QY Research has presented an in-depth analysis of global aquaponics market in its latest research report, titled, “Global Aquaponics Market Report, History and Forecast 2014-2025”. The report gives a brief overview of the market dynamics and provides facts and figures about the market. It highlights the crucial factors driving the market growth that are expected to contribute majorly to the future, such as food scarcity in emerging economies.
According to the research report, the global aquaponics market was worth US$17.3 mn in 2018 and is expected to reach US$39 mn by the end of 2025, surging at a CAGR of 11.5% between 2019 and 2025.
Economies Increasingly Adopting Aquaponics system due to Overpopulation
In recent years there has been an unprecedented rise in population, leading to scarcity of food, resources, and space for both emerging and developed economies. In order to tackle these problems economies are increasingly shifting towards aquaponics. The aquaponics market, in recent years, has seen innovation in the farming technology, which is likely to boost production and provide faster cultivation time. Additionally, being a combination of hydroponics and aquaculture, it re-circulates the waste of both reared fish and growing plants in the system itself. This gives particular leverage to the farmers in the food production. The farming itself provides organic fertilizers to plants and fishes, which in turn provides good quality vegetables and fruits. Aquaponics is eco-friendly and environmentally sustainable as it reduces the production of waste. This major benefit of this technique is provision of organic vegetables that are fresh, better tasting, and have a longer shelf life. It saves the need for storage and transportation as it can be sourced locally making it economically sustainable as well.
The various benefits offered by the aquaponics system has attracted a significant market share. It has become a new trend amongst for urban farmers for organic food produce, contributing to the growth of the market.
However the market might see a slowdown as aquaponics system requires heavy investment, expensive set up, and reliance on nature. This is one of the factor which might hamper the growth of global aquaponics market.
Increased Awareness in Commercial Sector to Push Aquaponics Market Upwards
The global aquaponics market is segmented on the basis of product type and end users/application. The product segment includes various methods like media filled growbeds (MFG), nutrient film technique (NFT), deep water culture (DWC), and others. The end users/application includes academic, commercial, family, and others. The commercial sector is expected to grow due to increasing focus on both organic food and sustainable farming solutions.
Asia Pacific to Lead as Regional Market faces Population Explosion
The North America holds a significantly large market share but with the growing population and increasing demand for organic food products. However, Asia Pacific is expected to contribute exponentially towards the growth of global aquaponics market as the emerging economies are slated to combat food scarcity with population explosion. Other regions in the global market are Europe, Central and South America, South Korea, the Middle East & Africa, and GCC Countries.
Innovative Technology in Aquaponics Market to Boost the Market
Prominent vendors in the global aquaponics market are Nelson and Pade, Aquaponic Source, Backyard Aquaponics, Aquaponics USA, PentairAES, Gothic Arch Greenhouses, Stuppy, ECF Farm Systems, Urban Farmers, PFAS, EcoGro, Aquaponic Lynx, Aquaponics Place, Endless Food Systems, Aonefarm, Japan Aquaponics, Evo Farm, and Water Farmers. In order to increase the market size these players are talking innovative steps towards developing their system while keeping it environmentally sustainable.
Backyard Aquaponics started a new barrel system by to support backyard aquaponics solutions. This system encourages people to use barrels for their urban farms. These barrels take up less space and are easy to maintain. Increasing adoption of this method will help with the reuse of discarded barrels. Their official website provides all the information to encourage more and more people in urban places for farming. People who want to opt for backyard aquaponics farming can also buy a small kit instead of a system.
The introduction of new technology by competitors is adding to the market competition and boosting market growth of the global aquaponics market.
Full Report Overview@ https://www.qyresearch.com/index/detail/1086694/global-aquaponics-market