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Aquaponic and Hydroponic Systems and Equipment Market Will Hit Big Revenues by 2026

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BIS RSRCH
Aquaponic and Hydroponic Systems and Equipment Market Will Hit Big Revenues by 2026

The primary source of livelihood for a majority of the global population is agriculture. Agriculture is also the main source of national income for most developing countries. However, for developed countries, agriculture contributes a smaller percentage to their national income. In recent times, agriculture has come under scrutiny due to its adverse effects on the environment, which include depletion of natural resources, contamination of water sources, and misuse of synthetic chemical inputs. There is less land available for crops, and growers are constantly looking for alternative and safer ways to grow plants using less space. This has led to an increased emphasis on soilless production systems for small and large-scale commercial production of crops.  At the forefront of the soilless system are hydroponics and aquaponics, which provide growers with many important benefits for plant growth and minimize potentially dangerous environmental impacts.

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Hydroponics is a method of growing plants without soil. At first, it seems counterintuitive to grow plants without soil, but hydroponics is a diverse system that works better than conventional methods of growing plants in soil. In the hydroponic growing system, the nutrient-rich aquatic solution is flushed through the plant root to provide the plant with the necessary resources for optimal growth. Using a hydroponic planting system has many advantages: it consumes fewer resources, does not require arable land, and the quality of harvestable plants is higher than that of conventional planting methods.

Aquaponics is another innovative system to grow plants without soil. However, it is slightly different from hydroponics. Aquaponics is a combination of hydroponic and aquaculture. The aquatic solution does not obtain nutrients from the soil for plants but provides essential nutrients needed for plant growth directly to the roots, where they can effectively absorb nutrients.

Aquaponic and hydroponic growing systems provide a lot of benefits over conventional farming. Firstly, through these systems, the agricultural output can be increased drastically, which would help in solving the global food crisis. Secondly, food safety and security concerns have increased over time, especially in the Europe region. Through aquaponic techniques, food safety concerns can be met as the crop developed using these techniques are continuously monitored and are grown in a controlled manner. Since these systems provide all necessary requirements for plant growth, year-round crop production is possible through aquaponic and hydroponic techniques.

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The global aquaponic and hydroponic systems and equipment market is expected to increase global food production as there is no dependence on arable land and climatic conditions; year-round crop production can be achieved through these alternative farming techniques. With these techniques, a shift toward indoor growing and vertical farming is achievable, which is a big opportunity for the global aquaponic and hydroponic systems and equipment market.

A challenge for the growth of the aquaponic and hydroponic systems and equipment market is the high initial investment for achieving a medium and large-scale commercial setup. This is considered a major hindrance in adopting these alternative farming techniques, especially in developing countries. Along with the high initial cost, awareness about alternative farming techniques is somewhat limited in countries where agricultural production is low, such as countries in the Middle East region.

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