Aquaponics System Market Trends and Recent Development Report 2019Posted by Shiva on July 8th, 2019 Market Overview: Aquaponics System Market was worth USD 703.0 million in 2019 and estimated to be growing at a CAGR of 14.64%, to reach USD 1392.3 million by 2024. Aquaponics system is the combination of aquaculture and hydroponics together in an ideal environment. Aquaculture is the growing of aquatic animals like fish, prawns and other aquatic animals. Hydroponics is cultivating of plants in water without soil. The aquaculture waste provides organic food for the plants. In return, plants naturally clean the water that goes back to fish. The third participant is microbes which provides nutrition for the plants. The microbes convert ammonia from the fish waste into nitrites and then into nitrates which is the form of nitrogen that plants can uptake and use to grow. The result is a perfect collaboration between aquaculture and hydroponics. Market Drivers and Restraints: Rise in population, increasing demand for organic fruits and vegetables, rise in disposable income, improvement in urban farming methods and off-season availability of fruits & vegetables, growing of new diseases due to the unhygienic food, technological advancements and new innovations in the field of agriculture, low cost in terms of lesser preparation time, rise in urbanisation, lower transport & storage costs of food and higher margins of benefits are driving the global aquaponics market growth from last few years. However, high cost equipment, limited number of skilled professionals and lack of awareness in rural areas are hampering the growth of the market. View a sample and decide @ https://www.marketdataforecast.com/market-reports/aquaponics-system-market/request-sample Report segmented as By Equipment:
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Geographical Analysis: Based on geography the Aquaponics Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle-East and Africa. North America followed by the Europe has the major market share in the global Aquaponics market due to the innovation in technology to enhance efficiency of aquaponics system and rise in number of aquaponic practitioners. In Asia Pacific region, the market is projected to grow at the highest CAGR due to the increasing population, rise in disposable income and demand for organic food products is supporting the aquaponics market growth. Important Market Players: The key players dominating in the Aquaponics market are Nelson & Pade Inc., Urban Farms AG, ECF Farm systems GmbH, Backyard Aquaponics Pvt. Ltd, My Aquaponics, Colorado Aquaponics and Green Life Aquaponics. The Scope of the report: This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors. About Us: Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients. For more information: Abhishek Shukla Sales Manager at Market Data Forecast Email: abhishek@marketdataforecast.com Tel: +1-888-702-9626 Website: https://www.marketdataforecast.com/ Like it? Share it! More by this author |