III. Industry Analysis
The Aquaponics industry is expected to continue to grow marginally over the next five years.
Demand for organic fruit and vegetables has increased in recent years, boosting the industry’s revenue. Last year, the value of the US organic market totaled about $7.3 billion. Produce is the most popular organic food, representing about 43.0% of all organic food sales. Consumers have become increasingly concerned with the potential effects of genetically modified (GM) vegetables and pesticides on their bodies. Therefore, more consumers are buying organic produce. This industry provides a steady supply of organic produce.
Demand for industry products will also be bolstered by growth in per capita disposable income. Per capita disposable income is projected to expand, which will likely encourage consumers to buy more organic fruit and vegetables.