Global Aquaponic & Hydroponic Systems & Equipment Market Research Report: Forecast (2022-2027)

Global Aquaponic and Hydroponic Systems and Equipment Market Research Report: Forecast (2022F2027F)

www.marknteladvisors.com

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Document Outline

02

Research Scope

23

Sample Illustration

56

Research Process & Methodology

65 67 69 © 2021 | Reproduction is forbidden unless authorized | All Rights Reserved

Report Particulars, Key Questions Answered, Market Segmentation, Table of Content

Global Aquaponic and Hydroponic Systems and Equipment Market Research Report: Forecast (2022-2027) Research Approach, Research Methodology

Commercials About MarkNtel Advisors Who we are?

Disclaimer & Contact Details

2

Report Particulars Global Aquaponic and Hydroponic Systems and Equipment Market Report Basics Sr. No

Particulars

1

Report Published

November 2021

2

Number of Research Hours

292

3

Total Number of Pages in the Final Report

250+

4

Research Period

2017-2027F Historical Years

5

Currency Used Throughout the Report

6

Market Measurement

7

Number of Top Countries/Markets Covered in the Report

2017-2020

Base Year

2021

Estimated Year

2022

Forecast Year

2027F The United States Dollars OR USD Value in USD million 5 Regions/20+ Countries #The charts and shapes in the sample are not meant to be scaled

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3

Market Segmentation

Global Aquaponic and Hydroponic Systems and Equipment Market

Region

Application

Equipment

Company

• North America • The US • Canada • Mexico • South America • Brazil • Argentina • Rest of South America • Europe • Germany • The UK • France • Italy • Belgium

• • • • •

• • • • •

• • • • • • • • • •

• The Netherlands • Rest of Europe

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Vegetables Fruits Herbs Fish Others

LED Grow Lights HVAC Irrigation Systems Aeration Systems Others (Spare Parts, etc.)

Systems

End User

• Nutrient Film Techniques • Deep-Water Culture Systems • Media Filled Grow Beds • Ebb and Flow Systems • Others

• • • •

Micro Farms Homes Aquaponics Farms Others (Schools, Universities, etc.)

AMHYDRO Aquaponic Lynx LLC Argus Control Systems Ltd Backyard Aquaponics BetterGrow Hydro Colorado Aquaponics ECF Farmsystems GreenTech Agro LLC General Hydroponics Hydrofarm

• Hydrodynamics International • LivinGreen Category • My Aquaponics • Aquaponic • Nelson and Pade, Inc. • Hydroponic • Pegasus Agriculture • Perth Aquaponics • UrbanFarmers AG • Others

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Study Background – Project Outline

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Table of Content 1. Introduction 1.1. Research Process 1.2. Assumption 1.3. Market Segmentation 1.4. Market Definition 2. Executive Summary 3. Global Aquaponic and Hydroponic Systems and Equipment Trends & Insights 4. Global Aquaponic and Hydroponic Systems and Equipment Dynamics 4.1. Growth Drivers 4.2. Challenges 4.3. Impact Analysis 5. Global Aquaponic and Hydroponic Systems and Equipment Policies, Regulations, Application Standards 6. Global Aquaponic and Hydroponic Systems and Equipment Hotspot and Opportunities 7. Global Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 7.1. Market Size and Analysis 7.1.1. By Revenues 7.2. Market Share and Analysis 7.2.1. By Category 7.2.1.1. Aquaponics 7.2.1.2. Hydroponic

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Table of Content 7.2.2. By Application 7.2.2.1. Vegetables 7.2.2.2. Fruits 7.2.2.3. Herbs 7.2.2.4. Fish 7.2.3. By Equipment 7.2.3.1. LED Grow Lights 7.2.3.2. HVAC 7.2.3.3. Irrigation Systems 7.2.3.4. Aeration Systems 7.2.3.5. Others (Spare Parts, etc.)

7.2.4. By Systems 7.2.4.1. Nutrient Film Techniques 7.2.4.2. Deep-Water Culture Systems 7.2.4.3. Media Filled Grow Beds 7.2.4.4. Ebb and Flow Systems 7.2.4.5. Dutchbucket Systems 7.2.5. By End Users 7.2.5.1. Micro Farms 7.2.5.2. Homes

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Table of Content 7.2.5.3. Aquaponics Farms 7.2.5.4. Others (Schools, Universities, etc.)

7.2.6. By Region 7.2.6.1. North America 7.2.6.2. South America 7.2.6.3. Europe 7.2.6.4. Middle East & Africa 7.2.6.5. Asia-Pacific 7.2.7. By Company 7.2.7.1. Revenue Shares 7.2.7.2. Strategic Factorial Indexing 7.2.7.3. Competitor Placement in MarkNtel Quadrant 8. North America Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 8.1. Market Size and Analysis 8.1.1. By Revenues 8.2. Market Share and Analysis 8.2.1. By Category 8.2.2. By Application 8.2.3. By Equipment 8.2.4. By Systems

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Table of Content 8.2.5. By End Users 8.2.6. By Country 8.2.6.1. The US 8.2.6.2. Canada 8.2.6.3. Mexico 8.3. The US Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 8.3.1. Market Size and Analysis 8.3.1.1. By Revenues 8.3.2. Market Share and Analysis 8.3.2.1. By Category 8.3.2.2. By Application 8.3.2.3. By Equipment 8.4. Canada Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 8.4.1. Market Size and Analysis 8.4.1.1. By Revenues 8.4.2. Market Share and Analysis 8.4.2.1. By Category 8.4.2.2. By Application 8.4.2.3. By Equipment 8.5. Mexico Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F

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Table of Content 8.5.1. Market Size and Analysis 8.5.1.1. By Revenues 8.5.2. Market Share and Analysis 8.5.2.1. By Category 8.5.2.2. By Application 8.5.2.3. By Equipment 9. South America Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 9.1. Market Size and Analysis 9.1.1. By Revenues 9.2. Market Share and Analysis 9.2.1. By Category 9.2.2. By Application 9.2.3. By Equipment 9.2.4. By Systems 9.2.5. By End Users 9.2.6. By Country 9.2.6.1. Brazil 9.2.6.2. Argentina 9.2.6.3. Rest of South America 9.3. Brazil Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F

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Table of Content 9.3.1. Market Size and Analysis 9.3.1.1. By Revenues 9.3.2. Market Share and Analysis 9.3.2.1. By Category 9.3.2.2. By Application 9.3.2.3. By Equipment 9.4. Argentina Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 9.4.1. Market Size and Analysis 9.4.1.1. By Revenues 9.4.2. Market Share and Analysis 9.4.2.1. By Category 9.4.2.2. By Application 9.4.2.3. By Equipment 10. Europe Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 10.1. Market Size and Analysis 10.1.1. By Revenues 10.2. Market Share and Analysis 10.2.1. By Category 10.2.2. By Application 10.2.3. By Equipment

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Table of Content 10.2.4. By Systems 10.2.5. By End Users 10.2.6. By Country 10.2.6.1. Germany 10.2.6.2. The UK 10.2.6.3. France 10.2.6.4. Italy 10.2.6.5. Belgium 10.2.6.6. The Netherlands 10.2.6.7. Rest of Europe 10.3. Germany Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 10.3.1. Market Size and Analysis 10.3.1.1. By Revenues 10.3.2. Market Share and Analysis 10.3.2.1. By Category 10.3.2.2. By Application 10.3.2.3. By Equipment 10.4. The UK Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 10.4.1. Market Size and Analysis 10.4.1.1. By Revenues

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Table of Content 10.4.2. Market Share and Analysis 10.4.2.1. By Category 10.4.2.2. By Application 10.4.2.3. By Equipment 10.5. France Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 10.5.1. Market Size and Analysis 10.5.1.1. By Revenues 10.5.2. Market Share and Analysis 10.5.2.1. By Category 10.5.2.2. By Application 10.5.2.3. By Equipment 10.6. Italy Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 10.6.1. Market Size and Analysis 10.6.1.1. By Revenues 10.6.2. Market Share and Analysis 10.6.2.1. By Category 10.6.2.2. By Application 10.6.2.3. By Equipment 10.7. Belgium Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 10.7.1. Market Size and Analysis

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Table of Content 10.7.1.1. By Revenues 10.7.2. Market Share and Analysis 10.7.2.1. By Category 10.7.2.2. By Application 10.7.2.3. By Equipment 10.8. The Netherlands Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 10.8.1. Market Size and Analysis 10.8.1.1. By Revenues 10.8.2. Market Share and Analysis 10.8.2.1. By Category 10.8.2.2. By Application 10.8.2.3. By Equipment 11. Middle East & Africa Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 11.1. Market Size and Analysis 11.1.1. By Revenues 11.2. Market Share and Analysis 11.2.1. By Category 11.2.2. By Application 11.2.3. By Equipment 11.2.4. By Systems

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Table of Content 11.2.5. By End Users 11.2.6. By Country 11.2.6.1. UAE 11.2.6.2. Israel 11.2.6.3. Saudi Arabia 11.2.6.4. South Africa 11.2.6.5. Rest of Middle East & Africa 11.3. UAE Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 11.3.1. Market Size and Analysis 11.3.1.1. By Revenues 11.3.2. Market Share and Analysis 11.3.2.1. By Category 11.3.2.2. By Application 11.3.2.3. By Equipment 11.4. Israel Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 11.4.1. Market Size and Analysis 11.4.1.1. By Revenues 11.4.2. Market Share and Analysis 11.4.2.1. By Category 11.4.2.2. By Application

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Table of Content 11.4.2.3. By Equipment 11.5. Saudi Arabia Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 11.5.1. Market Size and Analysis 11.5.1.1. By Revenues 11.5.2. Market Share and Analysis 11.5.2.1. By Category 11.5.2.2. By Application 11.5.2.3. By Equipment 11.6. South Africa Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 11.6.1. Market Size and Analysis 11.6.1.1. By Revenues 11.6.2. Market Share and Analysis 11.6.2.1. By Category 11.6.2.2. By Application 11.6.2.3. By Equipment 12. Asia-Pacific Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 12.1. Market Size and Analysis 12.1.1. By Revenues 12.2. Market Share and Analysis 12.2.1. By Category

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Table of Content 12.2.2. By Application 12.2.3. By Equipment 12.2.4. By Systems 12.2.5. By End Users 12.2.6. By Country 12.2.6.1. China 12.2.6.2. Japan 12.2.6.3. India 12.2.6.4. South Korea 12.2.6.5. South East Asia 12.2.6.6. Rest of Asia Pacific 12.3. China Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 12.3.1. Market Size and Analysis 12.3.1.1. By Revenues 12.3.2. Market Share and Analysis 12.3.2.1. By Category 12.3.2.2. By Application 12.3.2.3. By Equipment 12.4. Japan Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 12.4.1. Market Size and Analysis

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Table of Content 12.4.1.1. By Revenues 12.4.2. Market Share and Analysis 12.4.2.1. By Category 12.4.2.2. By Application 12.4.2.3. By Equipment 12.5. India Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 12.5.1. Market Size and Analysis 12.5.1.1. By Revenues 12.5.2. Market Share and Analysis 12.5.2.1. By Category 12.5.2.2. By Application 12.5.2.3. By Equipment 12.6. South Korea Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F 12.6.1. Market Size and Analysis 12.6.1.1. By Revenues 12.6.2. Market Share and Analysis 12.6.2.1. By Category 12.6.2.2. By Application 12.6.2.3. By Equipment 12.7. South East Asia Aquaponic and Hydroponic Systems and Equipment Outlook, 2017- 2027F

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Table of Content 12.7.1. Market Size and Analysis 12.7.1.1. By Revenues 12.7.2. Market Share and Analysis 12.7.2.1. By Category 12.7.2.2. By Application 12.7.2.3. By Equipment 13. Global Aquaponic and Hydroponic Systems and Equipment Key Strategic Imperatives for Success and Growth 14. Competitive Outlook 14.1. Competition Matrix 14.1.1. Application Portfolio 14.1.2. Brand Specialization 14.1.3. Target Markets 14.1.4. Target Applications 14.1.5. Research & Development 14.1.6. Strategic Alliances 14.1.7. Strategic Initiatives 14.2. Company Profiles (Business Description, Application Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans) 14.2.1. AMHYDRO 14.2.2. Aquaponic Lynx LLC 14.2.3. Argus Control Systems Ltd

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Table of Content 14.2.4. Backyard Aquaponics 14.2.5. BetterGrow Hydro 14.2.6. ECF Farmsystems 14.2.7. Agro Green Tech LLC 14.2.8. Hydrofarm 14.2.9. LivinGreen 14.2.10. My Aquaponics 14.2.11. Nelson and Pade, Inc. 14.2.12. Perth Aquaponics 14.2.13. Hydrilla 15. Disclaimer

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19

Document Outline

02

Research Scope

23

Sample Illustration

56

Research Process & Methodology

65 67 69 © 2021 | Reproduction is forbidden unless authorized | All Rights Reserved

Report Particulars, Key Questions Answered, Market Segmentation, Table of Content

Global Aquaponic and Hydroponic Systems and Equipment Market Research Report: Forecast (2022-2027) Research Approach, Research Methodology

Commercials About MarkNtel Advisors Who we are?

Disclaimer & Contact Details

20

Global Aquaponic and Hydroponic Systems and Equipment Market Outlook, 2017-2027F

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21

Global Aquaponic and Hydroponic Systems and Equipment Market, By Revenues Figure XX: Global Aquaponic and Hydroponic Systems and Equipment Market Revenues (USD Million), 2017-2027F

CAGR

2017

2018

CAGR

Revenues: XX.XX%

2019

2020

2021

2022F

2023F

2024F

Revenues: XX.XX%

2025F

2026F

2027F

Source: MarkNtel Advisors

Overview •

The market has observed considerable growth in the Global Aquaponic & Hydroponic Equipment Market historically. This growth has been due to the increasing integration of Aquaponic and Hydroponic techniques of agriculture production, in place of traditional farming methods. The benefits of using these techniques, such as reduced wastage, pesticide- and herbicide-free crop produce, easily accommodated in small spaces, have been some of the added advantages of the method assisted in the development of the market. Countries, like India, have been implementing new techniques of agriculture rapidly. For instance: In 2021, BASF Venture Capital announced to invest an undisclosed amount in UrbanKisaan, an Indian startup which specializes in hydroponic cultivation of various types of vegetables, greens and herbs in tropical urban environments. © 2021 | Reproduction is forbidden unless authorized | All Rights Reserved

22

Global Aquaponic and Hydroponic Systems and Equipment Market, By Category Figure XX: Global Aquaponic and Hydroponic Systems and Equipment Market Revenue Share (%) & Market Revenues (USD Million), By Category, 2021 & 2027F Revenue Share (Percentage)

Market Size (USD Million), 2021 & 2027F

Aquaponics

2021

2027F Hydroponic

2021

2027F Aquaponics

Hydroponic

Source: MarkNtel Advisors

Market Synopsis •

Based on Category, Aquaponics and Hydroponics both have depicted a substantial growth since 2017, owing to the rising inclination towards adoption of sustainable farming methods. Hydroponic and Aquaponic methods have been able to solve the problem of water scarcity by using less freshwater for vegetation.

•

Hydroponic has acquired a primary share in the global aquaponics and hydroponics systems and equipment market, due to the ease of installing the hydroponic systems in a limited space, majorly at homes. Companies, like Lettuce Grow. a US-based company, have documented the difference between conventional farming and hydroponic farming and recorded the benefits, such as considerable water saving, only 4 square feet of space required for farming, etc. These benefits of hydroponics have acted as a catalyst in the surging market share of hydroponics and the overall advancement of the Aquaponic and Hydroponic Systems & Equipment Market globally. © 2021 | Reproduction is forbidden unless authorized | All Rights Reserved

23

Global Aquaponic and Hydroponic Systems and Equipment Market, By Application Figure XX: Global Aquaponic and Hydroponic Systems and Equipment Market Revenues (USD Million), By Application, 2017-2027F Application

2017

2018

2019

2020

2021

2022F

2023F

2024F

2025F

2026F

2027F

Vegetables

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Fruits

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Herbs

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Fish

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Others

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Source: MarkNtel Advisors

Market Introduction •

The majority of the demand for hydroponic and aquaponics systems have been observed for growing vegetables and, therefore, it has been the highlight of the market since 2017. Lettuce, spinach, carrots, etc., were the most common vegetables grown by the customers using hydroponics and aquaponics systems in recent years. These vegetables among several others are high in water content due to its nature and require lots of water at the time of farming. However, with the integration of modern farming techniques and equipment, including aquaponics, hydroponic, etc., the huge requirement for water has minimalized.

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24

Global Aquaponic and Hydroponic Systems and Equipment Market, By Equipment Figure XX: Global Aquaponic and Hydroponic Systems and Equipment Market Revenues (USD Million), By Equipment, 2017-2027F Equipment

2017

2018

2019

2020

2021

2022F

2023F

2024F

2025F

2026F

2027F

LED Grow Lights

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

HVAC

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Irrigation Systems

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Aeration Systems

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Others

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Source: MarkNtel Advisors

Segment Overview •

The demand for irrigation systems has experienced a notable upsurge in recent years. Irrigation system in aquaponic and hydroponic helps in reducing the overall consumption of freshwater content, and precisely distributing it evenly to the roots through the dripping process. Due to its essential role in the farming process, its demand would continue to see an emerging trend in the years to come. Furthermore, the potential of large-scale implementation of irrigation systems in aquaponics and hydroponic systems would attract lots of attention, in terms of demand and innovation.

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25

Global Aquaponic and Hydroponic Systems and Equipment Market, By Systems Figure XX: Global Aquaponic and Hydroponic Systems and Equipment Market Revenues (USD Million), By Systems, 2017-2027F Systems

2017

2018

2019

2020

2021

2022F

2023F

2024F

2025F

2026F

2027F

Nutrient Film Techniques

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Deep-Water Culture Systems

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Media Filled Grow Beds

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Ebb and Flow Systems

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Others

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Source: MarkNtel Advisors

Overview •

Based on systems, nutrient film techniques and media-filled grow beds held a considerable share in the Global Aquaponic and Hydroponic Systems and Equipment market in recent years. They are increasingly becoming the first choice for unconventional farming. The nutrient film technique is part of the hydroponic method and is suitable for growing small plants, like lettuce. These sorts of systems are easy to set up and provide a steady stream of nutrient-rich water to the plant roots which is circulated using a combination of pumping and gravity draining. Therefore, its share has seen a notable rise in the past years and is expected to elevate in the following years also. © 2021 | Reproduction is forbidden unless authorized | All Rights Reserved

26

Global Aquaponic and Hydroponic Systems and Equipment Market, By End Users Figure XX: Global Aquaponic and Hydroponic Systems and Equipment Market Revenue Share (%) & Market Revenues (USD Million), By End User, 2021 & 2027F Revenue Share (Percentage)

Market Size (USD Million), 2021 & 2027F

Micro Farms Homes

2021

Aquaponic Farms

2027F

Others

2021

2027F

Source: MarkNtel Advisors

Micro Farms & Homes Dominating the Market •

The installation of aquaponics and hydroponic systems and equipment have been visibly more in the backyard of the homes and micro-farms as it requires minimum space for growing crops, compared to what is needed in traditional farming. In addition, the urge for consumption of fresh farm produce has surged the market share of homes in the overall aquaponics and hydroponic systems and equipment market during 2017-2020.

•

Micro farms, on the other hand, have been increasingly implementing aquaponics and hydroponic method for chemical agriculture production and selling the produce at a premium price. For Instance: A farmer in India, with the help of aquaponics, has been growing fresh vegetables in the water-scarce region and selling around 125-150 kilograms of produce at hiked prices to five-star hotels and premium stores in the capital of the country. © 2021 | Reproduction is forbidden unless authorized | All Rights Reserved

27

Global Aquaponic and Hydroponic Systems and Equipment Market, By Competitors Figure XX: Global Aquaponic and Hydroponic Systems and Equipment Market Share (Percentage), By Competitors, 2021

Others (USD XX Million)

AMHYDRO (USD XX Million)

 XX

 XX

 XX

 XX

Hydrofarm (USD XX Million)

Aquaponic Lynx LLC (USD XX Million)

USDXX Million

 XX

 XX

 XX

 XX

BetterGrow Hydro (USD XX Million)

Backyard Aquaponics (USD XX Million)

 XX

 XX

 XX

 XX Source: MarkNtel Advisors

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28

North America Aquaponic and Hydroponic Systems and Equipment Market Outlook, 2017-2027F

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29

North America Aquaponic and Hydroponic Systems and Equipment Market, By Revenues Figure XX: North America Aquaponic and Hydroponic Systems and Equipment Market Revenues (USD Million), 2017-2027F

CAGR

2017

•

2018

CAGR

Revenues: XX.XX%

2019

2020

2021

2022F

2023F

2024F

Revenues: XX.XX%

2025F

2026F

2027F

Source: MarkNtel Advisors

The growing population and its consumption, burgeoning demand for organic vegetables and fruits, high disposable income, enhancements in urban farming, among

other factors, have contributed to the growth of North America’s Aquaponic and Hydroponic Systems and Equipment Market, during 2017-20. The controlledenvironment agriculture, such as aquaponics and hydroponic methods, has become a part of a broader trend of urban farming in North America. People residing in the region and even businesses have shifted their focus towards large-scale commercialization. Therefore, the potential of hydroponic and aquaponic systems is immense in the region and is expected to flourish with the growing number of businesses getting registered in the region. For instance: In 2019, Gotham Greens, a US-based company that uses the hydroponic method to grow salad greens and herbs, opened three new 100,000 square foot greenhouses in Chicago, Providence, and Baltimore, expanding its distribution to more than 40 U.S. states.

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30

North America Aquaponic and Hydroponic Systems and Equipment Market, By Category Figure XX: North America Aquaponic and Hydroponic Systems and Equipment Market Revenue Share (%) & Market Revenues (USD Million), By Category, 2021 & 2027F Revenue Share (Percentage)

Market Size (USD Million), 2021 & 2027F

Aquaponics

2021

2027F Hydroponic

2021

2027F Aquaponics

Hydroponic

Source: MarkNtel Advisors

Market Synopsis •

Based on Category, Aquaponics witnessed a notable growth in the North America Aquaponic and Hydroponic Systems and Equipment Market, during 2017-19. This trend is expected to heighten in the coming years as an increasing number of individuals and companies are engaging and implementing aquaculture in the region.

Despite the positive trend, large-scale commercialization is still lacking in the region, as of 2021.

•

On a positive note, several initiatives taken up by individuals, start-ups, or government institutions, have advocated market growth in recent years. For instance: •

BitGrange, an urban farming platform operating in North America, provides hydroponic- and IoT-based systems, which produce edible plants with little water and energy. © 2021 | Reproduction is forbidden unless authorized | All Rights Reserved

31

North America Aquaponic and Hydroponic Systems and Equipment Market, By Application Figure XX: North America Aquaponic and Hydroponic Systems and Equipment Market Revenues (USD Million), By Application, 2017-2027F Application

2017

2018

2019

2020

2021

2022F

2023F

2024F

2025F

2026F

2027F

Vegetables

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Fruits

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Herbs

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Fish

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Others

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Source: MarkNtel Advisors

Overview •

XX

•

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© 2021 | Reproduction is forbidden unless authorized | All Rights Reserved

32

North America Aquaponic and Hydroponic Systems and Equipment Market, By Equipment Figure XX: North America Aquaponic and Hydroponic Systems and Equipment Market Revenues (USD Million), By Equipment, 2017-2027F Equipment

2017

2018

2019

2020

2021

2022F

2023F

2024F

2025F

2026F

2027F

LED Grow Lights

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

HVAC

XX

XX

XX

XX

XX

XX

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XX

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Irrigation Systems

XX

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XX

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Aeration Systems

XX

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XX

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Others

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XX

Source: MarkNtel Advisors

•

Based on equipment, aeration, and irrigation systems are the prominent segments that sought high demand during the historical period. The hydroponics method requires high water consumption due to which the demand for irrigation and aeration systems have experienced a notable demand surge in urban farming techniques.

However, several players in the region have come up with unique and disruptive solutions, which could hamper the demand for both the equipment. For instance: •

In 2019, FloNergia Inc., an Ontario-based company, revealed its patent-pending solution for aquaculture operations. The company presented FloMov, which combines water circulation and aeration system in a single device by using a single air source to perform both functions simultaneously.

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33

North America Aquaponic and Hydroponic Systems and Equipment Market, By Systems Figure XX: North America Aquaponic and Hydroponic Systems and Equipment Market Revenues (USD Million), By Systems, 2017-2027F Systems

2017

2018

2019

2020

2021

2022F

2023F

2024F

2025F

2026F

2027F

Nutrient Film Techniques

XX

XX

XX

XX

XX

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XX

XX

XX

XX

XX

Deep-Water Culture Systems

XX

XX

XX

XX

XX

XX

XX

XX

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Media Filled Grow Beds

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Ebb and Flow Systems

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Others

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Source: MarkNtel Advisors

© 2021 | Reproduction is forbidden unless authorized | All Rights Reserved

34

North America Aquaponic and Hydroponic Systems and Equipment Market, By End Users Figure XX: North America Aquaponic and Hydroponic Systems and Equipment Market Revenue Share (%) & Market Revenues (USD Million), By End User, 2021 & 2027F Revenue Share (Percentage)

Market Size (USD Million), 2021 & 2027F

Micro Farms Homes

2021

Aquaponic Farms

2027F

Others

Micro Farms to Accumulate Considerable Demand •

2021 Micro Farms

Homes

2027F Aquaponic Farms Others

Source: MarkNtel Advisors

Based on end-users, micro-farms and homes held a significant share in the North American hydroponics and aquaponics systems and equipment market in the past years. Micro farms can be set up nearly anywhere as their size ranges from 800 sq. ft. to approximately 1,100 sq. ft. Additionally, the rising concept of indoor farming in the region has propagated the requirement for hydroponic and aquaponic systems market in micro-farms. Besides Micro farms, homes have also accumulated a sizeable demand growth for hydroponic and aquaponic systems in recent years due to less space consumption by implementing aquaponics and hydroponic technique. Further, with the help of these techniques an individual can utilize the surplus output for generating extra income by selling it commercially. Due to this, hydroponics and aquaponic systems would accumulate considerable demand growth for homes during 2022-27.

© 2021 | Reproduction is forbidden unless authorized | All Rights Reserved

35

The US Aquaponic and Hydroponic Systems and Equipment Market Outlook, 2017-2027F

© 2021 | Reproduction is forbidden unless authorized | All Rights Reserved

36

The US Aquaponic and Hydroponic Systems and Equipment Market, By Revenues Figure XX: The US Aquaponic and Hydroponic Systems and Equipment Market Revenues (USD Million), 2017-2027F

CAGR

2017

2018

CAGR

Revenues: XX.XX%

2019

2020

2021

2022F

2023F

2024F

Overview •

Revenues: XX.XX%

2025F

2026F

2027F

Source: MarkNtel Advisors

The US has captured a prominent share in the overall Aquaponic and Hydroponic Systems and Equipment Market during the historical period. The rising awareness about unconventional farming methods, including aquaponics, hydroponic, etc., coupled with an increasing count of players in the industry and their unique marketing strategies to attract diverse end consumers, have accelerated the demand for equipment and systems used for hydroponic and aquaponic methods over the last few years. Furthermore, the growing popularity of greenhouse horticulture and agriculture has stimulated the demand for hydroponics and aquaponics systems in the country. In the past, grocery stores owners have turned toward hydroponic farmers to cater to their grocery demand during harsh weather conditions. This demand is further projected to elevate in the forecast years with the legalization of medicinal plants, like marijuana, in the country.

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37

The US Aquaponic and Hydroponic Systems and Equipment Market, By Category Figure XX: The US Aquaponic and Hydroponic Systems and Equipment Market Revenue Share (%) & Market Revenues (USD Million), By Category, 2021 & 2027F Revenue Share (Percentage)

Market Size (USD Million), 2021 & 2027F

Aquaponics

2021

2027F Hydroponic

2021

2027F Aquaponics

Hydroponic

Source: MarkNtel Advisors

•

Hydroponics have gained the primary share in the overall US Aquaponic and Hydroponic Systems and Equipment Market between 2017-2021. This has been due to the high number of implementation of hydroponic farming in the country. There were over 2,300 Hydroponic Crop Farming businesses in the US as of 2021, an increase of 0.4% from 2020. As the demand for vegetables, fruits, fish, etc., is increasing, the players have also elevated their production to match the growing need. For instance: •

In 2020, a farming company named "Plenty" uses indoor vertical farming, announced the receiving of funding of around USD 140 million in a Series D financing round for the expansion and development of a new farm in Compton, California. The funding would be used to cater to the growing demand for its freshly produced vegetables via hydroponic farming techniques.

•

Similarly, Aerofarm, a specialized version of a hydroponic farm known as aeroponic, reported 20 million pounds of vegetable production per year.

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38

The US Aquaponic and Hydroponic Systems and Equipment Market, By Application Figure XX: The US Aquaponic and Hydroponic Systems and Equipment Market Revenues (USD Million), By Application, 2017-2027F Application

2017

2018

2019

2020

2021

2022F

2023F

2024F

2025F

2026F

2027F

Vegetables

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Fruits

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Herbs

XX

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Fish

XX

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XX

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XX

XX

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Others

XX

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XX

XX

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XX

XX

XX

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XX

Source: MarkNtel Advisors

© 2021 | Reproduction is forbidden unless authorized | All Rights Reserved

39

The US Aquaponic and Hydroponic Systems and Equipment Market, By Equipment Figure XX: The US Aquaponic and Hydroponic Systems and Equipment Market Revenues (USD Million), By Equipment, 2017-2027F Equipment

2017

2018

2019

2020

2021

2022F

2023F

2024F

2025F

2026F

2027F

LED Grow Lights

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

HVAC

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Irrigation Systems

XX

XX

XX

XX

XX

XX

XX

XX

XX

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Aeration Systems

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Others

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

Source: MarkNtel Advisors

© 2021 | Reproduction is forbidden unless authorized | All Rights Reserved

40

Document Outline

02

Research Scope

23

Sample Illustration

56

Research Process & Methodology

65 67 69 © 2021 | Reproduction is forbidden unless authorized | All Rights Reserved

Report Particulars, Key Questions Answered, Market Segmentation, Table of Content

Global Aquaponic and Hydroponic Systems and Equipment Market Research Report: Forecast (20212027) Research Approach, Research Methodology

Commercials About MarkNtel Advisors Who we are?

Disclaimer & Contact Details

41

Disclaimer •

MarkNtel Advisors LLP provides valuable market intelligence to an exclusive group of customers in response to orders. The report is licensed for the customer's internal use only and is subject to restrictions set henceforth. This document and its contents are confidential and may not be further distributed, published, or reproduced, in whole or in part, by any medium or in any form for any purpose, without the written consent of MarkNtel Advisors. The customer will not disclose the contents of the report, whether directly through any medium or indirectly through incorporation in a database, marketing list, report or otherwise, or use or permit the use of information to generate any statistical or other information that is or will be provided to third parties, or voluntarily produce information in legal proceedings.

•

Market reports are based on expectations, estimates and projections as of the date such information is available. Any recommendation contained in this report may not be suitable for all investors or businesses. The market conclusions drawn are necessarily based upon a number of estimates and assumptions that, while considered reasonable by MarkNtel Advisors as of the date of such statements, are

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