Aquaponics Market Analysis, Opportunity and Forecast 2020 To 2027

Aquaponics is a cooperation between plants and fish and the term originates from the two words aquaculture (the growing of fish in a closed environment) and hydroponics (the growing of plants usually in a soil-less environment). Aquaponics systems come in various sizes from small indoor units to large commercial units. Aquaponics systems come in various sizes from small indoor units to large commercial units. and they can be either freshwater systems or contain salt or brackish water.

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Nutritionally, food grown in an Aquaponics garden is healthier, fresher and genuinely organic. Plants and fish are not contaminated with pesticides or weed killers. Everything used to cultivate vegetable and fruit-producing plants is natural and chemical-free, including fertilizers formulated to improve the overall operation of an Aquaponics system. The COVID-19 pandemic has majorly impacted the supply chain of the aquaponics market. Supply chain disruption amidst COVID-19 has led the farmers to rear a large number of live fishes and other aquatic species. This negatively impacted the cost, expenditure, and risk borne by the farmers. Since aquaponics produce is free from chemical fertilizers and crop protection chemicals, with fish waste serving as the prime nutrients for plants, the demand for organically grown crops holds high potential and an untapped space for emerging Aquaponics farms, as well as Aquaponics system providers.

Some of the most active Aquaponics farms are Superior Fresh, Ouroboros Farms, Garden City Aquaponics Inc., BIGH, Deep Water Farms, and Madhavi Farms, among others, while some of the major Aquaponics input providers are Pentair Aquatic Eco-System Inc. (PAES), Nelson & Pade Aquaponics, Practical Aquaponics, Aquaponics USA, and The Aquaponics Source, among others.

Analyst Commentary

Compared to backyard gardens and commercial farms, water waste is significantly minimized. Since water used for sustaining an aquaponics system is constantly recycled and reused, there is no need to rely on additional water to support plant and fish growth.

The dynamic earth’s energy balance leads to a shift in the global climatic conditions. The current climate conditions produce new stresses on agricultural production and constrain sustainable vegetation production in many areas. As a result, the need for alternative agricultural applications that will be sustainable in the long term such as the Aquaponics Market or aquaponics farming is expanding globally. Moreover, strains on the environment from food production have made declines in biodiversity, soil carbon, and air quality. Issues such as high groundwater salinization from fertilizer/pesticides, soil erosion, and decreased water availability further boosts demand for sustainable agricultural production practices, globally.

Segmentation

Globally Aquaponics Market segmented into produce, components, equipment, application and region. On the basis of produce market is segmented into fish, fruits & vegetables, and others. On the basis of components market is segmented into rearing tank, settling basin, bio-filters, sump tank, and others. On the basis of equipment market is segmented into pumps and valves, grow lights, water heaters, water quality testing, fish purge systems, aeration systems, and others. On the basis of application, the market is segmented into the commercial, home food production, and others. On the basis of region market is segmented into the North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America, Aquaponics farming is expected to witness exponential growth in the coming years. In 2014, the University of Wisconsin – Stevens Point and Nelson and Pade Aquaponics, entered a Public-Private Partnership (PPP), for establishing an Aquaponics Innovation Center, as part of the UW-System Economic Development Incentive Grant.

Regional Analysis

The Global Aquaponics Market is classified into North America, Europe, Asia Pacific, Middle East & Africa and South America. North America holds the largest market share. The rapid growth in population, increasing demand for organic products, improvement in urban farming methods, increasing health awareness among consumers, and technological advancement and innovations in the field of agriculture will boost the market in the North American region. Currently, the United States imports more than 80.0% of the seafood it consumes, annually. The rising aquaponics farms in the country would help the country in reducing its seafood import gradually over a period of time.

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