Aquaponics is the system of farming plants and fish together in a mutually beneficial series. It is the sustainable form of agriculture which integrates conventional aquaculture and hydroponics leading to the growth of fishes and plants together in a symbiotic environment. Waste produced by fish contains lots of beneficial nitrates and ammonia which is not good for fishes if they remain available in water in great quantity. These nitrates and ammonia containing wastes are good fertilizers for plants which can consume all these nutrients to purify the water. Many cultures are using these cycles to produce high quality crops and nurture the fishes as an additional food source. Fish are kept in large tanks and plants are grown hydroponically (i.e. without water).The efficiency of aquaponics systems is improving with the introduction of new technologies. Aquaponics are becoming popular as an ecofriendly and efficient way to produce food.
Increasing demand of organic fruits and vegetables, improvement in urban farming methods and off-season availability of fruits & vegetables are driving the aquaponics market growth from last few years. Also, low cost in terms of lesser preparation time, lower transport & storage costs of food and higher margins are the major benefits of aquaponics systems.
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The Major Key Players in Aquaponics Market are
- My Aquaponics (South Africa)
- Backyard Aquaponics Pty Ltd (Australia)
- Colorado Aquaponics (U.S.)
- Urban Farms AG (Switzerland)
- Nelson & Pade Inc. (U.S.)
- ECF Farmsystems GmbH (Germany)
- Greenlife Aquaponics (U.S.)
Global aquaponics market is fragmented in different application sectors such as commercial, educational institutes, home food production which provides lots of opportunities to key players for investments and it is easy for key players to establish a new trend in aquaponics market as there is lots of scope in aquaponics market. Aquaponics manufacturers are focusing on research and developments activities to improve efficiency of aquaponics systems with the help of new technologies.
Globally the aquaponics market is mainly driven by increasing demand of organic food products especially fruits, vegetables and herbs and improvement in urban farming system. Rising awareness about health benefits of fish consumption has increased the consumption of fishes across globe which is supporting the growth of aquaponics market. Increasing use of aquaponics for research purpose is also driving the market growth. Introduction of innovative technologies in aquaponics culture to boost its efficiency is influencing the growth of the market. Growing popularity of aquaponics among farmers due to its cost advantages benefits is playing a key role in the growth of aquaponics market.
These factors will play a key role in the growth of aquaponics market at the CAGR of 7.5% during 2016-2022.
Global Aquaponics Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these North-America region has the major market share in Aquaponics market whereas Asia-Pacific aquaponics market is projected to grow at the highest CAGR in the review period. Increasing population and demand for organic food products is supporting the aquaponics market growth in Asia Pacific region.
LIST OF TABLES
TABLE 1 PESTLE ANALYSIS – U.S.
TABLE 2 PESTLE ANALYSIS- IRELAND
TABLE 3 PESTLE ANALYSIS- CHINA
TABLE 4 PESTLE ANALYSIS- JAPAN
TABLE 5 PESTLE ANALYSIS- GERMANY
LIST OF FIGURES
FIGURE 1 RESEARCH METHODOLOGY
FIGURE 2 PRIMARY DATA ANALYSIS APPROACH
FIGURE 3 SECONDARY DATA ANALYSIS APPROACH
FIGURE 4 TREND IN AQUAPONICS IMPORTS 2012-15
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