Aquaponics Market is anticipated to grow at a healthy 22.10% CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Aquaponics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global needles market accounted for over US$ 552.35 Mn (estimated) in 2019. It is anticipated to grow at a healthy 22.10% CAGR from 2019 to 2030.
The global aquaponics market is driven by the factor such as changes in climatic conditions enhancing the growth of aquaponics. Moreover, aquaponics is advantageous over traditional farming methods. The continuously changing energy balance of earth has led to climatic changes that are not favorable for agricultural practice. This further leads to water & food scarcity in some regions. As a result, the demand for alternative agricultural practices, which are more sustainable is on the rise.
The aquaponics farming technique has several advantages over traditional farming practices. Some of the advantages that aquaponics offers over traditional farming are such as requires less water, simulation of the natural ecosystem in a closed container, requires less maintenance and there is no need for fertilizers and fertile lands for performing this farming technique. Hence, aquaponics help in enhancing productivity through minimum input resource requirements. Moreover, aquaponics helps to accelerate the time for crop production. For instance, growing butterhead lettuce varieties take approximately 60 days with traditional farming practices; however, they can be grown in approximately 30 days through aquaponics.
Although aquaponics farming is economic in the long run, its initial setup cost is high. The average cost for materials per unit is low; however, commercial- level set up is expensive, as the system is set up at a large-scale with more number of resources. The high initial investments involved have been restraining market growth to a certain extent.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Aquaponics Market by Production Type (Fish, Vegetables & Fruits, and Herbs), Equipment (Pumps & Valves, Grow Lights, Water Heaters, Water Quality Testing, Fish Purge Systems, and Aeration Systems), Component (Sump, Rearing Tanks, Biofilter, Hydroponics Subsystem, and Settling Basin), Application (Commercial, Home Food Production, and Education & Research) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/aquaponics-market/194
The Asia Pacific region is estimated to account for the highest CAGR in the aquaponics market over the forecast period owing to factors such as advancements in technology and rising awareness of organic food among the population. Moreover, countries such as India and China, among other developing countries, have flourishing agriculture sectors.
Some of the prominent players in the needles market include PentairAES, Nelson & Pade Aquaponics, GreenLife Aquaponics, The Aquaponics Source, Endless Food Systems, Symbiotic Aquaponic, Practical Aquaponics, SynergyPonics, The Aquaponics Place LLC, and AquaCal, among others.
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