Aquaponics Market Size, Competitive Landscape and Market Forecast - 2029
Global Aquaponics Market is segmented By Technique (Raft, Nutrient Film Technique, Media-based aquaponics, Vertical aquaponics, Others), Application-based Analysis (Commercial, Residential, Research institutes, Agriculture), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
Market Overview
The Global Aquaponics Market is expected to grow at a high CAGR during the forecasting period (2022-2029).
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Aquaponics is a sustainable hybrid growing technology method of producing both fish and vegetables together in a single system. In this technology, water is exchanged between plants and aquaculture tanks so that the recirculating water is beneficial for both plants and fishes growth.
Aquaponics Market Dynamics
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Aquaponics technique helps in consuming less water and land resources over the traditional way of growing crops. Moreover, this methodology helps in reducing the harvest time than the plants grown frequently.
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The advantages associated with this technique will help the market to achieve sustainable growth shortly.
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Aquaponics has traditionally been practiced with small scale farming operations.
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However, major academic and research organizations are actively carrying out investing in developing technologies for commercial use.
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Large scale aquaponics is still early stage, but growing resource constraints are initiating the adoption of this agricultural solution. Aquaponics farms are getting started across the globe.
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Aquaponics process consumes less water while providing food security. Hence this technique is well suited at places where there is poor availability of natural resources such as in deserts, arid areas; sandy islands and urban gardens.
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There is an anticipation that a small pilot-scale aquaponics project across the countries will likely to provide a base in transforming to significant projects.
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The ecological, environmental and economic benefits associated with aquaponics technology will become likely to support the market to grow at an above-average growth.
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Recent developments in the aquaponics industry market dynamics are in December 2018 Superior new drive, which is Chicago based company has recently doubled in size to 250,000 square feet.
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According to the Minnesota Department of Employment and Economic Development, there are now 40 aquaponics facilities in the state.
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The expanding aquaponics farming area of the companies followed by the growing number of facility showcases the positive growth of the aquaponics industry.
Aquaponics Market Segmentation Analysis
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Aquaponics Market is segmented by its technique such as Raft, Nutrient Film Technique, Media-based aquaponics, Vertical aquaponics, and Others.
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Currently, there are three primary aquaponic methods emerging in the industry namely raft, NFT, and media-filled beds. In the raft system, plants float on to the surface of the water allowing the roots to hang down into the water. This process is also known as float, deep channel, and deep flow technique
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In this method plants are grown on polystyrene boards (rafts) that float on top of the water. Most often, this is in a tank separate from the fish tank. Water flows continuously from the fish tank, through filtration components, through the raft tank where the plants are grown and then back to the fish tank.
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Raft technique can be implemented by floating a foam raft on top of the fish tank. However, the most common method is to grow the fish in a fish tank and pump the water through a filtration system.
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This technique is one of the most commonly practiced commercial methods which is very well adapted in large and profitable scale aquaponics culture — owing to the low maintenance benefits and scalability to grow fishes to any range.
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Whereas, Nutrient Film Technique is a commonly used hydroponic method, but is not as common in aquaponic systems. In NFT systems, plants are grown in long narrow channels in which a thin film of water continuously flows down each channel providing the plant roots with water, nutrients, and oxygen.
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NFT is only really suitable for certain types of plants, generally leafy green vegetables, larger plants will have root systems that are too big and invasive, or they become too heavy for the lightweight growing gutters.
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A media-filled bed system uses a tank or container that is filled with gravel, perlite or other media for the plant bed.
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This bed is periodically flooded with water from the fish tank. This method uses fewest components and no additional filtration, making it simple to operate.
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The production is, however, much lower than the two methods described above. The media-filled bed is often used for hobby applications where maximizing production is not a goal.
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Drip Irrigation method, vertical aquaponics, Ebb and Flow system are other methods used in Aquaponics
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Since this technique is new, and still in the market penetration stage. The farmers and companies have just started commercializing in Small and medium range commercial projects. Commercial aquaponics is not appropriate in all locations, and many aquaponic businesses have not been successful.
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Large-scale systems require careful consideration before financial investment, especially the availability and affordability of inputs that is fish feed, buildings and plumbing supplies, the cost and reliability of electricity, and direct access to a significant market willing to pay premium prices for local pesticide-free vegetables.
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Aquaponics combines the risks of both aquaculture and hydroponics, and thus expert assessment and consultation are essential. However, still extensive research is being carried away to make it fully commercialize.
Aquaponics Market Geographical Share
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Large scale small Aquaponics projects have been started in parts of the US, Canada. Few major projects are taking place in China
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Penetration of aquaponics into developing countries will take time since aquaponics and hydroponics are complex systems they require prior knowledge and equipment that might not be available in developing countries.
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Aquaponics has been successful in Australia and is becoming more widely expanding in America. Despite hydroponics well suited to Middle East countries, however, very few known aquaponics developments currently exist in the region.
Aquaponics Market Competitive Trends
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Acquiring major contract deals from consumers is one of the key strategies adopted by leading players to enhance their presence with a global aquaponics market.
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For instance, in Jun 2017 ECF Farmsystems received a significant contract from the company Building Integrated Greenhouses (BIG) to construct an urban aquaponics roof farm in Brussel, Europe.
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Moreover, it is anticipated that BIG will likely to hand over a few more projects to ECF Farmsystems to build more aquaponics farms in Belgium, France, Italy, and Luxembourg in the coming years.
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To stay ahead in the market, aquaponics infrastructure providers are enhancing their product range such as in
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Feb 2016 ECF Farmsystems successfully launched one of the largest aquaponics roof systems in Switzerland for one of its customers.
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The recent product launches, developments, and expansions showcase the growth in the aquaponics industry.
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The key players in this market are highly aiming at geographic expansions to cater to a significant market share.
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Moreover, they are coming up with a variety of products to widen their product offerings. Also, strategic acquisitions and mergers are among the developments undergone by the key players which strengthen their future opportunities and these developments overall assist the growth of aquaponics market worldwide.
Key players in this market that have been studied for this report include
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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 aquaponic manufaktur GmbH, ultrasonics Canada Corporation.