Aquaponics Market to register CAGR 22.5% from 2018 to 2024.
Posted On September 14, 2018
Value Market Research has released a new market study based on the Global Aquaponics Market from 2017-2024. The market was valued at USD 370.5 Million (by revenue) in 2017 and is anticipated to reach USD 1,501.0 Million by 2024 with a CAGR of 22.5%. The main objective of the report is to offer insights on the various market dynamics that are expected to influence the present market scenario and future state of the global aquaponics market. Aquaponics are gaining popularity owing to its eco-friendly and efficient way to produce food. The rising demand for organic food, expansion of urban farming methods, and off-season availability of fruits and vegetables are factors supporting the growth of the market. Also, rising adoption of the aquaponic technique by farmers in response to rising demand for food and to ensure year-round produce which helps to stabilize the food price is further boosting the growth of the market.
The aquaponics technique is a system which enables farming plants and fish together in a symbiotic environment. The production of aquaponic food offers numerous advantages over traditional farming such as it doesn't require land and fertilizer, it uses less amount of water and this method can be performed irrespective of climatic conditions. This technique is also useful produce any kind of crop at any time of year.
The report "Global Aquaponics Market Report analyses market share based on Production Type (Fish, Vegetables & Fruits, Herbs, and Others), Equipment (Pumps and Valves, Grow Lights, Water Heaters, Water Quality Testing, Fish Purge Systems, Aeration Systems, and Others), Component (Sump, Rearing Tanks, Biofilter, Hydroponics Subsystem, Settling Basin, and Others), Application (Commercial, Home Food Production, Education & Research, and Others) and by Regions - Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2017-2024" offer updates on the drivers, trends, value forecast, and opportunities for the key players in the market. The futuristic outlook analyzed in the report is helpful is taking market based strategic decisions.
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The report analyzes the market of aquaponic on the basis of product type, equipment, component, application, and region. By production type, the market is split into fish, vegetables & fruits, herbs, and others. Among these, vegetable & fruits are leading the product type segment owing to growing demand for organic food along with shifting consumer preference toward a vegan diet. Based on equipments, the market studies pumps and valves, grow lights, water heaters, water quality testing, fish purge systems, aeration systems, and others. Out of which, grow light is dominating the segment owing to its high efficiency to emit light & heat for the process of photosynthesis is driving their demand. On the basis of the components, the market is bifurcated into sump, rearing tanks, biofilter, hydroponics subsystem, settling basin, and others. Among these segment, the hydroponic subsystem is dominating segment since it is cost-effective, allows the farmer to easily monitor, and ensure optimal real-time nutrients balance. This advanced technique help to improve productivity and enhance the quality of the product, thereby raising their demand. By application, the market is segregated into commercial, home food production, education & research, and others. Out of which, commercial aquaponics has dominated the segment owing to better sustainability, profitability, expansion and continuous harvesting. In the final section, the market has been discussed on the basis of following region i.e. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Europe has emerged as the leader for aquaponics market owing to rising demand for organic food along with technological innovation are the factors driving the market growth. Also, rising investment by European Union to promote adoption of aquaponics among farmer is again fueling the market growth in the next six years.
The Report Segments Global Aquaponics Market -
By Production Type
- Vegetables & Fruits
- Pumps and Valves
- Grow Lights
- Water Heaters
- Water Quality Testing
- Fish Purge Systems
- Aeration Systems
- Rearing Tanks
- Hydroponics Subsystem
- Settling Basin
- Home Food Production
- Education & Research
- North America
- Latin America
- Middle East & Africa
Key Players In The Market
Backyard Aquaponics Pty Ltd., Colorado Aquaponics, ECF Farmsystems GmbH, Greenlife Aquaponics, My Aquaponics, Nelson & Pade Inc. and Urban Farms AG.
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