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Aquaponics Market to Grow with a CAGR of 8.60% through 2028 | TechSci Research

02-06-2024 01:03 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: TechSci Research Pvt Ltd

Aquaponics Market to Grow with a CAGR of 8.60% through 2028 |

"Growing popularity of home-based aquaponics systems and high yield compared to conventional farming methods is expected to drive the Global Aquaponics Market growth in the forecast period, 2024-2028."

According to TechSci Research report, "Aquaponics Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028", the Global Aquaponics Market stood at USD 1.43 Billion in 2022 and is anticipated to grow with a CAGR of 8.60% in the forecast period, 2024-2028. The global aquaponics market is propelled by a variety of factors. Growing urbanization and the subsequent demand for organic crops, coupled with the need for eco-friendly farming techniques, have significantly contributed to the market expansion.

Furthermore, the escalating pressure on water resources due to overexploitation and the growing global population's food needs have necessitated efficient agriculture practices like aquaponics. Innovation in farming technology and the reduction in arable land are other key drivers. Lastly, government initiatives and funding to promote sustainable agriculture also play a vital role in the growth of the aquaponics market.

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The Global Aquaponics Market refers to the worldwide industry of aquaponics systems, a sustainable farming solution that combines hydroponics and aquaculture. This innovative method of agriculture allows for the simultaneous cultivation of plants and aquatic animals in a mutually beneficial and symbiotic environment. Aquaponics systems utilize nutrient-rich water from fish tanks to nourish and irrigate the plants, while the plants naturally filter the water, creating a closed-loop and highly efficient ecosystem.

Globally, the aquaponics market is experiencing significant growth, driven by the increasing demand for organic produce and the growing awareness of environmental sustainability. Consumers are seeking healthier and more sustainable food options, and aquaponics provides a compelling solution by eliminating the need for chemical fertilizers and minimizing water usage. Moreover, the ability to cultivate both fish and crops in the same system optimizes resource utilization and offers a scalable and space-efficient farming method.

The sector comprises a diverse range of players, including equipment manufacturers, fish and crop producers, and service providers. These stakeholders are actively involved in the development and application of aquaponics concepts worldwide, continually improving system designs, optimizing production techniques, and expanding the range of crops and species that can be cultivated.

As the global population continues to grow and the pressure on traditional agricultural practices intensifies, aquaponics emerges as a promising alternative that offers sustainable food production, reduced environmental impact, and increased food security. The Global Aquaponics Market is poised for further expansion as more farmers, entrepreneurs, and communities recognize the immense potential of this innovative and resource-efficient farming technique. In addition to the environmental benefits, aquaponics also presents economic advantages.

The versatility and scalability of aquaponics systems make them suitable for various contexts, from small-scale urban farms to large commercial operations. By utilizing unused spaces such as rooftops or abandoned buildings, aquaponics can transform underutilized areas into productive and profitable agricultural ventures. This opens up opportunities for entrepreneurship, job creation, and community development. Furthermore, aquaponics enables year-round cultivation regardless of climate or geographical location. By controlling the indoor environment, growers can overcome seasonal limitations and produce a consistent supply of fresh, locally grown food. This not only reduces dependence on imported produce but also strengthens food sovereignty and resilience against external disruptions.

In terms of social impact, aquaponics has the potential to empower communities and promote food self-sufficiency. By providing access to fresh and nutritious food, especially in underserved areas or food deserts, aquaponics can address issues of food insecurity and improve public health. Additionally, aquaponics can serve as an educational tool, teaching people about sustainable farming practices, ecological principles, and the importance of a healthy and balanced diet.

The Global Aquaponics Market represents a transformative approach to agriculture that integrates hydroponics and aquaculture in a closed-loop system. With its numerous environmental, economic, and social benefits, aquaponics offers a sustainable and efficient solution to meet the growing global demand for food. As awareness and adoption of this innovative farming technique continue to spread, the potential for positive impact on food security, environmental stewardship, and community well-being is tremendous.

The Global Aquaponics Market is segmented into equipment, method, application, regional distribution, and company.

Based on method, in the realm of aquaponics, the Nutrient Film Technique (NFT) has emerged as the most dominant method. Renowned for its high productivity levels and efficient utilization of space and water, NFT systems have become the top choice for commercial aquaponics farmers. The technique allows for effective control over the nutrient solution, ensuring optimal nourishment for plants and ultimately leading to better crop yield. Close on the heels of NFT is deep-water culture, which is steadily gaining prominence in the aquaponics community. This method is valued for its simplicity and cost-effectiveness, making it an attractive option for both small-scale and large-scale operations. By immersing the plant roots in a nutrient-rich solution, deep-water culture provides a highly conducive environment for plant growth and development.

In contrast, media-based methods, although effective, have yet to achieve widespread adoption in commercial aquaponics. These methods utilize various growing media, such as gravel or peat moss, to support plant growth. While they offer certain advantages, such as increased stability and root support, the higher setup and maintenance costs associated with media-based systems have hindered their prevalence in the industry. Overall, the aquaponics landscape is shaped by a variety of techniques, each with its unique benefits and considerations. As the industry continues to evolve, farmers and enthusiasts alike are constantly exploring and refining these methods to maximize productivity and sustainability.

Based on region, North America is emerging as a dominant force in the Global Aquaponics Market, propelled by a unique blend of factors. The region showcases a remarkable adoption rate of advanced farming technologies and sustainable agricultural practices, which serve as the very foundation of aquaponics. Moreover, the presence of industry-leading market players and the unwavering support of government initiatives play a pivotal role in driving the market's growth trajectory. Notably, the mounting awareness and surging demand for organic food products further bolster the industry's progress in North America, as aquaponics presents a chemical-free and environmentally friendly approach to food production. With its unparalleled commitment to innovation and sustainability, North America continues to shape the future of aquaponics on a global scale.

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Major companies operating in Global Aquaponics Market are:

• Nelson and Pade Inc.
• Pentair Aquatic Eco-Systems, Inc.
• ECF Farm systems GmbH
• Backyard Aquaponics Pty Ltd.
• AquaCal AutoPilot, Inc.
• GrowUp Urban Farms Ltd.
• The aquaponic manufaktur GmbH
• NutraPonics Canada Corporation
• Aponic Ltd.
• Blueplanet Urban Agro Services Pvt Ltd.

"The future of the global aquaponics market looks promising due to several factors. Increasing urbanization and a growing need for sustainable food production methods are driving a surge in interest in aquaponics, a system that combines aquaculture and hydroponics. With rising environmental awareness, the low environmental impact of aquaponics makes it an attractive solution for efficient food production. Furthermore, technological advancements and innovations are set to improve the operation and profitability of aquaponics farms, further fueling market growth. Despite some challenges, such as high initial setup costs and the need for skilled labor, the global aquaponics market is projected to experience substantial growth over the next decade.," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

"Aquaponics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Equipment (Pumps & Valves, Grow Lights, Water Heaters, Water Quality Testing, Fish Purge Systems and Aeration System), By Method (Media Based, Nutrient Film Technique [NFT] and Deep-Water Culture), By Application (Commercial, Home food Method ion, Education & Research and Others), By Region and Competition", has evaluated the future growth potential of Global Aquaponics Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Aquaponics Market.

Download Free Sample Report
https://www.techsciresearch.com/sample-report.aspx?cid=4281

"Customers can also request for 10% free customization on this report."

Table of Contents

1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations

2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validations
2.7. Assumptions and Limitations

3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Aquaponics Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Equipment (Pumps & Valves, Grow Lights, Water Heaters, Water Quality Testing, Fish Purge Systems and Aeration System)
5.2.2. By Method (Media Based, Nutrient Film Technique [NFT] and Deep-Water Culture)
5.2.3. By Application (Commercial, Home food Method ion, Education & Research and Others)
5.2.4. By Region
5.2.5. By Company (2022)
5.3. Market Map …..Continue….

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TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research's core values are value, integrity, and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci's client leads rather than follow market trends. Not bound by legacy, TechSci's cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.

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