The global aquaponics and hydroponics systems and equipment market the size should go from $1,202.8 million in 2020 at $2,753.2 million by 2027, at a CAGR of 14.8% from 2021 to 2027. Emphasis was placed on the harmful effects of conventional agriculture on the environment. Some of these concerns include depletion of natural resources, overuse of synthetic chemical inputs in soil, and contamination of water resources. With the excessive agricultural activities on the land, the fertility of the land has globally decreased. This has led to a surge in alternative production systems for small-scale growers and large-scale commercial productions.
Aquaponics is another soilless plant growing system but different from hydroponics system. Instead of plants getting their nutrients from the soil, an aquatic solution is used to deliver essential nutrients needed for plant growth directly to the roots, where efficient nutrient uptake can occur. Instead of adding fertilizers to the water to add nutrients, the fish are simultaneously reared in the aquatic environment to create a symbiotic relationship that results in an incredibly efficient system. The main advantages of aquaponics and hydroponics systems include a longer growing season than conventional gardening, reduced negative environmental impact, faster plant growth and higher yield.
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Various aquaponic and hydroponic systems are available in the market, such as the nutrient film technique, deep water culture systems, media-filled grow beds, and ebb and flow systems. The equipment used in aquaponics and hydroponics includes LED grow light, HVAC, irrigation system and aeration system. A wide range of products can be grown with aquaponic and hydroponic systems such as vegetables, herbs, fruits and fish. With the current global scenario, alternative agricultural systems are expected to grow exponentially in the coming years with increased demand for food and decreasing land availability.
Impact of COVID-19 on Global Aquaponics and Hydroponics Systems and Equipment
The COVID-19 pandemic has had a significant impact on almost every major industry in the world, including the agricultural sector. The pandemic has led to economic instability around the world and the GDP of all countries has decreased in 2020. The alternative agricultural industry, vertical farming, aquaponics, hydroponics and monoculture techniques, has also been largely affected by the COVID-19 pandemic.
The agricultural sector plays a major role in many countries such as India, the United States, Australia and Indonesia. Countries with a well-established aquaponics and hydroponics setup have faced a major problem with COVID-19. Due to the pandemic, the supply chains of major equipment required to operate an aquaponics and hydroponics facility have been severely disrupted. These include an HVAC system, an LED grow light, and an aeration system. The unavailability of the equipment necessary for the operation of an aquaponic farm has greatly reduced production and yield. This has affected the relationship between demand and supply with products developed through aquaponics and hydroponics techniques.
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Global Aquaponic and Hydroponic Systems and Equipment Market Dynamics
Drivers: increasing global food demand
Global food security is one of the most important environmental issues. The world’s population has increased tremendously since the 2000s and will increase further by 2030 and 2050. Such a large world population will demand more food and water in the future. Over the past two decades, agricultural production has outpaced the world population growth rate, which is 1% per year of present value. Therefore, concerns have been raised whether the landmass of the world will be able to support its expanding population by 2030 and 2050 or not.
Increasing food production will require greater inputs – land, water, labor, or a combination of these inputs. Thus, an increase in food production will intensify competition for land, water and energy. With the growing concerns about food safety, growers around the world have opted for various food production techniques, such as aquaponics and hydroponics.
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Challenges: high operating cost
The main reason for the slow and limited adoption of aquaponics and hydroponics systems around the world is the high cost of operation and initial investment. Increased investments are required to set up a commercial aquaponics farm, which can be inconvenient, especially for small and medium growers. Thus, the cost of implementing technology, the cost of experts, and the cost of maintenance somehow affect the growth of the market. The high initial price for setting up an aquaponics and hydroponics system is seen as a major challenge in developing aquaponics systems globally. Countries that are less tech-savvy and less knowledgeable may not invest much in these systems.
Opportunities: Increase cultivation of medicinal plants
Medicinal plants are valuable natural resources. Unplanned growth and overharvesting of medicinal plants from unmanaged natural resources has resulted in lack of different spices and elimination of various species in the world. To meet the growing need for these plants, it becomes essential to moderate these plant species either through domestication and cultivation or through other ex situ and in situ conservation measures for their sustainable use.
Medicinal plants are increasingly grown on a commercial scale to meet their growing demand for natural remedies. These plants are generally preferred to be grown away from their native climatic zones due to emergencies.
The study categorizes the aquaponics and hydroponics systems and equipment market based on application, technique, equipment, and regions.
By Outlook Application (Sales/Revenue, USD Million, 2017-2027)
Outlook by Technique (Sales/Revenue, USD Million, 2017-2027)
- Nutrient film technique
- Deep Water Culture System
- Media filled grow bed
- Ebb and flow system
By Equipment Outlook (Sales/Revenue, USD Million, 2017-2027)
- LED grow light
- Irrigation system
- Ventilation system
Outlook by Region (Sales/Revenue, USD Million, 2017-2027)
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)
Vegetable segment is expected to account for the largest market share by application
The global aquaponic and hydroponic systems and equipment market is segmented into vegetables, herbs, fruits, fish and others based on application. In 2020, vegetables accounted for the largest market share of 34.5% in the global aquaponic and hydroponic systems and equipment market. Aquaponics and hydroponics techniques are mainly used for growing vegetables. Through aquaponics and hydroponics systems, fish and vegetables are grown together. Vegetables and fish benefit from each other thanks to the aquaponics system. This circulating water contains fish droppings, rich in beneficial bacteria and nutrients, and can supply nutrients to plants without fertilizers.
Asia-Pacific accounts for the highest CAGR during the forecast period
Based on regions, the global aquaponics and hydroponics systems and equipment market has been segmented into North America, Asia-Pacific, Europe, South America, and Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR of 15.8% in the global aquaponics and hydroponics systems and equipment market during the forecast period. Asia-Pacific includes countries like India, Japan, Thailand, Indonesia, and South Korea. Countries like India have the highest populations in the world, which creates a higher demand for food in these regions. This is expected to drive the market for aquaponics and hydroponics systems and equipment in the Asia-Pacific region. The aquaponics and hydroponics market in the Asia-Pacific region is huge, considering the countries’ reliance on agriculture. Agriculture is a major occupation for a large population in the countries located in this region.
Countries like India and China have high food demand which is expected to increase with their growing population. Aquaponics and hydroponics techniques would help to increase the agricultural productivity of these countries. Thus, growing food demand is expected to drive the market for aquaponics and hydroponics systems and equipment in the Asia-Pacific region. India is one of the largest producers of agricultural crops in the world, with agriculture contributing 20% of the country’s GDP.
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Main market players
The Aquaponics and Hydroponics systems and equipment market is slightly concentrated in nature with few global players operating in the market such as BetterGrow Hydro, Colorado Aquaponics, ECF Farm systems, AmHydro, Aquaponic Lynx LLC, Endless Food Systems, Hydrodynamics International, Hydrofarm LLC, LivinGreen, Nelson & Pade Aquaponics, General Hydroponics, GreenTech Agro LLC, Pegasus Agriculture, PentairAES, Perth Aquaponics, Argus Control Systems Limited and UrbanFarmers AG