Some of the other factors that are helping the global aquaponics market take a high trajectory include the high savings on money, y reducing the need for too much space.
San Francisco, CA -- (SBWIRE) -- 01/13/2020 -- A higher demand for food that is grown organically is contributing to the growth of global aquaponics market in a massive way. In the United States alone, the demand increase has been substantial – close to 20% per year. In 1997, the demand was a mere USD 3 billion and in 2003, it was USD 10 billion. And, the trend is only catching people's imagination today, like never before, leading to massive growth in the market.
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Here, it is pertinent to note that one of the segments that will be significant in capturing minds of small famers, adding to notable growth in the global aquaponics market is the agritech. It will be a boon to small farmers which flank the market landscape in all earnestness, thanks to it fragmented nature. One of the reasons it is set to contribute to the high trajectory over the coming years is that easy to integrate into any business model. And, it also helps cut down on costs, effectively. Additionally, it is a major means to strategize for ensuring steady revenues even in lean periods, such as when the weather conditions are harsh.
Some of the other factors that are helping the global aquaponics market take a high trajectory include the high savings on money, y reducing the need for too much space. Besides, use of other resources also goes down. For instance, as waste material from organism of the culture is used to fertilize, chemical-based enhancers are no more required. Besides, organically grown products sell for a premium price. And, the millennial consumer base is not shy of shelling extra.
In fact, as per a TMR Research report, it will be a top revenue generator for the stated market, which in itself will see a significant growth curve over the period of 2019 and 2029. Besides, Not only will this stellar growth numbers add to a better growth curve but also a better market worth, and a better opportunity zone.
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North America to Take Home the Largest Share over the Forecast Period
A major share of the overall growth noted in the global aquaponics market will be accounted for by the North American region owing high levels of awareness and high levels of technological adoption by the farmers in the region, especially in countries – Canada and United States of America. The reason behind this quick up-take requires no deep digging. One of the major reasons is that space and resources used are minimum with this model and the economic viability only pushes the popularity a notch higher. Additionally, the less or no use of pesticides, herbicides, and so on, lead to increase in demand from a highly conscious consumer base.
The Competitive Landscape in the Global Aquaponics Market – A Fragmented Picture
Some of the most notable players in the Global Aquaponics Market are The Aquaponic Source, Nutraponics Canada Corporation, Nelson and Pade, Inc., My Aquaponics, Greenlife Aquaponics, ECF Farmsystems GMBH, Aquaponic Lynx LLC, Aqua Allotments and Backyard Aquaponics, among others.
Players work towards innovation with product development in mind. And, they are keen on diversifying offerings. For instance, Nelson and Pade work with monitoring systems, aquaponic systems and their parts, aquanomics, and water quality kits, and so on. It is worth noting at this point that the players is not just focused on the product but also its marketing and anciliary activities, such as cooking classes, conducting seminars and greenhouse tours, and so on. It is not very hard to see how these add to improved marketing outcomes for the players, generating intense traffic from the consumer end of the spectrum.
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