Aquaponics Market to Grow on Account of the Sustainability it Offers
Aquaponics is a combination of hydroponics and aquaculture which is leveraged for food production. The system creates a symbiotic ecosystem by using the waste produced by fishes as nutrients for growing plants. Additionally, the water used for rearing fish and growing plants is also re-circulated within the system. Aquaponics promote sustainability and provide organic vegetables while reducing the production of waste substantially. Further, the system provides for an efficient way of growing vegetables in an eco-friendly manner, a capability that is expected to prove vital to aquaponics market growth. As demand for organic vegetables continues to stay on the rise, farmers are gradually adopting aquaponics for cultivation of fresh organic vegetables which, in turn, is estimated drive the growth of the aquaponics market. In addition to this, locally grown vegetables are fresh, better tasting, have a longer shelf life and incur nominal transportation costs. Owing to these factors, an increasing number of retailers are sourcing locally grown vegetables. Moreover, longer transportation times and storage of vegetables result in damage to their quality which eventually hurts the sales. Further, farmers with no access to extensive distribution and sales network could benefit from the growing demand for local produce, a factor that is expected to boost the aquaponics market growth.
Aquaponics Market Growth to be Upheld by Technological Advancements
Continuous integration of technology in the existing aquaponics system is expected to aid farmers in streamlining the process which, in turn, is likely to boost production and provide for faster cultivation times. For instance, recent research studying the development of an IoT-based aquaponics monitoring system was recently released. As a part of the research, an aquaponics monitoring system was developed which could effectively monitor the pH values, humidity, temperature, and the water level of the whole system. The monitoring system used specific sensors to measure each of the values and then displayed it on an LCD and a web application designed for the monitoring system. Using these values, farmers could effectively manage the aquaponics ecosystem which can potentially boost production and reduce costs. Another research conducted along similar lines claimed developing an innovative aquaponics system which could provide for superior quality vegetables with great taste and in large numbers owing to the system’s ability to bolster production rate, yield, and shorten the time required for cultivation. Innovation is expected to contribute significantly towards aquaponics market growth.
Economic Sustenance Offered by Aquaponics to Augment to its Rising Popularity
Aquaponics is easy to set up and do not require expert supervision. In addition to this, the system offers a great degree of economic sustenance after setup. Unlike, hydroponics farmers are not required to invest in fertilizers and other soil-fertility enhancing chemicals with the waste from fish supplementing the soil with the required nutrients. Consequentially, soil used for cultivating crops does not require to be changed frequently which saves farmers both time and money. Additionally, aquaponics market is also expected to bolster owing to the system’s ability of utilizing substantially less area for growing fish and plants as compared to hydroponics and aquaculture. Farmers are continuously growing aware of the plethora of benefits offered by aquaponics which is gradually causing a shift towards adoption of the system over orthodox hydroponics and aquaculture practices and is expected to fuel the aquaponics market growth.
Enormous Set Up Costs to Hamper Aquaponics Market Proliferation
Although economical in the long-run, setting up aquaponics system requires a large amount of investments. On average materials and other equipment for setting up the growing area for aquaponics can range between $5 to $20 which is expensive making the commercial setup of these facilities expensive. While selling the produce cultivated by leveraging the system can bolster profits the requirement of massive investments at the beginning is making farmers reluctant to invest in the aquaponics market. The requirement for high initial investments in the system is estimated to continue to pose a challenge to the aquaponics market proliferation.
Aquaponics Market – Competitive Landscape
The report provides a detailed profiling of the leading players in the aquponics market. Some of the prominent players in the aquaponics market include AquaCal AutoPiolt, Inc., Japan Aquaponics, Backyard Aquaponics Pty Ltd., Lucky Clays Fresh, Global Aquaponic Systems Corporation, Aponic Ltd, ECF Farmsystems GmbH, GrowUp Urban Farms Ltd., Blueplanet Urban Agro Services Pvt Ltd., LivinGreen, The aquaponik manufaktur GmbH, Ichthys Aquaponics, Hapa Farms, Kunia Country Farms LLC, Nelson and Pade, Inc., NutraPonics Canada Corporation, Red Ewald Inc., Pentair Aquatic Eco-Systems Inc., Grove Labs, Portable Farms Aquaponics Systems, Greenlife Aquaponics, Aquaponic Lynx LLC, and Endless Food Systems. These companies are focusing on consolidating their position in the aquaponics market.
A recent study published by Persistence Market Research titled, “Global Market Study on Aquaponics: Increasing Demand for Locally Grown and Organic Vegetables Fueling Market Growth” provides valuable and actionable insights into the aquaponics market. The report offers a comprehensive analysis of the aquaponics market performance in addition to an all-inclusive forecast of the market. All the key market trends influencing aquaponics market growth have been propounded in the report. A quantitative, as well as a qualitative assessment of all the identified trends, has been presented in the report. Additionally, the report on aquaponics market assesses all the macro and microeconomic facets such as market drivers, restraints, threats, and challenges. A detailed opportunity assessment of the market has also been included in the report.
Aquaponics Market – Executive Summary
The report on aquaponics market commences with an executive summary which provides brief yet affluent information of the aquaponics market on the basis of volume and value. In addition to this, the executive summary section also provides an overview of the market along with exclusive recommendations from PMR analysts. The information presented under the executive summary helps readers familiarize with the market.
Aquaponics Market – Introduction and Background
The report on the aquaponics market provides a concrete market definition along with a detailed market taxonomy which helps readers gain a holistic understanding of the market. In addition to this, the report enlists all the macroeconomic factors that hold influence over market performance along with a comprehensive analysis of each of them. Additionally, a risk analysis of the aquaponics market has also been provided that will help readers understand the risk of investing in the market. A comprehensive analysis of the value chain has also been included in the report. The report on aquaponics market also provides a detailed assessment of all the market dynamics such as drivers, threats, challenges, restraints, opportunities, and trends. Segmental analysis of the aquaponics market has been provided in the report. The aquaponics market has been segmented on the basis of region, equipment, produce, and technique. On the basis of equipment, the market has been segmented into plumbing equipment and material, tank systems, rafts, liners and medium, airstones, pumps & aeration systems, and others. Based on the technique, the aquaponics market has been segmented into nutrient film technology, deep water culture, and media-filled growbed. On the basis of produce, the market has been segmented into fish and vegetables. The report provides a comprehensive market attractive analysis for each of the listed segments offering readers valuable insights into lucrative opportunities prevalent in the market. The report on aquaponics market provides a historical analysis of each of the segments in addition to an authentic and all-inclusive forecast of the market. Each of the segments has been assessed based on volume, CAGR, absolute dollar opportunity, and Y-o-Y growth. The report assesses the aquaponics market specifically on the basis of regions which are Eastern Europe, Latin America, Western Europe, North America, MEA, APEJ, and Japan. A country-wise analysis of each of the region is provided in the report. The regional analysis also includes a brief introduction about the state of the aquaponics market in the area along with specific drivers and restraints impacting the market growth in the region.
Aquaponics Market – Competitive Landscape Assessment
A competitive landscape assessment of the aquaponics market has been provided in the report which provides an assessment of the level of competitiveness prevalent in the market along with the identification of the key entry barriers into the aquaponics market. Prominent players operating in the aquaponics market have been identified under the section and have been profiled individually. Detailed profiling of each of the leading players shed light on their strengths, weaknesses, product portfolio, market presence, revenue share, global footing, and notable business developments. The information provided under this section can be leveraged by key stakeholders and business professionals for streamlining their manufacturing, marketing, and distributing strategies in order to tap into the extensive consumer base of the key market players and gain a competitive edge over the other contenders in the market.
Aquaponics Market – Research Methodology
The elaborate and robust research methodology used during the compilation of the report has been thoroughly explained in the report. A two-step research process involving primary and secondary researches was followed to obtain invaluable insights into the aquaponics market. Interviews with seasoned industry experts and detailed company case studies formed the basis of primary research. Secondary research was conducted through a thorough study of company press releases, trade journals, paid sources, and other industry-related publications. Results from both the phases of research were triangulated to create an authentic and accurate forecast of the aquaponics market.