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Redding, California - July 16, 2024

Aquaponics Market to be Worth $2.74 Billion by 2031

Aquaponics Market Size, Share, Forecast, & Trends Analysis by System (Nutrient Film Technique, Raft System), Equipment (Grow Lights, Pumps), Facility Type (Glass Greenhouses), Product Type (Fish, Vegetables, Fruits), Application - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Aquaponics Market Size, Share, Forecast, & Trends Analysis by System (Nutrient Film Technique, Raft System), Equipment (Grow Lights, Pumps), Facility Type (Glass Greenhouses), Product Type (Fish, Vegetables, Fruits), Application - Global Forecast to 2031.’

The Aquaponics Market is expected to reach $2.74 billion by 2031, at a CAGR of 13.7% from 2024 to 2031. The growth of this market is driven by advancements in urban farming methods, a surge in fish consumption, increasing demand for organic fruits & vegetables, decreasing arable land, and changing climatic conditions.

Moreover, the increasing adoption of aquaponic systems in offices and restaurants and the rising need for sustainable agricultural practices are expected to create market growth opportunities. However, the high initial costs and demanding management requirements are some of the challenges impacting the market’s growth.

The aquaponics market is segmented by system, equipment, facility type, product type, application, and geography.

Based on system, the aquaponics market is segmented into media-based aquaponics system, nutrient film technique, raft system, and other aquaponics systems. In 2024, the media-based aquaponics system segment is expected to account for the largest share of 39.9% of the aquaponics market. The large market share of this segment can be attributed to their versatility, ease of implementation, and capability to support a wide variety of plant species. These systems offer a balanced approach by integrating aquaculture and hydroponics, making them highly popular among commercial practitioners.

Based on equipment, the aquaponics market is segmented into grow lights, pumps & valves, fish purge systems, in-line water heaters, aeration systems, and other equipment. In 2024, the grow lights segment is expected to account for the largest share of the aquaponics market. This segment’s large market share can be attributed to the growing adoption of grow lights in indoor farming and the increasing trend towards environmentally friendly production of fruits and vegetables. Grow lights play a crucial role in indoor farming by providing essential light for plant photosynthesis. Moreover, increasing awareness of alternative farming methods, driven by declining arable land and a growing population, is expected to drive the demand for grow lights.

Based on facility type, the aquaponics market is segmented into poly or glass greenhouses, indoor vertical farms, and other facility types. In 2024, the poly or glass greenhouses segment is expected to account for the largest share of the aquaponics market. The large market share of this segment can be attributed to the benefits offered by poly or glass greenhouses, such as maintaining a controlled environment, providing excellent insulation, reducing heat loss, and offering enhanced stability & durability in extreme weather conditions.

Based on product type, the aquaponics market is segmented into fish, vegetables, herbs, and fruits. In 2024, the fish segment is expected to account for the largest share of the aquaponics market. The large market share of this segment can be attributed to rapid population growth, a growing consumer preference for pescetarianism, and increasing awareness about the health benefits associated with seafood consumption. Additionally, the increasing demand for protein-rich diets as an alternative to high-calorie food products further drives the demand for fish in aquaponics systems.

Based on application, the aquaponics market is segmented into commercial, home production, and other applications. In 2024, the commercial segment is expected to account for the largest share of 46.0% of the aquaponics market. This segment’s large market share can be attributed to the increasing demand for organic food products within local markets and the need to reduce production costs while enhancing farming profitability.

However, the home production segment is projected to register the highest growth rate during the forecast period. This growth is driven by the increasing backyard production of fruits & vegetables, driven by rising health awareness & food prices. Furthermore, the growing demand for fish and the increasing popularity of urban farming drive the growth of this segment.

Based on geography, in 2024, North America is expected to account for the largest share of 41.1% of the aquaponics market, followed by Europe and Asia-Pacific. The aquaponics market in North America is expected to reach $459.0 million in 2024. North America’s significant market share can be attributed to rapid population growth, rising demand for organic products, advancements in urban farming methods, increasing consumer health awareness, and technological innovations in agricultural practices.

Key Players

The key players operating in the aquaponics market are Pentair Aquatic Eco-System, Inc. (U.S.), Nelson and Pade, Inc. (U.S.), Aquaponics USA (U.S.), Greenlife Aquaponics (U.S.), The Aquaponic Source, Inc. (U.S.), Symbiotic Aquaponic LLC (U.S.), Practical Aquaponics (Australia), ECF Farmsystems GmbH (Germany), MyAquaponics PTY Ltd (South Africa), AquaCal AutoPilot, Inc (U.S.), and Afraponix ltd (South Africa).

ownload Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5018

Key Questions Answered in the Report:

Which are the high-growth market segments in terms of system, equipment, facility type, product type, application, and geography?
What was the historical market size for aquaponics globally?
What are the market forecasts and estimates for 2024–2031?
What are the major drivers, restraints, and opportunities in the aquaponics market?
Who are the major players in the market, and what are their market shares?
What is the competitive landscape?
What are the strategies adopted by key players in the aquaponics market?
What are the key geographic trends, and which are the high-growth countries?
Who are the emerging players in the aquaponics market, and how do they compete with other players?

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Redding, California - July 16, 2024

Aquaponics Market to be Worth $2.74 Billion by 2031

Aquaponics Market Size, Share, Forecast, & Trends Analysis by System (Nutrient Film Technique, Raft System), Equipment (Grow Lights, Pumps), Facility Type (Glass Greenhouses), Product Type (Fish, Vegetables, Fruits), Application - Global Forecast to 2031

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