With the rise in the various chronic diseases such as cancer, heart diseases, diabetes, and osteoporosis have led to an increase in the healthcare costs. This, in turn, has enabled the consumers to become aware of the relationship between better diet and health. For the same, the demands for better forms of farming technologies are also rising, and several agronomists, farmers, and companies are coming up with the concept of hydroponics, aquaculture, aquaponics, and aeroponics technologies. According to the latest market intelligence report by BIS Research titled, ‘Global Aquaponics & Hydroponics system & Equipment Market -Analysis and Forecast (2017-2022)’, the market is expected to reach a value of $1.98 billion by 2022. This significant market growth is primarily attributed to the increasing emphasis on food security and high adoption of soilless farming techniques by farmers, across the globe.
Hydroponics is also known as soil-less farming. This is the method of growing crops without the soil, either in a substrate (growing media) or in an aqueous medium with plain roots. For these mediums, various irrigation systems are showing their interest to assist the nutrient solution to reach to the plants’ root zone, directly. Hydroponics is gaining traction across the globe owing to its high water and fertilizer use efficiency, which make both hydroponics and aquaponics a suitable farming technique. Aquaponics and hydroponics system enhances the productivity of the product with minimum inputs as compared to the conventional farming practices.
Hydroponics and aeroponics are modern agriculture techniques which utilize nutrient-rich water rather than soil for plant growth. These techniques consume 70% less water as compared to conventional farming; for instance, the plants can be cultivated with water (hydroponics) and the same water can be used for aquaponics (fish farming technique). Hydroponics and aquaponics systems require less fertile land as well as less space. These techniques support crop production all year round when practiced in a controlled environment. This, in turn, assists the farmers in having greater control over the production and the ability to increase yields with more flexibility during unfavorable climatic conditions.
Over the past few years, the prominent market players operating in the market for aquaponics &hydroponics system & equipment have adopted various market strategies to stay in the market and to widen their consumer base. The various strategies used by the market players are mergers & acquisitions, partnerships, expansion and agreements, and investment and joint ventures, among others. Further, different countries’ government, regulatory bodies, private research institutions, and associations are putting in substantial efforts to identify how hydroponics and aquaponics system can be used to meet the growing demands of food production, on a global scale.
BIS Research has conducted extensive research on the global aquaponics & hydroponics system & equipment market and compiled the observation and insight in this report. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.
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