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Aquaponics Market To Reach USD 2531.37 Million By Year 2032

Aquaponics Market Size Was Valued at USD 1260 Million in 2023 and is Projected to Reach USD 2531.37 Million by 2032, Growing at a CAGR of 8.06% From 2024-2032.

02-07-2024
Prashant
Food and Beverages
Pristine Intelligence LLP

According to a new report published by Pristine Intelligence LLP, titled, “Aquaponics Market by Growing System, Equipment, Cultivation, Fish Type, And Application: Global Opportunity Analysis and Industry Forecast, 2024–2032,” the Global Aquaponics market size was valued at USD 1260 Million in 2023, and is projected to reach USD 2531.37 Million by 2032, registering a CAGR of 8.06% from 2024 to 2032. Aquaponics is a farming technique that merges aquaculture, which involves raising aquatic animals, with hydroponics, which involves cultivating plants without soil, to create a sustainable system. This includes raising fish or other aquatic animals in a tank or pond, where their waste serves as nutrients for plants grown in a hydroponic system.

Aquaponics is an effective method for producing fish and crops using very few resources while using significantly less water compared to conventional farming. It enables year-round farming anywhere and despite weather conditions, promoting organic practices by removing the necessity for chemicals. In urban areas, it allows for the growth of local food, cutting down on transportation and boosting food security, all while lowering carbon emissions.

Aquaponics is an eco-friendly option to conventional agriculture that consumes 90% less water and needs less land, making it well-suited for urban locations. It gets rid of the requirement for man-made chemicals and allows for the production of food locally, which decreases carbon emissions. Technological advancements enable automation and continuous production, enhancing food security in regions lacking access to fresh produce.

Consumers appreciate organic fruits and vegetables because of their health and environmental advantages. Aquaponics satisfies the need by consistently producing locally-grown, high-quality organic food. Plants in aquaponics systems benefit from ideal nourishment, leading to tasty, crisp, and nutrient-rich harvests. The regulated setting enables production throughout the year, decreasing dependency on outside sources. This eco-friendly method attracts consumers who are willing to spend extra on organic food, improving food security and resilience in certain regions.

Global Aquaponics Market, Segmentation

The Aquaponics market is segmented based on Growing System, Equipment, Cultivation, Fish Type, Application, and region.

Growing Media:

Aquaponics grow beds filled with media utilize materials like gravel, clay pebbles, or coconut coir to aid plant root support and enhance nutrient absorption. They also act as biofilters, providing a home for bacteria that change fish waste into nutrients for plants to thrive. This procedure enhances the quality of the water and establishes a harmonious ecosystem within the system.

Media-rich grow beds with expansive surface areas soak up and hold onto nutrients, stopping them from being carried away by water. They can be easily adjusted to suit various system sizes, whether it's for small backyard setups or large commercial operations, allowing growers to maximize production and fulfill market needs..

Equipment:

Grow lights in aquaponics imitate the natural light schedules, encouraging steady plant development regardless of changes in seasons. They offer the best light for photosynthesis, aiding plant growth and enabling continuous production, especially in regions with minimal sunlight or severe weather conditions that impede outdoor agriculture.

Grow lights offer versatility for growing and maximizing plant growth in aquaponics. LED lights are more energy efficient than traditional lighting choices. Automated control and adjustable spectrums in smart lighting systems improve their user-friendly features. These advances meet various market needs by enabling farmers to customize light intensity and spectrum according to the specific requirements of various plant species.

Region:

The worldwide need for organic food is on the rise, with North America seeing a surge in this phenomenon. Aquaponics, a sustainable farming practice, is in harmony with the growing trend of organic food production. Market growth in North America is driven by the greater awareness and adoption of aquaponics compared to other regions. Government assistance and rules, along with funding for research and development, have helped to grow the aquaponics sector in North America.

Some of The Active Market Players Are-

  • Superior Fresh (US)
  • Ouroboros Farms (US)
  • Garden City Aquaponics Inc. (US)
  • BIGH (UK)
  • Deep Water Farms (US)
  • Madhavi Farms (India)
  • Pentair Aquatic Eco-System Inc. (PAES) (US)
  • Nelson & Pade Aquaponics (US)
  • Practical Aquaponics (Australia)
  • Aquaponics USA (US)
  • The Aquaponic Source (US)
  • Green Life Aquaponics (US)
  • Japan Aquaponics (Japan)
  • Aquaponic Lynx LLC (US)
  • Backyard Aquaponics Pty Ltd (Australia), and Other Active Players.

Key Industry Developments

  • April 2024: Jacksonville non-profit launches its seventh aquaponics urban farm with the mission to grow fresh produce and fish year-round and provide specialized job training. Under a partnership with the Chartwells school food service provider, fresh produce from the farm will help provide "healthy choices" in Duval County public school cafeterias, among other beneficiaries.
  • March 2024: Rotary International launched the Aquaponics centre. This collaboration between Rotary International, Fresh Ministries, and the Desmond Tutu Program to End Global Hunger, initiative leverages expertise in aquaponics to provide sustainable food sources and promote economic growth, transforming lives and fighting malnutrition.

Key Findings of the Study 

  • Aquaponics enables localized food production, reducing transportation distances and associated carbon emissions.    
  • Aquaponics enables the continuous production of top-notch, locally-grown organic food, satisfying the increasing need for these items.
  • Media-filled grow beds act as a biofilter, hosting beneficial bacteria that convert ammonia from fish waste into nitrites and nitrates.
  • There is a high level of awareness and adoption of aquaponics in North America compared to other regions in the world.
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