Aquaponics Market Research Future Insights
According to MRFR analysis, the global Aquaponics Market is expected to register a CAGR of ~ 14.1% from 2022 to 2030 and hold a value of over USD 2,464.29 Million by 2030.
Aquaponic is a small but rapidly rising industry in the region, with numerous partnerships among educational and research institutions and private firms. This factor played an essential role in establishing and growing awareness about aquaponic farms. However, mass-scale production of aquaponic crops is yet to take form in the region, although farms such as Superior Fresh and Ouroboros Farms are at the forefront of commercial aquaponics production.
The COVID-19 pandemic majorly obstructed the supply chain of the aquaponics market. Supply chain disturbances amid the pandemic led farmers to rear many live fishes and other aquatic species, which damagingly impacted the farmers’ cost, expenditure, and risk
Regional Analysis
The largest market share in the aquaponics market all across the globe is held by the North American region due to the growing adaption of modern techniques in farming coupled with increasing demand for organic food.
The second-largest market share in the aquaponics market is held by the Asia-Pacific region due to constant ongoing technological advancements. Moreover, the growing demand for higher productivity in farming in countries like China and India drives the market.
The third-largest market share in the aquaponics market is held by the European region due to the existence of well-established infrastructure. Moreover, the acceptance of easy technical operations coupled with an upsurge in per capita income.
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Market Segmentation
The Global Aquaponics Market has been segmented into produce, equipment, component, and application
Based on the produce, The Global Aquaponics Market has been segmented into fruits and vegetables, fish, and others.
Based on the Equipment, The Global Aquaponics Market has been segmented into aeration systems, fish purge systems, water quality testing, water heaters, grow lights, pumps and valves, and others.
Based on the Component, The Global Aquaponics Market has been segmented into sump tanks, bio-filters, settling basins, rearing tanks, and others.
Based on the Application, The Global Aquaponics Market has been segmented into home food products applications, commercial applications, and others.
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Key Players
Some of the key market players are Japan Aquaponics (Japan), Pentair Aquatic Eco-systems Inc. (US), NutraPonics Canada Corporation (Canada), Lucky Clays Fresh (US), Hapa Farms (US), My Aquaponics (South Africa), ECF Farmsystems GmbH (Germany), Red Ewald Inc. (US), Aponic Ltd (UK), Ichthys Aquaponics (South Africa), Nelson & Pade Inc. (US), Urban Farms AG (Switzerland), Greenlife Aquaponics (US), and Colorado Aquaponics (US)
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