Global Aquaponics Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Aquaponics is a sustainable agricultural system that combines aquaculture (raising fish or other aquatic animals) with hydroponics (cultivating plants in water without soil) in a symbiotic environment. In this system, water from the aquaculture portion is circulated to the hydroponic system, where plants take nutrients from the fish waste as fertilizer. Aquaponics leads to reduced water usage compared to traditional farming, no need for chemical fertilizers, and the ability to produce fish (protein) and vegetables in a single integrated system.

Sizing and Forecast

The aquaponics market size has grown rapidly in recent years. It will grow from $1.29 billion in 2023 to $1.42 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to environmental sustainability, rising urbanization, consumer demand for organic produce, rising concerns about chemical pesticide use, government subsidies and incentives.

The aquaponics market size is expected to see rapid growth in the next few years. It will grow to $2.11 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to climate change impacts, increasing global population, regulatory support for sustainable farming practices, shifting dietary preferences towards healthier options, rising awareness of food miles and carbon footprint. Major trends in the forecast period include expansion of aquaponic systems in commercial agriculture, development of integrated aquaponics-fisheries systems, customization of aquaponic systems for niche markets, integration of renewable energy sources in aquaponic setups, utilization of blockchain technology for traceability and transparency.

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Segmentation & Regional Insights

The aquaponics market covered in this report is segmented –

1) By Component: Bio Filter, Settling Basins, Fish Tanks, Soil-Free Plant Bed, Rearing Tanks, Aquaponic Produce, Other Components
2) By Equipment: Grow Lights, Pump And Valves, Water Heaters, Water Quality Testing, Fish Pump Systems, Aeration System, Other Equipments
3) By Growing Mechanism: Deep Water Culture (DWC), Nutrient Film Technique (NFT), Media Filled Grow Beds, Application Aquaponics
4) By Produce: Fish, Fruits, Vegetables, Herbs
5) By Application: Commercial, Home Production, Research And Education

North America was the largest region in the aquaponics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aquaponics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth

The growing reduction in arable land areas is expected to drive the growth of the aquaponics market going forward. Arable land areas refer to expanses of land suitable for growing crops, typically characterized by fertile soil and favorable environmental conditions. The reduction in arable land areas is due to urbanization, soil degradation, and land conversion for non-agricultural purposes. Aquaponics plays a role in mitigating arable land areas by enabling efficient cultivation of crops in limited space, utilizing vertical farming techniques, and integrating aquaculture with hydroponics for sustainable agriculture practices. For instance, in November 2023, according to the statistics published by the Department for Environment, Food & Rural Affairs, a UK-based government ministerial department, the total area of arable crops in England decreased by 1.3% decrease between 2022 and 2023, falling to just under 3.7 million hectares, while the total area of cereal crops decreased by 3.0% to just under 2.6 million hectares. Therefore, the growing reduction in arable land areas drives the aquaponics market.

Key Industry Players

Major companies operating in the aquaponics market are Hydrofarm, AquaCal, Stuppy Greenhouse, Greenlife Crop Protection Africa, AquaBioTech Group, Red Ewald, Portable Farms Aquaponics Systems, Lucky Clays Fresh, Practical Aquaponics, FUTURE FARMING, Pentair Aquatic Eco-System Inc., Aquatic Network, Nelson & Pade Aquaponics, AquaSprouts, ECF Farmsystems GmbH, Ichthys Aquaponics, Symbiotic Aquaponic LLC, The Aquaponic Source, Endless Food Systems, The Urban Farming Guys, Aponic Ltd., NutraPonics, Gothic Arch Greenhouses, FriendlyAquaponics, ECOLIFE Conservation.

The aquaponics market report table of contents includes:

1. Executive Summary
2. Aquaponics Market Characteristics
3. Aquaponics Market Trends And Strategies
4. Aquaponics Market – Macro Economic Scenario
5. Global Aquaponics Market Size and Growth
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32. Global Aquaponics Market Competitive Benchmarking
33. Global Aquaponics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Aquaponics Market
35. Aquaponics Market Future Outlook and Potential Analysis
36. Appendix

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