Aquaponics market size valued USD 2.42 Billion in 2023, growing at a CAGR of 18% from 2024 to 2033. Increasing demand for organic fruits and vegetables will drive the Aquaponics market’s growth.
Newark, May 13, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 2.42 Billion aquaponics market will reach USD 12.67 Billion by 2033. Rapidly growing consumer demand in the market, increasing partnership agreements, and other strategic initiatives by the private players in the market may fuel the growth of the Aquaponics Market. The rising disposable income of the global middle class has reshaped consumer spending patterns, particularly evident in increased expenditures on food. This trend has led to a proliferation of restaurants worldwide. Locally produced food is experiencing heightened demand from consumers, with aquaponics playing a pivotal role in sustaining this local and regional consumption model. Consequently, the market for aquaponics is further propelled by this growing trend. Additionally, the pursuit of sustainable farming methods has emerged in response to the adverse impacts of climate change.
Scope of Aquaponics Market
| Report Coverage | Details |
| CAGR | 18% from 2024 to 2033 |
| Market Size in 2023 | USD 2.42 Billion |
| Market Size by 2033 | USD 12.67 Billion |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Year | 2024 to 2033 |
| Historical Year | 2020-2022 |
| Segments Covered | Type, Application |
Aquaponics Market Size by Type (Media-based Aquaponics Systems, Nutrient Film Technique (NFT) Aquaponics Systems), By Application (Fish, Vegetables, Herbs, Fruits), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033
North America emerged as the largest global Aquaponics market, accounting for 44% of the total market. Owing to sustainable farming practices and increased production of organic food in the region. Whereas Asia Pacific exhibits the highest growth rate in the market owing to rapidly growing population coupled with increased disposable income and rising awareness towards healthy lifestyle.
Media-based aquaponics systems have dominated the market, acquiring 45% of the market share.
Media-based aquaponics systems have dominated the market, acquiring 45% of the market share. These systems are widely regarded as the predominant type in the global aquaponics market. These systems utilize various growth media, such as gravel or clay pellets, to support plant growth and provide a biofiltration environment for bacteria that convert fish waste into plant nutrients. On the other hand, Nutrient Film Technique (NFT) aquaponics systems are emerging as the fastest-growing segment. The surge in interest in sustainable agriculture, urban farming initiatives, and the preference for locally sourced produce are driving the rapid growth of NFT aquaponics systems.
The fish segment has dominated the Aquaponics market. Thereby acquiring 45% in the year 2023.
The fish segment has dominated the Aquaponics market. Thereby acquiring 45% in the year 2023. Further, it is expected to be the fastest-growing in the market. Owing to the rapidly growing global population, changing lifestyles, and preference towards pescetarianism. Additionally, raising awareness towards healthy lifestyle is another major benefit that has fueled up the growth of the Aquaponics Market in the period forecasted.