The global aquaponics market was valued at US$523.75 million in 2017 and is expected to grow at a CAGR of 10.70% to reach a market size of US$870.62 million by the year 2022. Aquaponic is an integrated system of growing fish and plants together, wherein the waste produced by aquatic creatures is used to provide nutrients to plants. Under aquaponic system, hydroponic system receives water from aquaculture system in which by-products of the process such as ammonia gets broken down with the help of nitrifying bacteria into nitrites first and then into nitrates later which are then consumed up as nutrients by plants and then the water is again go into aquaculture system.
Increasing global population is pressurizing to increase the crop yield which, in turn, is augmenting the demand for aquaponics solutions in order to cultivate the crop in a sustainable and natural manner without the use of harmful pesticides. Moreover, improvement in urban farming methods and high demand for off-seasoning fruit and vegetables are further fuelling the growth of global aquaponics market. The growing consumption of fish will bolster the market growth in the coming years owing to the cost benefits of aquaponics. Rising demand for organic fruits and vegetables will also propel the growth of global aquaponics market during the forecast period.
APAC region will drive the aquaponics market owing to rising population base coupled with growing awareness about benefits of organic farm products. Farmers in emerging economies are using aquaponics in order to produce organic fruits and vegetables and fishes simultaneously.
Global Aquaponics Market has been segmented on the basis of component, equipment, product type, end-user, and geography as follows:
In-Line Water Heaters
Pumps and Valves
Fish Purge Systems
By Product Type
By End User
Europe Middle East and Africa
The Middle East and Africa
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are Aquaponic Lynx, Green Life Aquaponics, and Nelson and Pade among others.