Hydroponics is a cultivation method that entails growing plants without soil but needs added nutrients. In the process, water runs through a set system, and a fixed water quantity is constantly recycled.
On the other hand, Aquaponics is a sustainable process that involves both aquaculture & hydroponics to grow plants & raise fish using beneficial bacteria. Here, using the by-products of fishes, which are introduced & fed suitably in the water, nutrients are provided to the plants without needing to fertilize individually.
These processes are gaining increasing popularity worldwide since they provide an effective & scalable model of growing fruits & vegetables while using less water & soil than industrial cultivation. Aquaponics & Hydroponics involve the use of equipment like LED Grow Lights, HVAC systems, Irrigation Systems, Aeration Systems, etc., required in plants & aquatic animal cultivation. Hence, the mounting demand for Aquaponics & Hydroponics worldwide is leading to the increasing production & sales of equipment used in these processes.
According to MarkNtel Advisors, the Global Aquaponic & Hydroponic Systems & Equipment Market is projected to grow at a CAGR of around 13.8% during the forecast period, i.e., 2022-27. The market is driven primarily by the swiftly rising demand for organic fruits & vegetables to suffice the mounting food requirements of the burgeoning population worldwide. In addition, growing awareness among farmers about the advantages of these practices, such as low water requirements, decreased use of arable land, higher productivity than conventional methods, etc., are other crucial aspects driving the market.
With the rising adoption of these practices, the demand for Aquaponics & Hydroponics Systems & Equipment is also observing a direct impact. The growing popularity of these cultivation methods due to benefits like reduced time for crop cultivation & higher cost-effectiveness entwined with the rising acceptance of advanced farming technologies among farmers also boosts the market.
Besides, due to the rapidly mounting population & their booming food requirements, farmers have been overusing the soil for crop cultivation, hampering the soil fertility, and not delivering food with high nutrition. Hence, it is another crucial aspect soaring the demand for Aquaponics & Hydroponics systems & equipment at different facilities and, in turn, driving the market.
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|Regions Covered||North America: USA, Canada, Mexico|
|Europe: Germany, UK, France, Italy, Belgium, The Netherlands|
|Asia-Pacific: China, India, Japan, South Korea, South East Asia|
|South America: Brazil, and Argentina|
|Middle East & Africa: UAE, Israel, Saudi Arabia, South Africa|
|Key Companies Profiled||AMHYDRO, Aquaponic Lynx LLC, Argus Control Systems Ltd, Backyard Aquaponics, BetterGrow Hydro, ECF Farmsystems, Agro Green Tech LLC, Hydrofarm, LivinGreen, My Aquaponics, Nelson and Pade, Inc., Perth Aquaponics, Hydrilla|
|Unit Denominations||USD Million/Billion|
Impact of Covid-19 on the Global Aquaponic & Hydroponic Systems & Equipment Market
With the Covid-19 pandemic in 2020, the Global Aquaponic & Hydroponic Systems & Equipment Market observed a slightly negative effect. The ways in which the governments of different countries have responded to curb the virus spread resulted in several challenges for the market.
The imposition of lockdowns & stringent movement restrictions resulted in the sudden shutdown of manufacturing units, hampering the production of Aquaponics & Hydroponic systems & equipment across various regions. In addition, travels bans & movement restrictions further halted the logistics & transportation services, which impeded the deliveries of pre-produced systems & equipment.
However, just when the global crisis seemed to improve, the demand for these systems & equipment soared, principally due to the sudden realization of several countries about their dependencies on food imports. It further resulted in an increasing focus on domestic & internal crop production using aquaponic & hydroponic cultivation practices. Besides, the same trend is anticipated to prevail in the coming years, where these cultivation processes shall play a crucial role in providing safe & nutritious food.
Based on the Systems, the Global Aquaponic & Hydroponic Systems & Equipment Market segments into
Of them all, Nutrient Film Techniques are projected to dominate the market with the largest share in the forecast period. It owes to their high versatility catering benefits like low water & nutrient consumption, easy disinfection of the roots & setup, prevention of salt build-up in root area due to consistent flow, minimal groundwater contamination, modular & expandable, among various others.
Besides, the system provides a constant water flow to avoid the possibility of any disease or bacteria, and the roots are exposed to sufficient oxygen that aids in healthy crop growth. Moreover, the Nutrient Film Technique is highly efficient, easy to set up, and popularly used for growing garden plants like herbs & lettuce. Hence, the demand for this technique is rising substantially and driving the global market.
Vegetables to Remain a Major Contributor in the Global Aquaponic & Hydroponic Systems & Equipment Market Growth
The increasing demand for aquaponic & hydroponic systems & equipment for the cultivation of Vegetables is due to their high effectiveness in maximizing vegetable crop production, i.e., faster than conventional farming methods. Besides, the swiftly booming demand for high-quality vegetables like lettuce, spinach, basil, among others, is further soaring the need for these cultivation practices, particularly across developed regions with an increasing inclination toward living a healthy lifestyle & consuming nutrition-rich vegetables.
For instance, Tomatoes are the most extensively Hydroponically cultivated crops since they take less cultivation time and require a minimal amount of water than farm-grown tomatoes. Among all regions, Asia-Pacific & Europe are anticipated to produce maximum tomatoes using hydroponics during the forecast period.
On the other hand, the demand for hydroponically cultivated Fruits is expected to display the fastest growth rate in the forecast period, owing to the well-set interior conditions of the indoor farming unit that allow fruits to be grown & harvested throughout the year. The most commonly cultivated fruits through these processes include strawberries, blueberries, watermelon, tomatoes, etc., reveals MarkNtel Advisors in their research report, “Global Aquaponic & Hydroponic Systems & Equipment Market Analysis, 2022.”
Geographically, the Global Aquaponic & Hydroponic Systems & Equipment Market expands across:
Of them all, Asia-Pacific is anticipated to display the fastest market growth in the forecast period since it is a hub of several small & large-scale cultivation. The countries in the region are thickly populated, and this number is constantly multiplying, thereby soaring the demand for food & substitutes of conventional farming methods to suffice the feed requirements.
Besides, with the swift scarcity of arable land across Asia-Pacific, the demand for alternative cultivation practices like Aquaponic & Hydroponic is rapidly surging and creating lucrative opportunities for the leading players. Moreover, China & India shall display accelerated adoption of Hydroponic cultivation, principally due to the development of urban farms in these countries.
On the other hand, Europe dominated the Global Aquaponic & Hydroponic Systems & Equipment Market in recent years and shall prevail the same trend during the forecast period. It owes to stringent regulations for food safety & security across different countries in the region. Since Aquaponic & Hydroponic cultivation requires close monitoring and crops are grown in a controlled manner while maintaining nutritional value, the adoption of these techniques has substantially boomed across Europe.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global Aquaponic & Hydroponic Systems & Equipment Market is projected to grow at a CAGR of around 13.8% during 2022-27.
A. Nutrient Film Techniques are anticipated to emerge as an area of lucrative opportunities for the leading players in the Global Aquaponic & Hydroponic Systems & Equipment Market during 2022-27.
A. Massive investments by several leading players in R&D projects to promote a variety of imperative cultivation practices are projected to drive the Global Aquaponic & Hydroponic Systems & Equipment Market through 2027 and create lucrative growth opportunities for the leading players in the industry.
A. With the increasing need to reduce reliance on global food imports, numerous countries are swiftly adopting aquaponic & hydroponic cultivation practices for domestic & internal crop production, especially after the Covid-19 pandemic. Hence, the market is set to witness profitable growth opportunities in the coming years.