Aquaponics Market Report Insights and Industry Analysis by Produce (Fish, Fruits & Vegetables and others), Components (Rearing Tank, Sump Tank and others), Equipment (Pumps and Valves, Grow Lights, Aeration Systems and others), Application (Commercial, Home Food Production and others), Region, Competitive Market Size, Share, Trends, and Forecast, 2018 – 2024
Pune, India, July 26, 2019 (GLOBE NEWSWIRE) -- Aquaponics Market is poised to touch USD 1.34 Billion by 2024 at an Impressive 13.4% CAGR during the forecast period (2018-2024), reveals the latest report by Market Research Future (MRFR).
Food scarcity is a significant factor in boosting the popularity and demand for the aquaponics market globally. Focused market reports associated with the agriculture industry among others lately have been made available by Market Research Future which issues reports on this industry. The market is estimated to gain a significant market share owing to a highly positive CAGR rate in the forecast period.
The emerging economies around the world are the primary motivators in the growth of the aquaponics market. The scarcity of resources especially land resources is the boosting the development of the market at a breakthrough pace. The home food production application of the aquaponics is quickly gaining traction to increase the market size significantly. The organic food source in the aquaponics system is a critical factor contributing to the growth of the market in a significant way. Emerging trends for urban farming and organic food product will contribute to the development of the market in the forecast period.
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Key Players and Industry Buzz
The strategic competitors profiled in the Aquaponics Market are Backyard Aquaponics Pty Ltd (Australia), Nelson & Pade Inc. (U.S.), Colorado Aquaponics (U.S.), Urban Farms AG (Switzerland), My Aquaponics (South Africa), ECF Farmsystems GmbH (Germany), and Greenlife Aquaponics (U.S.) to name a few.
By ensuring supply and demand are in balance, the competitors can capture new opportunities for growth. The noticeable trends and players have led to a positive tone for development. The contenders in the market have been stimulated to ideate strategic roadmaps that exploit on the constructive market cues. The forecast for growth and innovation has improved at a prompt pace changing the market. The important trends and players have established a positive tone for development. The inducement for the market’s growth has improved the competitive backdrop of the market. The ideal opportunities are being engaged and converted to modifying the growth pace of the market substantially.
April 22nd, 2019, students from the Pittsburg State University announced that they are developing a sustainable food production project, by the Students for Sustainability platform, in a greenhouse roottop of the Heckert-Wells Hall.
Feb 2018 Stars Hollow Co., which is an Aquaponics startup will generate 156 jobs and spend approximately $12.3 million to construct a new facility in Cambridge. The company, which plans to construct the 164,000-square-foot warehouse, office and production facility in the Cam-bridge Opportunity Industrial Park, has stated that it will raise koi fish and cultivate organic produce, fruits, and herbs. The new jobs will be generated within three years and pay wages close to $21.17 an hour. The Minnesota Department of Employment and Economic Development (DEED) is backing up the project with an $812,960 grant from the Job Creation Fund. The company will collect the funding once it has completed its hiring and investment commitments.
The global Aquaponics Market is divided based on Equipment, Production Type, Component, Application and Region. Based on production type, the segment includes Fish, Herbs, Vegetables & Fruits and others. the equipment-based segmentation of the market includes pumps & valves, grow lights, water quality testing, fish purge systems, water heaters, aeration systems and others. The segmentation based on component comprises of sump, biofilter, rearing tanks, hydroponics subsystem, settling basin, and others. The application segmentation of the market comprises of home commercial, food production, education & research and others. The regions included in the market are Europe, North America, Asia Pacific and ROW.
Browse the Industry data and Information spread across 110 pages with 93 data tables and 14 figures of the report “Aquaponics Market Report - Forecast 2018-2024” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/aquaponics-market-2257
The Aquaponics Market is segmented into North America, APAC, Europe and rest of the world (ROW). The North American region has the key market share in the aquaponics market. Demand for organic food products and growing population is backing the aquaponics market growth in the Asia Pacific region which is anticipated to develop at an encouraging CAGR rate. Improvement in technology to enrich the efficiency of an aquaponics system is stimulating the market growth in the North American and European region.
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