REDDING,
Calif., Aug. 5, 2024 /PRNewswire/
-- According to a new market research report titled,
'Aquaponics Market Size, Share, Forecast, &
Trends Analysis by System (Nutrient Film Technique, Raft System),
Equipment (Grow Lights, Pumps), Facility Type (Glass Greenhouses),
Product Type (Fish, Vegetables, Fruits), Application -
Global Forecast to 2031,' the aquaponics market is expected to
reach $2.74 billion by 2031, at a
CAGR of 13.7% from 2024 to 2031.
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Aquaponics is an integrated closed-loop multi-trophic food
production system that combines elements of a recirculating
aquaculture system (RAS) and hydroponics. Aquaponics is a
sustainable method to grow food, using less water and land than
traditional methods. Aquaponics has recently generated significant
attention for recovering resources (vegetables/fruits) from
aquaculture effluent. Aquaponics produces organic vegetables by
recycling nutrients in aquaculture effluent under a symbiotic
environment among fish, plants, and bacteria. Additionally, the
increasing requirement for organic food is expected to boost the
demand for aquaponics.
The growth of this market is driven by advancements in urban
farming methods, a surge in fish consumption, increasing demand for
organic fruits & vegetables, decreasing arable land, and
changing climatic conditions.
Moreover, the increasing adoption of aquaponic systems in
offices and restaurants and the rising need for sustainable
agricultural practices are expected to create market growth
opportunities. However, the high initial costs and demanding
management requirements are some of the challenges impacting the
market's growth.
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The aquaponics market study presents historical market data in
terms of value (2022 and 2023), estimated current data (2024), and
forecasts for 2031. This market is segmented by system, equipment,
facility type, product type, application, and geography.
Based on system, the aquaponics market is segmented into
media-based aquaponics system, nutrient film technique, raft
system, and other aquaponics systems. In 2024, the media-based
aquaponics system segment is expected to account for the largest
share of 39.9% of the aquaponics market. The large market
share of this segment can be attributed to their versatility, ease
of implementation, and capability to support a wide variety of
plant species. These systems offer a balanced approach by
integrating aquaculture and hydroponics, making them highly popular
among commercial practitioners.
Based on equipment, the aquaponics market is segmented into grow
lights, pumps and valves, fish purge systems, in-line water
heaters, aeration systems, and other equipment. In 2024, the grow
lights segment is expected to account for the largest share of the
aquaponics market. This segment's large market share can be
attributed to the growing adoption of grow lights in indoor farming
and the increasing trend towards environmentally friendly
production of fruits and vegetables. Grow lights play a crucial
role in indoor farming by providing essential light for plant
photosynthesis. Moreover, increasing awareness of alternative
farming methods, driven by declining arable land and a growing
population, is expected to drive the demand for grow lights.
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Based on facility type, the aquaponics market is segmented into
poly or glass greenhouses, indoor vertical farms, and other
facility types. In 2024, the poly or glass greenhouses segment
is expected to account for the largest share of the aquaponics
market. The large market share of this segment can be attributed to
the benefits offered by poly or glass greenhouses, such as
maintaining a controlled environment, providing excellent
insulation, reducing heat loss, and offering enhanced stability
& durability in extreme weather conditions.
Based on product type, the aquaponics market is segmented into
fish, vegetables, herbs, and fruits. In 2024, the fish segment
is expected to account for the largest share of the aquaponics
market. The large market share of this segment can be attributed to
rapid population growth, a growing consumer preference for
pescetarianism, and increasing awareness about the health benefits
associated with seafood consumption. Additionally, the increasing
demand for protein-rich diets as an alternative to high-calorie
food products further drives the demand for fish in aquaponics
systems.
Based on application, the aquaponics market is segmented into
commercial, home production, and other applications. In 2024, the
commercial segment is expected to account for the largest share of
46.0% of the aquaponics market. This segment's large
market share can be attributed to the increasing demand for organic
food products within local markets and the need to reduce
production costs while enhancing farming profitability.
Based on geography, in 2024, North
America is expected to account for the largest share of
41.1% of the aquaponics market, followed by
Europe and Asia-Pacific. The aquaponics market in
North America is expected to reach
$459.0 million in 2024.
North America's significant market
share can be attributed to rapid population growth, rising demand
for organic products, advancements in urban farming methods,
increasing consumer health awareness, and technological innovations
in agricultural practices.
However, the market in Asia-Pacific is projected to register the
highest growth rate of 16.3% during the forecast period.
Technological advancements and the growing demand for increased
agricultural productivity in countries like China and India drive the growth of this regional
market.
The key players operating in the aquaponics market are
Pentair Aquatic Eco-System, Inc. (U.S.), Nelson and Pade, Inc.
(U.S.), Aquaponics USA (U.S.),
Greenlife Aquaponics (U.S.), The Aquaponic Source, Inc. (U.S.),
Symbiotic Aquaponic LLC (U.S.), Practical Aquaponics (Australia), ECF Farmsystems GmbH (Germany), MyAquaponics PTY Ltd (South Africa), AquaCal AutoPilot, Inc (U.S.),
and Afraponix ltd (South
Africa).
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Scope of the Report:
Aquaponics Market Assessment—by
System
- Media-based Aquaponics System
- Nutrient Film Technique
- Raft System
- Other Aquaponics Systems
Aquaponics Market Assessment—by
Equipment
- Grow Lights
- Pumps and Valves
- Fish Purge Systems
- In-line Water Heaters
- Aeration System
- Other Equipment
Aquaponics Market Assessment—by Facility
Type
- Poly or Glass Greenhouses
- Indoor Vertical Farms
- Other Facility Types
Aquaponics Market Assessment—by Product
Type
- Fish
- Tilapia
- Catfish
- Carp
- Trout
- Ornamental Fish
- Other Fish Types
- Vegetables
- Herbs
- Fruits
Aquaponics Market Assessment—by
Application
- Commercial
- Home Production
- Other Applications
Aquaponics Market Assessment—by
Geography
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
(RoE)
- Asia-Pacific (APAC)
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
(RoAPAC)
- Latin America
(LATAM)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
(RoLATAM)
- Middle East & Africa (MEA)
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Related Reports:
Aquaponics Market by Equipment (Grow Lights, Pumps, and Valves,
Fish Purge Systems, Aeration System), Product Type (Fish,
Vegetables, Herbs, Fruit), Application (Commercial, Home
Production), and Geography - Global Forecast to 2025
Hydroponics Market by Type (Aggregate System, Non-aggregate
System), Equipment (HVAC System, LED Grow Lights, Irrigation
System, Control System, Material Handling), Input (Nutrients,
Growth Media), Crop Type (Vegetables, Fruits)—Global Forecast to
2030
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