Global Aquaponics Market to Reach USD 2,151.97 Million by 2031 | CAGR of 10.8%
Category : Agriculture & Animal Feed | Published Date : Oct 2024 | Type : Press Release
Aquaponics Market Scope & Overview:
As per the Consegic Business Intelligence newly published report, the Aquaponics Market size was valued at USD 870.60 Million in 2022 and is projected to reach USD 2,151.97 Million by 2031, growing at a CAGR of 10.8% during the forecast period from 2023 to 2031. Aquaponics is a system of cultivating plants and fish together in a mutually beneficial environment. This sustainable method integrates aquaculture (raising fish) with hydroponics (growing plants without soil), allowing the fish waste to provide nutrients for plant growth, while the plants help purify the water for the fish. Aquaponics systems can be used in both commercial and home production settings.
The report comprises the Aquaponics Market Share, Size & Industry Analysis, By Produce (Fish, Fruits, Vegetables, and Others), System Type (Deep Water Culture, Nutrient Film Technique, and Media-based), Component (Rearing Tank, Settling Basin, Bio-filters, Sump Tank, and Others), Application (Commercial, Home Production, Research Centre, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2031.
The report contains detailed information on Aquaponics Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The increasing demand for high-quality, locally produced food is a major driver for the aquaponics market. Additionally, innovative technologies in sustainable farming are propelling the adoption of aquaponics systems, especially in urban areas with limited space for traditional farming.
Segmental Analysis :
Based on produce, the market is segmented into fish, fruits, vegetables, and others.
- Fish accounted for the highest market share of 53.44% in 2022, driven by the increasing use of fish in aquaponics systems, which offer both plant and fish production with minimal waste.
- Vegetables are expected to grow at the fastest rate, as aquaponics systems are particularly suited for growing high-quality organic vegetables in controlled environments.
Based on system type, the market is divided into deep water culture, nutrient film technique, and media-based systems.
- Media-based systems held the largest market share in 2022 due to their simplicity and low cost, making them popular for small-scale and home-based aquaponics systems.
- Nutrient film technique is projected to witness the fastest growth owing to its space-efficient design, which makes it suitable for commercial applications.
Based on component, the market is categorized into rearing tanks, settling basins, bio-filters, sump tanks, and others.
- Rearing tanks accounted for the highest market share in 2022, as they are essential for housing fish in aquaponics systems.
- Bio-filters are expected to grow at the fastest rate due to their role in converting fish waste into nutrients for plants, enhancing the efficiency of aquaponics systems.
Based on application, the market is divided into commercial, home production, research center, and others.
- The commercial segment dominated the market in 2022, driven by the growing adoption of aquaponics for producing vegetables and fish for sale in local markets.
- The home production segment is expected to grow rapidly due to increasing interest in self-sustained and organic food production.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- North America held the largest market share in 2022, accounting for 32.31% of the market, driven by the increasing number of partnerships between educational and research institutions and private companies in the U.S.
- Asia-Pacific is projected to witness the fastest growth, supported by government initiatives for sustainable farming in countries such as China, India, and Southeast Asian nations.
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2031 | USD 2,151.97 Million |
| CAGR (2024-2031) | 10.8% |
| By Produce | Fish, Fruits, Vegetables, Others |
| By System Type | Deep Water Culture, Nutrient Film Technique, Media-based |
| By Component | Rearing Tank, Settling Basin, Bio-filters, Sump Tank, Others |
| By Application | Commercial, Home Production, Research Center, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamic.
List of prominent players in the Aquaponics Industry:
- Nelson and Pade Aquaponics
- Pentair Aquatic Eco-System, Inc.
- The Aquaponic Source
- Hydrofarm Holdings Group, Inc.
- Practical Aquaponics (Pty) Ltd.
- Greenlife Aquaponics
- Backyard Aquaponics Pty Ltd.
- My Aquaponics
- Aquaponic Lynx LLC
- Aquaponik Manufactory GmbH
Recent Industry Developments :
- In 2022, Greenlife Aquaponics and Red Ewald created a mini firm to install aquaponics equipment, aiming to provide a system that allows for simultaneous fish and plant cultivation while creating a market that attracts significant consumer attention.
- In April 2021, France-based indoor farming company Les Nouvelles Fermes raised approximately USD 2.4 million in funding to build the largest aquaponics farm in Europe.
