Dublin, July 03, 2023 (GLOBE NEWSWIRE) -- The "Aquaponics Market Size, Share & Trends Analysis Report By Equipment, By Component, By Facility Type (Greenhouse, Building Based Indoor Farms), By Growing Mechanism, By Produce, By Application, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global aquaponics market size is expected to reach USD 2,294.48 million by 2030, registering a CAGR of 13.0% during the forecast period.
Aquaponics is the integration of two production systems, aquaculture, and hydroponics, into one hybrid system. Aquaculture is the production of aquatic plants and animals in a controlled environment.
At the same time, hydroponics is the production of plants in soil-less cultures, such as a substrate of an aqueous medium with bare roots. Two types of agricultural produce are obtained from aquaculture, namely, fish and plants, which are obtained sustainably. Water efficiency, low wastage, high yield, improved production quality, and economical production are some of the advantages of aquaponics systems.
The aquaponics system does not require applying chemical fertilizers and pesticides, which means the fish, vegetables, and fruits produced are completely organic. The increasing demand for organic food across the globe, especially in developed European nations and the United States, is expected to be one of the key drivers in the growth of the aquaponics industry.
Adopting aquaponics enables effective optimization of resources as it utilizes 95% lesser water and 90% lesser area than traditional farming techniques. With the ever-increasing demand for food and the limitation of the available water and land resources adoption of aquaponics systems can be highly beneficial.
The demand for aquaponics equipment and components is growing from backyard growers/hobbyists, given the self-sufficient nature of the system. Aquaponics systems are being increasingly deployed for humanitarian and food security interventions.
Non-governmental organizations in several developing nations such as Barbados, Botswana, Brazil, Ethiopia, Guatemala, Ghana, Haiti, Jamaica, India, Mexico, Malaysia, Nigeria, the Philippines, Thailand, Panama, and Zimbabwe are installing aquaponics systems in urban and peri-urban areas as a part of urban food security and nutrition programs. The Food and Agriculture Organization (FAO) has piloted small-scale aquaponics systems in Gaza Strip and West Bank for food and nutrition security.
The COVID-19 pandemic significantly impacted the supply chain of the aquaponics industry. The supply of aquaponics equipment and component was disrupted due to the global supply chain disruptions and the closure of the borders. However, the pandemic has shifted the focus towards alternative farming techniques such as aquaponics. Urban farming has garnered attention, and aquaponics systems are now being installed in supermarkets for direct distribution, and urban warehouses are being converted to indoor farms to supply fresh produce to local markets.
Companies Mentioned
- Nelson and Pade Aquaponics
- Pentair Aquatic Eco-System, Inc. (PAES)
- The Aquaponic Source
- Hydrofarm Holdings Group, Inc
- Practical Aquaponics (Pty)Ltd
- Greenlife Aquaponics
- Backyard Aquaponics Pty Ltd
- My Aquaponics
- Aquaponic Lynx LLC
- Portable Farms Aquaponics Systems
- aquaponik manufactory GmbH
- Aponic Ltd
Aquaponics Market Report Highlights
- The grow light equipment segment is anticipated to grow at the fastest CAGR of 14.2% during the forecast period. The increasing preference for controlled environment agriculture is fueling the demand for grow lights
- The rearing tank segment dominated the market in 2022 with a market share of about 24%. The rearing tank is the most integral component of aquaponics systems and enjoys high demand
- The greenhouse segment dominated the market in 2022, accounting for a market share of about 46%. Greenhouses can get natural sunlight and are hence preferred over other indoor facilities in tropical areas
- The vertical aquaponics segment is anticipated to grow at the fastest CAGR of 13.7% during the forecast period. The growth can be attributed to the higher optimization of farm areas with vertically stacked grow beds in vertical aquaponics
- The fish segment held the largest market share in 2022. The dominance of the segment is owing to the higher fish yields obtained from aquaponics as compared to other products
- The research and education segment is anticipated to grow at a CAGR of 13.5%. The growth can be attributed to the research activities in the field of aquaculture
- The Asia Pacific regional segment is anticipated to register a significant CAGR of 14.5% during the forecast period. The growth can be attributed to the increasing awareness of water-efficient alternative farming techniques
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $874.32 Million |
| Forecasted Market Value (USD) by 2030 | $2294.48 Million |
| Compound Annual Growth Rate | 13.0% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends, & Scope Outlook
3.1. Market Lineage Outlook
3.2. Aquaponics Market - Value Chain Analysis
3.3. Aquaponics Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Market Opportunity Analysis
3.4. Aquaponics Market - Porter's Five Forces Analysis
3.4.1. Supplier power
3.4.2. Buyer power
3.4.3. Substitution threat
3.4.4. Threat from new entrant
3.4.5. Competitive rivalry
3.5. Aquaponics Market - PEST Analysis
3.5.1. Political landscape
3.5.2. Economic landscape
3.5.3. Social landscape
3.5.4. Technology landscape
3.6. COVID-19 Impact Analysis
Chapter 4. Aquaponics Market Equipment Outlook
Chapter 5. Aquaponics Market Component Outlook
Chapter 6. Aquaponics Market Facility Type Outlook
Chapter 7. Aquaponics Market Growing Mechanism Outlook
Chapter 8. Aquaponics Market Produce Outlook
Chapter 9. Aquaponics Market Application Outlook
Chapter 10. Aquaponics Market: Regional Estimates & Trend Analysis
Chapter 11. Aquaponics Market Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/vrv8uo
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