The Global Aquaponics Market is forecast to grow at a CAGR of 11.13% during the period 2019-2023.
One trend affecting this market is the growing inclination toward CSA practices. CSA is an approach that reduces the environmental impact and ensures food security during a climate change. CSA helps in achieving a sustainable food system. In fisheries, the climate variation leads to the reduction of fish availability.
According to the report, one driver influencing this market is the increase in number of aquaponic farms. With the shrinkage in arable land and increasing demand for food products, the need for using urban space in new ways to increase food production is expected to fuel the growth of the global aquaponics market.
Further, the report states that one challenge affecting this market are the high set-up cost and maintenance cost of aquaponics. The high investment to set up and maintain aquaponic systems is a major challenge for the growth of the global aquaponics market.