Aquaponics Market

Aquaponics Market outlook (2023 to 2033)

Aquaponics comes from the words hydroponics, which is the practice of growing plants without soil, and aquaculture, which is the practice of raising fish in a confined environment. It has emerged as small-scale farming, especially during the summer and stifling period.

It is the combination of fish farming with vegetable cultivation in a closed-loop water circulation system. This increases crop output in extremely dry times while simultaneously saving a lot of water.

The novel closed loop system where veggies and fish are grown together with the use of recirculation of water. By 2050, there will be 9.7 billion people on the planet, increasing demand for food production techniques that are resource- and environmentally conscious.

The high-end scalability and versatility of new and upgraded systems is demonstrated by their proficiency in turnkey, commercial farming systems. The sector has been able to thrive as a result of the great degree of modularity in these systems and their affordable reinstallation, packaging, shipping, and delivery costs. The effectiveness of this farming innovation compared to single production systems and the low resource requirements are the main drivers of its adoption.

The global Aquaponics market is expected to grow with a CAGR of 12.10% in the forecast period 2023- 2033. The market is valued at USD 863.94 Million in 2023. The industry is expected to cross a valuation of USD 2707.32 Million by 2033.

Report Attributes	Details
Market size (2023 A)	USD 863.94 Million
Base Year for Estimation	2023
Forecast duration for this research	2023-2033
Forecasted Market Value (2033 F)	USD 2707.32 Million
Global Market Growth Rate (2023-2033 E)	CAGR of 12.10%
Key Companies Profiled	Aquaponic Lynx LLC Greenlife Aqua Allotments Backyard pvt Ltd The Aquaponic Source UrbanFarmers AG ECF Farmsystems GmbH Nelson Pade Inc.

What are the drivers of demand in this market?

The capacity to enhance overall output while using fewer inputs than traditional farming and aquaculture methods is the main driver of the industry. Further, it is a practical method because it boosts overall output while being cost-effective. The productivity of vegetable production may be achieved with aquaponics in about 10% of the required land area and 5% of the required water volume.

Additionally, the concept of "Green Space" workplaces is promoted by aquaponics. With the installation of these systems in their offices, businesses and corporations all over the world are demonstrating their dedication to "sustainability." Their advantages at work are numerous and include education, worker health, and fresh fruit like herbs for the cafeteria. The market is about to receive a big boost from the usage of organic farming in the workplace.

The market is expanding as a result of all the advantages it provides over traditional agricultural practises. Fish excrement that decomposes into nitrates and ammonia is bad for fish, but it's good for plant growth since it provides extra nutrients that plants need. As natural food is available to aquaculture and plants for development and productivity, this generates a very sustainable natural system.

This source is used by a wide range of cultures to raise fish and cultivate crops for food. In China and Thailand, rice paddies are farmed with a focus on development using methods from recent years.

What are the hindrances faced by the market?

The market also faces restraint that is closely tied to the relatively high price of the initial system setup. The high cost of investment for technological system installation is a major hindrance in emerging economies.

Many nations rushed into particular areas that offered superior trade income throughout the recent decades as globalization happened at a quick speed. They were leaving the food production industry or agriculture in favor of other ventures since they believed it to be one of the least lucrative industries. Even agriculture started to depend increasingly on exports. It caused significant changes around the world, including in rural places.

The growing interest in economically viable, large-scale projects is a result of the expanding demand for organic and natural foods as well as the development of urban farming practises. The market is comparatively fragmented, with few competitors at the national level and a dearth of regional and international businesses.

How Technology is improving the Output?

Large tanks are used for highly productive and efficient methods of manufacturing organic foods. They are positioned in beds with a little gravel or clay, and their roots drop down into the water. The water is cycled through the system to collect any remaining waste from the fish after being pumped to the plant beds, where it is naturally digested by the plants and may then be returned to the fish tanks.

Environmental parameters are digitally transformed into an output that is clear to read. Use of IoT devices and sensors to maintain constant conditions in the system by regulating temperature, humidity, pH, light intensity, ammonia, water temperature, and dissolved oxygen.

IoT-powered smart analytics are enhancing management. In order to get better results, IoT can be utilized in conjunction with more complex process control techniques like Enterprise Resource Planning (ERP), Manufacturing Execution System (MES), and Supervisory Control and Data Acquisition (SCADA). Remote monitoring, remote maintenance, and best plant utilization are all made possible by the predictive analysis made available by IoT.

Regional Outlook

The sector is divided into four regions based on geography: North America, Europe, Asia Pacific, and the Rest of the World. The largest market share belongs to North America. The market in the North American region will grow as a result of the region's rapid population growth, rising demand for organic products, development of urban farming techniques, rising consumer awareness of health issues, and technological and agricultural

Competitive Landscape

Promotional activities carried out by manufacturers and quality certifications provided and practiced by the manufacturers are the key opportunities carried out to create awareness and reach customers globally. Some of the key market players in the market include Aquaponic Lynx LLC, Greenlife, Aqua Allotments, Backyard Aquaponics Pty Ltd, The Aquaponic Source, UrbanFarmers AG, ECF Farmsystems GmbH, Nelson and Pade Inc., My Aquaponics, and Ultrasonics Canada Corporation.

Segmentation

• By Components :

  • Grow lights
  • Water heaters
  • Pumps and Valves
  • Aeration Systems

• By Produce :

  • Fish
  • Fruits
  • Vegetables
  • Herbs

• By Regions :

  • North America
  • Latin America
  • Europe
  • Japan
  • Asia Pacific Excluding Japan (APEJ)
  • Middle East & Africa (MEA)