Aquaponics Market Opportunities, Business Forecast To 2028
The global aquaponics market size was valued
at USD 23.62 million in 2021 and is estimated to reach USD 50.61 million by
2028, at a CAGR of 11.5% during the forecast period 2022 to 2028. Soil
is an excellent source of all available natural resources for growing crops,
but soil management takes time. Aquaponics refers to a farming technique that
combines the growing of fish and plants. The bacteria consume the waste
produced by the fishes as food in this way. Furthermore, the bacteria's
nitrogen waste is an excellent fertilizer for plants. The excess water
discharged from the plant system is reused to the fish tank on a regular basis.
The natural ecosystem is known to be stimulated by aquaponics. It is thought to
be an environmentally friendly method of food distribution. Aquaponics promotes
sustainability by providing organic veggies while drastically reducing waste
output. Furthermore, the system provides an efficient method of growing
vegetables in an environmentally responsible manner, a feature that is expected
to be critical to the Aquaponics Market's development.
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Farmers are progressively implementing aquaponics for the
cultivation of fresh organic vegetables as demand for organic veggies continues
to climb, which is expected to drive the aquaponics industry. Furthermore,
locally grown vegetables are fresher, have a better flavor, have a longer life
span, and have low shipping expenses. A growing number of shops are sourcing
locally farmed vegetables as a result of these causes. Furthermore, longer
shipping and storage times for veggies degrade their quality, resulting in
lower sales. Farmers that do not have access to a large marketing and sales
network may also benefit from the increased demand for local produce, which is
predicted to drive the aquaponics market forward. Nonetheless, continual
technological advancements, rising demand for improved urban farming practices,
and potential value in emerging countries present excellent growth prospects.
The global aquaponics market
segmentation:
1) By Produce Type: Fishes, Herbs, Fruits and Vegetables
Plants.
2) By Equipment: Grow Lights, Pumps & Valves, Fish Purge
Systems, Aeration Systems, and Others.
3) By Application: Commercial, Community, Home production,
Research Centers, Agriculture & Schools, and Others.
The leading market share belongs to North America. The
market in the North American area will be boosted by population increase,
rising demand for organic products, improvements in urban farming practices,
rising consumer health consciousness, and technical advancements and
developments in the field of agriculture.
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There are some major players working in aquaponics
market, which include Nutraponics Canada Corporation, Nelson
and Pade, Inc., Pentair Aquatic Eco-System, My Aquaponics, Greenlife Aquaponics,
ECF Farmsystems GMBH, Aquaponic Lynx LLC, Aqua Allotments
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