Aquaponics System Market Overview
Aquaponics system is the combination of aquaculture and hydroponics together in an ideal environment. Aquaculture is the growing of aquatic animals like fish, prawns and other aquatic animals. Hydroponics is cultivating of plants in water without soil. The aquaculture waste provides organic food for the plants. In return, plants naturally clean the water that goes back to fish. The third participant is microbes which provides nutrition for the plants. The microbes convert ammonia from the fish waste into nitrites and then into nitrates which is the form of nitrogen that plants can uptake and use to grow. The result is a perfect collaboration between aquaculture and hydroponics.
Aquaponics is a perfect hope for sustainable aquaculture, organic crop production, and water consumption. Basically, aquaponics and hydroponics uses the same systems, there aren’t many differences in how the system works, except for the added fish in the water tanks. Ph control is very important part of aquaponics. Flood and drain, drip irrigation, deep culture or water submerged roots, and nutrient film techniques are highly compatible and customizable to merge with growing fish. Few primary methods of aquaponics that are growing widely are Deep water culture, Media-based aquaponics, Nutrient Film Technique and Vertical Aquaponics. Aquaponics are becoming famous as an efficient way to produce food and eco-friendly.
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Rise in population, increasing demand for organic fruits and vegetables, rise in disposable income, improvement in urban farming methods and off-season availability of fruits & vegetables, growing of new diseases due to the unhygienic food, technological advancements and new innovations in the field of agriculture, low cost in terms of lesser preparation time, rise in urbanisation, lower transport & storage costs of food and higher margins of benefits are driving the global aquaponics market growth from last few years. However, high cost equipment, limited number of skilled professionals and lack of awareness in rural areas are hampering the growth of the market.
Aquaponics System Market Forecast Report (2018-2023)
Global Aquaponics System Market was worth USD 613.97 million in 2018 and estimated to be growing at a CAGR of 14.5%, to reach USD 1208.3 million by 2023.
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Aquaponics System Market Segmentation
The Global Aquaponics market has been segmented based on equipment, production type, components, end-users and region. On the basis of equipment, the market is segmented into pumps and valves, water heaters, grow lights, fish purge systems, water quality testing, aeration systems and others. Depending on production type, the market is segmented into fish, vegetables & fruits, herbs and others. The component segment consists of rearing tanks, biofilter, settling basin, sump, hydroponics subsystem and others. On the basis of application, the market is segmented into commercial, education & research, household, community and others.
The Global Aquaponics Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle-East and Africa. North America followed by the Europe has the major market share in the global Aquaponics market due to the innovation in technology to enhance efficiency of aquaponics system and rise in number of aquaponic practitioners. In Asia Pacific region, the market is projected to grow at the highest CAGR due to the increasing population, rise in disposable income and demand for organic food products is supporting the aquaponics market growth.
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Major Players:
The major companies dominating this market for its products and services are
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