Global Aquaponics Market growing at a CAGR of 10.8% from 2023 to 2031
Category : Agriculture | Published Date : Oct 2023
Key Market Overview
Consegic Business Intelligence analyzes that the aquaponics market is predicted to grow at a compound annual growth rate of 10.8% from 2023 to 2031 and is expected to reach USD 2,151.97 million in 2031 and 949.73 million in 2023 which was valued at USD 870.60 million in 2022.
The report highlights the increasing demand for high-quality, locally-produced food drives the aquaponics market. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the aquaponics market.
Global Aquaponics Market By Overview
The aquaponics market is segmented into product type, system type, component, and application. Based on produce, the market is segmented into fish, fruits, vegetables, and others. In 2022, the fish segment dominate in the overall aquaponics market. Based on system type segment is categorized into deep water culture, nutrient film technique, and media-based. In 2022, the media-based segment accounted for the highest market share in the aquaponics market. Based on the components, the market is segmented into rearing tanks, settling basin, bio-filters, sump tanks, and others. In 2022, the rearing tanks segment dominate the overall aquaponics market. The application segment is categorized into commercial, home production, research centers, and others. In 2022, the commercial segment accounted for the highest market share in the aquaponics market.
Get Free SampleMarket Dynamics
Driver:
- Increasing demand for high-quality, locally produced food drives the market growth.
- Innovative technology introduced in the field of aquaponics system are also acting as a driver for the market.
Restraints:
- High cost of initial investment and maintenance are major restraining factors for the market.
Market Segmentation:
| Report Attributes | Report Details |
| By Produce | Fish, Fruits, Vegetables, and Others |
| By System Type | Deep Water Culture, Nutrient Film Technique, and Media-based |
| By Component | Rearing Tank, Settling Basin, Bio-filters, Sump Tank, and Others |
| By Application | Commercial, Home Production, Research Center, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Nelson and Pade Aquaponics, Pentair Aquatic Eco-System, Inc., The Aquaponic Source, and Hydrofarm Holdings Group, Inc., which have a strong market position in the current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions. Furthermore, the aquaponics market is expected to witness substantial growth in the coming years due to the growing demand for aquaponics locally produced food.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- 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