The global aquaponics market is expected to increase dramatically, according to an FMI analysis, from US$ 1,560 million in 2023 to US$ 3,415.5 million by 2033. Compared to traditional crop cultivation, aquaponics—a sustainable farming method that combines hydroponics with aquaculture—offers several benefits, such as substantial water savings and a reduced requirement for artificial fertilisers and pesticides because of efficient resource management.
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.
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Press Release:
The global aquaponics market is poised for substantial growth, projected to surge from US$ 1,560 million in 2023 to an impressive US$ 3,415.5 million by 2033, as indicated by a comprehensive analysis by Future Market Insights (FMI). Embracing aquaponics, a sustainable farming method amalgamating hydroponics with aquaculture, brings forth a myriad of benefits, including significant water savings and a reduced reliance on artificial fertilizers and pesticides due to efficient resource management.
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Key Takeaways:
- Environmental Awareness: Aquaponics systems utilize only 10% of the water required for conventional crop cultivation, reflecting a commitment to environmental conservation. The method drastically reduces the need for pesticides, herbicides, and synthetic fertilizers, aligning with the growing global focus on sustainable practices.
- Consumer Shift towards Sustainability: Rising global warming concerns have led consumers worldwide to become more discerning in their daily choices, favoring sustainable practices. The aquaponics industry, with its eco-friendly approach, resonates with individuals seeking environmentally conscious alternatives.
- Scalability and Market Flexibility: Aquaponics systems offer scalability to meet market demands, providing producers and farmers with a strategic advantage. This flexibility positions the industry for robust growth, leveraging its advantages in the years to come.
Challenges and Opportunities:
While the aquaponics sector presents promising prospects, it does face challenges that could impede its growth. Considered a labor- and management-intensive discipline, ongoing research on fish health, water quality, and plant infections requires constant attention. Controlling temperature, especially in year-long operations, can be expensive and time-consuming. Additionally, some fish species pose challenges in reaching market size, and issues like toxicity and delayed harvests may arise from pest and disease treatments.
Despite these challenges, the aquaponics industry is anticipated to overcome hurdles, with a wide array of opportunities driving market expansion.
Regional Insights:
- United States: The U.S. market is forecasted to dominate, with an estimated 26.8% market share in 2022.
- Europe: Germany secures a 5.5% market share, while the United Kingdom is expected to register a CAGR of 5.1%.
- India: Anticipated to experience significant growth with an estimated 16% CAGR.
Application Highlights:
- Fish Segment: Expected to lead the market in terms of application.
- Fruits and Vegetables: Anticipated to be the top segments in the coming years.
Innovation in Aquaponics:
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Competitive Landscape:
Key players in the aquaponics market are engaging in promotional activities to capture a wider user base and increase revenue. Quality certifications are being implemented to enhance market presence and create awareness.
Presently, Nelson & Pade Aquaponics offers a patented Clear Flow Aquaponics System equipped with ZDEP from Nelson Pade, providing comprehensive system packages suitable for large-scale aquaponics food production.
Key Companies Profiled:
- Nelson & Pade Aquaponics
- Practical Aquaponics
- Aquaponics USA
- The Aquaponic Source
- Pentair Aquatic Eco-System, Inc.
Key Segments:
- Type: Media Filled Grow Beds (MFG), Nutrient Film Technique (NFT), Deep Water Culture (DWC), Others
- Component: Bio Filter, Settling Basins, Fish tanks, Soil-free plant bed, Rearing Tanks, Aquaponics Produce, Others
- Equipment: Pumps and Valves, Water Heaters, Fish Purge Systems, Aeration Systems, Water Quality Testing, Others
- Applications: Fish, Herbs, Fruits, Vegetables
- End User: Commercial, Home Production, Research
- Regions: North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East & Africa
It has a lot going for it, including environmental awareness. Only 10% of the water required for conventional crop cultivation is used in aquaponics systems. The usage of pesticides, herbicides, and synthetic fertilisers can be drastically decreased or perhaps totally eliminated with effective resource management.
Due to the growing global warming, consumers are undoubtedly being more careful when making daily decisions. As a result, people all across the world are getting pickier and more interested in sustainable practises.
The aquaponics systems can be readily scaled to suit market demands if there is enough room. Producers and farmers are in a stronger position as a result. Business prospects are expected to rise as a result of all of the aforementioned advantages in the years to come.
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.
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.
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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
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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