Aquaponics Market anticipated to surpass $1.02 billion by 2028 rising at a CAGR of 5.86%

NOIDA, UTTAR PRADESH, INDIA, August 21, 2023/EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the global aquaponics market is projected to grow at a CAGR of 5.86% between 2021 and 2028 to reach US$1,021.442 million by 2028. A prime factor driving the global aquaponics market growth is the depletion of natural resources coupled with growing land scarcity.

Aquaponics offers a game-changing approach to sustainable agriculture, combining aquaculture with hydroponics to form a synergistic environment. This novel technology promotes optimal resource utilization by converting fish waste into nutrient-rich water for plant development, while plants filter and clean the water for the fish. Growing demand for organic products, protection of water and land resources, and a push towards local and self-sufficient food systems are driving the market’s expansion. As global food security and environmental problems become more serious, aquaponics presents itself as a possible option that combines aquaculture and hydroponics to solve these critical issues.

The global aquaponics market is expanding rapidly as a result of a convergence of several key factors addressing major difficulties in the agricultural and food production sectors. The rising demand for sustainable food production is a crucial motivator since conventional agricultural practices struggle to fulfill the world's expanding food demands. With its resource-efficient and symbiotic ecology, aquaponics is a possible option. Natural resource depletion and land scarcity stimulate the use of aquaponics. With shrinking arable land and water scarcity, aquaponics offers a technique to maximize production in a small space while reducing water usage. The growing awareness of the health and nutritional benefits of fresh, locally farmed vegetables is fueling interest in aquaponics. The market takes advantage of the customers' inclination for nutrient-dense, chemical-free meals.

Aquaponics system technological advancements improve operating efficiency and production. Monitoring, automation, and sensor integration advancements optimize fish and plant development, promoting market growth. The growing interest in urban and indoor farming corresponds to the scalability and adaptability of aquaponics for small settings. Aquaponics is a potential answer for urban inhabitants seeking locally produced, ecological food. Aquaponics is positioned as a sustainable and ecologically beneficial solution as a result of the shift towards organic and locally sourced produce, which is being driven by eco-conscious customers. Water conservation and resource utilization efficiency are crucial issues. Aquaponics recirculates water, decreasing waste and the strain on water resources, which is becoming increasingly important in water-stressed areas.

Favorable government initiatives and funding support contribute to the market's expansion. Many governments around the globe promote sustainable agriculture practices by providing incentives for the use of new technologies such as aquaponics. The Aquaculture Development Fund (ADF) hopes to increase aquaculture production to 970,000 tonnes per year by 2029. To assist reach this aim, the Saudi government has announced plans to establish 70 million fish farms for fingerlings. The integration of IoT and Automation in Aquaponics improves system monitoring, data analysis, and control, optimizing manufacturing processes and contributing to market development. These growth drivers jointly position the worldwide aquaponics market as a feasible and viable option to solve food production, resource utilization, and environmental sustainability concerns, leading to its ongoing expansion.

Access sample report or view details: https://www.knowledge-sourcing.com/report/global-aquaponics-market

The global aquaponics market has been segmented based on type, component, equipment, application, end-user, and geography. The market has been segmented based on end-user into commercial, home production, and research. Application is further classified into fish, herbs, fruits, and vegetables.

By region, North America leads the global aquaponics market. The region's significance is driven by sophisticated farming practices, technological innovation, and a growing demand for sustainable food systems. Countries such as the United States and Canada have embraced aquaponics, aided by favorable climatic conditions and a focus on locally sourced, fresh vegetables. The region's growing emphasis on organic farming, lower water consumption, and smart resource management are all compatible with aquaponics concepts. Collaborations between universities, research institutes, and commercial organizations contribute to North America's leadership in the advancement and broad implementation of aquaponics technology.

As a part of the report, the key companies operating in global aquaponics market that have been covered include Aquaponic Lynx LLC, GreenLife Aquaponics, Nelson & Pade Aquaponics, The Aquaponic Source, ECF Farmsystems GmbH, MyAquaponics, Backyard Aquaponics, NutraPonics Canada Corporation, Symbiotic Aquaponic, and Endless Food Systems among other significant market players.

The global aquaponics market analytics report segments the market as follows:

• By Type

o Media Filled Grow beds (MFG)
o Nutrient Film Technique (NFT)
o Deep Water Culture (DWC)
o Others

• By Component

o Bio Filter
o Settling Basins
o Fish Tanks
o Soil-Free Plant Bed
o Rearing Tanks
o Aquaponic Produce
o Others

• By Equipment

o Pumps and Valves
o Water Heaters
o Fish Purge Systems
o Aeration Systems
o Water Quality Testing
o Others

• By Application

o Fish
o Herbs
o Fruits
o Vegetables

• By End-User

o Commercial
o Home Production
o Research

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• UK
• Germany
• France
• Italy
• Others

o Middle East and Africa

• UAE
• Israel
• Saudi Arabia
• Others

o Asia Pacific

• China
• Japan
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others

Explore More Reports:

• Global Aquaculture Market: https://www.knowledge-sourcing.com/report/global-aquaculture-market

• Indoor Farming Technology Market: https://www.knowledge-sourcing.com/report/indoor-farming-technology-market

• Seawater Fish Market: https://www.knowledge-sourcing.com/report/global-sea-water-fish-market

Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
[email protected]
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