Aquaponics Market Size & Forecast

The Aquaponics Market is expected to reach $2.74 billion by 2031, at a CAGR of 13.7% from 2024 to 2031. 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.

Aquaponics Market Growth Drivers

Changing Climatic Conditions

Climate change has introduced new challenges to agricultural production worldwide, making sustainable vegetation increasingly difficult in many regions. As a result, there is a growing global demand for alternative agricultural practices like aquaponics farming that offer long-term sustainability. Moreover, the environmental impact of conventional food production has adversely affected biodiversity, soil carbon levels, and air quality. Issues such as soil erosion, groundwater salinization from fertilizers and pesticides, and water scarcity further drive the need for sustainable agricultural practices.

Unlike traditional farming methods, aquaponics farming eliminates the need for synthetic fertilizers, pesticides, or herbicides. This method requires approximately 90% less water than conventional farming and achieves six times greater yield per square foot. These advantages are expected to drive increased demand for aquaponics in the coming years.

Click here to: Get Free Sample Pages of this Report

Rising Demand for Organic Fruits and Vegetables

The growing health awareness, rising fitness trends, and shift toward healthy products are driving the demand for organic fruits and vegetables. The global population is expected to reach 9.7 billion by 2050, a 24% increase over 2021 (Source: Population Reference Bureau). As the global population expands, the demand for organic fruits and vegetables is projected to rise, prompting the adoption of modern systems like aquaponics to meet this need.

Aquaponics systems do not rely on soil, consume minimal water and land area, and can cultivate fresh produce in any climate. They also have significantly lower energy consumption compared to traditional agriculture and do not require chemicals or fertilizers. Therefore, aquaponics is expected to emerge as a leading choice for sustainable farming systems in the future.

Moreover, increasing disposable incomes worldwide have led people to prioritize healthier diets, including more organic fruits and vegetables. Additionally, the rising prevalence of chronic diseases such as cancer, diabetes, cardiovascular, and infectious diseases, coupled with rising healthcare costs, are motivating consumers to seek out nutritious and high-quality foods & beverages. Furthermore, there has been a surge in interest in wellness and immunity in recent years, further boosting the demand for organic fruits and vegetables. This trend is expected to influence the market’s growth.

Aquaponics Market Opportunities

Rising Need for Sustainable Agricultural Practices

Globally, agriculture currently consumes 70% of the total water supply, mainly for irrigation. By 2050, the demand for food is expected to surge by 60%, necessitating more arable land and sustainable water resources.

Aquaponics is a cutting-edge closed-loop system for cultivating fruits, vegetables, and fish. This method uses 90% less water than traditional farming by recycling and reusing water within the system. Moreover, conventional farming's heavy reliance on synthetic agricultural inputs raises significant health and environmental concerns. These inputs leave residues that pollute soil, contaminate surface and groundwater, and emit harmful gases such as ammonia, methane, nitrous oxide, and elemental nitrogen into the environment.

Adopting sustainable practices like aquaponics is crucial for mitigating the environmental impacts of high fertilizer usage and promoting long-term sustainability. While aquaponics involve significant initial investment costs, these expenses are generally lower than those associated with traditional agriculture over the long term. Unlike traditional methods, aquaponics eliminates costs related to pesticides, fertilizers, and excessive water usage. Therefore, the rising need for sustainable agricultural practices is expected to create growth opportunities for stakeholders operating in this market.

Increasing Adoption of Aquaponic Systems in Offices and Restaurants

There is a growing interest in small-scale aquaponics systems, especially in commercial settings like offices and restaurants. These systems offer numerous advantages in such environments. They can be installed in compact spaces, making them ideal for urban areas and buildings with limited land availability. It enables offices and restaurants to cultivate fresh produce on-site, even in confined spaces.

Moreover, plants grown in aquaponics systems contribute to improved indoor air quality by absorbing carbon dioxide and releasing oxygen. They also add a visually appealing natural element that enhances the ambiance of office and dining spaces.

As awareness and expertise in aquaponics continue to grow, more offices and restaurants are likely to adopt these systems, presenting opportunities for stakeholders in this market.

Aquaponics Market Analysis: Key Findings

By System: The Media-based Aquaponics Segment to Dominate the Aquaponics Market in 2024

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.

By Equipment: The Grow Lights Segment to Dominate the Aquaponics Market in 2024

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.

By Facility Type: The Poly or Glass Greenhouses Segment to Dominate the Aquaponics Market in 2024

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 larger 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.

By Product Type: The Fish Segment to Dominate the Aquaponics Market in 2024

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.

By Application: The Home Production Segment to Dominate the Aquaponics Market in 2024

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.

However, the home production segment is projected to record the highest growth rate during the forecast period 2024–2031. This growth is driven by the increasing backyard production of fruits & vegetables, driven by rising health awareness & food prices. Furthermore, the growing demand for fish and the increasing popularity of urban farming drive the growth of this segment.

Geographic Analysis

North America to Dominate the Aquaponics Market in 2024

Based on geography, the aquaponics market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of 41.4% of the aquaponics market, followed by Europe and Latin America. 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. Technological advancements and the growing demand for increased agricultural productivity in countries like China and India drive the growth of this regional market.

Aquaponics Market: Key Companies

This report includes a competitive analysis based on an extensive assessment of the leading players’ product portfolios and geographic presence and the key growth strategies adopted by them over the past 3 to 4 years. Some of 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).

Aquaponics Industry Overview: Latest Developments from Key Industry Players

• In November 2023, Himalaya Technologies, Inc. (U.S.) established a subsidiary, INFOOD TECHNOLOGIES, to provide indoor agriculture products and services to K12 and collegiate education, municipal government, and enterprise customers. As a part of this initiatives, Himalaya Technologies has formed a strategic partnership with Nelson and Pade, Inc. (U.S.), a provider of aquaponics systems and services, and Vertical Crop Consultants, Inc. (U.S.), a provider of vertical farming products and services.
• In October 2023, The Circle Sarl. (Italy), an aquaponic agricultural company, secured USD 2.3 million (EUR 2.1 million) in funding from Opes Italia and Sparviero Holding to construct two new aquaponic salad and herb production facilities for the restaurant industry.
• In December 2021, three Japan-based companies, METAWATER Co., Ltd., TETSUGEN Corporation, and Plant form Inc., established a joint venture named Tetsugen Metawater Aqua Agri to engage in aquaponics business.

Aquaponics Market Research Summary

Key questions answered in the auaponics market report: