Global Aquaponics Market Overview:
Association of organic commodities consumption with wellness is taking the consumer products arcade towards epidemic innovations. As per the U.S Department of Agriculture, organic food sales have increased by 20% annually, and has surpassed the $10 billion mark in 2003, up from merely $3 billion in 1997. Owing to such trends, the global aquaponics market size is valued at $580 million - $630 million as of 2018, as per the findings of this business intelligence report. The report forecasts the demand to grow at CAGR of 14.5% -15.5% going through to 2025. Aquaponics basically combines orthodox aquaculture with hydroponics (cultivating plants in water) in a symbiotic environment. In this organic setting excretions from the aquatic-animals (snails, fish, crayfish or prawns) are procured by hydroponic system which acts like a settling basin, the by-products breaks down as nitrites and nitrates and are utilized by the plants as nutrients. The whole process in return filters the water for aquaculture, hence it is beneficial for plants and organisms in the process as well.
Global Aquaponics Market Outlook:
As per an acute analysis of the aquaponics market regional aspects, growing uptake has propelled the North America region to hold a major 42.0%- 45.0% of the global aquaponics market size under its own territory as of 2018. Aquaponics requires minimal aquatic space for farming herbs, fruits, vegetables, which contributes highly towards market growth. Since the produce is free of pesticides and herbicides, fruits and vegetables produce type leads the segment and is progressing with a CAGR of 14.5% - 15.5% during the forecast period of 2019 to 2025.
Global Aquaponics Market Growth Drivers:
Aquaponics utilizes least aquatic space for husbandry of vegetables, which contributes highly towards its market traffic. This is an imperative facet for aquaponics salability as arable lands are shrinking owing to rapid urbanization and industrialization. According to Nelson and Pade, a USA based company, aquaponics produces eight times more food per acre in 1/6th of the space required by traditional agriculture. Such economic and ecological aspects are forecast to stroke the market with abundant demand.
Organic produce acquired from aquaponics culture is free from any pesticides or fertilizers. The World Bank’s Fertilizer Price Index observed a rise of 9% in 2018 and is expected to rise 2% in 2019. Fish waste acts as natural fertilizers for the vegetables that grow inside the water solvent thus curbing fertilizers expense. This whole process refrains from the employment of any expensive farm equipment, agricultural machinery and fertilizers. These characteristics make aquaponics market highly profitable owing to the economic efficiency and environment sustainability that it offers.
Global Aquaponics Market Challenges:
Sustainable Agricultural practices like hydroponics, vertical farming, and organic arable farming are witnessing growth from the past few years with the increased adoption of sustainable practices. This could be a challenge that could hinder the growth of the Aquaponics market. But tracing the investments (The World Bank Group is a leading financier of agriculture, with US$ 6.8 billion in new IBRD/IDA commitments in 2018) made globally into agricultural domains to feed billion of individuals, this ecological and organic arcade displays all the operational caliber to divert a huge chunk of investments into its revenue pockets defeating its competitors.
Global Aquaponics Market Players Perspective:
Some of the top market players profiled in the IndustryARC’s global aquaponics market report 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.
Nelson and Pade, one of most trusted entity and pioneer in the field of aquanomics, provides aquaponic systems, aquaponic systems part, water quality kits and monitoring systems. Apart from a range of products it also offers classes, seminars and aquaponics greenhouse tours. Such educational practices acts as a free marketing tool for the aquaponics market and divert potential traffic towards being market participants.
Global Aquaponics Market Trends:
The Aquaponics Source concentrates in the development of aquaponics culture. They farm floras, and faunas in a ‘recirculating ecosystem’ that promotes perpetual aquatic symbiosis with maximum profits and returns. In 2016, the company relocated from Longmont to Boulder in Colorado to exploit its production and distribution operational facilities. 98% of their revenue generates from E-commerce websites, implying the aquaponics market to be directly proportional to the blooming urban population. The Company has made a name for itself in the aquaponics market by also offering education in the similar domain to the general public. One of their most popular school systems is the 60 Gallon Mobile Aquaponics System which has settings to display on wheels for mobility, making public demonstrations easier.
Aquaponics Market Research Scope
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the aquaponics market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of equipment in the Aquaponics Market, and their specific applications in different phases of industrial operations.
Aquaponics Market Report: Industry Coverage
Types of Solutions Aquaponics Market:
By Cultivation- Fishes, Herbs, Fruits and Vegetables Plants.
By Applications- Commercial, Community, Home production, Research centers, Agriculture & Farming
The aquaponics market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia