Meticulous Research®– leading global market research company published a research report titled “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”.
According to this latest publication from Meticulous Research®, the global aquaponics market is expected to grow at a CAGR of 12.8% from 2019 to reach $1.4 billion by 2025. The high growth of the aquaponics market is mainly attributed to growing fish consumption, rising demand for organic fruits and vegetables, improvement in urban farming methods, growing reduction in arable land areas, and changing climatic conditions. However, high initial start-up cost and critical management requirement are the key factors hindering the adoption of aquaponics farming.
The global aquaponics market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2025-by equipment (grow lights, pumps and valves, fish purge systems, in-line water heaters, aeration system, and other equipment), product type (fish, vegetables, herbs, and fruits), and application (commercial, home production, and other applications). The study also evaluates industry competitors and analyzes the market at regional and country level.
On the basis of equipment, the grow lights segment accounted for the largest share of this market in 2018. The large share of this segment is mainly attributed to its rising adoption in indoor farming as it is an essential part of the indoor farming required for plant photosynthesis. However, the fish purge system is projected to grow at the highest CAGR during the forecast period. The fast growth of this segment is mainly attributed to its rising use in the aquaponics systems to eliminate feed and manipulate temperature and salinity with an objective to obtain clean and fresh fish.
Based on product type, fish commanded the largest share of the global market in 2018. The large share of this segment is mainly due to rising global population and growing fish demand for human consumption. In addition, due to high nutritional profile of the fish and changing lifestyle, this segment is further projected to grow at the highest CAGR during the forecast period.
Based on application, commercial application accounted for the largest share of this market in 2018. However, owing to the increasing backyard production of vegetables and fruits due to rising health awareness and increasing food prices, the home production segment is projected to grow at the highest CAGR during the forecast period. Moreover, rising demand for fish and growing urban farming further supports to growth of aquaponics farming market for home production across the globe.
This research report analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada, and Mexico), Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and RoAPAC), Latin America (Brazil, Argentina, and RoLATAM), and Middle East & Africa. North America commanded the largest share of the global aquaponics market in 2018, followed by Europe and Asia Pacific. However, Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The aquaponics market in Asia Pacific, especially in China, India, and Australia, is expected to witness high growth during the forecast period. The growth in this market is expected to be driven by vast growth in the population, rising demand for organic food products, and rising disposable income. In addition, factors such as rising urbanization, improvement in urban farming methods, growth of new diseases due to unhygienic foods, and rising innovations in the field of agriculture are further expected to drive the market growth in this region.
Browse in-depth Report on : https://www.meticulousresearch.com/product/aquaponics-market-5018
The major players operating in the global aquaponics market are Pentair Aquatic Eco-System (U.S.), Nelson and Pade, Inc. (U.S.), Aquaponics USA (U.S.), Green Life Aquaponics (U.S.), The Aquaponics Source (U.S.), Endless Food Systems (U.S.), Japan Aquaponics (Japan), Stuppy, Inc. (U.S.), Symbiotic Aquaponic LLC (U.S.), Practical Aquaponics (Australia), SynergyPonics (South Africa), The Aquaponics Place LLC (U.S.), and AquaCal AutoPilot, Inc (U.S.) among others.
Key questions answered in the report-
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