The Global Aquaponics Market size is expected to reach $2.3 billion by 2030, rising at a market growth of 13.7% CAGR during the forecast period.
Research & Education segment is one of the leading applications of Aquaponics and accounted for $228.7 million share in the market in 2022. The fish wastes are the main source of nutrients for plants because aquaponics is free from crop protection chemicals and chemical fertilizers, therefore the organically grown crops offers significant potential and an untapped market for new aquaponic farms and aquaponic system providers. The United States has emerged as one of the major exporters of produce farmed organically.
Furthermore, Spain accounts for the largest portion in terms of area for organic farming, making Europe home to one of the largest organic agriculture areas in the world. The European-funded COST Action FA1305, "The European Union Aquaponics Hub-Realizing Sustainable Integrated Fish and Vegetable Production for the EU," strengthened the network between academics and business representatives as a result of the inherent potential for aquaponic farming in the organic produce sector. Some of the factors impacting the market are technology integration, aquaponics' economic sustainability and its set Up Cost.
When producing organic foods, large tanks are employed since they are extremely productive and effective. Their roots extend into the water and are placed in clay or gravel-filled beds. After the water is pumped to the plant beds, wherein it is naturally digested by the plants & may subsequently be returned to the fish tanks, it is cycled through the system to gather any leftover fish waste. This increased integration of technology is estimated to support the growth of the market. Aquaponics is simple to set up and does not require professional guidance. Additionally, once set up, the system provides high financial support. Contrary to hydroponic farming, where the soil is supplemented with the necessary nutrients from fish waste, farmers using hydroponic farming is not needed to spend money on fertilizers and other chemicals that increase soil fertility. This is anticipated to fuel the expansion of the market during the projection period.
However, getting started with aquaponics can be one of its biggest drawbacks. The price of setting up the first aquaponics system can be fairly high. One might require tanks, growing media, fish, plants, fish food, net pots for the plants, netting to keep insects and other pests away, or, if they want to go all out, a greenhouse. The cost of such purchases can rise quickly, especially if plans are to operate several larger tanks. The set-up cost could be an obstacle that prevents the market from expanding.
Based on equipment, the market is segmented into pumps & valves, grow light, aeration systems, water heaters, and others. The grow light segment acquired a significant revenue share in the market in 2022. Proper lighting conditions are essential for the healthy growth of various plants and fish. Others need regular exposure to light for ordinary growth, while certain species flourish in dark environments. These systems can make use of LED grow lights, induction, HID, and fluorescent grow lights. Grow lights help to promote year-round plant production as well as improved crop development and output.
On the basis of component, the market is fragmented into rearing tank, settling basin, bio filters, sump tank, and others. In 2022, the rearing tank segment witnessed the largest revenue share in the market. In these systems, various rearing tank types can be used. For units that are house based, even a tiny aquarium can be employed. Different types of rearing tanks or fish tanks include plastic tanks, glass tanks, Rubbermaid stock tanks, and intermediate bulk container totes.
By facility type, the market is categorized into greenhouse, building based indoor farms, and others. In 2022, the greenhouse segment registered the maximum revenue share in the market. These systems work well in passive solar greenhouses. A greenhouse facility may support all growing methods, like vertical aquaponics, nutrient film technology, deep water culture, and media-filled grow beds. Sump tanks are buried in greenhouses and positioned below grow beds; thus, the arrangement of the rearing and sump tanks varies.
Based on growing mechanism, the market is classified into deep water culture (DWC), nutrient film technique (NFT), media filled grow beds, and vertical aquaponics. The vertical aquaponics segment projected a promising growth rate in the market in 2022. In vertical aquaponics, the grow beds are layered on top of one another above the rearing tank. Strawberries or leafy greens can be grown vertically because they don't need as much support. Urban facilities are adopting vertical aquaponics more frequently since it is a system that uses little space. Due to its space-efficient design and affordable labor, the segment is anticipated to have substantial expansion during the projection period.
By produce, the market is bifurcated into fish, fruits & vegetables, and others. The fruits & vegetables segment acquired a remarkable growth rate in the market 2022. Among the plants that are frequently and successfully grown in aquaponics systems are tomatoes, herbs, lettuce, spinach, kale, watercress, peppers, squash, greens, leafy peppers, zucchini, cucumber, and eggplant. In addition, these facilities can be used to grow various fruits and plants, including pineapple, blueberries, strawberries, tangerines, and herbs like parsley, basil, and chive.
On the basis of application, the market is divided into commercial, home production, and research & education. In 2022, the commercial segment held the highest revenue share in the market. Aquaculture is an increasingly common technique employed by commercial producers to produce a variety of fish and crops. Aquaculture is becoming more popular among commercial farmers owing to the dual output of fish & plants it produces. In addition, aquaculture allows for the rearing of many different fish species, including catfish, tilapia, trout, bass, carp, koi, fingerlings, and several ornamental fish species.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 845.8 Million |
| Market size forecast in 2030 | USD 2.3 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 13.7% from 2023 to 2030 |
| Number of Pages | 341 |
| Number of Table | 670 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Facility Type, Equipment, Component, Produce, Application, Growing Mechanism, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the market is analysed across North America, Europe, Asia Pacific and LAMEA. In 2022, the North America region led the market by generating the largest revenue share. The region's rise can be ascribed to several important players and North America's widespread use of agriculture in controlled environments. Implementing these systems is also aided by growing consumer demand for organic food and an increased understanding of sustainable and alternative farming methods. The U.S. government has established several indoor farming programs to support regional food systems, encourage sustainable agriculture, and lessen agriculture's impact on the environment.
Free Valuable Insights: Global Aquaponics Market size to reach USD 2.3 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nelson and Pade, Inc., The Aquaponic Source, Inc., Practical Aquaponics (Pty)Ltd., Green Life Aquaponics, Backyard Aquaponics Pty Ltd, Aquaponic Lynx LLC, Portable Farms Aquaponics Systems, Stuppy Greenhouse, Inc., Aquaponik manufactory GmbH and Aponic Ltd.
By Facility Type
By Equipment
By Component
By Produce
By Application
By Growing Mechanism
By Geography
The Market size is projected to reach USD 2.3 billion by 2030.
Aquaponics' economic sustainability is a contributor to the growing popularity of it are driving the Market in coming years, however, Set Up Cost is main obstacle restraints the growth of the Market.
Nelson and Pade, Inc., The Aquaponic Source, Inc., Practical Aquaponics (Pty)Ltd., Green Life Aquaponics, Backyard Aquaponics Pty Ltd, Aquaponic Lynx LLC, Portable Farms Aquaponics Systems, Stuppy Greenhouse, Inc., Aquaponik manufactory GmbH and Aponic Ltd.
The Pumps & Valves segment acquired maximum revenue share in the Global Aquaponics Market by Equipment in 2022 thereby, achieving a market value of $695.7 million by 2030.
The Media Filled Grow Beds segment is leading the Global Aquaponics Market by Growing Mechanism in 2022 thereby, achieving a market value of $873.6 million by 2030.
The North America market dominated the Global Aquaponics Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $801.6 million by 2030.
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