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Population Reference Bureau stated that the global population is expected to reach around 9.8 billion in 2050, an increase of 31% from 7.5 billion in 2017. As the world’s population grows, demand for food increases subsequently. As a result, demand for various modern production techniques including aquaponics farming is increasing across the globe in order to meet growing food demand. As compared with the traditional farming, aquaponics posses’ various advantages such as low water consumption (almost 90% less), accelerated plant growth rates, and feasibility of producing multiple crops simultaneously. Moreover, growing urbanization and industrialization is causing shortage of healthy or productive (fertile) soil in urban areas. Thus, with the limitations of healthy soils in urban areas, aquaponics is a fast-growing alternative to cultivate and provide fresh as well as nutritional food in cities. Moreover, in aquaponics system, the constant recycling and reuse of water reduce the water wastage; thus, it is more sustainable and economical way of agricultural production in the water scarcity or drought areas. Meticulous Research® in its latest publication on Aquaponics Market states that global aquaponics market is expected to grow at a CAGR of 12.8% from 2019 to reach $1.4 billion by 2025.To provide efficient analysis, Meticulous Research® has segmented this market on the basis of equipment (grow lights, pumps and valves, fish purge systems, in-line water heaters, aeration system, and other equipment), product type (fish, vegetables, herbs, and fruits), application (commercial, home production, and other applications). The study also evaluates industry competitors and analyzes the market at regional and country level.
Based on equipment, the global aquaponics market is segmented into grow lights, pumps and valves, fish purge systems, in-line water heaters, aeration system, and other equipment. Grow lights segment accounted for the largest share of the overall aquaponics farming market in 2018. The large share of this segment is mainly attributed to its growing adoption in the indoor farming practices as it is an essential part and mainly required for plant photosynthesis in the indoor farming.
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On the basis of product type, the global aquaponics farming market is mainly segmented into fish, vegetables, herbs, and fruits. Fish commanded the largest share of the overall aquaponics farming market in 2018. The large share of this segment is mainly driven by the factors such as growing global population and increasing fish demand for human consumption. Moreover, the factors such as high nutritional profile of the fish and changing lifestyle are further supporting the growth of this market.
On the basis of application, the global aquaponics market is mainly segmented into commercial, home production, and other applications. Commercial application accounted for the largest share of the overall market in 2018, due to rising demand for organic food products in the local market and need to reduce production cost with the increase in profitability of farming.
Geographic Review
Geographically, the overall aquaponics farming market is mainly segmented into North America (U.S., Canada, and Mexico), Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and RoAPAC), Latin America (Brazil, Argentina, and RoLATAM), and Middle East & Africa. North America commanded the largest share of the global aquaponics market in 2018, followed by Europe and Asia Pacific. However, Asia Pacific region is slated to grow at the highest CAGR during the forecast period. The growth of this market is expected to be driven by the several factors such as rapid growth in the population, vast demand for organic food products, and increasing disposable income. Apart from this, the factors such as growth in urbanization, improvement in urban farming methods, and rising innovations in the field of agriculture are further supporting the growth of the aquaponics farming market.
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Key Players:
The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players operating in this market including Pentair Aquatic Eco-System (U.S.), Nelson and Pade, Inc. (U.S.), Aquaponics USA (U.S.), Green Life Aquaponics (U.S.), The Aquaponics Source (U.S.), Endless Food Systems (U.S.), Japan Aquaponics (Japan), Stuppy, Inc. (U.S.), Symbiotic Aquaponic LLC (U.S.), Practical Aquaponics (Australia), SynergyPonics (South Africa), The Aquaponics Place LLC (U.S.), and AquaCal AutoPilot, Inc (U.S.), among others.
Key Topics Covered in This Report:
1. Introduction
1.1. Market Ecosystem
1.2. Currency and Limitations
1.2.1. Currency
1.2.2. Limitations
1.3. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.1.1. Secondary Research
2.1.2. Primary Research
2.1.3. Market Size Estimation
3. Executive Summary
3.1. Introduction
3.2. Product Analysis
3.3. Regional Analysis
3.4. Key Players
4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Improvement in Urban Farming Methods
4.2.2. Growing Fish Consumption
4.2.3. Rising Demand for Organic Fruits and Vegetables
4.2.4. Growing Reduction in Arable Land Areas
4.2.5. Changing Climate Conditions
4.3. Restraints
4.3.1. High Initial Start-Up Cost
4.3.2. Critical Management Requirement
4.4. Opportunities
4.4.1. Growing Use of Aquaponic Systems in Offices and Restaurants
4.4.2. Reducing Water Use and Discharge to the Environment
5. Global Aquaponics Market, by Equipment
5.1. Introduction
5.2. Grow Lights
5.3. Pumps and Valves
5.4. Fish Purge Systems
5.5. In-Line Water Heaters
5.6. Aeration System
5.7. Others
6. Global Aquaponics Market, by Product Type
6.1. Introduction
6.2. Fish
6.3. Vegetables
6.4. Herbs
6.5. Fruit
7. Global Aquaponics Market, by Application
7.1. Introduction
7.2. Commercial
7.3. Home Production
7.4. Others
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