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Aquaponics Market by Technique, Application, and Geography - Forecast and Analysis 2021-2025

  • Published: Mar 2021
  • Pages: 120
  • SKU: IRTNTR43942
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The aquaponics market share is expected to increase by USD 360.08 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.62%.

This aquaponics market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers aquaponics market segmentation by technique (DWC, NFT, and media-filled bed), application (fish and plants), and geography (North America, Europe, APAC, South America, and MEA). The aquaponics market report also offers information on several market vendors, including Aponic Ltd., AquaCal AutoPilot Inc., Aquaculture Systems Technologies LLC, Aquaponic Lynx LLC, Backyard Aquaponics Pty Ltd., ECF Farmsystems GmbH, Greenlife Aquaponics, Nelson and Pade Inc., Pentair Plc, and The Aquaponic Source Inc. among others.

What will the Aquaponics Market Size be During the Forecast Period?

Aquaponics Market Size

Download the Free Report Sample to Unlock the Aquaponics Market Size for the Forecast Period and Other Important Statistics

 

Aquaponics Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and after the post-COVID-19 era. The growing number of aquaponic farm tours and study visits is notably driving the aquaponics market growth, although factors such as high set-up costs and maintenance costs for aquaponics may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the aquaponics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Aquaponics Market Driver

One of the key factors driving the aquaponics market is the growing number of aquaponic farm tours and study visits. Visiting aquaponic farms is among the main tourist attractions in North American and European countries, such as the US, Canada, Italy, France, and the UK, especially for potential customers and researchers in the agriculture industry. Several aquaponic tours are organized every year in these countries, and the number of tourists visiting aquaponic farms is increasing every year. Furthermore, major commercial producers of aquaponic vegetables and fish are focusing on aquaponic tourism to upgrade the knowledge of people on the latest innovations and techniques of aquaponics. Various market vendors and aquaponic farmers are offering aquaponic tours and study visits in their establishments and operational places, where visitors are offered access to the aquaponic mechanisms and processes to get a better understanding of the technology. For instance, Ouroboros Farms, based in the US, offers public tours, private tours, and virtual tours for students, clients, and researchers. Therefore, the growing number of aquaponic farm tours and study visits are expected to gradually drive the growth of the market in focus with respect to a new clientele base during the forecast period.

Key Aquaponics Market Trend

Growing inclination toward Climate-Smart Agriculture (CSA) practices is another factor supporting the aquaponics market growth in the forecast period. CSA is an approach that reduces the environmental impact and ensures food security during climate change and helps in achieving a sustainable food system. Furthermore, in fisheries, climate variation leads to the reduction of fish availability. The fisheries, vegetables, and fruits industries play a key role in supporting livelihoods and ensuring food and nutrition security. So, the CSA methods like aquaponics help in reducing the impact of climate change on the growth of fish and plants. The favorable growing conditions for fish, fruits, and vegetables are created artificially in aquaponics. This makes it resilient to climate change. So, the production in aquaponics systems is not affected by soil erosion, drought, and changes in rain patterns. Moreover, the security toward climate change offered by aquaponics has encouraged many farmers to adopt aquaponics systems. Therefore, such an inclination toward CSA practices such as aquaponics is likely to fuel the growth of the market during the forecast period.

Key Aquaponics Market Challenge

High set-up costs and maintenance costs for aquaponics will be a major challenge for the aquaponics market during the forecast period. Aquaponics systems require substantial investment to set up, based on the crop to be grown. Furthermore, the annual maintenance cost of aquaponics consists of the electricity cost for the water pump that circulates water through the aquaponics system. The fish tank also needs to be maintained at a certain temperature. Therefore, the continuous power requirements also increase the need for proper power backup facilities in the aquaponic atmosphere. It may also increase the overall set-up cost for aquaponics. In indoor set-ups, required temperature artificial lightings need to be maintained to provide favorable conditions for the plant growth, thereby incurring additional cost. Likewise, farmers require a license for aquaponic food production. For instance, farmers in Florida require the Florida Department of Agriculture and Consumer Services license. This license requirement results in additional cost, as it can be significantly expensive for numerous small-sized aquaponics farmers. Hence, these factors may affect the growth of the market during the forecast period.

This aquaponics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global aquaponics market as a part of the global agricultural and farm machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the aquaponics market during the forecast period.

Who are the Major Aquaponics Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Aponic Ltd.
  • AquaCal AutoPilot Inc.
  • Aquaculture Systems Technologies LLC
  • Aquaponic Lynx LLC
  • Backyard Aquaponics Pty Ltd.
  • ECF Farmsystems GmbH
  • Greenlife Aquaponics
  • Nelson and Pade Inc.
  • Pentair Plc
  • The Aquaponic Source Inc.

 

This statistical study of the aquaponics market encompasses successful business strategies deployed by the key vendors. The aquaponics market is fragmented and the vendors are deploying growth strategies such as price and quality to compete in the market.

Product Insights and News

  • Honda Motor Co. Ltd. - The company manufactures steering systems for its ATVs.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The aquaponics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Aquaponics Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the aquaponics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global agricultural and farm machinery market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated other innovative approaches being followed by manufacturer providers to ensure a sustainable market presence.

 

Which are the Key Regions for Aquaponics Market?

Aquaponics Market Market segmentation by region

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43% of the market's growth will originate from North America during the forecast period. The US is the key market for the aquaponics market in North America. Market growth in this region will be faster than the growth of the market in other regions.

The problem of water shortage in certain states in the country has encouraged farmers to adopt farming practices that require less water use will facilitate the aquaponics market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

With the outbreak of the COVID-19 pandemic in early 2020 and the growing number of COVID-19 cases, the regional aquaponics market has witnessed several limitations in terms of sales due to the restrictions on operational and maintenance costs by operators of agricultural and farm machinery in 2020. However, in 2021, the demand for aquaponic equipment from end-users of agricultural and farm machinery in the agriculture sector has surged and registered considerable demand growth. Therefore, vendors in the market in focus are expected to register higher sales of aquaponic equipment in 2021, primarily due to the need to replace older equipment in existing aquaponic systems.

What are the Revenue-generating Technique Segments in the Aquaponics Market?

Aquaponics Market Segmentation

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The aquaponics market share growth by the DWC segment during the forecast period. The roots of the plants are submerged in water in the DWC aquaponics technique, as there is no need for drying water from the grow bed. Also, the nutrients get added during the process of water circulation. The DWC aquaponics technique provides a stable environment for fish and plants without any fluctuations in pH or temperature. The raft tanks in the system reduce the chances of water problems due to the continuous circulation and filtration of water. Therefore, such factors will fuel the growth of the market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the aquaponics market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Aquaponics Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 8.62%

Market growth 2021-2025

$ 360.08 million

Market structure

Fragmented

YoY growth (%)

8.20

Regional analysis

North America, Europe, APAC, South America, MEA, North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 43%

Key consumer countries

US, China, UK, Canada, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aponic Ltd., AquaCal AutoPilot Inc., Aquaculture Systems Technologies LLC, Aquaponic Lynx LLC, Backyard Aquaponics Pty Ltd., ECF Farmsystems GmbH, Greenlife Aquaponics, Nelson and Pade Inc., Pentair Plc, and The Aquaponic Source Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Aquaponics Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive aquaponics market growth during the next five years
  • Precise estimation of the aquaponics market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the aquaponics industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of aquaponics market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis – Agricultural and farm machinery market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Fiver forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Application

    • 5.1 Fish
      • 5.2 Plants

        6 Market Segmentation by Technique

        • 6.1 Market segments
          • 6.2 Comparison by Technique
            • 6.3 DWC - Market size and forecast 2020-2025
              • 6.4 NFT - Market size and forecast 2020-2025
                • 6.5 Media-filled bed - Market size and forecast 2020-2025
                  • 6.6 Market opportunity by Technique

                    7 Customer landscape

                    8 Geographic Landscape

                    • 8.1 Geographic segmentation
                      • 8.2 Geographic comparison
                        • 8.3 North America - Market size and forecast 2020-2025
                          • 8.4 Europe - Market size and forecast 2020-2025
                            • 8.5 APAC - Market size and forecast 2020-2025
                              • 8.6 South America - Market size and forecast 2020-2025
                                • 8.7 MEA - Market size and forecast 2020-2025
                                  • 8.8 COVID-19 pandemic impact and recovery in the global market
                                    • 8.9 Key leading countries
                                      • 8.10 Market opportunity by geography

                                        9 Drivers, Challenges, and Trends

                                        • 9.1 Market drivers
                                          • 9.2 Market challenges
                                            • 9.3 Market trends

                                              10 Vendor Landscape

                                              • 10.1 Overview
                                                • 10.2 Landscape disruption

                                                  11 Vendor Analysis

                                                  • 11.1 Vendors covered
                                                    • 11.2 Market positioning of vendors
                                                      • 11.3 Aponic Ltd.
                                                        • 11.4 AquaCal AutoPilot Inc.
                                                          • 11.5 Aquaculture Systems Technologies LLC
                                                            • 11.6 Aquaponic Lynx LLC
                                                              • 11.7 Backyard Aquaponics Pty Ltd.
                                                                • 11.8 ECF Farmsystems GmbH
                                                                  • 11.9 Greenlife Aquaponics
                                                                    • 11.10 Nelson and Pade Inc.
                                                                      • 11.11 Pentair Plc
                                                                        • 11.12 The Aquaponic Source Inc.

                                                                          12 Appendix

                                                                          • 12.1 Scope of the report
                                                                            • 12.2 Currency conversion rates for US$
                                                                              • 12.3 Research methodology
                                                                                • 12.4 List of abbreviations

                                                                                  Research Framework

                                                                                  Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                                                                                  TechnavioINFORMATION SOURCES

                                                                                  Primary sources

                                                                                  • Manufacturers and suppliers
                                                                                  • Channel partners
                                                                                  • Industry experts
                                                                                  • Strategic decision makers

                                                                                  Secondary sources

                                                                                  • Industry journals and periodicals
                                                                                  • Government data
                                                                                  • Financial reports of key industry players
                                                                                  • Historical data
                                                                                  • Press releases
                                                                                  Technavio

                                                                                  TechnavioDATA ANALYSIS

                                                                                  Data Synthesis

                                                                                  • Collation of data
                                                                                  • Estimation of key figures
                                                                                  • Analysis of derived insights

                                                                                  Data Validation

                                                                                  • Triangulation with data models
                                                                                  • Reference against proprietary databases
                                                                                  • Corroboration with industry experts
                                                                                  Technavio

                                                                                  TechnavioREPORT WRITING

                                                                                  Qualitative

                                                                                  • Market drivers
                                                                                  • Market challenges
                                                                                  • Market trends
                                                                                  • Five forces analysis

                                                                                  Quantitative

                                                                                  • Market size and forecast
                                                                                  • Market segmentation
                                                                                  • Geographical insights
                                                                                  • Competitive landscape
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                                                                                  Aquaponics Market market growth will increase by $360.08 mn during 2021-2025.
                                                                                  The aquaponics market market is expected to grow at a CAGR of 8.62% during 2021-2025.
                                                                                  Technavio has segmented the aquaponics market market by technique (DWC, NFT, and media-filled bed) ,application (fish and plants) , and geography (North America, Europe, APAC, South America, and MEA).
                                                                                  Aponic Ltd., AquaCal AutoPilot Inc., Aquaculture Systems Technologies LLC, Aquaponic Lynx LLC, Backyard Aquaponics Pty Ltd., ECF Farmsystems GmbH, Greenlife Aquaponics, Nelson and Pade Inc., Pentair Plc, The Aquaponic Source Inc. are a few of the key vendors in the aquaponics market market.
                                                                                  North America will register the highest growth rate of 43% among the other regions. Therefore, the aquaponics market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
                                                                                  The key factors driving the aquaponics market market growth are:
                                                                                  • Growing number of aquaponic farm tours and study visits
                                                                                  • Growing inclination toward Climate-Smart Agriculture ( CSA ) practices
                                                                                  The aquaponics market market vendors should focus on grabbing business opportunities from the dwc segment as it accounted for the largest market share in the base year.
                                                                                  • What are the key global market and the regional market share?
                                                                                  • What are the revenue-generating key market segments?
                                                                                  • What are the key factors driving and challenging this market’s growth?
                                                                                  • Who are the key market vendors and their growth strategies?
                                                                                  • What are the latest trends influencing the growth of this market?
                                                                                  • What are the variables influencing the market growth in the primary regions?
                                                                                  • What are the factors influencing the growth of the parent market?
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