USD 1.39 billion
Aquaponics Market Size, Share, Growth Analysis, By System Type(Media-based Aquaponics Systems, Nutrient Film Technique (NFT) Aquaponics Systems, Deep Water Culture (DWC) Aquaponics Systems, and Others), By Application(Indoor Aquaponics, and Outdoor Aquaponics), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30H2109 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
63
|Figures:
75
Aquaponics Market Insights
Global Aquaponics Market size was valued at USD 1.39 billion in 2022 and is poised to grow from USD 1.61 billion in 2023 to USD 5.29 billion by 2031, growing at a CAGR of 16% in the forecast period (2024-2031).
The global aquaponics market has been experiencing significant growth in recent years, driven by the rising demand for sustainable agricultural practices and the need for efficient food production systems. Aquaponics is a symbiotic system that combines aquaculture (fish farming) and hydroponics (cultivation of plants in water) in a closed-loop environment. It offers several advantages such as reduced water usage, elimination of chemical fertilizers, and year-round cultivation, which have attracted the attention of farmers and food enthusiasts alike. Furthermore, aquaponics offers environmental benefits that are becoming increasingly important in today's world. As a closed-loop system, it recirculates water, minimizing water usage by up to 90% compared to traditional farming methods. Additionally, the absence of soil eliminates the need for chemical fertilizers, reducing the risk of soil erosion and nutrient runoff into water bodies. This makes aquaponics an eco-friendly alternative to conventional farming, appealing to environmentally conscious consumers.
Despite the numerous advantages, the global aquaponics market still faces some challenges. Initial setup costs can be relatively high, primarily due to the investment required for setting up the necessary infrastructure and technology. Additionally, the technical knowledge and expertise required to operate an aquaponic system can be a barrier for some farmers. However, as the market matures and technology advancements continue, it is expected that these challenges will be addressed, leading to wider adoption of aquaponics.
US Aquaponics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Media-based Aquaponics Systems
Fastest Growth
Media-based Aquaponics Systems
Growth Rate
16% CAGR
Global Aquaponics Market ($ Bn)
Country Share for North America Region (%)
To get more reports on the above market click here to Buy The Report
Aquaponics Market Segmental Analysis
The global aquaponics market is segmented on the basis of system type, application, component and region. Based on system type, the market can be segmented into Media-based Aquaponics Systems, Nutrient Film Technique (NFT) Aquaponics Systems, Deep Water Culture (DWC) Aquaponics Systems and others. Based on application, the market is segmented into herbs, fruits and vegetables, fish and others. By component the market can be segmented into Rearing Tanks, Settling Basins, Biofilter, Hydroponics Subsystem and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
In terms of dominance, media-based aquaponics systems are typically considered the most prevalent type in the global aquaponics market. These systems utilize a growth medium, such as gravel, clay pellets, or expanded clay, to provide mechanical support to the plants and create a biofiltration environment for the bacteria that convert fish waste into plant nutrients. Media-based systems are widely adopted due to their versatility, ease of implementation, and ability to support a wide variety of plant species. They offer a balanced approach that combines aquaculture and hydroponics, making them popular among both commercial and hobbyist aquaponics practitioners.
As for the fastest-growing type in the global aquaponics market, Nutrient Film Technique (NFT) aquaponics systems are gaining considerable attention and experiencing rapid growth. NFT systems involve a thin film of nutrient-rich water flowing over the plant roots, allowing for direct absorption of nutrients. This method minimizes the need for a growth medium and provides efficient nutrient delivery to the plants. NFT systems are known for their water and space-saving advantages, making them particularly attractive for urban and indoor farming applications. The increasing interest in sustainable agriculture, urban farming initiatives, and the demand for locally grown produce contribute to the growth of NFT aquaponics systems.
Analysis by Application
The dominant application in the global aquaponics market is herbs. Herbs have gained significant traction in aquaponics systems due to their high market demand, versatility, and relatively quick growth cycle. Herbs like basil, mint, cilantro, and parsley are commonly grown in aquaponics setups as they thrive in the nutrient-rich water provided by the system. The ability to grow herbs efficiently and sustainably through aquaponics has contributed to their dominance in the market.
In terms of the fastest-growing application, vegetables hold this distinction in the global aquaponics market. Aquaponics systems have proven to be highly effective for cultivating a wide range of vegetables, including leafy greens (such as lettuce, kale, and spinach), tomatoes, cucumbers, peppers, and more. Vegetables have gained popularity due to their nutritional value, consumer demand for locally grown produce, and the ability to grow them year-round in controlled environments. The sustainable and resource-efficient nature of aquaponics, coupled with the increasing focus on urban farming and sustainable agriculture practices, has fueled the rapid growth of vegetable production in aquaponics systems.
Global Aquaponics Market By Type
To get detailed analysis on other segments, Request For Free Sample Report
Aquaponics Market Regional Insights
In terms of the most dominant region in the global aquaponics market, North America takes the lead. The region has witnessed widespread adoption of aquaponics systems, primarily due to several favorable factors. First, North America has a strong focus on sustainable farming practices and the production of organic food. Aquaponics, with its integration of aquaculture and hydroponics, offers a sustainable and efficient method of food production. Additionally, the region has advanced technological capabilities and a supportive regulatory environment, which further boosts the growth of the aquaponics market. The presence of key market players and innovative start-ups in North America also contributes to its dominance in the global aquaponics market.
The fastest-growing region in the global aquaponics market is Asia Pacific. The region has been witnessing rapid growth in recent years, driven by several factors unique to this region. Asia Pacific has a large population, rising disposable incomes, and changing dietary preferences towards healthier and organic food options. As a result, there is an increasing demand for sustainable agricultural practices like aquaponics. Additionally, the region faces challenges in traditional agriculture due to limited arable land and water scarcity. Aquaponics offers a viable solution by utilizing limited resources efficiently and providing year-round crop production.
Global Aquaponics Market By Geography
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Aquaponics Market Dynamics
Drivers
Enhanced Crop Yield and Year-Round Production
- Aquaponics systems offer favorable growing conditions for plants, leading to increased crop yields in comparison to traditional farming techniques. Utilizing controlled environments like greenhouses, aquaponics enables year-round production regardless of external climate variations. This advantage optimizes productivity and guarantees a steady availability of fresh produce, even during off-seasons.
Restraints
Technical Complexity and Expertise Requirements
- Technical complexity and expertise requirements pose challenges in aquaponics systems as they demand specialized knowledge and skills to ensure optimal conditions for fish and plant growth. Inexperienced farmers may face difficulties in monitoring water quality parameters, maintaining appropriate pH levels, balancing nutrients, and effectively managing disease control. Acquiring the necessary expertise and understanding the intricate aspects of aquaponics can serve as a barrier for newcomers entering the industry.
Request Free Customization of this report to help us to meet your business objectives.
Aquaponics Market Competitive Landscape
The global aquaponics market is witnessing increasing competition as the demand for sustainable agricultural practices continues to rise. The market landscape comprises a mix of established players, emerging startups, and technology providers aiming to capitalize on the growing interest in aquaponics. These companies have a proven track record in commercial-scale aquaponics operations, supplying fresh produce and fish to a wide range of consumers. They often invest in research and development, continuously improving system efficiency and exploring new plant and fish species suitable for aquaponics. Moreover, they focus on expanding their geographical reach through strategic partnerships, acquisitions, and collaborations with local stakeholders.
As the aquaponics market continues to grow, competition is intensifying, leading to increased investments in research, technology advancements, and market expansion strategies. Key areas of focus include improving system efficiency, reducing energy consumption, developing specialized equipment and software solutions, and exploring new markets and customer segments.
Top Player’s Company Profiles
- Nelson and Pade, Inc. (US)
- Pentair Aquatic Eco-Systems, Inc. (US)
- Aquaponics USA (US)
- Green Life Aquaponics (US)
- Japan Aquaponics (Japan)
- Aquaponic Lynx LLC (US)
- Backyard Aquaponics Pty Ltd (Australia)
- The Aquaponic Source (US)
- ECF Aquaponics Farm (Malaysia)
- Earth Solutions (US)
- Future Farms (Australia)
- Aquaponics Africa (South Africa)
- The Aquaponics Place LLC (US)
- Aquaponic Farming Italia (Italy)
- My Aquaponics (South Africa)
- Fishy Plants (US)
- Aquaponics No Ka 'Oi (US)
- Aponic Ltd (United Kingdom)
- AquaSprouts (US)
- Bright Agrotech (US)
Recent Developments
- . In March 2023, UP Vertical Farms introduced innovative solutions to address the challenges faced by traditional farming methods. The company launched a high-density contactless vertical farm, aiming to become the most sustainable vertical farm by 2023.
- In October 2022, AeroFarms made the strategic decision to expand its operations nationwide, extending beyond the Northeast region, to cater to the growing demand for specialty vegetables. The company achieved a significant milestone by becoming the first indoor farming company to join the Whole Foods Market Global Planogram, gaining access to a wider market for its all-natural food products.
- In October 2022, Singrow, an Agtech company based in Singapore, introduced Bloom, a consumer concept brand with plans for expansion in Asia and beyond, Singrow aims to extend its firm partner presence beyond China, Singapore, and Indonesia to include Thailand, the Philippines, Hong Kong, and the Middle East.
- In December 2021, Dream Harvest Farming Company, a Houston-based vertical farming company, secured USD 50 million in funding from Orion Energy Partners. The funding infusion is intended to support the company's production scale-up and the construction of a 100,000 sq. ft indoor vertical farming facility. Dream Harvest aims to expand its operations, serve additional retailers, and contribute to the growth of the vertical farming industry.
- In April 2021, Les Nouvelles Fermes, a France-based indoor farming company, successfully raised EUR 2 million (approximately USD 2.4 million) in its first round of funding. The investors, including IRDI, the Banque des Territoires, Crédit Agricole Aquitaine, and the CIC, recognized the company's potential and supported its vision. With the funding, Les Nouvelles Fermes plans to establish the largest aquaponic farm in Europe, showcasing its commitment to sustainable agriculture practices and innovative farming techniques.
Aquaponics Key Market Trends
- Environment-friendly Nature: Aquaponics offers a unique advantage in the agricultural industry as it enables the production of organic crops without the use of chemical fertilizers or crop protection chemicals. This environmentally-friendly method utilizes fish waste as a natural nutrient source for plants, creating a symbiotic relationship between aquaculture and hydroponics. As a result, the demand for organically grown crops presents a significant opportunity for emerging aquaponic farms and system providers. Recognizing the potential of aquaponic farming within the organic produce industry, the European-funded COST Action FA1305, known as "The European Union Aquaponics Hub-Realising Sustainable Integrated Fish and Vegetable Production for the EU," played a significant role in fostering collaboration between researchers and private entities. This initiative aimed to strengthen the network and knowledge exchange in the field of aquaponics. Consequently, the increasing demand for organically grown crops is expected to be a major driver for the global aquaponics industry throughout the forecast period. The environmentally-friendly nature of aquaponics, coupled with the rising consumer preference for organic produce, positions aquaponic farming as a sustainable solution for meeting the demand for organic fruits and vegetables.
Aquaponics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global aquaponics market analysis, aquaponics is a symbiotic system that combines aquaculture (fish farming) and hydroponics (soilless plant cultivation) in a recirculating environment. This innovative approach offers numerous benefits, including efficient use of water, nutrient recycling, and minimal environmental impact. Aquaponics offers environmental benefits that are becoming increasingly important in today's world. Regionwise, North America dominated the market with Asia Pacific in close competition.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.39 billion |
| Market size value in 2031 | USD 5.29 billion |
| Growth Rate | 16% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Aquaponics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Aquaponics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Aquaponics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Aquaponics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Aquaponics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Aquaponics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
