The North America Aquaponics Market would witness market growth of 12.9% CAGR during the forecast period (2023-2030).
The term aquaponics is derived from the terms aquaculture and hydroponics, both of which refer to the practice of cultivating plants without soil. The target market includes the tools and materials needed to assemble an aquaponics system. As this system avoids using chemical fertilizers and pesticides, it has enormous growth potential in the upcoming years. Organic fruits & vegetables are in great demand, and in the years to come, the organic trend is predicted to gain more traction, supporting the expansion of the market.
The need for these systems is anticipated to rise dramatically due to the rising food demand brought on by the population's exponential growth and the limited availability of water & land resources. In addition, the demand for produce from aquaponics agriculture over conventional agriculture will also be driven by the higher quality of output obtained with these systems.
The expertise of new and improved technologies, commercial farming systems demonstrates high-end scalability and versatility. Due to these systems' high degree of modularity and their reasonably priced reinstallation, shipping, packaging, and delivery costs, the market has flourished. The key forces behind this farming innovation's adoption are its efficiency compared to single production methods and the minimal resource requirements.
The market is steadily expanding as a result of the rising demand for organic foods & alternative food production methods that use less water, fertilizer, and pesticides. This market will continue to expand as consumer awareness of climate change and sustainable agriculture rises. The market has been driven by North America to grow organic plants and vegetables in short cycles of 30 days rather than the traditional 60 days period as well as provide higher quality or nutrition than traditional methods of agriculture. North America is expected to experience significant development during the forecast period.
The US market dominated the North America Aquaponics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $505.6 million by 2030. The Canada market is poised to grow at a CAGR of 15.4% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 14.4% during (2023 - 2030).
Based on Facility Type, the market is segmented into Greenhouse, Building Based Indoor Farms and Others. Based on Equipment, the market is segmented into Pumps & Valves, Grow Light, Aeration Systems, Water Heaters and Others. Based on Component, the market is segmented into Rearing Tank, Settling Basin, Bio-Filters, Sump Tank, and Others. Based on Produce, the market is segmented into Fish, Fruits & Vegetables and Others. Based on Application, the market is segmented into Commercial, Home Production and Research & Education. Based on Growing Mechanism, the market is segmented into Media Filled Grow Beds, Nutrient Film Technique (NFT), Deep Water Culture (DWC) and Vertical Aquaponics. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Aquaponics Market is Projected to reach USD 2.3 Billion by 2030, at a CAGR of 13.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nelson and Pade, Inc., The Aquaponic Source, Inc., Practical Aquaponics (Pty)Ltd., Green Life Aquaponics, Backyard Aquaponics Pty Ltd, Aquaponic Lynx LLC, Portable Farms Aquaponics Systems, Stuppy Greenhouse, Inc., Aquaponik manufactory GmbH and Aponic Ltd.
By Facility Type
By Equipment
By Component
By Produce
By Application
By Growing Mechanism
By Country
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