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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Aquaponics is a combination of aquaculture (growing of fishes) and hydroponics (growing of plants in water). In aquaponics, both these methods are combined to grow fishes and plants together. The nitrifying microorganisms present in water (rhizobacteria, fungi, micro plankton, etc.) convert the waste excreted by fishes to nitrates. These nitrates are then taken up by plants for their growth. Thus, in aquaponics, plants grow together with fishes in one integrated system.

Market Dynamics:

  • Aquaponic plants have the potential to become a major source of food by which it can contribute to the growing demand for food. According to the report ‘Agricultural productivity and innovation’, published by Food and Agricultural Organization, 2018, agriculture will need to produce almost 50% more food, feed, and biofuel in 2050 than it did in 2012 to meet the demand of increasing population, which is expected to reach 9.7 billion in 2050.
  • Aquaponics farming offer water as well as nutrients efficient growing of plants, as plants are grown without use of soil, pesticides, herbicides or any chemical fertilizers. Moreover, crops can be grown any time in a year irrespective of the climate. Therefore, ability of aquaponics to serve as a sustainable solution for growing food plants is expected to drive the aquaponics market growth.

Market Outlook:

  • Aquaponics also has the potential to become sustainable solution of fish production to meet rising demand for fish and fish products. According to the report ‘The State of World Fisheries And Aquaculture’ published by Food and Agricultural Organization (FAO) in 2018, the global apparent consumption of fish increased to around 151 million tons in 2016 from around 140 million tons in 2013, whereas world edible fish consumption in 2030 is projected to be 20% higher than that in 2016. Therefore, aquaponics has the potential to cater to increasing fish demand, which in turn is expected to boost the aquaponics market growth.

Key players:

  • Key players operating in the global aquaponics market include Ouroboros Farms, Future Foods Farms, Nelson and Pade, Inc., Ecf Farmsystems GMBH, Oko Farms, Bioaqua Farm, BIGH farm, GrowUp Urban Farms Ltd., Aquaponics Innovations, Midas Aquaponics, Southwest Aquaponics & Fish Hatchery LLC., and Bustan Aquaponics

Key Developments:-

  • In March 2016, Nelson and Pade, Inc. announced that the company has been recognized and awarded CNG aquaponics certification. The company is associated with CNG, which is a non-profit organization offering peer-review certification to farmers and beekeepers across the U.S. and four Canadian provinces.
  • In April 2017, CO2Sense announced to invest in the GrowUp Urban Farms, vertical farm based acquaponics in U.K. The investment was aimed to increase the sales and advancing the facilities of GrowUp Urban Farms.
  • In September 2016, Colorado Aquaponics and Ceres Greenhouse Solutions announced their partnership to innovate energy efficient, integrated aquaponic greenhouses.

Market Taxonomy:

On the basis of product type, the global aquaponics market is segmented into:

  • Plants
    • Herbs
    • Leafy & Non-leafy vegetables
    • Fruits
    • Flowers
    • Ornamental Plants
  • Fishes
    • Nile Tilapia
    • Carp
    • Catfish
    • Perch
    • Cichlid
    • Others (Sturgeon, Ornamental fish, etc.)

On the basis of distribution channel, the global aquaponics market is segmented into:

  • Supermarket
  • Hypermarket
  • Specialty Stores
  • Online

On the basis of production capacity, the global aquaponics market is segmented into:

  • Small Scale
  • Large Scale

On the basis of region, the global aquaponics market is segmented into:

  • North America
    • U.S.
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ASEAN
    • Australia
    • Rest of Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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