Pune, India -- (SBWIRE) -- 10/19/2018 -- Market Overview:
The term "Aquaponics" is derived from the combination of hydroponics and aquaculture. Aquaponics is growing at a significant pace globally, owing to various benefits associated with this system. Aquaponic systems is a method in which there can be production of fish and crops under one roof. This method is also helpful in growing off season fruits & vegetables owing to high level of nutrient utilization in the method. This acts as a major source of income for the aquaponics producers. The producers can capitalize on much higher seasonal prices. Moreover, growing demand for superior quality food among the consumers is one of the major driving factor for aquaponics market.
Aquaponics have various advantages over traditional farming system such as low water consumption, accelerated plant growth rates, and feasibility of producing multiple crops simultaneously. Also, the system is suitable for use in urban as well as rural areas with availability of limited land. It is observed that vegetables are produced in large quantities through aquaponics system. Additionally, growing trend of organic crops among the population will boost the growth of aquaponics system in the coming years.
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Latest Industry Updates:
Jun 2017 ECF Farmsystems received a major contract from the company Building Integrated Greenhouses (BIGH) to construct an urban aquaponic roof farm in Brussel, Europe. ECF and BIGH are planning to build more aquaponics farms in Belgium, France, Italy, and Luxembourg in the coming years
Jul 2017 ECF Farmsystems aquaponically grown "Capital Basil" is now available in all REWE stores in Berlin-Brandenburg region.
Feb 2016 ECF Farmsystems successfully launched one of the largest aquaponic roof system in Switzerland for one of its customer.
Competitive Analysis:
The key players in this market are highly aiming at geographical expansions to cater a significant market share. Moreover, they are coming up with variety in products to widen their product offerings. Also, strategic acquisitions and mergers are among the developments undergone by the key players which strengthens their future opportunities and these developments overall assist the growth of aquaponics market worldwide.
The key players profiled in Aquaponics Market are My Aquaponics (South Africa), UrbanFarmers AG (Switzerland), Nelson & Pade Inc. (U.S.), ECF Farmsystems GmbH (Germany), Backyard Aquaponics Pty Ltd (Australia), Colorado Aquaponics (U.S.) and Greenlife Aquaponics (U.S.) among many others.
Market Segments:
The global Aquaponics market has been divided into equipment, component, application and region.
On The Basis Of Equipment: Pumps and Valves, Grow Lights, Water Heaters, Water Quality Testing, Fish Purge Systems, Aeration Systems, and others
On The Basis Of Component: Sump, Rearing Tanks, Biofilter, Hydroponics Subsystem, Settling Basin and others
On the Basis Of Application: Home Food Production, Commercial, Education & Research, and others
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW
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Regional Analysis:
Based on region, the Global Aquaponics Market is segmented into Europe, North America, Asia Pacific, and rest of the world (ROW). North America is projected to dominate the market share in the global Aquaponics market. However, increasing population and growing demand for organic food products in Asia Pacific is supporting the aquaponics market growth in this region which is projected to grow at the highest CAGR during the forecast period. Moreover, technological advancements to enhance efficiency of aquaponics system, is boosting the market growth in Europe region.