Aquaponics is a procedure of cultivating fish and plants together. This aquaponics is one of the practical type of horticulture that helps in coordinating both hydroponics and regular aquaculture provoking the growth of plants and fishes together in a harmonious situation. Aquaponics is an efficient and technologically advanced and effective way for the production of natural food products. Fishes are cultivated in big tanks, and the plants are developed hydroponically. They are implanted in the beds with the help of little clay or gravel and their roots swing down into the water.
Increasing penetrating competition at the retail level for acquiring more customer and increasing practices for enhancing the customer experience and analyses buying behavior are the factors that are helping the market to grow. Demand for aquaponics is increasing due to rising demand for organic food among many individual’s products and increasing consumer’s inclination towards a vegan diet.
Now a days vegetables are being produced in huge amounts through aquaponics system is also one of the factors that help in booming the growth of target market. High electricity consumption and high initial setup cost are the factors restraining the growth of the target market.
Mainly four types of aquaponics are available in the market currently, including media filled grow beds (MFG), nutrient film technique (NFT), deep water culture (DWC), and others. Demand for media filled grow beds is high as this media filled beds are one of the simplest forms of aquaponics and is one of the cheapest types of aquaponics.
$614.0 Mn
14.7%
- By Type
- By Region
- By Application
$XXXX Mn
The aquaponics is used in various applications including academic, commercial, family, and others. Aquaponics is used in commercial applications due to the increasing investments in commercial large scale aquaponics projects and an increasing number of the successful organic food market and growing urban farming.
Rapid growth in production of fish and other food products through aquaponics for business purposes and rising population base, especially in US and Canada, are the factors that are resulting in high demand for the target market in North America. Demand for aquaponics is increasing in the region of Asia Pacific due to increasing number of farmers in emerging economies who are engaged in using aquaponics for producing organic fruits and vegetables and fishes simultaneously in this region. In addition, growing population and growing awareness about advantages by consuming the organic farm products in underdeveloped and developing countries such as India and China. Demand for aquaponics is comparatively less in regions such as Latin America, and the Middle East & Africa.
The aquaponics market worldwide is expected to grow at a compound annual growth rate of nearly 14.7% over the next 10 years and was valued at around US$ 614.0Mn in 2018.
Some of the major players operating in the global aquaponics market are Aquaponic Source, Pentair AES, Backyard Aquaponics, Gothic Arch Greenhouses, Aquaponics USA, Urban Farmers, Nelson and Pade, Stuppy, ECF Farm Systems, PFAS, EcoGro, and Aquaponic Lynx.
