DUBLIN--(BUSINESS WIRE)--The "Aquaponics Market - Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
Association of organic commodities consumption with wellness is taking the consumer products arcade towards epidemic innovations. As per the U.S Department of Agriculture, organic food sales have increased by 20% annually, and has surpassed the $10 billion mark in 2003, up from merely $3 billion in 1997. Owing to such trends, the global aquaponics market size is valued at $580 million - $630 million as of 2020, as per the findings of this business intelligence report. The report forecasts the demand to grow at CAGR of 14.5% -15.5% going through to 2025.
Aquaponics basically combines orthodox aquaculture with hydroponics (cultivating plants in water) in a symbiotic environment. In this organic setting excretions from the aquatic-animals (snails, fish, crayfish or prawns) are procured by hydroponic system which acts like a settling basin, the by-products breaks down as nitrites and nitrates and are utilized by the plants as nutrients. The whole process in return filters the water for aquaculture, hence it is beneficial for plants and organisms in the process as well.
As per an acute analysis of the aquaponics market regional aspects, growing uptake has propelled the North America region to hold a major 42.0%- 45.0% of the global aquaponics market size under its own territory as of 2020. Aquaponics requires minimal aquatic space for farming herbs, fruits, vegetables, which contributes highly towards market growth. Since the produce is free of pesticides and herbicides, fruits and vegetables produce type leads the segment and is progressing with a CAGR of 14.5% - 15.5% during the forecast period of 2020 to 2025.
Market Dynamics
Growth Drivers
- Aquaponics utilizes least aquatic space for husbandry of vegetables, which contributes highly towards its market traffic. This is an imperative facet for aquaponics salability as arable lands are shrinking owing to rapid urbanization and industrialization. According to Nelson and Pade, a USA based company, aquaponics produces eight times more food per acre in 1/6th of the space required by traditional agriculture Such economic and ecological aspects are forecast to stroke the market with abundant demand.
- Organic produce acquired from aquaponics culture is free from any pesticides or fertilizers. The World Bank's Fertilizer Price Index observed a rise of 9% in 2020 and is expected to rise 2% in 2020. Fish waste acts as natural fertilizers for the vegetables that grow inside the water solvent thus curbing fertilizers expense. This whole process refrains from the employment of any expensive farm equipment, agricultural machinery and fertilizers. These characteristics make aquaponics market highly profitable owing to the economic efficiency and environment sustainability that it offers.
Market Challenges:
- Sustainable Agricultural practices like hydroponics, vertical farming, and organic arable farming are witnessing growth from the past few years with the increased adoption of sustainable practices. This could be a challenge that could hinder the growth of the Aquaponics market. But tracing the investments (The World Bank Group is a leading financier of agriculture, with US$ 6.8 billion in new IBRD/IDA commitments in 2020) made globally into agricultural domains to feed billion of individuals, this ecological and organic arcade displays all the operational caliber to divert a huge chunk of investments into its revenue pockets defeating its competitors.
Market Trends:
- The Aquaponics Source concentrates in the development of aquaponics culture. They farm floras, and faunas in a recirculating ecosystem' that promotes perpetual aquatic symbiosis with maximum profits and returns. In 2016, the company relocated from Longmont to Boulder in Colorado to exploit its production and distribution operational facilities. 98% of their revenue generates from E-commerce websites, implying the aquaponics market to be directly proportional to the blooming urban population. The Company has made a name for itself in the aquaponics market by also offering education in the similar domain to the general public. One of their most popular school systems is the 60 Gallon Mobile Aquaponics System which has settings to display on wheels for mobility, making public demonstrations easier.
Companies Analysed
- 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 aquaponik manufaktur GmbH
- NutraPonics Canada Corporation
For more information about this report visit https://www.researchandmarkets.com/r/8bnj2p
