The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Aquaponics Global Market Report 2024, the aquaponics market is expected to show significant growth in the forecast period.

Market Overview

• The aquaponics market has seen significant growth recently.
• In 2023, the market size was $1.29 billion, projected to grow to $1.42 billion in 2024 at a CAGR of 10.0%.
• Key drivers of this growth include:
  • Environmental sustainability
  • Rising urbanization
  • Consumer demand for organic produce
  • Concerns about chemical pesticide use
  • Government subsidies and incentives

Future Market Projections

• The market is expected to continue its rapid growth, reaching $2.11 billion by 2028 with a CAGR of 10.4%.
• Factors driving future growth:
  • Impacts of climate change
  • Increasing global population
  • Regulatory support for sustainable farming practices
  • Shifting dietary preferences towards healthier options
  • Rising awareness of food miles and carbon footprint
• Major trends anticipated include:
  • Expansion of aquaponic systems in commercial agriculture
  • Development of integrated aquaponics-fisheries systems
  • Customization for niche markets
  • Integration of renewable energy sources
  • Use of blockchain technology for traceability and transparency

View More On The Aquaponics Market Report 2024 – https://www.thebusinessresearchcompany.com/report/aquaponics-global-market-report

Growing Reduction in Arable Land Drives Market Sustainability

• The reduction in arable land areas is a significant driver for the aquaponics market.
• Arable land refers to land suitable for growing crops, typically characterized by fertile soil and favorable environmental conditions.
• Factors contributing to the reduction of arable land:
  • Urbanization
  • Soil degradation
  • Land conversion for non-agricultural purposes
• Aquaponics mitigates the reduction in arable land by:
  • Enabling efficient crop cultivation in limited spaces
  • Utilizing vertical farming techniques
  • Integrating aquaculture with hydroponics for sustainable practices
• Example: In November 2023, the UK Department for Environment, Food & Rural Affairs reported a 1.3% decrease in arable crop areas in England, with cereal crops decreasing by 3.0%.

Major Companies in the Aquaponics Market

• Key players in the market include:
  • Hydrofarm
  • AquaCal
  • Stuppy Greenhouse
  • Greenlife Crop Protection Africa
  • AquaBioTech Group
  • Red Ewald
  • Portable Farms Aquaponics Systems
  • Lucky Clays Fresh
  • Practical Aquaponics
  • FUTURE FARMING
  • Pentair Aquatic Eco-System Inc.
  • Aquatic Network
  • Nelson & Pade Aquaponics
  • AquaSprouts
  • ECF Farmsystems GmbH
  • Ichthys Aquaponics
  • Symbiotic Aquaponic LLC
  • The Aquaponic Source
  • Endless Food Systems

Strategic Investments in the Restaurant Industry

• Companies are investing in aquaponics to expand operations targeting the restaurant industry.
• Strategic investments provide essential capital for:
  • Technological advancements
  • Infrastructure development
  • Scaling operations
• Example: In October 2023, The Circle launched a $0.0022 billion expansion plan, enhancing production, processing, and technological transformation.

Major Mergers in the Industry

• Example: In March 2024, Cannaray Limited merged with Aqualitas Inc.
  • This merger combines:
    • Exclusive aquaponics growing techniques
    • Clean Green Certified organic products
    • Acclaimed cannabis strains
    • Vertical integration
    • Worldwide distribution channels
    • Extensive research and innovation capabilities
  • Aqualitas Inc. specializes in aquaponic cannabis.

Market Segmentation

• The aquaponics market is segmented by:
  • Component: Bio Filter, Settling Basins, Fish Tanks, Soil-Free Plant Bed, Rearing Tanks, Aquaponic Produce, Other Components
  • Equipment: Grow Lights, Pump And Valves, Water Heaters, Water Quality Testing, Fish Pump Systems, Aeration System, Other Equipments
  • Growing Mechanism: Deep Water Culture (DWC), Nutrient Film Technique (NFT), Media Filled Grow Beds, Application Aquaponics
  • Produce: Fish, Fruits, Vegetables, Herbs
  • Application: Commercial, Home Production, Research And Education

Regional Insights

• North America was the largest region in the aquaponics market in 2023.
• Asia-Pacific is expected to be the fastest-growing region during the forecast period.

Request A Sample Of The Global Aquaponics Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=15980&type=smp

The Aquaponics Global Market Report 2024  provides an in-depth analysis on the aquaponics market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the aquaponics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Aquafeed Global Market Report 2024
Aquaculture Global Market Report 2024
Aquaculture Feed Global Market Report 2024

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