Demand for Global Aquaponics Market Size & Share Worth USD 1807.29 Million by 2028, Exhibit a CAGR of 12.9% Growth | Aquaponics Industry Analysis, Trends, Value, Analysis & Forecast Report by Zion Market Research
Zion Market Research published the latest report titled as "Aquaponics Market By Type (Media Filled Growbeds (MFG), Nutrient Film Technique (NFT), Deep Water Culture (DWC), and Others), By Component ( Bio Filter, Settling Basins, Fish tanks, Soil-free plant beds, Rearing Tanks, Aquaponic Produce, and Others), By Equipment (Pumps and Valves, Water Heaters, Fish Purge Systems, Aeration Systems, Water Quality Testing, and Others), By Application (Fish, Herbs, Fruits, and Vegetables), By End-User (Commercial, Home Production, and Research) and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028"into their research database.
Aquaponics Market: Overview
Aquaponics is a food-production method that combines aquaculture (the breeding of aquatic animals in tanks) and hydroponics (the growing of plants in water), in which nutrient-rich aquaculture water is delivered to hydroponically grown plants, where nitrifying bacteria convert ammonia to nitrates. Because all aquaponic systems are based on contemporary hydroponic and aquaculture farming techniques, the size, complexity, and types of foods grown in an aquaponic system can differ just as much as any other system found in a different agricultural field.
Because aquaponics is free of artificial fertilizers and crop protection chemicals, and fish waste serves as the principal nutrition for plants, the demand for organically grown crops has huge potential and an unexplored market for emerging aquaponic farms and aquaponic system vendors.
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Industry Dynamics:
Aquaponics Market: Growth Dynamics
Drivers: Free from any interference of harmful fertilizers or pesticides.
There are no toxic fertilizers or pesticides present in the aquaponics culture's produce. The World Bank's Fertilizer Price Index is forecasting an upward trend. The fish waster, which grows in water solvents, is a wonderful natural fertilizer for these veggies. This also helps to cut down on the costs of using fertilizers in large-scale production. Furthermore, no expensive equipment is used, implying that the market is profitable in the long run.
Restraints: Competition from hydroponics and vertical farming.
Agricultural techniques such as hydroponics and vertical farming are causing a surge in the use of sustainable agricultural methods. This is offering a significant hurdle to the market's expected growth over the forecast period, which ends in 2028.
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Global Aquaponics Market: Segmentation
By Application, the global market is classified into Fish, Herbs, Fruits, and Vegetables. Fish has the largest market share and is expected to grow at the fastest rate over the projected period. The need for this segment is being driven by reasons such as rising global population, changing lifestyles, and increasing seafood demand for human consumption.
By Equipment, the global market is classified into Pumps and Valves, Water Heaters, Fish Purge Systems, Aeration Systems, Water Quality Testing, and Others. During the projected period, the others (grow lights for plants) category will have the biggest market share. The demand for this category is being accelerated by factors such as growing indoor farming and increasing utilization of grow lights in indoor farming.
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Recent Developments
Regional Dominance:
Because of the increasing use of modern farming techniques and the growing demand for organic food, the North American area has the largest market share in the worldwide aquaponics industry. The Asia-Pacific region has the second-largest market share in the aquaponics industry, thanks to ongoing technological advancements. Furthermore, increased demand for improved agricultural productivity in countries such as China and India drives the business. The European region has the third-largest market share in the aquaponics market due to the presence of a well-established infrastructure. Furthermore, easy technical process adoption was followed by an increase in per capita income. Due to rising demand for low operating costs combined with high yields, the aquaponics industry is expanding in Latin America, the Middle East, and Africa.
Global Aquaponics Market is segmented as follows:
Aquaponics Market: By Type Outlook (2022-2028)
Aquaponics Market: By Component Outlook (2022-2028)
Aquaponics Market: By Equipment Outlook (2022-2028)
Aquaponics Market: By Applications Outlook (2022-2028)
Aquaponics Market: By End-User Outlook (2022-2028)
Aquaponics Market: By Region Outlook (2022-2028)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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