Aquaponics farming is the combination of aquaculture and hydroponics. One of the most appealing aspects of Aquaponics is that it closely resembles a natural ecosystem. Aquaponics is the study of the interaction of water, aquatic life, bacteria, nutrient dynamics, and plants in streams all over the world. Aquaponics leverages the power of bio-integrating these distinct components, taking inspiration from nature: The waste by-product from the fish is used as a food source for bacteria, which is then converted into a perfect fertilizer for the plants, allowing the water to be returned to the fish in a clean and safe state.
Companies Covered:
Pentair Aquatic Eco-Systems Inc., AquaCal AutoPilot Inc., Japan Aquaponics, Nelson and Pade Inc., Aponic Ltd, LivinGreen, NutraPonics Canada Corporation, The aquaponik manufaktur GmbH, ECF Farmsystems GmbH, Green Life Aquaponics, Lucky Clays Fresh.
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COVID-19 Impact analysis
The COVID-19 epidemic has had a significant influence on the aquaponics supply chain. Farmers have been rearing a huge quantity of live fish and other aquatic species due to supply chain disruptions caused by COVID-19. This had a detrimental influence on the farmers’ costs, expenditures, and risk.
The primary challenge for the aquaponics market has been the loss of sales due to COVID-19 pandemic. Producers suffer huge risk of losses because of having to hold back the market ready products which effect the product marketability and price
Many manufacturers faced challenge in obtaining production inputs like seeds, feed, fertilizers; difficulty in obtaining repair and maintenance service also got affected during the lockdown period. Producers faced cash shortages and cash flow problems.
Top Impacting Factors
The marketplaces for aquaponic farms and aquaponic inputs are now highly fragmented, with several new firms fighting for a significant portion of the industry.
Farmers are gradually adopting aquaponics for cultivation of fresh organic vegetables as demand for organic veggies continues to increase, which is expected to drive the growth of the aquaponics market.
Farmers that do not have access to a large distribution and sales network may benefit from the increased demand for local product, which is predicted to drive the growth of the aquaponics market.
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Market Trends
Organic Produce Driving the Market demand
The desire for organically grown vegetables has tremendous potential and an untapped market for emerging aquaponic farms and aquaponic system suppliers. As aquaponics produce is free of chemical fertilizers and crop protection chemicals, with fish waste serving as the primary nutrient for plants. According to the Organic Trade Association, sales of organic fruits and vegetables increased by 5.6% to USD 17.40 billion in 2018, up from USD 16.42 billion the previous year, making the U.S. one of the major markets for organically cultivated fruits and vegetables.
Furthermore, Europe has one of the world’s largest organic farmland areas, with Spain accounting for the most, with 2,246,475 hectares under organic cultivation. As a result, the worldwide aquaponic sector is likely to be driven even more by demand for organically cultivated product during the projection period.
Technological Advancements to Support Aquaponics Market Growth
Continuous technological integration into the existing aquaponics system is projected to assist farmers in expediting the process, resulting in increased productivity and shorter culture times. An aquaponics monitoring system was built as part of the research to properly monitor the pH values, humidity, temperature, and water level of the entire system. The monitoring system used special sensors to measure each of the data, which were then presented on an LCD and a monitoring system-specific web application. Farmers might successfully manage the aquaponics ecosystem using these parameters, potentially increasing productivity and lowering costs.
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Key Benefits of the Report
This study presents the analytical depiction of the Aquaponics Farming industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Aquaponics Farming Market share.
The current market is quantitatively analyzed from 2020 to 2028 to highlight the Aquaponics Farming Market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed Aquaponics Farming Market analysis based on competitive intensity and how the competition will take shape in coming years.
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