Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 1.43 Billion

CAGR (2023-2028)

8.60%

Fastest Growing Segment

Grow Lights

Largest Market

North America

 

Market Overview

Global Aquaponics Market has valued at USD 1.43 Billion in 2022 and is anticipated to project impressive growth in the forecast period with a CAGR of 8.60% through 2028. Aquaponics, in essence, encompasses the symbiotic relationship between fish and plants. Hydroponics involves cultivating plants without soil, while aquaculture entails raising fish in a closed environment. In aquaponics, both methods are combined to achieve the same outcome. The reproductive mechanism serves as the fundamental principle behind the entire concept of aquaponics. It is defined by the cultivation of fish in tanks while adhering to the principles of soilless plant cultivation. During this process, fish and plants mutually benefit from each other. The nutrient-rich water generated from fish breeding serves as an excellent fertilizer for indoor plants. Simultaneously, the plants provide a freshwater habitat for the fish.

Aquaponics is renowned for its ability to stimulate natural ecosystems, making it an environmentally friendly approach to food production. By promoting sustainability and yielding organic vegetables while significantly reducing waste, aquaponics offers an effective and eco-friendly solution for growing crops. This capability is expected to play a crucial role in driving the growth of the aquaponics market.

Key Market Drivers

Reduction in Arable Land Globally

The escalating concern over the reduction in arable land globally is anticipated to amplify the demand for aquaponics. Rapid urbanization and industrialization are leading to an accelerated rate of land degradation, rendering once-fertile soil unfit for cultivation. Concurrently, the relentless surge in the global population is escalating the pressure on agricultural sectors to enhance productivity. In this critical juncture, aquaponics emerges as a sustainable and productive solution. Aquaponics, a system integrating aquaculture and hydroponics, enables the conservative use of land and water, producing both fish and vegetables simultaneously. Its closed-loop system ensures almost zero waste, and the symbiotic relationship between the plants and fish in the system substantially lessens the need for chemical fertilizers and pesticides. This organic nature of production is also attractive for those concerned with their dietary intake. As such, the adoption of aquaponics is likely to surge as it addresses multiple issues—land scarcity, food security, and environmental sustainability—simultaneously, making it a viable solution for the future of agriculture.

Growing Urban Population Leading to Space Constraints for Traditional Agriculture

The rapid urbanization of our planet and the consequent surge in population density are presenting significant challenges for traditional agriculture. As cities expand and available land diminishes, the need for alternative, space-efficient farming techniques becomes increasingly critical. Aquaponics emerges as a sustainable and innovative solution gaining traction globally. Aquaponics is a unique system that allows for the symbiotic cultivation of plants and aquatic animals in a recirculating environment. By leveraging the waste produced by fish to provide nutrients for plant growth, this method maximizes resource efficiency. Not only does aquaponics use less than 10% of the water required by traditional agriculture, but it also reduces the reliance on arable land and external water supply.

What makes aquaponics even more appealing is its versatility. This system can be implemented in various urban settings, including rooftops and unused urban spaces. Its space-saving nature makes it a viable option for densely populated areas. Moreover, the high crop yield achievable in a small space makes aquaponics an attractive answer to the escalating global food demand.

In addition to its practical advantages, aquaponics aligns with the shift towards sustainable practices. By minimizing water usage and eliminating the need for synthetic fertilizers, it contributes to conserving resources and promoting ecological balance. As the world increasingly recognizes the importance of sustainable agriculture, the demand for aquaponics is expected to grow on a global scale. Aquaponics offers a promising and sustainable approach to address the challenges posed by urbanization and population growth. Its ability to produce abundant crops in limited space, while conserving water and reducing reliance on arable land, positions it as a viable response to the constraints of traditional agriculture. As cities continue to expand, the demand for innovative farming techniques like aquaponics is likely to surge, ensuring a resilient and food-secure future.

Reduction of Food Miles & Carbon Footprint

Aquaponics has gained considerable attention worldwide as a sustainable and efficient method of food production. By integrating aquaculture with hydroponics, it reduces food miles and carbon footprint significantly, contributing to an anticipated growth in global demand. Food miles, the distance food travels from its source to the consumer, are drastically cut down in aquaponics as it enables local production even in urban settings. This not only ensures fresher produce but also lessens the reliance on fossil fuels for transportation, thereby reducing carbon emissions. Furthermore, aquaponics is a closed-loop system that recirculates water, minimizing wastage and reducing the stress on freshwater resources. It also eliminates the need for synthetic fertilisers, further decreasing its carbon footprint. As climate change and sustainability become more pressing issues, the benefits of aquaponics are increasingly recognized. Consequently, the demand for aquaponics is expected to rise globally, as it offers a solution that aligns food security with environmental sustainability. In an era where conscious consumption is gaining momentum, aquaponics stands as a promising approach to responsible and sustainable food production.

Increasing investment in R&D

The global landscape of aquaponics, an innovative system combining aquaculture and hydroponics, is projected to witness substantial growth fueled by increased investments in research and development (R&D). Intensified R&D efforts are critical as they foster the discovery of advanced techniques, innovative system designs, and efficient resource utilization strategies, enhancing the viability and appeal of aquaponics for potential adopters worldwide. Furthermore, such investments facilitate the development of customized solutions tailored to distinctive regional needs and climatic conditions, allowing for broader global adoption. Larger R&D investments also underscore the commitment to sustainability, food security, and responsible resource management, values that resonate with an increasingly environmentally conscious consumer base. As these values become more mainstream, the demand for sustainable food production methods like aquaponics is likely to rise. Besides, extensive R&D could lead to cost reductions, making aquaponics more accessible and appealing to a wider market segment. Therefore, escalating investment in R&D is expected to propel the global demand for aquaponics, establishing it as a key player in the future of sustainable agriculture.


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Key Market Challenges

High Cost of Initial Investments

The global demand for aquaponics, a sustainable method of raising both fish and vegetables, is likely to be negatively impacted by the high cost of initial investments. The setup of an aquaponic system involves substantial expenses, including that of purchasing or constructing the system, sourcing fish and plants, and ensuring a constant power supply for maintaining water temperature and air circulation. Additionally, the costs are not only financial but also temporal, as the system requires a significant initial time investment to learn, set up, and properly maintain. These costs can make the initial steps towards aquaponics daunting for potential adopters, particularly in developing nations where resources may be limited. This can result in a decreased demand for aquaponics on a global scale. However, it's important to note that while the initial investment may be high, the long-term benefits, such as reduced water usage, elimination of pesticides, and the potential for a closed-loop, self-sustaining system, can outweigh the startup costs. Therefore, initiatives that help reduce the upfront cost and learning curve of aquaponics could play a crucial role in driving its global adoption.

Lack Of a Specialized Skilled Workforce

The global adoption of aquaponics, a sustainable farming technique, may face obstacles due to the lack of a specialized skilled workforce. Aquaponics combines fish farming and plant cultivation, requiring expertise in both domains. However, many regions around the world lack the necessary knowledge and resources in these areas. The intricacies involved in maintaining optimal water quality, pH levels, nutrient balance, and fish health demand the expertise of trained professionals. Additionally, high-tech aquaponics systems require proficiency in managing complex machinery and software, skills that are not universally available in the agricultural workforce.

Furthermore, the relatively new field of aquaponics lacks educational programs that could foster a new generation of skilled workers. The scarcity of such programs hinders the development of a specialized workforce. As a result, the global demand for aquaponics may decrease until adequate training and education programs are established, and a specialized workforce is developed. Addressing these challenges and investing in comprehensive training and educational initiatives will be crucial to the widespread adoption of aquaponics and its potential to revolutionize sustainable farming practices worldwide.

Key Market Trends

Growing Popularity of Home-Based Aquaponics Systems

Aquaponics, an innovative method of cultivating plants and rearing fish in a symbiotic environment, has been gaining substantial traction in recent years, particularly in the realm of home-based systems. This trend is projected to significantly augment global demand for aquaponics. The reasons for this upswing in popularity are manifold. Firstly, home-based aquaponics systems offer an efficient solution for urban dwellers seeking to practice sustainable agriculture within limited spaces. Secondly, these systems, characterized by their water efficiency and minimal waste, align with increasing consumer awareness and commitment to environmental sustainability. They also present an opportunity for individuals to grow their food, ensuring it is fresh, organic, and free from harmful pesticides. Thirdly, the global COVID-19 pandemic has highlighted the vulnerabilities inherent in traditional food supply chains, bolstering interest in self-sufficiency, of which home-based aquaponics is an exemplar. As more people adopt these systems and propagate their advantages, the global demand for aquaponics is predicted to continue its upward trajectory in the foreseeable future.

High Yield Compared to Conventional Farming Methods

The global demand for aquaponics is projected to grow significantly, largely driven by the higher yields it offers compared to conventional farming methods. Aquaponics, an innovative method that combines hydroponics and aquaculture, presents an efficient and sustainable solution for food production. It utilizes a closed, symbiotic environment where plants and fish coexist, recycling the waste from fish as a nutrient source for plants. This harmonious relationship results in substantial yield increases, reducing the space, inputs, and time required for traditional farming. Furthermore, with an increasing global population and the rising need for sustainable farming practices, aquaponics provides an answer to food security concerns. Its environmentally friendly nature, requiring less water and producing fewer greenhouse gases, has also made it an attractive farming alternative, aligning with global initiatives toward sustainable development. Lastly, the ability to cultivate a wide variety of crops and fish species year-round in aquaponics systems further increases its appeal. In conclusion, the high-yield advantage of aquaponics over conventional farming methods is expected to stimulate its demand worldwide as we strive to meet increasing food demands in a sustainable manner.

Segmental Insights

Equipment Insights

Based on the Equipment, the pumps & valves segment held a significant revenue share in 2022 and is expected to continue its growth trajectory throughout the forecast period. Pumps play a vital role in the transportation of water within aquaponics systems, ensuring efficient water circulation, oxygenation, and nutrient supply to support the growth of plants and fish. The system employs various types of pumps, including submersible pumps and inline pumps, each tailored to meet specific requirements. In addition to pumps, valves are strategically installed within the system to regulate and control the water flow, optimizing the conditions for the thriving ecosystem. Valves enable precise adjustments and maintain the ideal balance necessary for the harmonious functioning of the aquaponics setup.

Shifting focus to the grow lights segment, it is anticipated to experience the fastest compound annual growth rate (CAGR) throughout the forecast period. Different plant species and fish varieties exhibit varying light preferences for optimal growth and development. Some plants thrive in low light conditions, while others necessitate timely exposure to specific light wavelengths for their average growth. To cater to these diverse lighting requirements, aquaponics systems can integrate LED grow lights, induction lights, high-intensity discharge lights, and fluorescent lights. These specialized grow lights facilitate year-round production of plants, ensuring consistent yield and enhanced growth rates of crops. By leveraging the benefits of a well-optimized pumps & valves system combined with the appropriate application of advanced grow lights, aquaponics enthusiasts can create a sustainable and highly productive environment where plants and fish thrive harmoniously, yielding abundant crops and contributing to a more sustainable future.

Application Insights

Based on the Application, the market is segmented into Commercial, Home food Method ion, Education & Research, and Others. The commercial application segment dominated in 2022, as commercial growers widely adopted aquaculture to produce a diverse range of vegetables and different breeds of fish. The dual production of fish and plants obtained in aquaculture is not only increasing the efficiency but also improving its adoption among commercial growers. Various types of fish, including tilapia, bass, trout, carp, catfish, koi, fingerlings, and different ornamental fishes, can be successfully reared in aquaculture, providing a wide selection for commercial growers to meet the market demands.

On the other hand, the Education & Research application segment is anticipated to register the fastest compound annual growth rate (CAGR) during the forecast period. Aquaponics systems have proven to be valuable tools for research and educational institutions in the fields of agriculture, horticulture, and plant biology. Research institutes rely on aquaponics systems to conduct experiments by precisely manipulating growing conditions such as temperature, humidity, light, and nutrient levels. The availability of in-house systems allows researchers to manipulate these factors and test hypotheses about the impact of different environmental conditions on plant growth, yield, and quality, providing valuable insights and knowledge for further advancements in the field.


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Regional Insights

North America emerged as the dominant market leader in 2022, driven by the presence of key industry players and the widespread adoption of controlled environment agriculture. The region's robust growth can also be attributed to the increasing awareness of sustainable farming practices and the growing demand for organic food, which has further fueled the adoption of aquaponics systems. To promote sustainable agriculture, support local food systems, and reduce the environmental impact of farming, the U.S. government has implemented various initiatives in indoor farming.

On the other hand, the Asia Pacific region is projected to exhibit the highest compound annual growth rate (CAGR) throughout the forecast period. This growth can be attributed to the strong government support for sustainable farming in agricultural countries like India, China, and Southeast Asian nations. The Indian government, for instance, provides subsidies of up to 50% under schemes such as the National Horticulture Mission (NHM), which primarily focuses on establishing vertical farms across the country. Additionally, state governments in India offer additional subsidies of 10-15% to encourage the implementation of modern agricultural technologies.

Recent Developments

  • In April 2021, Les Nouvelles Fermes, a France-based indoor farming company, successfully raised EUR 2 million (approximately USD 2.4 million) in its inaugural funding round. The investors included IRDI, the Banque des Territoires, Crédit Agricole Aquitaine, and the CIC. With this funding, the company aims to establish the largest aquaponic farm in Europe.
  • In 2019, Superior Fresh, a leading aquaponic produce supplier in the Midwest US, expanded its greenhouse footprint from 6 acres to 13 acres and its aquaculture center from 40,000 square feet to 100,000 square feet.
  • In 2019, Aerofarms formed a partnership with Dell Technologies to enhance its technological capabilities in machine learning and network systems. This collaboration equips AeroFarms with the necessary tools to implement data-driven machinery, leveraging insights on temperature, humidity, airflow, nutrients, light, water, and food safety.

Key Market Players

  • Nelson and Pade Inc.
  • Pentair Aquatic Eco-Systems, Inc.
  • ECF Farm systems GmbH
  • Backyard Aquaponics Pty Ltd.
  • AquaCal AutoPilot, Inc.
  • GrowUp Urban Farms Ltd.
  • The aquaponic manufaktur GmbH
  • NutraPonics Canada Corporation
  • Aponic Ltd.
  • Blueplanet Urban Agro Services Pvt Ltd.

 By Equipment

By Method

By Application

By Region

  • Pumps & Valves
  • Grow Lights
  • Water Heaters
  • Water Quality Testing
  • Fish Purge Systems
  • Aeration System
  • Media Based
  • Nutrient Film Technique [NFT]
  • Deep-Water Culture
  • Commercial
  • Home food Method ion
  • Education & Research
  • Others
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa
Report Scope:

In this report, the Global Aquaponics Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Aquaponics Market, By Equipment:

o   Pumps & Valves

o   Grow Lights

o   Water Heaters

o   Water Quality Testing

o   Fish Purge Systems

o   Aeration System

  • Aquaponics Market, By Method:

o   Media Based

o   Nutrient Film Technique [NFT]

o   Deep-Water Culture

  • Aquaponics Market, By Application:

o   Commercial

o   Home food Method ion

o   Education & Research

o   Others

  • Aquaponics Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Kuwait

§  Turkey

§  Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Aquaponics Market.

Available Customizations:

Global Aquaponics market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Aquaponics Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validations

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Voice of Customer

5.    Global Aquaponics Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Equipment (Pumps & Valves, Grow Lights, Water Heaters, Water Quality Testing, Fish Purge Systems and Aeration System)

5.2.2.    By Method (Media Based, Nutrient Film Technique [NFT] and Deep-Water Culture)

5.2.3.    By Application (Commercial, Home food Method ion, Education & Research and Others)

5.2.4.    By Region

5.2.5.    By Company (2022)

5.3.  Market Map

6.    North America Aquaponics Market Outlook

6.1.  Market Size & Forecast       

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Equipment

6.2.2.    By Method

6.2.3.    By Application

6.2.4.    By Country

6.3.  North America: Country Analysis

6.3.1.    United States Aquaponics Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Equipment

6.3.1.2.2.           By Method

6.3.1.2.3.           By Application

6.3.2.    Canada Aquaponics Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Equipment

6.3.2.2.2.           By Method

6.3.2.2.3.           By Application

6.3.3.    Mexico Aquaponics Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Equipment

6.3.3.2.2.           By Method

6.3.3.2.3.           By Application

7.    Europe Aquaponics Market Outlook

7.1.  Market Size & Forecast       

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Equipment

7.2.2.    By Method

7.2.3.    By Application

7.2.4.    By Country

7.3.  Europe: Country Analysis

7.3.1.    Germany Aquaponics Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Equipment

7.3.1.2.2.           By Method

7.3.1.2.3.           By Application

7.3.2.    United Kingdom Aquaponics Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Equipment

7.3.2.2.2.           By Method

7.3.2.2.3.           By Application

7.3.3.    Italy Aquaponics Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value

7.3.3.2.        Market Share & Forecasty

7.3.3.2.1.           By Equipment

7.3.3.2.2.           By Method

7.3.3.2.3.           By Application

7.3.4.    France Aquaponics Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Equipment

7.3.4.2.2.           By Method

7.3.4.2.3.           By Application

7.3.5.    Spain Aquaponics Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Equipment

7.3.5.2.2.           By Method

7.3.5.2.3.           By Application

8.    Asia-Pacific Aquaponics Market Outlook

8.1.  Market Size & Forecast       

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Equipment

8.2.2.    By Method

8.2.3.    By Application

8.2.4.    By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.    China Aquaponics Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Equipment

8.3.1.2.2.           By Method

8.3.1.2.3.           By Application

8.3.2.    India Aquaponics Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Equipment

8.3.2.2.2.           By Method

8.3.2.2.3.           By Application

8.3.3.    Japan Aquaponics Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Equipment

8.3.3.2.2.           By Method

8.3.3.2.3.           By Application

8.3.4.    South Korea Aquaponics Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Equipment

8.3.4.2.2.           By Method

8.3.4.2.3.           By Application

8.3.5.    Australia Aquaponics Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Equipment

8.3.5.2.2.           By Method

8.3.5.2.3.           By Application

9.    South America Aquaponics Market Outlook

9.1.  Market Size & Forecast       

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Equipment

9.2.2.    By Method

9.2.3.    By Application

9.2.4.    By Country

9.3.  South America: Country Analysis

9.3.1.    Brazil Aquaponics Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Equipment

9.3.1.2.2.           By Method

9.3.1.2.3.           By Application

9.3.2.    Argentina Aquaponics Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Equipment

9.3.2.2.2.           By Method

9.3.2.2.3.           By Application

9.3.3.    Colombia Aquaponics Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Equipment

9.3.3.2.2.           By Method

9.3.3.2.3.           By Application

10. Middle East and Africa Aquaponics Market Outlook

10.1.             Market Size & Forecast        

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Equipment

10.2.2. By Method

10.2.3. By Application

10.2.4. By Country

10.3.             MEA: Country Analysis

10.3.1. South Africa Aquaponics Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Equipment

10.3.1.2.2.         By Method

10.3.1.2.3.         By Application

10.3.2. Saudi Arabia Aquaponics Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Equipment

10.3.2.2.2.         By Method

10.3.2.2.3.         By Application

10.3.3. UAE Aquaponics Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Equipment

10.3.3.2.2.         By Method

10.3.3.2.3.         By Application

10.4.             Drivers

10.5.             Challenges

11. Market Trends & Developments

11.1.             Recent Development

11.2.             Mergers & Acquisitions

11.3.             Product Launches

12. Global Aquaponics Market: SWOT Analysis

13. Porter’s Five Forces Analysis

13.1.             Competition in the Industry

13.2.             Potential of New Entrants

13.3.             Power of Suppliers

13.4.             Power of Customers

13.5.             Threat of Substitute Products

14. Competitive Landscape

14.1.             Nelson and Pade Inc.

14.1.1. Business Overview

14.1.2. Service Offerings

14.1.3. Recent Developments

14.1.4. Key Personnel

14.1.5. SWOT Analysis

14.2.             Pentair Aquatic Eco-Systems, Inc.

14.3.             ECF Farm systems GmbH

14.4.             Backyard Aquaponics Pty Ltd.

14.5.             AquaCal AutoPilot, Inc.

14.6.             GrowUp Urban Farms Ltd.

14.7.             The aquaponic manufaktur GmbH

14.8.             NutraPonics Canada Corporation

14.9.             Aponic Ltd.

14.10.          Blueplanet Urban Agro Services Pvt Ltd.

15. Strategic Recommendations

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Aquaponics Market was estimated to be USD 1.43 Billion in 2022.

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The commercial segment is dominating the Global Aquaponics Market largely due to the surging need for organic fruits and vegetables, coupled with the growing health consciousness among consumers. Commercial entities are leveraging aquaponic systems to cultivate organic produce at a larger scale. Moreover, the increasing support from various governments for sustainable and environment-friendly farming methods is further propelling the growth of the commercial segment in the Global Aquaponics Market.

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North America dominated the market in 2022, driven by key players and the widespread use of controlled environment agriculture. The region's adoption of aquaponics systems is fueled by growing awareness of sustainable farming and the demand for organic food. The U.S. government's indoor farming initiatives promote sustainable agriculture, local food systems, and environmental conservation.

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Growing urban population leading to space constraints for traditional agriculture and reduction of food miles & carbon footprint are the major drivers for the Global Aquaponics Market.

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Sakshi Bajaal

Business Consultant
Press Release

Aquaponics Market to Grow with a CAGR of 8.60% through 2028

Nov, 2023

Growing popularity of home-based aquaponics systems and high yield compared to conventional farming methods is expected to drive the Global Aquaponics Market growth in the forecast period, 2024-2028.