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?
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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?
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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?
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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.
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Aquaponics Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.62% |
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Market growth 2021-2025 |
$ 360.08 million |
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Market structure |
Fragmented |
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YoY growth (%) |
8.20 |
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Regional analysis |
North America, Europe, APAC, South America, MEA, North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 43% |
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Key consumer countries |
US, China, UK, Canada, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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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. |
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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 |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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