World News: 17:13 GMT Saturday 13th July 2019. [Meticulous Market Research Pvt. Ltd. via Globe Newswire via SPi World News]
London, July 13, 2019 (GLOBE NEWSWIRE) -- According to this latest publication from Meticulous Research, the global is expected to grow at a CAGR of 12.8% from 2019 to reach $1.4 billion by 2025, driven by growing fish consumption, rising demand for organic fruits and vegetables, improvement in urban farming methods, growing reduction in arable land areas, and changing climatic conditions. However, high initial start-up cost and critical management requirement are the key factors hindering the adoption of aquaponics farming.
The global aquaponics market is mainly segmented by equipment (grow lights, pumps and valves, fish purge systems, in-line water heaters, aeration system, and other equipment), product type (fish, vegetables, herbs, and fruits), application (commercial, home production, and other applications), and geography.
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On the basis of product type, fish commanded the largest share of the global aquaponics market in 2018. The large share of this segment is mainly due to rising global population and growing fish demand for human consumption. In addition, due to high nutritional profile of the fish and changing lifestyle, this segment is further projected to grow at the highest CAGR during the forecast period.
Further, commercial application segment accounted for the largest share of the global aquaponics market in 2018, due to growing demand for organic food products and need to decline production cost with the increase in profitability of farming.
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This research report analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada, and Mexico), Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and RoAPAC), Latin America (Brazil, Argentina, and RoLATAM), and Middle East & Africa. North America commanded the largest share of the global aquaponics market in 2018, followed by Europe and Asia Pacific. However, the aquaponics market in Asia Pacific, especially in China, India, and Australia, is expected to witness high growth during the forecast period. The growth in this market is expected to be driven by rapidly growing population, rising demand for organic food products, rising urbanization, improvement in urban farming methods, growth of new diseases due to unhygienic foods, and rising innovation in the field of agriculture.
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The major players operating in the global aquaponics farming market are Pentair Aquatic Eco-System (U.S.), Nelson and Pade, Inc. (U.S.), Aquaponics USA (U.S.), Green Life Aquaponics (U.S.), The Aquaponics Source (U.S.), Endless Food Systems (U.S.), Japan Aquaponics (Japan), Stuppy, Inc. (U.S.), Symbiotic Aquaponic LLC (U.S.), Practical Aquaponics (Australia), SynergyPonics (South Africa), The Aquaponics Place LLC (U.S.), and AquaCal AutoPilot, Inc. (U.S.) among others.
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Globe Newswire: 17:13 GMT Saturday 13th July 2019
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