Study: Aquaponics market to increase 7.4% CAGR by 2028
The report opines that the numerous advantages of producing aquaponics vegetables over traditional farming production in terms of fertilizer use, land usage, water requirement and climatic constraints are expected to drive aquaponics market growth.
The aquaponics market is anticipated to increase at a rigorous 7.4% CAGR by produce type during the 2018-2028 period, according to analysis by Persistence Market Research, New York. Steady growth is due to increasing adoption of aquaponics techniques by farmers in various parts of the world to ensure year-round produce and curb accelerating food shortage concerns at regional levels.
In recent years, unpredictable weather conditions have considerably strained the global food supply chain, badly impacting the food produce. The year-long and consistent supply of aquaponic vegetables ensures food prices stability and irrespective of erratic climatic conditions, which according to the report, will bring traction to aquaponics market during the study period.