Aquaponics Market Size, Top Key Players, Latest Trends, Regional Insights and Global Industry Dynamics By 2022-2032
In terms of value, the global aquaponics
market is projected to register a healthy CAGR of 7.4% by produce type and
7.9% by equipment type during the forecast period due to various factors,
regarding which FMI offers vital insights in detail.
On the basis of product type, the market is segmented into
fish and vegetables. On the basis of equipment type, the market is segmented
into tank systems; rafts; liners and medium; pumps, airstones, and aeration
systems; plumbing equipment and material; and others. By technique, the market
is segmented into DWC, NFT and MFG.
Factors Impacting Growth of the Global Aquaponics Market
Increasing consumer demand for local or regionally produced
vegetables is a major driver for growth of the global aquaponics vegetables
market, as farms mainly cater to regional consumers due to logistics issues and
small land holdings. Consumer demand for local foods is growing at par with
that of organic and natural foods, as locally grown foods inspire a sense of
freshness, makes it feel like a community effort, and enables transparency
among consumers. Trust building between food manufacturers and consumers in
domestic and regional markets is the prominent trend with regard to clean label
products and raw material traceability, which is driving demand for aquaponics
vegetables to a significant extent.
Growth of farmers' markets, increasing number of community
sponsored agriculture initiatives, and adoption of other direct-to-consumer
distribution channels is resulting from rising popularity and demand for
locally produced vegetables. Such distribution channels also benefit small
farmers or new farms that might not have proper access to distributors and
suppliers. Retailers are also increasingly sourcing locally grown vegetables
owing to better taste, longer shelf life, and negligible transportation costs,
which results in consumers being able to procure these products at lower cost.
In addition, vegetables transported over long distances results in spoilage and
damage such as shrinkage, thus making the products unappealing.
High cost of establishing an indoor or outdoor aquaponics
cultivation system is a major barrier for new entrants in the market. Depending
on the level of technology used, a greenhouse can cost around two to 20 times
more than that required for a conventional soil based growing system. The additional
costs of aquaponics cultivation can be attributed to the requirement of control
and automation systems along with the necessity of expert advice and
consultation.
Aquaponics Market Segmentation By Product- Fish,
Vegetables; Equipment- Tank Systems ,Rafts, Liners, & Medium ,Pumps,
Airstones, & Aeration Systems ,Plumbing Equipment & Material ,Others;
Technique- DWC ,NFT ,MFG
This factor is more pronounced in developing regions, where
initial investment is relatively difficult to secure. In India for
instance, the overall cost of setting up and maintaining a medium scale
greenhouse is currently around US$ 376,500, which is significantly higher
than the investment required for a traditional farming setup.
Global Aquaponics Market: Vendor Profiling
In the final section of the report, a competitive landscape
has been included to provide report audiences with a dashboard view of the
companies currently operating in the global market. Detailed profiles of the
providers are also included in the scope of the report to evaluate their
long-term and short-term strategies, key offerings and recent developments in
the aquaponics space.
Key players in the global Aquaponics market includes Nelson
and Pade, Inc., Pentair Aquatic Eco-Systems, Inc., ECF Farmsystems GmbH,
AquaCal AutoPilot, Inc., Japan Aquaponics, GrowUp Urban Farms Ltd., Kunia
Country Farms LLC, Green Life Aquaponics, Backyard Aquaponics Pty Ltd, Hapa
Farms, Lucky Clays Fresh, Blueplanet Urban Agro Services Pvt Ltd, Global
Aquaponic Systems Corporation, Ichthys Aquaponics, Aponic Ltd, Red Ewald Inc.,
LivinGreen, MyAquaponics, The aquaponik manufaktur GmbH and NutraPonics Canada
Corporation
Main Report Link:
https://www.futuremarketinsights.com/reports/aquaponics-market
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