South Korea Aquaponics Market to Grow at a CAGR of 10.5% During 2024-2032, Aided by the Increasing Demand for Nutritious Food

The South Korea aquaponics market growth is driven by rising demand for nutritious food and shifting climatic conditions. This trend underscores the importance of sustainable agriculture practices in response to evolving environmental challenges. Aquaponics, a blend of aquaculture and hydroponics, cultivates crops using organic waste from fish farms. The process involves recycling water between fish and plant systems. Aquaponics-grown produce is noted for its reduced nitrogen content and extended shelf life compared to conventional vegetables. The market is expanding due to growing interest in sustainable agriculture and the demand for organic food. 

Fig: Key Parameters for a 2.5 Acres Aquaponics Farm

According to estimates, a 2.5-acre aquaponics farm is anticipated to yield approximately 2,500 pounds of fresh organic greens and vegetables daily, along with about 50 tons of fish annually for consumption. Based on daily consumption estimates of 2 pounds of greens and vegetables and 2 pounds of fresh fish per family of five, the aquaponics farm could provide vegetable nutrition to around 1,200 families daily and fish nutrition to 137 families daily over the course of a year.

The aquaponics market is experiencing growth due to increased health consciousness and demand for organic products, amplified by the COVID-19 pandemic. Organically produced foods are perceived as healthier and tastier, free from harmful chemicals and fertilisers. These foods have lower nitrate and saturated fat levels and higher omega-3 fatty acids, potentially reducing the risk of cancer and cardiovascular diseases. This shift in consumer perception is driving the adoption of aquaponics in South Korea.

Climate change is driving the growth of the aquaponics market in South Korea, as adverse weather conditions challenge traditional agriculture. Globally, there is a demand for sustainable alternatives like aquaponics to combat soil erosion, biodiversity loss, and air pollution caused by conventional farming practices. The shift towards sustainable agricultural methods is prompted by concerns over groundwater salinization, reduced water availability, and other environmental impacts.

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Market Breakup by Equipment, Component, Growing System, Facility Type, Product Type, and Application:

• Based on equipment, the market can be divided into grow lights, pumps and valves, fish purge systems, in-line water heaters, aeration system, and water quality testing, among others.

• The market is segmented based on component into rearing tank, settling basin, bio-filter, and sump tank, among others.

• By growing systems, the market is segmented into media filled beds, nutrient film technique (NFT), and raft or deep-water culture.

• On the basis of facility type, the market is categorised into poly or glass greenhouses and indoor vertical farms, among others.

• Based on product type, the market is divided into fish, vegetables, herbs, and fruit.

• By application, the market is segmented into commercial and home production, among others.

Key Findings of the Report:

• Aquaponics attracts environmentally conscious individuals due to its significant environmental benefits compared to conventional agriculture, such as using 90% less water. 

• The increasing demand for fish, coupled with declining fish populations in natural water bodies, drives the adoption of aquaponics. 

• This innovative approach not only conserves water but also addresses the global demand for sustainable protein sources, making it a practical solution to food security challenges.

Key Offerings of the Report:

• The EMR report gives an overview of the South Korea aquaponics market for the periods (2018-2023) and (2024-2032). 

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the equipment, component, growing system, facility type, product type, and application of aquaponics in South Korea.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the South Korea aquaponics market are Manna CEA and Seouchae Farm, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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