According to recently published data from Aquaponics Market Analysis, the global demand for aquaponics increased by 8.0% year over year (YoY) in 2032, reaching an estimated value of USD 1.5 billion, and is predicted to expand at an impressive rate of 8.3% to reach USD 3.3 billion by that year.
According to FMI analysis, Nelson & Pade Aquaponics, Practical Aquaponics, Aquaponics USA, The Aquaponic Source, Pentair Aquatic Eco-System, Inc. Are identified as key Aquaponics brands.
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Small-scale farming is expanding to include aquaponics, a crucial breakthrough. Farmers can successfully use aquaponics technology in a business model as a cost-cutting and revenue-generating technique, especially during the hot, humid summer months. Aquaponics is a closed-loop water-circulation system that combines fish aquaculture and vegetable cultivation. This not only saves a lot of water but also boosts crop productivity during periods of extreme drought.
The aquaponics business is expected to develop due to its economic and ecological benefits. Because natural produce is devoid of pesticides and fertilisers, expenditures in aquaponic operations, particularly on a commercially huge scale, are expanding due to increased urban agriculture and growth in the market for organic food.
Furthermore, the increasing population and growing preference for off-seasoning fruits and veggies are increasing the consumption of aquaponics systems to nurture the plant sustainably and organically without using toxic pesticides. Because of the cost advantages of the aquaponic system, the industry will rise in the next years due to rising fish consumption.
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Impact of Covid-19 on Global Aquaponics Market
The Coronavirus pandemic had an impact on every business throughout the globe. The pandemic seems to have had a significant impact on the aquaponic industry, as covid-19 has caused supply chain disruptions in agriculture and allied businesses.
Key Companies Profiled
- Nelson & Pade Aquaponics
- Practical Aquaponics
- Aquaponics USA
- The Aquaponic Source
- Pentair Aquatic Eco-System, Inc.
Market Segments Covered In Aquaponics Market Analysis
By Type :
- Media Filled Growbeds (MFG)
- Nutrient Film Technique (NFT)
- Deep Water Culture (DWC)
- Others
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By Component :
- Bio Filter
- Settling Basins
- Fish tanks
- Soil-free plant bed
- Rearing Tanks
- Aquaponic Produce
- Others
By Equipment :
- Pumps and Valves
- Water Heaters
- Fish Purge Systems
- Aeration Systems
- Water Quality Testing
- Others
By Applications :
- Fish
- Herbs
- Fruits
- Vegetables
About FMI
Future Market Insights (ESOMAR certified 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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