Industry Outlook and Trend Analysis
The global Aquaponics Market was worth USD 0.35 billion in 2014 and is expected to reach approximately USD 0.88 billion by 2023, while registering itself at a compound annual growth rate CAGR of 10.71% during the forecast period. Aquaponic is an incorporated system of developing fish and plants together, wherein the waste delivered by amphibian animals is useful to give supplements to plants. Under aquaponic system, hydroponic system gets water from aquaculture system in which end-products of the procedure, for example, alkali gets separated with the assistance of nitrifying microscopic organisms into nitrites first and after that into nitrates later which are then expended up as supplements by plants and after that the water is again go into aquaculture system.
Drivers and Restraints
Expanding worldwide populace is pressurizing to build the harvest yield which, thusly, is increasing the interest for aquaponics solutions to develop the product in an economical and common way without the usage of hurtful pesticides. In addition, change in urban cultivating techniques and appeal for off-seasoning foods grown from the ground are further fuelling the development of worldwide aquaponics market. The developing usage of fish will support the market development in the coming years inferable from the cost advantages of aquaponics. Rising interest for natural leafy foods will likewise push the development of worldwide aquaponics market amid the figure time frame.
The market is classified into component, equipment, product type and end user. On the basis of component the market is segmented into Bio Filter, Rearing Tanks, Settling Basins, Aquaporin Produce and Others. Based on equipment the market is segmented into n-Line Water Heaters, Grow Lights, Pumps and Valves and Fish Purge Systems. On the basis of product type the market is segmented into, Herbs, Fruits, Vegetables and Fish. On the basis of end user the market is segment into Commercial, Research and Home Production.
Regional Outlook and Trend Analysis
The Asia-Pacific region will boost the aquaponics market due to rising population base combined with rising awareness in regard to the advantages of organic farm products. Farmers in developing economies are making use of aquaponics in order to produce organic foods and fishes simultaneously.
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The leading players in the market are NutraPonics, Aquaponic Lynx LLC, Green Life Aquaponics, ECF Farm Systems GmbH, The Aquaponic Source, UrbanFarmers AG and Backyard Aquaponics. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Aquaponics Market is segmented as follows-
Pumps and Valves
Fish Purge Systems
In-Line Water Heaters
By Product Type:
By End User:
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Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
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Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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Name: Jennifer Daniel
Organization: Planet Market Reports