Global Market Study on Aquaponics: Increasing Demand for Locally Grown and Organic Vegetables Fueling Growth
Aquaponics Market Segmented By Pharmaceutical Grade, Food Grade, Feed Grade Aquaponics Type in Powder, Semi Fluid or Paste, Block Form, Used in Pharmaceutical Industry, Tobacco, Food and Beverage Industry
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.
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- VPL Chemicals Pvt. Ltd.
- ASEH Licorice MFG & Exp. Co.
- Zelang Group.
- Maruzen Pharmaceutical Co. Ltd.
- Ransom Naturals Limited.
- Glycyrrhiza Glabra
- Licorice Kazakhstan
- Monterey Bay Spice Company, Inc.
- C.E. Roeper GmbH
- Grove Labs
- Portable Farms Aquaponics Systems
- Greenlife Aquaponics
- Aquaponic Lynx LLC
- Endless Food Systems
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.
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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.
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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.
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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.