Newly released data by FMI shows aquaponics market size to reach US$ 1,560 million in 2023. By the end of 2033, the market is projected to attain US$ 3,415.5 million. Meanwhile, the industry is expected to prominently expand at 8% CAGR.
Small-scale farming is expanding to include aquaponics, which is a crucial breakthrough. Farmers can successfully use aquaponics technology in a business model as a cost-cutting and revenue-generating technique. In hot, humid summer months, especially, this technology is deployed.
Aquaponics finds ample usage during extreme droughts. This can be attributed to its closed-loop water-circulation system that combines fish aquaculture and vegetable cultivation. This not only saves a lot of water but also boosts crop productivity during periods of extreme drought.
Factors Leading the Global Aquaponics Market to Grow
The rising market for organic food is expected to propel the global industry forward. Sustainable agriculture approaches such as hydroponics, a vertical technique of farming, and arable farming, are extensively deployed.
Aquaponics requires the least amount of water for the cultivation of vegetables that contribute significantly to marketplace circulation. Due to increased urbanisation and industrialisation, arable lands are disappearing, which is a critical feature of aquaponic system adaptability. As per research, aquaponic agriculture generates 8 times greater food per land in one-sixth of the area required by conventional agriculture.
The aquaponics business is expected to grow due to its economic and ecological benefits. Growing awareness regarding purity of natural produce as it is devoid of pesticides and fertilisers is pushing the market growth. Expenditures in aquaponic operations, particularly on a commercially huge scale, are expanding due to increased urban agriculture and growth in the organic food market.
Aqua species waste functions as fertilisers for the plants that grow within the watery solution, reducing fertiliser costs, farm implements, and costly farm equipment. As a result of these characteristics, the aquaponic system is extremely beneficial due to its economic performance and environmental friendliness.
The increasing population and growing preference for off-season fruits and veggies are increasing the utilization of aquaponics systems. These systems help nurture the plant sustainably and organically without using toxic pesticides. Due to cost advantages of the aquaponic system and rising fish consumption, the industry is expected to rise in the following years.
Wastewater Bi-products Usage to Boost the Aquaponics Market
Aquaponics is the combination of rearing fish and growing plants inside a controlled environment. The hydroponic system takes freshwater from the aquaculture system in an aquaponic system; hence aquaponics mixes conventional hydroponics and aquaculture. When aquatic organisms' excrement mixes with water, it can kill fish. On the other side, wastewater by-products are being used as fertilisers; by-products include ammonia, which is broken into nitrites.
Aquaponics makes use of this phenomenon by using organic wastes by-products as fertilisers. Simultaneously, water that contains organic wastes is cleansed as nitrates are absorbed by plants. After which the water is recycled back into the system.
| Attribute | Details |
|---|---|
| Market Size Value in 2018 | US$ 1,335.2 million |
| Market Size Value in 2023 | USD 1,560 million |
| Market Forecast Value in 2033 | USD 3,415.5 million |
| Global Growth Rate | 8% |
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Market Share Data
| Countries | Market Share (2022) |
|---|---|
| The United States | 26.8% |
| Germany | 5.5% |
| Japan | 3.2% |
| Australia | 3.2% |
CAGR Data
| Countries | CAGR |
|---|---|
| China | 4.7% |
| India | 16% |
| The United Kingdom | 5.1% |
North America currently holds the major share of the market. The region is expected to continue its dominance during the forecast timeframe. Rising demand for naturally produced veggies and fruits, technology advances, and increased investments by various stakeholders are pushing market growth. Growing health consciousness is also propelling market growth.
The United States was indeed the market's top contributor, followed by Canada. The United States amassed a market share of 26.8% in 2022.
Trade Associations released market statistics for fruits and vegetable exports. According to the estimates, exports of these items increased by 7% to US$ 18.2 billion in 2012, up over US$ 16.15 billion in 2019. Consequently, making the United States is one of the leading markets for organically cultivated fruits and veggies.
The aquaponics market is projected to expand at a significant estimated CAGR in India over the forecast period. FMI has predicted a 16% CAGR for India from 2023 to 2033. The country holds tremendous possibilities for growth throughout the anticipated period.
Due to its cost-effective approach to producing crops, the market is expected to gain traction. Aquaponics discards the dependency on any inorganic fertilizer, consequently reducing the fertilizers’ cost.
India suffers from a lot of issues in crop production like pests, rain scarcity, and chemical treatment. These factors underscore the significance of aquaponics farming in India, as far as profitability is concerned. In the country, Cherai has gained a distinction for being the first aquaponics village in India.
Increasing popularity of aquaponics as a way to produce food is pushing market growth. Eco-friendliness, efficiency, low-cost maintenance, and less consumption of water, are all augmenting the sales of this system.
Growing demand for alternative agricultural applications that promote sustainability is projected to favor market growth. Farming is currently suffering from several issues like high groundwater salinization from pesticides/ fertilizers, reduced water availability, and soil erosion. Such a state of farming calls for better and more sustainable practices for agricultural production.
On the basis of applications, the fish segment is projected to grab a significant share over the forecast period. The fish segment is also supposed to grow at a robust pace over the following years. Changes in lifestyle and incremental gains in the global population are fueling the market growth. In addition to this, increasing fish requirements for human consumption is propelling market growth. Increasing number of pescatarians due to numerous health benefits of consuming fish and other seafood is pushing the segment growth.
Aquaponics is considered a smart way to produce fish. To support this, fish produced in an aquaponic system is 75% and 29% more effective than static and recirculatory aquaculture systems, respectively. Based on similar relevant studies, the growers are shifting to this method to raise fish.
The media filled grow beds enjoy significant popularity among small-scale farmers for their efficient design. These types of aquaponics are especially being considered in developing regions. This aquaponics cost is relatively low and is ideal for first-timers owing to its simplicity. As a result, increasing their adoption. The media bed technique can, however, become relatively expensive when executed on a larger scale.
In Indonesia, Bumina is used, which is an aquaponic technique. This strategy utilizes several small media beds linked with an in-ground fish tank. In addition to this, recycled materials can conveniently be repurposed to grab the fish and the media using this technique. Increasing adoption of media filled grow beds is projected to boost segment growth over the forecast period.
Principal Consultant
Businesses can employ any marketing strategy for aquaponics from the following to generate greater market revenue. FMI has analyzed several tactics that might suit the key players.
Superior Fresh, a family farm producing certified-organic veggies and seafood: In the year 2020, the company expanded its footprint in the greenhouse from 7 acres to 14 acres. This resulted in the aquaculture area from 50,000 to 120,000 sq feet.
Aerofarms: In the year 2019, the company came into a partnership with Dell Technologies. This led to the expansion of its technological capabilities of artificial intelligence and network systems. This partnership led to an increase in the implementation of machine learning and using it to relate data like temperature, airflow, nutrients, humidity, etc.
Aquaponics Systems: In the year 2017, the aquaponics source was shifted to Boulter from Longmont. This was done to improve the manufacturing and distribution process facilities.
The company established a reputation on its own in the aquaponics sector by providing an education system in a related field. The 60 Gallon Portable Aquaponics System is one of the most popular classroom systems, with options to showcase on wheels for portability and simpler public displays.
Key players in the global aquaponics market are:
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| Attribute | Details |
|---|---|
| Market Size Value in 2022 | USD 1,560 million |
| Market Forecast Value in 2032 | USD 3,415.5 million |
| Global Growth Rate | 8% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ million/ billion for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Chile, Peru, Argentina, Rest of LATAM, EU-4, UK, BENELUX, Nordic, Russia, Poland, Rest of Europe, China, Japan, South Korea, India, Thailand, Indonesia, Singapore, Rest of South Asia. |
| Key Market Segments Covered | Type, Component, Equipment, Application, End-user, Region |
| Key Companies Profiled | Nelson & Pade Aquaponics; Practical Aquaponics; Aquaponics USA; The Aquaponic Source; Pentair Aquatic Eco-System, Inc. |
| Pricing | Available upon Request |
The growth potential of the market is 8% through 2033.
Rising demand for high-quality, locally-produced food boosts the market growth.
Growing demand for sustainable practices.
Aquaponics is the preferred industry with a market share of 75%.
High profitable scope in emerging economies is a lucrative opportunity.
1. Executive Summary | Aquaponics Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Type, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Type, 2023 to 2033 5.3.1. Media Filled Growbeds (MFG) 5.3.2. Nutrient Film Technique (NFT) 5.3.3. Deep Water Culture (DWC) 5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Component, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Component, 2023 to 2033 6.3.1. Bio Filter 6.3.2. Settling Basins 6.3.3. Fish Tanks 6.3.4. Soil-free Plant Bed 6.3.5. Rearing Tanks 6.3.6. Others 6.4. Y-o-Y Growth Trend Analysis By Component, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Component, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Equipment 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) Analysis By Equipment, 2018 to 2022 7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Equipment, 2023 to 2033 7.3.1. Pumps and Valves 7.3.2. Water Heaters 7.3.3. Fish Purge Systems 7.3.4. Aeration Systems 7.3.5. Water Quality Testing 7.4. Y-o-Y Growth Trend Analysis By Equipment, 2018 to 2022 7.5. Absolute $ Opportunity Analysis By Equipment, 2023 to 2033 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022 8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. South Asia 8.3.5. East Asia 8.3.6. Oceania 8.3.7. MEA 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. USA 9.2.1.2. Canada 9.2.2. By Type 9.2.3. By Component 9.2.4. By Equipment 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Type 9.3.3. By Component 9.3.4. By Equipment 9.4. Key Takeaways 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Type 10.2.3. By Component 10.2.4. By Equipment 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Type 10.3.3. By Component 10.3.4. By Equipment 10.4. Key Takeaways 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. UNITED KINGDOM 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Europe 11.2.2. By Type 11.2.3. By Component 11.2.4. By Equipment 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Type 11.3.3. By Component 11.3.4. By Equipment 11.4. Key Takeaways 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Malaysia 12.2.1.3. Singapore 12.2.1.4. Thailand 12.2.1.5. Rest of South Asia 12.2.2. By Type 12.2.3. By Component 12.2.4. By Equipment 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Type 12.3.3. By Component 12.3.4. By Equipment 12.4. Key Takeaways 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Type 13.2.3. By Component 13.2.4. By Equipment 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Type 13.3.3. By Component 13.3.4. By Equipment 13.4. Key Takeaways 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 14.2.1. By Country 14.2.1.1. Australia 14.2.1.2. New Zealand 14.2.2. By Type 14.2.3. By Component 14.2.4. By Equipment 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Type 14.3.3. By Component 14.3.4. By Equipment 14.4. Key Takeaways 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 15.2.1. By Country 15.2.1.1. GCC Countries 15.2.1.2. South Africa 15.2.1.3. Israel 15.2.1.4. Rest of MEA 15.2.2. By Type 15.2.3. By Component 15.2.4. By Equipment 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Type 15.3.3. By Component 15.3.4. By Equipment 15.4. Key Takeaways 16. Key Countries Market Analysis 16.1. USA 16.1.1. Pricing Analysis 16.1.2. Market Share Analysis, 2022 16.1.2.1. By Type 16.1.2.2. By Component 16.1.2.3. By Equipment 16.2. Canada 16.2.1. Pricing Analysis 16.2.2. Market Share Analysis, 2022 16.2.2.1. By Type 16.2.2.2. By Component 16.2.2.3. By Equipment 16.3. Brazil 16.3.1. Pricing Analysis 16.3.2. Market Share Analysis, 2022 16.3.2.1. By Type 16.3.2.2. By Component 16.3.2.3. By Equipment 16.4. Mexico 16.4.1. Pricing Analysis 16.4.2. Market Share Analysis, 2022 16.4.2.1. By Type 16.4.2.2. By Component 16.4.2.3. By Equipment 16.5. Germany 16.5.1. Pricing Analysis 16.5.2. Market Share Analysis, 2022 16.5.2.1. By Type 16.5.2.2. By Component 16.5.2.3. By Equipment 16.6. UNITED KINGDOM 16.6.1. Pricing Analysis 16.6.2. Market Share Analysis, 2022 16.6.2.1. By Type 16.6.2.2. By Component 16.6.2.3. By Equipment 16.7. France 16.7.1. Pricing Analysis 16.7.2. Market Share Analysis, 2022 16.7.2.1. By Type 16.7.2.2. By Component 16.7.2.3. By Equipment 16.8. Spain 16.8.1. Pricing Analysis 16.8.2. Market Share Analysis, 2022 16.8.2.1. By Type 16.8.2.2. By Component 16.8.2.3. By Equipment 16.9. Italy 16.9.1. Pricing Analysis 16.9.2. Market Share Analysis, 2022 16.9.2.1. By Type 16.9.2.2. By Component 16.9.2.3. By Equipment 16.10. India 16.10.1. Pricing Analysis 16.10.2. Market Share Analysis, 2022 16.10.2.1. By Type 16.10.2.2. By Component 16.10.2.3. By Equipment 16.11. Malaysia 16.11.1. Pricing Analysis 16.11.2. Market Share Analysis, 2022 16.11.2.1. By Type 16.11.2.2. By Component 16.11.2.3. By Equipment 16.12. Singapore 16.12.1. Pricing Analysis 16.12.2. Market Share Analysis, 2022 16.12.2.1. By Type 16.12.2.2. By Component 16.12.2.3. By Equipment 16.13. Thailand 16.13.1. Pricing Analysis 16.13.2. Market Share Analysis, 2022 16.13.2.1. By Type 16.13.2.2. By Component 16.13.2.3. By Equipment 16.14. China 16.14.1. Pricing Analysis 16.14.2. Market Share Analysis, 2022 16.14.2.1. By Type 16.14.2.2. By Component 16.14.2.3. By Equipment 16.15. Japan 16.15.1. Pricing Analysis 16.15.2. Market Share Analysis, 2022 16.15.2.1. By Type 16.15.2.2. By Component 16.15.2.3. By Equipment 16.16. South Korea 16.16.1. Pricing Analysis 16.16.2. Market Share Analysis, 2022 16.16.2.1. By Type 16.16.2.2. By Component 16.16.2.3. By Equipment 16.17. Australia 16.17.1. Pricing Analysis 16.17.2. Market Share Analysis, 2022 16.17.2.1. By Type 16.17.2.2. By Component 16.17.2.3. By Equipment 16.18. New Zealand 16.18.1. Pricing Analysis 16.18.2. Market Share Analysis, 2022 16.18.2.1. By Type 16.18.2.2. By Component 16.18.2.3. By Equipment 16.19. GCC Countries 16.19.1. Pricing Analysis 16.19.2. Market Share Analysis, 2022 16.19.2.1. By Type 16.19.2.2. By Component 16.19.2.3. By Equipment 16.20. South Africa 16.20.1. Pricing Analysis 16.20.2. Market Share Analysis, 2022 16.20.2.1. By Type 16.20.2.2. By Component 16.20.2.3. By Equipment 16.21. Israel 16.21.1. Pricing Analysis 16.21.2. Market Share Analysis, 2022 16.21.2.1. By Type 16.21.2.2. By Component 16.21.2.3. By Equipment 17. Market Structure Analysis 17.1. Competition Dashboard 17.2. Competition Benchmarking 17.3. Market Share Analysis of Top Players 17.3.1. By Regional 17.3.2. By Type 17.3.3. By Component 17.3.4. By Equipment 18. Competition Analysis 18.1. Competition Deep Dive 18.1.1. Nelson & Pade 18.1.1.1. Overview 18.1.1.2. Product Portfolio 18.1.1.3. Profitability by Market Segments 18.1.1.4. Sales Footprint 18.1.1.5. Strategy Overview 18.1.1.5.1. Marketing Strategy 18.1.2. Practical 18.1.2.1. Overview 18.1.2.2. Product Portfolio 18.1.2.3. Profitability by Market Segments 18.1.2.4. Sales Footprint 18.1.2.5. Strategy Overview 18.1.2.5.1. Marketing Strategy 18.1.3. USA 18.1.3.1. Overview 18.1.3.2. Product Portfolio 18.1.3.3. Profitability by Market Segments 18.1.3.4. Sales Footprint 18.1.3.5. Strategy Overview 18.1.3.5.1. Marketing Strategy 18.1.4. The Aquaponic Source 18.1.4.1. Overview 18.1.4.2. Product Portfolio 18.1.4.3. Profitability by Market Segments 18.1.4.4. Sales Footprint 18.1.4.5. Strategy Overview 18.1.4.5.1. Marketing Strategy 18.1.5. Pentair Aquatic Eco-System, Inc. 18.1.5.1. Overview 18.1.5.2. Product Portfolio 18.1.5.3. Profitability by Market Segments 18.1.5.4. Sales Footprint 18.1.5.5. Strategy Overview 18.1.5.5.1. Marketing Strategy 18.1.6. Greenlife 18.1.6.1. Overview 18.1.6.2. Product Portfolio 18.1.6.3. Profitability by Market Segments 18.1.6.4. Sales Footprint 18.1.6.5. Strategy Overview 18.1.6.5.1. Marketing Strategy 18.1.7. Maruzen Pharmaceutical Co. Ltd 18.1.7.1. Overview 18.1.7.2. Product Portfolio 18.1.7.3. Profitability by Market Segments 18.1.7.4. Sales Footprint 18.1.7.5. Strategy Overview 18.1.7.5.1. Marketing Strategy 18.1.8. ASEH Licorice MFG & Exp. Co. Zelang Group 18.1.8.1. Overview 18.1.8.2. Product Portfolio 18.1.8.3. Profitability by Market Segments 18.1.8.4. Sales Footprint 18.1.8.5. Strategy Overview 18.1.8.5.1. Marketing Strategy 18.1.9. Portable Farms Systems 18.1.9.1. Overview 18.1.9.2. Product Portfolio 18.1.9.3. Profitability by Market Segments 18.1.9.4. Sales Footprint 18.1.9.5. Strategy Overview 18.1.9.5.1. Marketing Strategy 18.1.10. Aquaponic Lynx LLC 18.1.10.1. Overview 18.1.10.2. Product Portfolio 18.1.10.3. Profitability by Market Segments 18.1.10.4. Sales Footprint 18.1.10.5. Strategy Overview 18.1.10.5.1. Marketing Strategy 19. Assumptions & Acronyms Used 20. Research Methodology
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Aquaponics Market
