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Aquaponics Market Overview
Aquaponics is an integration of hydroponics and aquaculture, which involves conversion of the fish waste into plant fertilizers, water filtration, and supply of clean water to the fish tank. Aquaponic systems offer several environmental benefits, such as significantly less water consumption than soil-based agriculture, no requirement for harmful pesticides and fertilizers, along with the provision of fodder for animals.
In addition, plants grow twice as fast in an aquaponic system owing to the naturally fortified water from the fish tank. The system does not require a farmland with fertile soil, or any land for cultivating the yields, and can be done on sand, gravel, or rocky surfaces. Moreover, the agricultural yield produced is organic and healthier since there has been no usage of any chemical fertilizer or pesticides.
Aquaponics is suitable for remote locations with poor farming conditions, or areas with cold climates where vegetables are mostly imported at high costs due to climatic conditions. The setup of this system provides food security at such locations with round the year food production.
On the basis of system, the global aquaponics market has been categorized into media-filled beds, nutrient film technique, deep-water culture, and others. The media-filled beds category accounted for a significant share in the market in 2019. Media-filled beds have a simple form, owing to which they are highly preferred over other systems. In addition, the system allows plant roots to be periodically exposed to air, which prevents waterlogging.
Geographically, the aquaponics market has been categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East and Africa (MEA). The market in North America is expected to account for a significant share throughout the forecast period (2020–2030), owing to the increasing focus toward sustainable farming systems and strong government support for the aquaculture society.
Aquaponics Market Dynamics
With the depleting freshwater and phosphorous reserves, along with the rising need for sustainable food production, the aquaponics market growth has garnered pace over the years. In addition, the increasing environmental concerns have created a shift toward the adoption of aquaponic systems. This can be ascribed to the usage of no artificial nutrients, pesticides, and insecticides on plants, along with a less requirement for water, thereby offering numerous environmental benefits. Moreover, aquaponics uses nearly 90% less water than traditional farming since water and nutrients are recycled in a closed-loop fashion which helps in a high-volume water conservation.
The increasing focus on the adoption of sustainable agricultural systems, along with the rise in concerns owing to the limited water resources, makes developing nations, such as China, Indonesia, India, and Thailand, high-potential markets in the coming years. In addition, with the increasing demand for organic yield, the aquaponics market is predicted to offer immense growth opportunities during the forecast period.
Aquaponics Market Competitive Landscape
Some of the players in the global aquaponics market are Aquaponic Solutions, Aquaponics USA, Backyard Aquaponics Pty. Ltd., Green Life Aquaponics, and Pentair Aquatic Eco-Systems Inc.
The report will also provide a country-wise analysis. Some of the major countries that are covered in the report are the U.S., Canada, France, Germany, the U.K., Italy, China, Japan, India, South Korea, Brazil, Argentina, Saudi Arabia, and South Africa.
Segmentation of the Global Aquaponics Market
The report offers the size of the global aquaponics market for the period 2014–2030.
Market Segmentation by System
Market Segmentation by Plant
Market Segmentation by Fish
Market Segmentation by Geography