Aquaponics Market Scope
Aquaponics refers to a process which combines conventional agriculture methods with hydroponics, a method of growing plants without soil. In an aquaponic system, the aquaculture system is used to feed water to a hydroponic system where products are broke down by nitrifying bacteria and water is recirculated in an aquaponic system. Aquaponics market has high growth prospects owing to increasing demand for the organic food and technological developments towards farming of medicinal plants.
According to AMA, the Global Aquaponics market is expected to see growth rate of 6.42%Aquaponics market is fragmented owing to the number of players present in the market. Market players are focusing on developing advanced farming technique expected to grow the market in the long standing. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Aquaponics market throughout the predicted period.
Pentair Aquatic Eco-Systems, Inc. (United States), Nelson & Pade Inc. (United States), ECF Farm systems GmbH (Germany), AquaCal AutoPilot, Inc. (United States), Japan Aquaponics (Japan), GrowUp Urban Farms Ltd. (United Kingdom), Kunia Country Farms LLC (United States), Green Life Aquaponics (United States), Water Farmers Aquaponics (Canada), Lucky Clays Fresh (United States), Global Aquaponic Systems Corporation (United States), Ichthys Aquaponics (South Africa) and Aponic Ltd. (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Red Ewald, Inc. (United States), The Aquaponic Manufacture GmbH (Germany) and NutraPonics Canada Corporation (Canada).
Segmentation Overview
The study have segmented the market of Global Aquaponics market by Type (Fish (Tilapia, Carps, Catfish, Bluegils, Koi, Trout, Ornamentals, Others), Vegetables (Tomato, Peppers, Cucumber, Herbs, Lettuce, Kale, Bok Choy, Others) and Others), by Application (Water and energy usage, Feed source, Fish stocking, Disease and pest management, Automation, Monitoring, and control and Others) and Region with country level break-up.
On the basis of geography, the market of Aquaponics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Development in Cost-Effective Solutions for High-Value Crops and Emphasizing On Reducing the Use of Artificial Fertilizers
Market Growth Drivers:
Increasing Demand for Aquaponics Owing To Erratic Climatic Conditions and Higher Yield Production Compared To Traditional Agricultural Methods
Challenges:
Constantly Monitoring Of Water Supply in the Aquaponics Systems and Inability to Grow Root Crops With Aquaponics Systems
Restraints:
High Setup Cost Associate with Aquaponics Systems and Lack of Technical Expertise to Operate Aquaponics Systems
Opportunities:
Increasing Demand for Constant Food Production to Meet Demand and Supply Requirements and Development in Advanced Farming Technologies
Market Leaders and their Expansionary Development Strategies
In March 2021, Aquaponics landed in Japan, already providing training and R&D opportunities, and ultimately aiming to develop a robust commercial market for hydroponic products.
8 February 2019, The United States Department of Agriculture approves to sold aquaponics and hydroponic products under USDA’s organic seal. This is creating competition among producer of organic products through the soil and aquaponic system.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.