Aquaponics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

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, Catfish, 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). The market size is provided in USD million.

Aquaponics Industry Overview

Aquaponics Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: North America
Largest Market: North America
CAGR: 9.6 %

Major Players

Aquaponics Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Aquaponics Market Analysis

The aquaponics market is estimated to register a CAGR of 9.6% during the forecast period (2022-2027). The COVID-19 pandemic majorly impacted the supply chain of the aquaponics market. Supply chain disruptions amid the pandemic led farmers to rear many live fishes and other aquatic species, which negatively impacted the farmers' cost, expenditure, and risk.

In 2021, North America occupied the largest share in the aquaponics market. The United States contributed the largest share in the region, followed by Canada. Aquaponic is a small but rapidly growing industry in the region, with several partnerships among educational and research institutions and private companies. This factor played a pivotal role in establishing and increasing awareness about aquaponic farms. 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.

Aquaponics Industry Segments

Aquaponics refer to the combination of traditional 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, catfish, 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). The market size in the report is provided in USD million.

Growing System
Media Filled Beds
Constant Flow
Ebb and Flow (Flood and Drain)
Nutrient Film Technique (NFT)
Raft or Deep Water Culture (DWC)
Facility Type
Poly or Glass Greenhouses
Indoor Vertical Farms
Other Facility Types
Fish Type
Tilapia
Catfish
Carp
Trout
Ornamental Fish
Other Fish Types
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
United Kingdom
France
Germany
Italy
Rest of Europe
Asia-Pacific
China
India
Malaysia
Indonesia
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Africa
South Africa
Rest of Africa

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Aquaponics Market Trends

This section covers the major market trends shaping the Aquaponics Market according to our research experts:

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. As reported by the Organic Trade Association, sales of organic fruits and vegetables rose by 5.6% to USD 17.40 billion in 2018 from USD 16.42 billion in the previous year. Thus, the United States became 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 ha 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 aquaponics industry during the forecast period.

Aquaponics Market: Organic Retail Sales, USD million, Global, 2017-2019

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 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 at the Aquaculture America Conference in 2018. Currently, the United States imports more than 80.0% of the seafood it consumes annually. The rising number of aquaponic farms in the country may help it reduce its seafood import over time.

Global Aquaponics Market: Market Size by Region, 2021

Aquaponics Market Competitor Analysis

The 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. Some 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 are strategizing product launches and capacity expansions to secure a substantial share in the market studied.

Aquaponics Market Top Players

  1. Nelson & Pade Aquaponics

  2. Pentair Aquatic Eco-System, Inc. (PAES)

  3. The Aquaponic Source

  4. Hydrofarm

*Disclaimer: Major Players sorted in no particular order

Aquaponics Market Concentration

Aquaponics Market Recent Developments

In April 2021, France-based indoor farming company Les Nouvelles Fermes raised EUR 2 million (approximately USD 2.4 million) in its first round of funding by the investors from IRDI, the Banque des Territoires, Crédit Agricole Aquitaine, and the CIC. With this funding, the company plans to build the largest aquaponic farm in Europe.

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 this 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.

Aquaponics Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitutes

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Growing System

      1. 5.1.1 Media Filled Beds

        1. 5.1.1.1 Constant Flow

        2. 5.1.1.2 Ebb and Flow (Flood and Drain)

      2. 5.1.2 Nutrient Film Technique (NFT)

      3. 5.1.3 Raft or Deep Water Culture (DWC)

    2. 5.2 Facility Type

      1. 5.2.1 Poly or Glass Greenhouses

      2. 5.2.2 Indoor Vertical Farms

      3. 5.2.3 Other Facility Types

    3. 5.3 Fish Type

      1. 5.3.1 Tilapia

      2. 5.3.2 Catfish

      3. 5.3.3 Carp

      4. 5.3.4 Trout

      5. 5.3.5 Ornamental Fish

      6. 5.3.6 Other Fish Types

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

        4. 5.4.1.4 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 United Kingdom

        2. 5.4.2.2 France

        3. 5.4.2.3 Germany

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 India

        3. 5.4.3.3 Malaysia

        4. 5.4.3.4 Indonesia

        5. 5.4.3.5 Australia

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Africa

        1. 5.4.5.1 South Africa

        2. 5.4.5.2 Rest of Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

      1. 6.1.1 Aquaponics Input Providers

      2. 6.1.2 Aquaponic Farms

    2. 6.2 Market Share Analysis

      1. 6.2.1 Aquaponics Input Providers

      2. 6.2.2 Aquaponic Farms

    3. 6.3 Company Profiles - Aquaponics Input Providers

      1. 6.3.1 Pentair Aquatic Eco-System Inc. (PAES)

      2. 6.3.2 Nelson & Pade Aquaponics

      3. 6.3.3 Practical Aquaponics

      4. 6.3.4 Aquaponics USA

      5. 6.3.5 The Aquaponic Source

    4. 6.4 Company Profile - Aquaponic Farms

      1. 6.4.1 Superior Fresh

      2. 6.4.2 Ouroboros Farms

      3. 6.4.3 Garden City Aquaponics Inc.

      4. 6.4.4 BIGH

      5. 6.4.5 Deep Water Farms

      6. 6.4.6 Madhavi Farms

      7. 6.4.7 ECF Farm Berlin

  7. 7. MARKET OPPORTUNITITES AND FUTURE TRENDS

  8. 8. AN ASSESSMENT OF COVID-19 IMPACT ON THE MARKET

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Aquaponics Market Research FAQs

The Aquaponics Market is studied from 2018 - 2028.

The Aquaponics Market is growing at a CAGR of 9.6% over the next 5 years.

North America is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

Nelson & Pade Aquaponics, Pentair Aquatic Eco-System, Inc. (PAES), The Aquaponic Source , Hydrofarm are the major companies operating in Aquaponics Market.

Aquaponics Industry Reports

In-depth industry statistics and market share insights of the Aquaponics sector for 2020, 2021, and 2022. The Aquaponics research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Aquaponics report PDF.

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