Aquaponics Market Overview:
Aquaponics is the combined procedure of both Aquaculture (breeding and harvesting of fish, shellfish and aquatic plants) and Hydroponics (growing plants without soil, but with water and nutrients). This combination involves a procedure of flowing the water from the fish tank to the place where plants are grown, and bring back the water after purification and removal of fish wastes through various filters, thereby reducing the consumption of the water, a valuable resource. The global AquaPonics market accounts for a revenue of $534.34 million in 2017 and is expected to reach $1042.4 million by 2022 at a CAGR of 14.3%. Aquaponics market uses various equipment like Grow lights, water heaters, water pumps, bio filters that plays a major role in the Aqua procedures
Aquaponics Market Outlook:
A systematic looping of cultivation from aquaculture system and the hydroponics system together results in Aquaponics. This complete procedure of water flow from one system to another includes different parameters like Method used, Components of the system, fishes grown, plants or herbs cultivated and others. Mostly Aquaponics is done through three different methods Raft method also known as Deep Water Culture, Nutrient Film Technique (NFT), Media-filled beds method. Drip Irrigation method, Ebb and Flow system are other methods used in Aquaponics. Each method uses specific components required for cultivation. The basic components for these methods are Tanks for cultivating fish, soil-free beds for plants, tubes for water flow, tanks for degassing and filtering through bio filters, grow lights, meals for fishes and others. Different types of fishes are grown and various kinds of herbs, plants for vegetables and fruits are cultivated. Prices of grow lights varies between $50 and $500 per price. Fish meal would be costing nearly $1650 per metric ton in 2017. Tanks used for Fish culture would be costing between $9000 and $13000 per piece.
Aquaponics Market Growth drivers:
Water has become the scarcest resource in the current day scenario because of increasing water pollution and infrequent rainfall. Aquaponics adopts the sustainability towards the natural resources without depleting them. Plants or crops cultivated through Aquaponics require 95% of lesser water than crops grown under the ground. Also, the harvesting time will be reduced by nearly 50% than the crops grown in ordinary manner. This will be the major driver for the growth of Aquaponics market. Also, plants grown through ordinary methods would be often infected by soil pests and the only way to get rid these pests would be use of pesticides. Plants easily absorbs the toxins of such pesticides and get affected by them sooner. But this does not happens in Aquaponics as there is no concept of soil and soil pests. This results in higher adoption of Aquaponics techniques for the most healthier and organic plants. This results in the growth of the market. Increased investments from urban farming firms, encouragement of agricultural bodies are some other drivers.
Aquaponics Market Challenges:
Sustainable Agricultural practices like Hydroponics, Vertical farming, Organic arable farming are witnessing growth from the past few years with the increased adoption of sustainable practices. This could be a challenge that could hinder the growth of the Aquaponics market. Aquaponics is a procedure in which several components are joined based on the method used for the easy flow of water from one tank to another tank. Any disconnection from one of the joints results in failure or stoppage of complete procedure as Aquaponics is a continuous process of cultivation. This results in difficulty for the adopters of Aquaponics what choose between Aquaponics and Ordinary method of cultivation, hence becomes a challenge for the growth of the market.
Aquaponics Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Aquaponics market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of components in Aquaponics market, and their specific applications in different types of Methods.
Aquaponics Market Report: Industry Coverage
Aquaponics Market – by Aquaponics Method: Raft method, Nutrient Film technique, Media-filled beds, Drip irrigation, Ebb and Flow system.
Aquaponics Market – by Components: Fish Tanks, Soil free Plant Beds, Clarifiers, Filter Tanks, Bio Filters, Degassing Tanks, Troughs, Sump, Tubes, Base addition Tanks, Settling Basins and others.
Aquaponics Market – by cultivation: Fishes, Herbs, Vegetable and Fruit Plants, Flower Plants and others.
Aquaponics Market – by equipment: Water Heaters, Pumps and Valves. Monitoring and Alarms, Water Quality Testing, Fish Purge Systems, Complete Systems, Growing Accessories, Growing Media, Nutrient Supplements, Pest Control Equipment, Pots and Containers, Stands and Trays, Aeration systems and Plant Support.
Aquaponics Market – by Application: Commercial, Community, Home production, Research Centers, Agriculture and Farming and other.
The Aquaponics market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Aquaponics Market Key Players Perspective:
Some of the Key players in this market that have been studied for this report include:
Nelson and Pade, Inc., Pentair Aquatic Eco-Systems, Inc., ECF Farmsystems GmbH, AquaCal AutoPilot, Inc., Japan Aquaponics, Green Life Aquaponics, Backyard Aquaponics Pty Ltd, Lucky Clays Fresh, Aponic Ltd, LivinGreen, MyAquaponics, The aquaponik manufaktur GmbH, NutraPonics Canada Corporation.
Market Research and Market Trends of Aquaponics Market:
- Internet of Things (IoT)-based Aquaponics Facility came into light to organize and position water-quality sensors which provide remote, continuous, and real-time information of water quality indicators using graphs. Monitoring of this data, and making necessary adjustments, will help to maintain healthy ecosystem that is helpful in the growth of fishes and plants, while utilizing about 90% less water than traditional farming.
- Improving the utilization of Nitrogen in AquaPonics by the introduction of algal-bacterial consortia has resulted in increase of nitrogen use efficiency (NUE) by 13.79%. This also shows some good quality in the production by AquaPonics due to algae bacterial assimilation.