According to a new report published by K D Market Insights, titled, Demand for “Aquaponics Market Insights, Trends, Opportunity & Forecast, 2020–2025,” the global aquaponics market size is anticipated to witness exponential growth during the forecast period i.e. 2020-2025. The rapidly surging food demand due to the growing world population, the increasing adoption of advanced farming techniques by governments and farmers across the globe in order to meet the growing food demand, the rising popularity of aquaponics system due to its benefits over conventional farming system, the growing labor shortage and scarcities of natural resources and climate-related challenges are the primary factors driving the growth of the global aquaponics market.
Additionally, the shifting land use from agriculture to urban and industrial uses and the increasing number of small and large aquaponics farms across the globe are projected to further create ample growth opportunities for the global aquaponics market during the forecast period.
However, the development of other controlled environment farming methods and strong dominance of conventional farming methods are limiting the growth of global aquaponics market.
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The North American region dominated the aquaponics market in 2020 and is anticipated to further retain its dominance in the market during the forecast period. The growth of the market in the region can be attributed to the increasing demand for organic products, the growing population, the escalating advancements in urban farming methods and the growing adoption of modern techniques in farming in the region. The Asia-Pacific region on the other hand, is estimated to grow at highest CAGR during the forecast period owing to the increasing adoption of aquaponics by farmers in the developing economies of the region.
According to production type, the fish segment held the largest share in the market in 2020 and is estimated to further witness the highest growth rate during the forecast period. According to equipment, the grow lights segment accounted for the largest share in the global aquaponics market in 2020 and is expected to further retain its dominance in the market during the forecast period.
The global aquaponics market is segmented into component, application, production type, equipment and region. Based on component, the market is bifurcated into rearing tank, settling basin, filtration unit, consumables and others. Based on application, it is classified into commercial, home food production and others. Based on production type, it is classified into plants, fruits & vegetables, herbs, tobacco, fish and others. Based on equipment, it is classified into fish purge systems, aerators, sensors, in-line water heaters, pumps & valves, grow lights and others.
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The global aquaponics market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
Key Insights of Aquaponics Market
- On the basis of production type, the fish segment held the largest share in the market in 2020 and is estimated to further witness the highest growth rate during the forecast period.
- On the basis of equipment, the grow lights segment accounted for the largest share in the global aquaponics market in 2020 and is expected to further retain its dominance in the market during the forecast period.
- On the basis of region, North America dominated the aquaponics market in 2020 and is anticipated to further retain its dominance in the market during the forecast period.
- On the basis of region, Asia-Pacific is estimated to grow at highest CAGR during the forecast period.
Some of the major aquaponics companies profiled in the report include Pentair Plc., Aquaponic Solutions, Nelson and Pade Inc., Green Life Aquaponics, ECF Farmsystems GmbH, Colorado Aquaponics, Symbiotic Aquaponic, Living Green Company, Aquaculture Innovations and Urbagrow Aquaponics.
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