The global aquaponics market is projected to rise sharply from US$ 1,560 million in 2023 to US$ 3,415.5 million by 2033, per an FMI research. Aquaponics is a sustainable farming technology that combines hydroponics and aquaculture. It has various advantages over traditional crop cultivation, including significant water savings and less need for artificial fertilisers and pesticides due to efficient resource management.
Based on FMI’s assessment, the global aquaponics market is projected to expand from US$ 1,560 million in 2023 to US$ 3,415.5 million by 2033. It is anticipated that the aquaponics industry would grow significantly throughout the assessment period. Proponents of aquaponics farming frequently cite a long number of advantages associated with this farming technique.
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It has many advantages, one of which being environmental consciousness. Aquaponics systems use only 10% of the water needed for traditional crop growing. With efficient resource management, the use of synthetic fertilisers, herbicides, and pesticides can be significantly reduced or even completely eliminated.
Consumers are definitely becoming more cautious while making daily selections as a result of the increasing effects of global warming. People are becoming pickier and more interested in sustainable practices as a result, all around the world.
If there is sufficient space, aquaponics systems can easily be scaled to meet market demands. This puts farmers and producers in a better position. All of the aforementioned benefits should lead to an increase in business prospects 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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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
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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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