Aquaponics Market: Demand and Growth Analysis
As per the findings of newly published market research report by IndustryARC titled “
Aquaponics Market: By Aquaponics Method; By Components; By Cultivation; By Equipment; By Application; By Geography – Forecast (2019-2025)
,” there were opportunities worth $580 to $630 million available in 2018, and the analyst estimates the demand to grow with an outstanding CAGR of 14.5% to 15.5% during the forecast period of 2019 to 2025. The aquaculture market is at the helm of continuously providing supply of fish for human consumption.
In this era, the demand for consumer food is incessantly increasing, and the farmers are cultivating more organically. However, aquaponics systems are majorly operated water-free and have no effects on the soil. The newer generation is more dedicated to having organic food that has more nutritious value and is free from chemical contamination. According to the Research Institute of Organic Agriculture, in 2018, the organic agricultural land had grown to 57.8 million hectares which translates to $90 billion. As per the Food and Agriculture Organization of the United Nations, the State of World Fisheries and Aquaculture 2018 had stated that the global total fisheries capture was 90.9 million tonnes in 2016. There has been growth in the fish consumption and aquaculture sector which has led to the aquaponics market growth.
Browse 90 Market Tables, 179 Figures spread through 174 slides and an in-depth TOC “
Aquaponics Market (2019 - 2025)”
Aquaponics Market: Leading segment
Eventually, North America is has seen a rapid growth in exporting fish and fish products in the recent years. North America is amongst the largest single market for fish and fish products. However, the continuous increase in the stocks that are fished biologically and organic fruits and vegetables cultivated in North America has the regional market share of 42.0%- 45.0% in the global aquaponics market. The fruit and vegetable application CAGR in the vegetable and fruits segment of the aquaponics market will be 14.5% to 15.5% during the forecast period of 2019 to 2025. Considering the food safety and consumer protection, increasingly inflexible hygiene measures are taken at the national and international levels.
Aquaponics Market: Market Trends
- According to the United Nations Educational, Scientific and Cultural Organization, 3.6 billion people are living in potential water scare area at least one month per year, and the figure could increase to 4.8 to 5.7 billion in 2050. Unusual high temperature and lack of rainfall has certainly affected the farming process and has increased the risk. In the process of aquaponics, the amount of water needed is much lesser than the crops that are grown underground. Also, it reduces the harvesting time to nearly half of the time consumed in harvesting normal crops. This is a major aspect responsible for the growth of aquaponics market.
- As arable lands are consistently reducing the usage of deep water culture strategy has very well replaced the concept of harvesting. And providing fresh fish free from all the medicines and antibiotics that they are usually given.
- Since the farming is purely aquatic based, the fruits and vegetables are fertilizers and pesticides free as they grow under water, and so, they can be termed as organic. In aquaponics there is no concept of soil and soil pests, which helps in the higher adoption of aquaponics techniques that has certainly increased the investment in urban farming.
Aquaponics Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the global aquaponics market are The Aquaponic Source, Nutraponics Canada Corporation, Nelson and Pade, Inc., My Aquaponics, Greenlife Aquaponics, ECF Farmsystems GMBH, Aquaponic Lynx LLC, Aqua Allotments and Backyard Aquaponics.
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