Newly released data from Aquaponics Market Analysis shows that global demand for aquaponics enjoyed year-on-year (YoY) growth of 8.0% in 2022 and is estimated to be USD 1.5 Bn in 2022 and is expected to witness a prominent growth rate of 8.3% to reach the value of USD 3.3 Bn by 2032.
According to FMI analysis, Nelson & Pade Aquaponics, Practical Aquaponics, Aquaponics USA, The Aquaponic Source, Pentair Aquatic Eco-System, Inc. Are identified as key Aquaponics brands.
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Small-scale farming is expanding to include aquaponics, a crucial breakthrough. Farmers can successfully use aquaponics technology in a business model as a cost-cutting and revenue-generating technique, especially during the hot, humid summer months. Aquaponics is a closed-loop water-circulation system that combines fish aquaculture and vegetable cultivation. This not only saves a lot of water but also boosts crop productivity during periods of extreme drought.
The aquaponics business is expected to develop due to its economic and ecological benefits. Because natural produce is devoid of pesticides and fertilisers, expenditures in aquaponic operations, particularly on a commercially huge scale, are expanding due to increased urban agriculture and growth in the market for organic food.
Furthermore, the increasing population and growing preference for off-seasoning fruits and veggies are increasing the consumption of aquaponics systems to nurture the plant sustainably and organically without using toxic pesticides. Because of the cost advantages of the aquaponic system, the industry will rise in the next years due to rising fish consumption.
Impact of Covid-19 on Global Aquaponics Market
The Coronavirus pandemic had an impact on every business throughout the globe. The pandemic seems to have had a significant impact on the aquaponic industry, as covid-19 has caused supply chain disruptions in agriculture and allied businesses.
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Key Companies Profiled
- Nelson & Pade Aquaponics
- Practical Aquaponics
- Aquaponics USA
- The Aquaponic Source
- Pentair Aquatic Eco-System, Inc.
Market Segments Covered In Aquaponics Market Analysis
By Type :
- Media Filled Growbeds (MFG)
- Nutrient Film Technique (NFT)
- Deep Water Culture (DWC)
By Component :
- Bio Filter
- Settling Basins
- Fish tanks
- Soil-free plant bed
- Rearing Tanks
- Aquaponic Produce
By Equipment :
- Pumps and Valves
- Water Heaters
- Fish Purge Systems
- Aeration Systems
- Water Quality Testing
By Applications :
By End-User :
- Home Production
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
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Key Questions Answered in the Report
- How much is the current worth of the aquaponics market?
Currently aquaponics market is worth more than USD 1.5 Bn.
- At what CAGR is the market expected to grow?
Aquaponics market consumption is expected to grow at a CAGR of around 8.3% during the period 2022-2032.
- What is the demand outlook forecast for the Aquaponics market?
The global Aquaponics market is forecasted to surpass USD 3.3 Bn by the end of 2032.
- Who are the top 5 players operating in the market?
Nelson & Pade Aquaponics, Practical Aquaponics, Aquaponics USA, The Aquaponic Source, Pentair Aquatic Eco-System, Inc. are expected to be the top players driving the market growth.
- How are market players reacting to the new developments in the market?
Market players are focusing on new product launches, Aquaponics distribution channels, merger and acquisition strategies to remain a prominent player in the global market.
- Which are the major countries driving demand for Aquaponics?
The U.S., Germany, U.K, are the major countries driving demand for Aquaponics.
- At what rate will the U.S. Aquaponics market grow?
The U.S. aquaponics market is projected to grow at a CAGR of around 19% over the next ten years.
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