Aquaponics Market To Report Impressive Growth, Revenue To Surge To US$1.3 Billion By 2024

With the presence of a large pool of participants, the Global aquaponics market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Aquaponic Lynx LLC, Greenlife Aquaponics, Aqua Allotments, Backyard Aquaponics Pty Ltd., The Aquaponic Source, UrbanFarmers AG, ECF Farmsystems GmbH, and Nelson and Pade Incorporation  are some of the key vendors of aquaponics across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the aquaponics market study.

Citing an instance, in October 2018, the University of New Hampshire declared that it completed a two-year project for constructing aquaponics research unit in Madbury. Reportedly, officials stated that three Aquaponic greenhouses in Madbury will assist researchers in growing crops such as lettuce from nutrient-rich wastewater that is derived from the fish farming. For the record, the project received funds from N.H. Sea Grant and the U.S. Department of Agriculture.

Browse the full "Aquaponics Market by Product (Fish, Herbs, Fruits, and Vegetables), by Components (Bio Filter, Rearing Tanks, Settling Basins, Hydroponics subsystem, and Others): Global Industry Perspective, Comprehensive Analysis And Forecast, 2015-2024" report at https://www.zionmarketresearch.com/report/aquaponics-market  

As estimated in this report, the global aquaponics market stood at US$ 0.49 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2024, the revenue in this aquaponics market is expected to reach US$ 1.3 billion by the end of the forecast period. The main products available in this aquaponics market are fish, herbs, fruits, and vegetables. Among them, the demand for vegetables is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.

Humungous Demand For Organics Fruits & Vegetables To Spur Market Growth

“Rising demand for organic fruits and vegetables along with massive technological innovations & funding of aquaponics is projected to spur aquaponics market growth trends in the ensuing years,” says the author of this study. Apart from this, rise in the global population has resulted in need for enhancing the crop yield, thereby propelling the aquaponics market demand over the years ahead.

Massive consumption of electricity along with initial high set up costs, however, can obstruct the growth of aquaponics market in the years ahead.

Massive Invests In Aquaponics To Drive The North American Dominance

Regionally, North America has been leading the worldwide aquaponics market and is anticipated to continue on the dominant position in the years to come, states the aquaponics market study. Increase in technological innovation and rising investment in aquaponics is the main factor behind the dominance of the North America aquaponics market.  In addition, rising demand for organic fruits and vegetables along with surging disposable income will further contribute towards North America aquaponics market in the years ahead. The high number of market players being headquartered in North America is another significant factor that is supporting the growth of this regional aquaponics market.

The global aquaponics market is segmented as follows:

By Product

• Fish
• Herbs
• Fruits
• Vegetables 

By Component

• Bio Filter
• Rearing Tanks
• Settling Basins
• Hydroponics subsystem
• Others 

By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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