Aquaponics Market

Aquaponics Market Outlook (2022-2032)

A significant breakthrough called aquaponics is being incorporated into small-scale farming. Particularly during the stifling, tropical summer months, this technology can be successfully implemented into a business model for farmers as a cost-saving and revenue-generating technique. In a closed-loop water circulation system, fish farming and vegetable growing are combined to create aquaponics. In extremely dry weather, this not only results in significant water savings but also boosts crop yield.

Through their expertise in turnkey, commercial farming systems, new and improved aquaponics systems are displaying high-end scalability and versatility. Due to the high degree of modularity in these systems and their low cost of reinstallation, packing, shipping, and delivery, the sector has been able to flourish. Limited resources needed and efficiency over single production systems are major reasons for the adoption of this farming innovation.

Sharp analytics powered by IoT is improving aquaponics management. IoT can be used in conjunction with more sophisticated process control approaches like Enterprise Resource Planning (ERP), Manufacturing Execution System (MES), and Supervisory Control and Data Acquisition (SCADA) to improve outcomes. The predictive analysis made possible by IoT opens up the option of remote aquaponics system monitoring, remote repair, and optimal plant utilization.

The aquaponics market is anticipated to grow with a CAGR of 12.10% in the assessment years. The market is expected to surpass a value of USD 2415.10 Million by end of 2032. This market at present is valued at USD 770.69 Million in 2022. This research refers to the forecast period 2022 to 2032.

Report Attributes	Details
Market size (2022 A)	USD 770.69 Million
Base Year for Estimation	2022
Forecast duration for this research	2022-2032
Forecasted Market value (2032 F)	USD 2415.10 Million
Global Market Growth rate (2022-2032 E)	CAGR of 12.10%
Key Companies Profiled	Aquaponic Lynx LLC Greenlife Aquaponics Aqua Allotments Backyard Aquaponics Pty Ltd The Aquaponic Source UrbanFarmers AG ECF Farmsystems GmbH Nelson Pade Inc.

What are the drivers of the aquaponics market?

The primary factor driving the business is its ability to increase overall output with fewer inputs than conventional farming and aquaculture methods. Aquaponics is a useful technique since it increases overall output while being economically efficient. With aquaponics, the productivity of vegetable production may be accomplished in around 10% of the land area and 5% of the water volume needed.

Aquaponics is also promoting the idea of ‘Green Space’ offices. Businesses and companies worldwide are showcasing their commitment to ‘sustainability’ by installing aquaponics systems in their offices. Their benefits within the office are myriad ranging from education, employee health, and fresh produce like herbs for the office cafeteria. The use of organic farming in the workspace is all set to give a significant impetus to the market.

The market is gaining traction due to the various benefits it has to offer over conventional methods of agriculture. The waste from fish litter that turns into nitrates and ammonia is harmful to the fish but is beneficial for plant growth as they help in supplementing essential required nutrients. This creates an extremely sustainable natural system as natural food is available to aquaculture and plants for growth and productivity.

Wide-variety of cultures are using this source of rearing fish and growing crops for food. Rice paddies in China and Thailand are grown with a focus on development that is based on techniques for the last few years.

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

What role does technology have to play in Aquaponics?

Modern system is a highly productive and efficient method of producing organic food. Large tanks are used to raise fish, and hydroponically grown plants are also used. Their roots dangle down into the water, and they are planted in beds with a little gravel or clay. After being pumped to the plant beds, where it is naturally digested by the plants and can then be returned to the fish tanks, the water is cycled through the system to collect any leftover waste from the fish.

Investments in commercially large-scale aquaponics projects are growing due to the booming organic and natural food market and increasing urban farming techniques. The aquaponics market is relatively fragmented with the presence of few players at the country level and a lack of regional and global companies.

Segment Wise Insights

This market can be segmented by components, equipment, end users, products, and regions. By components, the industry is segmented into rearing tanks, settling basins, sumps, biofilters, and hydroponics. Furthermore, by equipment, the market is segmented into grow lights, water heaters, pumps and valves, and aeration systems. By produce, the aquaponics market is segmented into fish, fruits and vegetables, and herbs.

The arcade is further segmented by region into Latin America, North America, Europe, CIS & Russia, Asia Pacific excluding Japan, Japan, and the Middle East and Africa. In regional segments, North America and Europe possess significant potential whereas Asia Pacific, and other developing markets, such as Latin America and MEA, possess growth opportunities for Aquaponics over the forecast period. Technological advancement, growing investment in natural products, and increasing demand for organic products in Europe and North American regions are promoting the growth of this Market.

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 innovations.

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 Aquaponics, Aqua Allotments, Backyard Aquaponics Pty Ltd, The Aquaponic Source, UrbanFarmers AG, ECF Farmsystems GmbH, Nelson and Pade Inc., My Aquaponics, and Ultrasonics Canada Corporation.

Aquaponics Market: 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)