The global aquaponics market is segmented into production type such as plants, fruits and vegetables, fish. Among these segments, fish segment is expected to witness considerable growth over the forecast period. The rise of the fish segment is backed by increasing demand for fish across all regions. Aquaponics is a very eco-friendly and high productive method for fish production. Aquaponics can be very useful in commercial production of fisheries and also for home production.
Global aquaponics market is expected to register a notable CAGR over the forecast period. Moreover, the global market is projected to grow on the abck of factors such as growing demand for food, reducing arable land area and rising consumption of fish for fishmeal and fish oil, and other uses. Food and Agriculture Organization of the United Nations predicted in its ‘The State of World Fisheries and Aquaculture 2016, report that world apparent fish consumption is projected to increase by 31 million tonnes in the next decade to reach 178 million tonnes in 2025.
The rearing tank segment by component is likely to grow at remarkable pace during the forecast period. Rearing tank is one the most essential part of an aquaponics system. Growing installation of new aquaponics system will increase the demand for rearing tank, which in turn expected to foster the growth of this segment.
Reducing Arable Land Areas
Although, the world is going through a great urbanization, digitalization and industrialization transformation, such transformations have adverse impact on world agriculture industry. Due to urbanization and industrialization, the arable land areas are continuously decreasing, the soil is getting weak in nutrition and the food production is falling. The world agriculture land is shrinking and due to this demand for small land farming solutions such as aquaponics, horticulture and others is increasing at extraordinary rate across all regions.
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Changing Climate Conditions
The rate of climate change is expected to increase over the next 50 years, and current climate conditions bring new stresses on agriculture production and prevent sustainable vegetation production in many areas. This has resulted in an increase in the demand for alternative agricultural practices that will be sustainable in the long term. Further, strains on the environment from food production have caused declines in biodiversity, soil carbon, and air quality. Issues include soil erosion, high groundwater salinization from fertilizer/pesticides, and decreased water availability. Due to environmental benefits of aquaponics, the market is likely to grow in near future.
Although, aquaponics requires highly skilled labor in order to set up and operate and constant monitoring is required to prevent overcrowding fish tanks, inaccurate pH levels, unsuitable pumps and piping and constant waste monitoring.
The report titled “Global Aquaponics Market: Global Future Outlook (2018-2027) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global Aquaponics market in terms of market segmentation by production type, by component, by application, by equipment and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global Aquaponics market which includes company profiling of Pentair Plc., Aquaponic Solutions, Nelson and Pade Inc., Green Life Aquaponics, ECF Farmsystems GmbH, Colorado Aquaponics, Symbiotic Aquaponic., living green Company, Aquaculture Innovations and Urbagrow Aquaponics. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Aquaponics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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