Aquaponics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Aquaponics is a combination of hydroponics and orthodox aquaculture in a symbiotic environment. In this setting, the excretions from the aquatic-animals like prawns, crayfish, fish, and snails are acquired using a hydronic system which acts like a settling basin. These by-products then break down as nitrites and nitrates. They are further utilized by the plants as nutrients, thus, filtering the water for aquaculture making it a beneficial process for both the plants as well as the organisms. The growing consumer preference towards organic commodities consumption owing to the rise of health conscious consumers is also profiting the global aquaponics market.
The global aquaponics market features a fragmented landscape owing to the strong presence of several key players in the market. These leading companies in the global market are constantly focusing on enhancing the efficiency of products by offering classes, seminars, and aquaponics green house tours. These educational practices are working in favor of the development of the global market and are also being utilized as a free marketing tool. The existing market players are deploying various strategies and advanced techniques to divert potential traffic towards being market participants.
Some of the leading companies in the global aquaponics market include names such as Backyard Aquaponics, Aqua Allotments, Aquaponic Lynx LLC, ECF Farmsystems GMBH, Greenlife Aquaponics, My Aquaponics, Nelson and Pade, Inc, The Aquaponic Source, and Nutraponics Canada Corporation among others.
The shrinking of arable lands owing to rapid urbanization and industrialization is increasing the salability for aquaponics as it requires least aquatic space for husbandry of vegetables. As a result aquaponics is gaining popularity, which is fueling the advancement of the global aquaponics market. The fish waste acts as natural fertilizer for the vegetables that grow inside the water solvent. As a result, the organic produce acquired is free from any pesticides or fertilizers and even curbs the expenses for fertilizers. According to a USA based company known as Nelson and Pade, aquaponics produces eight times more food per acre in 1/6th of the space required by traditional agriculture. The lack of agricultural machinery, expensive equipment, and fertilizers for the whole process of aquaponics offer environment sustainability as well as economic efficiency. These characteristics are boosting the progress of the global aquaponics market.
The global aquaponics market has five main regions that provide the reader with the intricate details of the working dynamics of the regional landscape. These regions are North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Of these, currently, the global aquaponics market is being dominated by the regional segment of North America. The growing uptake in the region is significantly contributing to the growth of the global aquaponics market. Factors such as the minimal aquatic space required for farming vegetables, herbs, fruits, and the produce being free of pesticides as well as herbicides, is propelling the further progress of the global aquaponics market.
Market Segmentation is as follows:
By Cultivation (2016-2026; US$ Mn)
By Applications (2016-2026; US$ Mn)
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