Aquaponic and Hydroponic Systems and Equipment Market Forecast Analysis Upto 2026
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.
By: BIS Research
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Aquaponics is another innovative system to grow plants without soil. However, it is slightly different from hydroponics. Aquaponics is a combination of hydroponic and aquaculture. The aquatic solution does not obtain nutrients from the soil for plants but provides essential nutrients needed for plant growth directly to the roots, where they can effectively absorb nutrients.
Aquaponic and hydroponic growing systems provide a lot of benefits over conventional farming. Firstly, through these systems, the agricultural output can be increased drastically, which would help in solving the global food crisis. Secondly, food safety and security concerns have increased over time, especially in the Europe region. Through aquaponic techniques, food safety concerns can be met as the crop developed using these techniques are continuously monitored and are grown in a controlled manner. Since these systems provide all necessary requirements for plant growth, year-round crop production is possible through aquaponic and hydroponic techniques. The global aquaponic and hydroponic systems and equipment market is expected to grow more in the coming years with increased emphasis on alternative and vertical farming and increased government initiatives throughout the world for uplifting the global agricultural industry.
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Europe is the region that is expected to dominate the global aquaponic and hydroponic systems and equipment market during the forecast period. The high agricultural growth in this region and increased emphasis on alternative farming techniques are expected to boost the development in Europe.