$ 1,560 million in 2023 to US$ 3,415.5 Million by 2033. The aquaponics industry is set to observe significant growth in the assessment period. Aquaponics proponents frequently quote plenty of advantages that result from this form of farming.
Its consideration for the environment is a big plus. Aquaponics systems use only 10% of the water required to cultivate conventional crops. With efficient resource management, the use of pesticides, herbicides, and synthetic fertilisers can be significantly reduced or even completely eliminated.
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Unquestionably, consumers are now more cautious when making daily judgements due to rapid global warming. People all over the world are becoming more discerning and interested in sustainable practises as a result.
If there is enough space, the aquaponics systems can be quickly scaled to meet market demands. For this reason, producers and growers are in a better position. All of the aforementioned benefits are predicted to increase business opportunities in the approaching years.
However, a few restrictions associated to aquaponics could prevent the growth of the sector. Most people would classify aquaponics as a labour- and management-intensive discipline. This is due to ongoing research on fish health, water quality, and plant infections.
Aside from this, controlling temperature can be expensive and time-consuming. This is particularly true when operations last all year long and into the winter. Costly system components can be either built or purchased. In the aquaponics system, some fish species can be difficult to grow to market size. Additionally, toxicity problems and delayed harvests might result from the treatment of pests and diseases.
These are just a few of the difficulties that farmers and connected businesses must overcome. It is anticipated that a wide range of opportunities for aquaponics would spur market expansion.
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Top Highlights from the FMI’s Analysis of the Aquaponics Market:
- The United States market is projected to attain a lion’s share over the forecast period. The country has been estimated for a 26.8% market share in 2022.
- In Europe, Germany grabbed a 5.5% market share. Alongside this, the United Kingdom is projected to register a CAGR of 5.1%.
- The intensely growing market for aquaponics is assessed to be India in the forecast period. The country is anticipated to assume a pace of 16% CAGR.
- Based on application, the fish segment is projected to be at the forefront.
- Based on application, fruits, and vegetables are expected to be the top segments in the coming years.
Competitive Landscape of Aquaponics Market: A Closer Look at Market Whereabouts:
Key players in the market are working on promotional activities to capture users at a wider scale and increase their revenue. Manufacturers are also providing and practising quality certifications to raise their market presence. This also creates awareness among people and unfolds substantial opportunities for key companies.
Presently, Nelson & Pade Aquaponics provides a patented Clear Flow Aquaponics System, equipped with ZDEP from Nelson Pade. These are fully-developed comprehensive system packages that are suitable for those planning to produce aquaponics food on a substantial scale.
Key Companies Profiled:
Nelson & Pade Aquaponics, Practical Aquaponics, Aquaponics USA, The Aquaponic Source, Pentair Aquatic Eco-System, Inc.
Key Segments
By Type:
- Media Filled Grow Beds (MFG)
- Nutrient Film Technique (NFT)
- Deep Water Culture (DWC)
- Others
By Component:
- Bio Filter
- Settling Basins
- Fish tanks
- Soil-free plant bed
- Rearing Tanks
- Aquaponics Produce
- Others
By Equipment:
- Pumps and Valves
- Water Heaters
- Fish Purge Systems
- Aeration Systems
- Water Quality Testing
- Others
By Applications:
- Fish
- Herbs
- Fruits
- Vegetables
By End User:
- Commercial
- Home Production
- Research
By Regions:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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