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Aquaponics Market Overview
The aquaponics market will likely witness increasing demand, uptake, and colossal growth. Growing demand for food, led by the ever-increasing population worldwide, creates a vast demand for aquaponics and increases its adoption. Market Research Future (MRFR) asserts that the global aquaponics market is poised to garner USD 2,464.29 MN by 2030, growing at 13.4% throughout the review period (2022–2030).
Aquaponics is a new farming method combining a hydroponics setup with an additional fish tank to breed fish. Hydroponics is the plant culture raised in a soil-less environment, while the method of fish hatching in a closed environment is known as aquaculture. The relationship between the fish and plants benefits the environment. It is like imitating the river ecology.
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Through the fish tank, water is regulated throughout small tanks that hold plants. The fish excrement decomposed by bacteria into nitrate is an ideal fertilizer for plants. In addition to nitrates produced by fish waste, iron nails, lime, and egg shells are added to boost iron and calcium nutrients in the media. The biggest advantage of this method is growing organic food without soil in less space. Also, there is no need to fertilize the plants individually.
Interestingly, aquaponics farming saves 80% of the water consumption. Farmers can also harvest additional income by breeding and selling edible fish other than vegetables. Besides, the augmenting demand for enhanced crop productivity boosts the aquaponics market growth globally.
Global Aquaponics Market?—?Segments
The report is segmented into produce, components, equipment, applications, and regions. The produce segment is sub-segmented into fish, fruits, vegetables, and others. The component segment is sub-segmented into rearing tanks, settling basins, bio-filters, sump tanks, and others.
The equipment segment is sub-segmented into pumps & valves, grow lights, water heaters, water quality testing, fish purge systems, aeration systems, and others. The application segment is sub-segmented into commercial, home food production, and others. By region, the aquaponics market is segmented into North America, Europe, APAC, and the rest of the world.
Global Aquaponics Market?—?Regional Analysis
North America dominates the global aquaponics market. The increasing adaption of modern farming techniques and demand for organic food substantiate the aquaponics market size. Besides, the growing horticulture and aquaculture sector boosts the aquaponics market revenues. Also, the growing trend of hydroponic and vertical farming accelerates the region’s aquaponics market shares.
Global Aquaponics Market?—?Competitive Analysis
The aquaponics market appears highly competitive, with the presence of several large and small players. Emphasizing new product development initiatives and geographical expansion, producers compete based on price and brand reinforcement. Well-established players incorporate acquisition, collaboration, partnership, expansion, and technology launches to gain a competitive advantage.
Key Players
Leading aquaponics market players include Pentair Aquatic Eco-systems Inc. (US), Japan Aquaponics (Japan), NutraPonics Canada Corporation (Canada), Hapa Farms (US), Lucky Clays Fresh (US), My Aquaponics (South Africa), Red Ewald Inc. (US), ECF Farmsystems GmbH (Germany), Aponic Ltd (UK), Nelson & Pade Inc. (US), Ichthys Aquaponics (South Africa), Urban Farms AG (Switzerland), Colorado Aquaponics (US), Greenlife Aquaponics (US), and Backyard Aquaponics Pty Ltd. (Australia), among others.
Browse In-depth Market Research Report (110 Pages, Charts, Tables, Figures) Aquaponics Market Report: https://www.marketresearchfuture.com/reports/aquaponics-market-2257
Industry/ Innovation/ Related News:
Jul. 13, 2023?—?Nelson and Pade, Inc. (the US), a leading aquaponic systems and training & support provider, launched its new aquaponics system to assist people in getting started in aquaponic farming.
The base price of this system is significantly less than before, comprising the essential & hard-to-find system components and detailed assembly &operation manuals. Its flexibility creates a money-saving platform for each customer to excel and save, relying on proven system designs and guidance.
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