Aquarium Market 2023 Analysis, Demand, Growth Analysis ... - Digital Journal

The Aquarium Market Report is a valuable source of insightful data for business strategists and covering all aspects of the market, providing up-to-date information on current trends. It offers an in-depth valuation of several features of industries such as market overview, present development valuations, historical and future evaluation, current trends, Porter's five forces analysis, SWOT valuations and clients operating in numerous regions. The data reports also provide valuable data to expand the understanding, scope, Types and application of this report. The report covers detailed study of Aquarium market segmentation, regional and country breakdown. This Research will offer a clear and precise idea about the entire market to the readers to take beneficial decisions.

The global aquarium market size to be valued at USD 11 billion by 2029 and is expected to grow at a compound annual growth rate (CAGR) of 12.87% during the forecast period.

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Market key Players: – Central Garden and Pet, EHEIM, Juwel Aquarium, Hagan, Marukan, D-D, TMC, OASE (biOrb), PHILPS, Tetra, AZOO, API, Aqua Design Amano, Penn-Plax, Arcadia, Sunsun, Shenzhen Resun, Hailea, Boyu, Minjiang, Hinaler, Chuangxing, Liangdian, Chengdu Zhituo

Segment by Type:

Aquarium Tank

Filtration Equipment

Temperature Control Equipment

Lighting Equipment

Oxygen Equipment

The component aquarium segment accounted for the largest revenue share of 47.0% 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. The component aquarium includes products, such as display tanks, lighting, heating & cooling products, water movement, and filtration units.

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. Also, siphon hoses and gravel vacuums can now be attached directly to a sink setup to drain or fill a tank for easy cleaning and maintenance.

Segment by Applications:

Household & Office

Commercial

Zoo & Oceanarium

Other Applications

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. Economic growth-led household income rise is also a key factor defining the nature of aquariums procured by the populace of a particular region.

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, mentioned that this aforementioned trend, along with advanced design trends (aquariums as a feature of home décor), is among the key factors consistently driving sales from the household segment.

The Aquarium Market report covers analysis of following regions:
1. South America Covers Colombia, Brazil, and Argentina etc.
2. North America Covers Canada, United States, and Mexico etc.
3. Europe Market Covers UK, France, Italy, Germany, and Russia etc.
4. The Middle East and Africa Covers UAE, Saudi Arabia, Egypt, Nigeria, and South Africa etc.
5. Asia Pacific Covers Korea, Japan, China, Southeast Asia, and India etc.

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. For instance, A Galician FLAG has supported the creation of Europe's first commercial coral farm, growing approximately 5,000 corals annually and attracting school trips from around the area. This is expected to support the growth of the Europe regional market.

Asia Pacific is projected to register the fastest CAGR from 2023 to 2029. 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. For instance, over 30,000 live fish created moving psychedelic artwork at Hidetomo Kimura's Art Aquarium Museum 2020 exhibition in Tokyo. The live art exhibition features over 30,000 live fish that are displayed in water tanks and aquariums of different shapes and sizes.

Recent Developments

• In June 2022, Corci, an Italian company, announced the addition of the Amtra branded cooling fan into its product portfolio. This aims to provide solution cooling solutions in the water due to hot summers.
• In April 2022, Tropical Marine Center, Ltd. announced the invention of the world's first biobank that contains living corals. This invention aims to leverage private and public aquariums around the world.

Key highlights of the Market report:
– Present Growth rate
– Renumeration prediction
– Consumption graph
– business concentration ratio
– Secondary business competitors
– Global Competitive structure
– Main restraints
– Market drivers
– Regional bifurcation
– Competitive hierarchy
– Current market tendencies
– Market concentration analysis

Browse Full Report and TOC:-
https://www.marketinsightsreports.com/reports/011711376878/global-aquarium-market-research-report-2023?mode=137&source=xh

Following are major TOC of Aquarium Market:

Chapter 1:  Market Overview, Product Overview, Market Segmentation, Market Overview of Regions, Market Dynamics, Limitations, Opportunities and Business News and Policies.

Chapter 2:  Industry Chain Study, Upstream Raw Material Suppliers, Main Players, Production Process Analysis, Cost Analysis, Market Channels, and Major Downstream Buyers.

Chapter 3: Value Study, Production, Growth Rate and Price Analysis by Type.

Chapter 4: Global Market Downstream Features, Consumption and Market Share by Application.

Chapter 5: Production Volume, Price, Gross Margin, and Revenue ($) of Aquarium by Regions.

Chapter 6: Aquarium Production, Consumption, Export, and Import by Regions.

Chapter 7: Recent Market Status and SWOT Analysis by Regions.

Chapter 8: Global Competitive Landscape, Product Introduction, Business Profiles, Market Distribution Status by Companies.

Chapter 9:  Market evaluation and Forecast by Type and Application.

Chapter 10:  Market assessments and Forecast by Regions.

Chapter 11: Aquarium Industry Characteristics, Key Factors, New Entrants SWOT Analysis, Investment Feasibility Analysis.

Chapter 12:  Market Conclusion of the Complete Report.

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