In a recent published report, Kenneth Research has updated the market report for Aquaponics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Aquaponics Market products.
The global Aquaponics Market is anticipated to reach $1,019 million by 2026 according to a new research published by Polaris Market Research. In 2018, the Deep Water Culture segment accounted for the highest Aquaponics market share in terms of revenue. North America is expected to be the leading contributor to the global Aquaponics market revenue in 2018.The increase in the population worldwide and growth in global food demand majorly drives the aquaponics market growth. Aquaponics is increasingly being used to meet the high-demand for food crops.
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The ability to produce high quality crops throughout the year, lesser use of water for crop cultivation, and lower dependency on weather conditions boost the aquaponics market growth. Growing demand for organic and chemical free crops, and rising urban population accelerate the growth of the aquaponics market. New emerging markets, and reduced environmental pollution by aquaponics would provide growth opportunities in the aquaponics market in the coming years.
North America generated the highest aquaponics market share in terms of revenue in 2018. The growing urbanization, and rising population has accelerated the aquaponics market growth in the region. A significant rise in the demand for organic and chemical free food products supports the growth of the aquaponics market in the region. The technological advancements in farming methods, and increasing awareness among consumers improves the aquaponics market growth rate. Asia-Pacific is expected to grow at the highest rate during the forecast period. This is owing to significant growth of population in the region. Lack of fertile land, and strong technical expertise in agricultural practices in the region promotes the adoption of aquaponics in the region. Technological advancements and established R&D institutes in China and Japan further supplements the aquaponics market growth.
The well-known companies profiled in the aquaponics market report include Ultrasonics Canada Corporation, UrbanFarmers AG, Backyard Aquaponics Pty Ltd., ECF Farmsystems GmbH, My Aquaponics, Aqua Allotments, Nelson & Pade Inc., Colorado Aquaponic, Greenlife Aquaponics, Aquaponic Lynx LLC, and The Aquaponic Source among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
Leading players in the aquaponics market partner and collaborate with other players in the market to enhance their offerings in the market and expand their customer base. For instance, Aerofarms has partnered with Dell Technologies to expand its technological requirements of machine learning and network systems. Fluence Bioengineering, offers lighting solutions for Aquaponics to its consumers. The company’s Fluence RAZR Series is developed for various Aquaponics applications such as full-cycle cultivation of leafy greens, young plant propagation of vegetable, ornamental and cannabis crops.
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Table of Contents
1. Overview and Scope
1.1. Research goal & scope
1.2. Research assumptions
1.3. Research Methodology
1.3.1. Primary data sources
1.3.2. Secondary data sources
1.4. Key take-away
2. Executive Summary
2.1. Market Definition
2.2. Market Segmentation
3. Aquaponics Market Insights
3.1. Aquaponics – Industry snapshot
3.2. Aquaponics – Ecosystem analysis
3.3. Aquaponics Market Dynamics
3.3.1. Aquaponics – Market Forces
22.214.171.124. Aquaponics Market Driver Analysis
126.96.36.199. Aquaponics Market Restraint/Challenges analysis
188.8.131.52. Aquaponics Market Opportunity Analysis
3.4. Industry analysis – Porter’s five force
3.4.1. Bargaining power of supplier
3.4.2. Bargaining power of buyer
3.4.3. Threat of substitute
3.4.4. Threat of new entrant
3.4.5. Degree of competition
3.5. Aquaponics Market PEST Analysis
3.6. Aquaponics Market Value Chain Analysis
3.7. Aquaponics Industry Trends
3.8. Competitive Ranking Analysis, 2017
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