The Aquaponics Market is estimated to hit $1.19 Billion by 2023
By Component (Rearing Tanks, Biofilter, Hydroponics, Others); By Type (Fish, Vegetables & Fruits, Herbs, Others); By Equipment (Grow Lights, Water heaters, Aeration Systems, Others); By End-User (Commercial, Home, Community); By Geography - (2018-2023)”, the market is driven with the increasing funds from the Food and Agriculture Organization along with the environment organization.
Aquaponics Market (2018 - 2023)”
North America continues to lead the market share during 2018-2023.
North Americas region is the dominant regions for aquaponics market for year 2017 and is anticipated to remain dominated throughout the forecast period. Due to increase in preference of organic produce especially in the North America, the market is estimated to witness significant growth during the forecast period. Also, it is the most promising region for aquaponics market owing to the increasing awareness over the profitability from this system along with the sustainable production of plants and fish. The market for fish purge system is growing in North America and APAC region owing to the rising demand from the commercial firms. These fishes are stored in the purge system to keep them fresh. Therefore, these are directly supplied to the restaurants.
On the other side, Asia-Pacific region is estimated to grow high during the forecast period and is projected to reach US $251.66 Million at a CAGR of 15.7%, owing to decrease in cultivation land coupled with increase in urbanization. APAC is one of the major house of aquaponics ranging from domestic or small scale to commercial scales. The variety of fish grown by aquaponics in APAC includes Touts, Tilapia, Pangasius, Catfish, Goldfish and so on.
Selected / Sample Analysis done in the full Report:
Value chain analysis is a useful tool to analyze the activities that include design, production, marketing and distribution of a particular product. The majors steps involved in contributing to the total value of the aquaponics market are:
- Raw Material Manufacturers: Value chain of aquaponics initially starts from procuring raw material that include consumables like feed for fish and seeds for plants, from various suppliers to set up the initial aquaponics system. These materials and their processing charges adds value to the end product.
- Once the base materials are in line, the input materials like electricity water are required to set up the aquaponics system. Equipment like tanks, sump, water pump, biofilter, grow lights, fish purge systems, aeration systems form an essential part of the total system and adds immense value to the total ecosystem.
- The best part of the integration of aquacultures and Hydroponics is the usage of fish and bacteria together to produce plant products. In the filters, the fish wastes is separated from the water, first using a motorized filter that removes the solid waste and then through a biofilter that routes out the dissolved wastes. The biofilter provides a location for bacteria to convert ammonia, which is toxic for fish, into nitrate, a more accessible nutrient for plants.
- This process allows the aquaponics fish, aquaponics plants, and aquaponics bacteria to thrive symbiotically and to work together to create a healthy growing environment for each other, provided that the system is properly balanced. This step contributes a major chunk to the value of the product.
Excerpts on Market Growth Factors Mentioned in the Full Report:
- Research and education segment is acting like a key driver and escalating the aquaponics market growth. The increasing awareness among people to cultivate plants and fish together will spur the aquaponics market.
- Bio-integrated food production system, urban friendly technology, sustainable farming are the key drivers that are driving significant growth for the aquaponics market.
- The increasing awareness and benefits of growing soilless foods across the globe will drive the aquaponics market. The increase in number of aquaponic practitioner across the globe will also spur the aquaponics market.
- China houses major commercial aquaponics in the world and is witnessing significant growth in adoption as well. This is poised to drive the market in upcoming future.
Key Players of the Aquaponics Market Market:
Key players for the Aquaponics Market comprise of Nelson and Pade Inc. (U.S), Aquaponic Lynx LLC (U.S.), ECF Farmsystems GmbH (Geremany), Aqua Allotments (U.K) and others.
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