Aquaponics Market 1

Aquaponics Market is expected to register a CAGR of 13.4% from
2019 to 2024
Aquaponics Market Research Report - Global
Forecast till 2024
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Aquaponics Market is expected to register a CAGR of 13.4% from
2019 to 2024
Market Scenario
The Global Aquaponics Market is expected to register a CAGR of 13.4% from
2019 to 2024 and reach USD 1.34 billion by the end of 2024. Aquaponics is
incorporation of raising fish and cultivating plants together in a controlled system. If
waste by-products of fishes get mixed in water, they can be harmful to fishes. On
the other hand, these waste by-products of fishes are used as nutrients for plants,
when converted into nitrate by nitrifying bacteria. Aquaponics exploits the above
phenomena and uses waste by-products of fishes as nutrients to plants. At the same
time, the water containing waste of fishes gets filtered as plants absorbs the nitrates.
This water is than again recirculated into the system. Increased income due to dual
raising activity, low water usage, and reduced technical complexity are the major
factors driving the growth of global market. Moreover, increasing demand for organic
food, is anticipated to fuel the growth of global market.
Segmentation
The Global Aquaponics Industry has been segmented based on produce,
components, equipment, application, and region.
The global market has been classified, based on produce, as fish, fruits & vegetables,
and others.
The global market has been bifurcated, based on components, into rearing tank,
settling basins, bio-filters, sump tanks, and others.
Based on equipment, the global market has been divided into pumps and valves,
grow lights, water heaters, water quality testing, fish purge systems, aeration
systems, and others.
Based on application, the global aquaponics industry has been categorized as
commercial, home food products, and others.
The global market has been analyzed for four key regions—North America, Europe,
Asia-Pacific, and the rest of the world.
The North American aquaponics market has further been segmented into the US,
Canada, and Mexico.
The European aquaponics market has been classified as the UK, Germany, France,
Italy, Spain, and the rest of Europe.
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Aquaponics Market is expected to register a CAGR of 13.4% from
2019 to 2024
The aquaponics market in Asia-Pacific has been divided into China, India, Japan,
Australia and New Zealand, and the rest of Asia-Pacific.
The aquaponics industry, in the rest of the world, has been segmented into South
America, the Middle East, and Africa.
Key Players
Backyard Aquaponics Pty Ltd (Australia), Colorado Aquaponics (US),
Greenlife Aquaponics (US), Urban Farms AG (Switzerland), Nelson & Pade
Inc. (US), Ichthys Aquaponics (South Africa), Aponic Ltd (UK), Red Ewald
Inc. (US), ECF Farmsystems GmbH (Germany), My Aquaponics (South
Africa), Hapa Farms (US), Lucky Clays Fresh (US), NutraPonics Canada
Corporation (Canada), Pentair Aquatic Eco-Systems Inc. (US), and Japan
Aquaponics (Japan), are some of the key players in the global aquaponics market.
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Regional Analysis
The market in North America is expected to dominate the global aquaponics market
during the forecast period due to the increasing demand of organic food and
adaptation of modern techniques in farming.
Moreover, the continuous technological innovations to increase efficiency of
aquaponics is anticipated to fuel the growth of aquaponics market. Asia-Pacific is
projected to grow at highest CAGR due to the increase in population leading to
increased food demand. Additionally, the farmers in developing countries like India
and China are now moving towards aquaponics due to increased income with dual
raising activity and easy technical operations.
The market in the rest of the world is expected to gain a significant share as the
South American countries are now adapting aquaponics due to lower operating cost
and increase in demand of organic food.
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Aquaponics Market is expected to register a CAGR of 13.4% from
2019 to 2024
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