Global Aquaponic and Hydroponic Systems and Equipment Market: Focus on Product, Application, and Country Analysis - Analysis and Forecast, 2020-2026
Global Aquaponic and Hydroponic Systems and Equipment Market is Expected to $ 2.74 Billion by 2026
Market Report Coverage - Aquaponic and Hydroponic Systems and Equipment
- Application: Vegetables, Herbs, Fruits, Fish, and Others
- Equipment: Heating Ventilation and Air Conditioning (HVAC), LED Grow Light, Irrigation System, Aeration System, and Others
- Technique: Nutrient-Film Technique, Deep-Water Culture Technique, Media-Filled Grow Bed, Ebb and Flow System, and Others
- North America: U.S., Canada, and Mexico
- Europe: Germany, Netherlands, France, Spain, and Italy
- Middle East and Africa: South Africa, Israel, and Saudi Arabia
- Asia-Pacific: India, Japan, Thailand, Indonesia, and South Korea
- Rest-of-the-World: Brazil
Market Growth Drivers
- Increasing Global Food Demand
- Higher Yield Compared to Conventional Farming
- Year-Round Food Production
- 24/7 Crop Protection and Management
- High Cost of Operation
- Lack of Awareness about Alternative Farming Techniques
- Increasing Cultivation of Medicinal Plants
- Increasing Emphasis on Vertical Farming in Urban Areas
- Scope of Agricultural Production in Countries with Low Agricultural Land and Climatic Conditions
Key Companies Profiled
AmHydro, Aquaponic Lynx LLC, Argus Control Systems Limited, BetterGrow Hydro, Colorado Aquaponics, ECF Farmsystems, Endless Food Systems, General Hydroponics, GreenTech Agro LLC, Hydrodynamics International, Hydrofarm LLC, LivinGreen, Nelson & Pade Aquaponics, Pegasus Agriculture, PentairAES, Perth Aquaponics, UrbanFarmers AG
How This Report Can Add Value
Product/Innovation Strategy: The product segment helps the reader in understanding the different types of aquaponic and hydroponic growing techniques and equipment market potential globally. Moreover, the study provides the reader a detailed understanding of different growing techniques (i.e., nutrient-film technique, deep-water culture technique, media-filled grow bed, and ebb and flow system).
Additionally, comprehensive coverage on different equipment required for a successful aquaponic and hydroponic farm setup (i.e., HVAC, LED grow light, irrigation system, and aeration system) for various applications has also been added in the study.
Growth/Marketing Strategy: The alternative farming equipment manufacturers have opted for a new product development strategy as a way of establishing dominance in the aquaponic and hydroponic systems and equipment market. Growth/marketing strategies will help the reader in understanding the revenue-generating strategies adopted by the players operating in the global aquaponic and hydroponic systems and equipment market.
For instance, in January 2021, Aquaponics AI, a social impact aquaponic technology company, released a mobile application to enable small and large farms to simplify data, understand the system and achieve better growth.
Aquaponics AI's mobile application aims to bring real-time access to system data, insights, and farm management solutions. Moreover, other strategies adopted by the market players will help the reader in making strategic decisions, such as go-to-market strategies.
Key questions answered in the Report
- What is the estimated global aquaponic and hydroponic systems and equipment market size in terms of revenue for the forecast period 2021-2026, and what is the expected compound annual growth rate (CAGR) during the forecast period 2021-2026?
- What are the key trends, market drivers, and opportunities in the market pertaining to aquaponic and hydroponic systems and equipment?
- What are the major restraints inhibiting the growth of the global aquaponic and hydroponic systems and equipment market?
- What kinds of new strategies are being adopted by the existing market players to expand their market position in the industry?
- What is the competitive strength of the key players in the aquaponic and hydroponic systems and equipment market based on an analysis of their recent developments, product offerings, and regional presence?
- How is the competitive benchmarking of the key aquaponic and hydroponic systems and equipment companies in the agriculture market based on the analysis of their market coverage and market potential?
- How much revenue is each segment expected to record during the forecast period, along with the growth percentage? The segments are as follows:
- Product, including equipment (HVAC, LED grow light, irrigation system, aeration system, and others) and technique (nutrient-film technique, deep-water culture technique, media-filled grow bed, ebb and flow system, and others)
- Application, including vegetables, herbs, fruits, fish, and others
- Region, including North America, the U.K., Europe, Asia-Pacific, China, the Middle East and Africa, and the Rest-of-the-World
- Which type of players and stakeholders are operating in the market ecosystem of aquaponic and hydroponic systems and equipment, and what is their significance in the global market?
- Which are the leading consortiums and associations in the global aquaponic and hydroponic systems and equipment market, and what are their roles in the market?
- How does the regulatory landscape differ in different regions for aquaponic and hydroponic systems and equipment?
Global Aquaponic and Hydroponic Systems and Equipment Market
Aquaponic and hydroponic growing techniques were first established in the 1980s, wherein vegetables were grown without soil. In the earlier systems, wastewater from a fish tank was used to irrigate crops, like cucumbers and tomatoes, in grow-bed filled with sand. With the advancement in technology, equipment such as heating ventilation and air conditioning (HVAC), LED grow light, aeration system, and irrigation system are being used for efficient crop growth through aquaponic and hydroponic techniques.
Global Aquaponic and Hydroponic Systems and Equipment Industry Overview
The global aquaponic and hydroponic systems and equipment market is expected to reach $2.74 billion by 2026, with a CAGR of 14.80% during the forecast period 2021-2026. High growth in the market is expected to be driven by the benefits that aquaponic and hydroponic growing techniques provide over conventional farming. With alternative farming techniques such as aquaponics and hydroponics, food production can be maximized with year-round production. With these techniques, products grown are more nutrient rich as compared to products grown through conventional farming. Products grown through aquaponic and hydroponic techniques are grown in a controlled environment and monitored at all times. With increased production, increasing global food demand can also be managed through these techniques.
Impact of COVID-19 on Aquaponic and Hydroponic Systems and Equipment Market
The supply chain of the majority of the industries across the globe got impacted due to the COVID-19 pandemic, including the aquaponic and hydroponic equipment industry. A significant impact was witnessed on the global aquaponic and hydroponic systems and equipment market as equipment manufacturers were unable to provide equipment to set up an aquaponic farm due to government measures to prevent the spread of the COVID-19.
Global Aquaponic and Hydroponic Systems and Equipment Market by Equipment
The aquaponic and hydroponic systems and equipment market is dominated by the HVAC system. HVAC systems are necessary for a complete aquaponics setup as plants in these systems always require constant monitoring and an adequate temperature. Depending upon the plant being grown in the system, heat and ventilation is maintained at all times.
Global Aquaponic and Hydroponic Systems and Equipment Market by Technique
The global aquaponic and hydroponic systems and equipment market by technique category is dominated by nutrient film technique. This dominance is due to the high versatility of this technique used for growing plants. NFT is favored for its simple setup and ease of use with many popular garden plants such as lettuce and herbs. This method uses horizontal pipes with shallow streams of nutrient-rich water flowing through them.
Global Aquaponic and Hydroponic Systems and Equipment Market by Region
Europe generated the highest revenue in 2020, which is attributed to the technological advancements in the Europe region. With high food safety and security concerns in the region, aquaponics and hydroponics in the region have offered a big solution to food safety and security concerns. This is because the plants grown with these techniques are grown in a controlled manner, and nutrient value is maintained throughout the production process. The region is expected to witness high growth in terms of CAGR during the forecast period.
Key Market Players and Competition Synopsis
AmHydro, Aquaponic Lynx LLC, Argus Control Systems Limited, BetterGrow Hydro, Colorado Aquaponics, ECF Farmsystems, Endless Food Systems, General Hydroponics, GreenTech Agro LLC, Hydrodynamics International, Hydrofarm LLC, LivinGreen, Nelson & Pade Aquaponics, Pegasus Agriculture, PentairAES, Perth Aquaponics, and UrbanFarmers AG
The companies that are profiled in the report have been selected based on the selective pool of players, primarily Tier-1 (which holds 50-60% of the market) and mid-segment players (comprise of 30-40% share), and small and emerging companies (holds the balance 10-20% share), based on various factors such as product portfolio, annual revenues, market penetration, research, and development initiatives, along with a domestic and international presence in the aquaponic and hydroponic systems and equipment industry.
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.