The global Reef Aquarium market size is expected to be worth around US$ 125.20 billion by 2030, according to a new report by Vision Research Reports.
The global Reef Aquarium market size was valued at US$ 5.89 billion in 2020 and is anticipated to grow at a CAGR of 11.7% during forecast period 2021 to 2030.
|Market Size||US$ 125.20 billion by 2030|
|Growth Rate||CAGR of 11.7% From 2021 to 2030
|Forecast Period||2021 to 2030|
|Segments Covered||Product, End-use|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Jebao Co. Ltd.; API Fish Care; EHEIM GmbH & Co. KG; Aqua Design Amano; Taikong Corp.; OASE GmbH; Tropical Marine CentRE Ltd.; Arcadia Aquatic; Interpret Ltd.|
Rising development in aquariums with advanced designs is supporting the market growth as people seek to accent showpieces to feature in a room. Planted tanks and aquascaping are the most popular and developing trends that favor market growth.
The rising awareness about the health benefits of having aquariums, such as relief from stress&anxiety, controlled heart rates, mood enhancements, which can also help Alzheimer's patients, are likely to contribute to market growth. For instance, as per researchers at the National Marine Aquarium in 2015, keeping aquariums has resulted in a significant reduction in people’s blood pressure. Constant advancements by companies through technological integration are rapidly transforming the adoption of reef aquariums, which, in turn, drives the market growth.
By Product Analysis
The component aquarium segment accounted for the largest revenue share of 48.0% in 2020 and is expected to maintain its dominance over the forecast period. The rising trend of advancement of fish aquarium tanks has supported a great amount of product growth and market dominance in this segment.
New product developments have a variety of different spectrums and intensities in-tank lighting, which contribute to the segment growth. For instance, Lunar LEDs opened up an entirely new realm of tank lighting providing gentle illumination in the right spectrum for nocturnal tank inhabitants.
Natural aquarium is anticipated to be the fastest-growing product segment from 2021 to 2030. Due to the growing awareness about sustainable practices and conservation of the living environment of various saltwater aquatic
By End-use Analysis
Household was the largest end-use segment in 2020 with a revenue share of 43%. Household use of reef aquariums is on the rise as these improve the aesthetics of a residential environment.
Advancements in smart technologies are also contributing to the growing number of aquarium hobbyists. For instance, Sr. Director of Marketing for Spectrum Brands, during a roundtable interview with Pet Product News.
Zoo & oceanarium is anticipated to be the fastest-growing end-user segment at a CAGR of 12.5% from 2021 to 2030. Aquariums used in zoos and oceanariums consist of saltwater aquariums and reef tanks.
By Regional Analysis
Europe accounted for the largest revenue share of over 32.2% in 2020. Several coral farms are being developed in the region and reef livestock are exported or sold to individual and specialized stores at around USD 5 to 150 per piece, on average.
Asia Pacific is projected to register the fastest CAGR from 2021 to 2030. A rise in demand for premium and exotic aquarium fish coupled with the increasing prominence of fish in the Japanese art culture supports market growth in this region.
Jebao Co. Ltd.
API Fish Care
EHEIM GmbH & Co. KG
Aqua Design Amano
Tropical Marine CentRE Ltd.
Zoo & Oceanarium
Central & South America
Middle East & Africa
The Reef Aquarium market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Reef Aquarium market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Reef Aquarium market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Reef Aquarium market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Reef Aquarium market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Reef Aquarium capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Reef Aquarium by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Reef Aquarium market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Reef Aquarium market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Reef Aquarium market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Reef Aquarium industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Reef Aquarium market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Reef Aquarium market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Reef Aquarium market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Reef Aquarium market. These factors have benefited the growth of the global market for Reef Aquarium. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Reef Aquarium. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Reef Aquarium are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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