Aquaponics Market Market Snapshot
|Study Period:||2016 - 2026|
|Fastest Growing Market:||North America|
|Largest Market:||North America|
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The global aquaponics market is estimated to register a CAGR of 12.5% during the forecast period (2021-2026). The COVID-19 pandemic majorly impacted the supply chain of the aquaponics market. Supply chain disruption amidst COVID-19 led farmers to rear many live fishes and other aquatic species, which negatively impacted the cost, expenditure, and risk borne by the farmers.
In 2019, North America occupied the largest share in the aquaponics market. The United States contributed to the largest share in the region, followed by Canada. Currently, aquaponics is a small but rapidly growing industry in the region, with several partnerships among educational and research institutions and private companies, which plays a pivotal role in the establishment of and awareness about aquaponic farms in recent years. However, mass-scale production of aquaponic crops is yet to take form in the region, although farms, such as Superior Fresh and Ouroboros Farms, are at the forefront of commercial aquaponics production.
Scope of the Report
Aquaponics refers to the combination of conventional fish culture with the cultivation of plants hydroponically. The aquaponics market is segmented by growing system (media filled beds, nutrient film technique, and raft or deep water culture), facility type (poly or glass greenhouses, indoor vertical farms, and other facility types), fish type (tilapia, cat fish, carp, trout, ornamental fish, and other fish types), crop type (fruits and vegetables and herbs and microgreens), and Geography (North America, Europe, Asia-Pacific, South America, and Africa).
|Nutrient Film Technique (NFT)|
|Raft or Deep Water Culture (DWC)|
|Poly or Glass Greenhouses|
|Indoor Vertical Farms|
|Other Facility Types|
|Other Fish Types|
Key Market Trends
Substantial Demand for Organic Produce Driving the Market
As aquaponics are free from chemical fertilizers and crop protection chemicals, with fish waste serving as the prime nutrients for plants, the demand for organically grown crops holds high potential and an untapped space for emerging aquaponic farms and aquaponic system providers. Sales of organic fruits and vegetables rose by 5.6%, to USD 17.40 billion, in 2018 from USD 16.42 billion during the previous year, as reported by the Organic Trade Association, leading the United States to become one of the leading markets for organically grown fruits and vegetables. Moreover, Europe holds one of the largest organic farmland areas globally, with Spain accounting for the largest share with 2,246,475.0 hectares of the area under organic farming. As a result of the underlying scope for aquaponic farming in the organic produce industry, the European-funded COST Action FA1305 “The European Union Aquaponics Hub-Realising Sustainable Integrated Fish and Vegetable Production for the EU” strengthened the network between researchers and private players. Therefore, the demand for organically grown produce is expected to drive the global aquaponic industry during the forecast period.
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North America Dominates the Market
Although still a small industry in North America, aquaponic farming is expected to witness exponential growth in the coming years. In 2014, the University of Wisconsin – Stevens Point and Nelson and Pade Aquaponics entered a Public-Private Partnership (PPP) to establish an Aquaponics Innovation Center as part of the UW-System Economic Development Incentive Grant. Such initiatives have played a pivotal role in raising awareness about sustainable farming alternatives, such as aquaponics, in the region. Additionally, aquaponics is expected to help rebuild the aquaculture industry in the United States in the future. In Wisconsin, the number of aquaculture farms recently rose from 2,300 to 2,800, with 300 out of the 500 new farms being aquaponic farms, as revealed in the Aquaculture America Conference in 2018. Currently, the United States imports more than 80.0% of the seafood it consumes annually. The rising aquaponics farms in the country will help the country reduce its seafood import over time.
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The global aquaponics market is highly fragmented, primarily due to the evolving nature of the market. Some of the most active aquaponic farms are Superior Fresh, Ouroboros Farms, Garden City Aquaponics Inc., BIGH, Deep Water Farms, and Madhavi Farms, while some of the major aquaponic input providers are Pentair Aquatic Eco-System Inc. (PAES), Nelson & Pade Aquaponics, Practical Aquaponics, Aquaponics USA, and The Aquaponic Source. As the market is still expanding, emerging players have been identified with strategizing product launches and capacity expansion to secure a substantial share in the market studied.
- In 2019, Superior Fresh, the leading aquaponic produce supplier in the Midwest US, expanded its greenhouse footprint from 6 acres to 13 acres and its aquaculture center from 40,000 square feet to 100,000 square feet.
- In 2019, Aerofarms partnered with Dell Technologies to expand its technological requirements of machine learning and network systems. Through its partnership, AeroFarms is well-positioned to implement the right data-driven machinery by using data related to temperature, humidity, airflow, nutrients, light, water, and food safety.
- In 2016, The Aquaponics Source relocated from Longmont to Boulder in Colorado to exploit its production and distribution operational facilities. The company made a name for itself in the aquaponics market by offering education in a similar domain to the general public. One of its most popular school systems is the 60 Gallon Mobile Aquaponics System, which has settings to display on wheels for mobility for easier public demonstrations.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitutes
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Growing System
5.1.1 Media Filled Beds
126.96.36.199 Constant Flow
188.8.131.52 Ebb and Flow (Flood and Drain)
5.1.2 Nutrient Film Technique (NFT)
5.1.3 Raft or Deep Water Culture (DWC)
5.2 Facility Type
5.2.1 Poly or Glass Greenhouses
5.2.2 Indoor Vertical Farms
5.2.3 Other Facility Types
5.3 Fish Type
5.3.5 Ornamental Fish
5.3.6 Other Fish Types
5.4.1 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia-Pacific
5.4.4 South America
188.8.131.52 Rest of South America
184.108.40.206 South Africa
220.127.116.11 Rest of Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.1.1 Aquaponics Input Providers
6.1.2 Aquaponic Farms
6.2 Market Share Analysis
6.2.1 Aquaponics Input Providers
6.2.2 Aquaponic Farms
6.3 Company Profiles - Aquaponics Input Providers
6.3.1 Pentair Aquatic Eco-System Inc. (PAES)
6.3.2 Nelson & Pade Aquaponics
6.3.3 Practical Aquaponics
6.3.4 Aquaponics USA
6.3.5 The Aquaponic Source
6.4 Company Profile - Aquaponic Farms
6.4.1 Superior Fresh
6.4.2 Ouroboros Farms
6.4.3 Garden City Aquaponics Inc.
6.4.5 Deep Water Farms
6.4.6 Madhavi Farms
6.4.7 ECF Farm Berlin
7. MARKET OPPORTUNITITES AND FUTURE TRENDS
8. AN ASSESSMENT OF COVID-19 IMPACT ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Aquaponics Market market is studied from 2016 - 2026.
What is the growth rate of Aquaponics Market?
The Aquaponics Market is growing at a CAGR of 12.5% over the next 5 years.
Which region has highest growth rate in Aquaponics Market?
North America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Aquaponics Market?
North America holds highest share in 2020.
Who are the key players in Aquaponics Market?
Nelson & Pade Aquaponics, Pentair Aquatic Eco-System, Inc. (PAES), Practical Aquaponics, Aquaponics USA , The Aquaponic Source are the major companies operating in Aquaponics Market.