Reef Aquarium Industry Overview
The global reef aquarium market size to be valued at USD 11 billion by 2028 and is expected to grow at a compound annual growth rate (CAGR) of 10.7% during the forecast period.
Growing millennials’ interest in colorful ornamental fish for aquariums as a part of a luxury lifestyle is expected to remain a key factor for the market growth. The COVID-19 pandemic affected the market as a result of strict lockdown across various regions and the temporary closure of non-essential businesses. However, with a rise in the number of companion animal owners during the pandemic, the market will have significant growth. Moreover, fish tanks occupy a lot less space, which also has been driving the demand. This trend is creating several growth opportunities for the market in the residential sector.
Gather more insights about the market drivers, restrains and growth of the Global Reef Aquarium Market
The rising popularity of pet adoption across countries drives the penetration and growth prospects for reef aquariums. According to Insurance Information Institute, Inc., it has been estimated that there are over 128 million households in America and more than 85 million of them own a pet, with dogs, cats, and fish being the most popular.
Technological advancements in the pet care industry, such as pet cameras and automatic filters, have further augmented the market growth. Modern technology has made it easier than ever to cultivate and maintain a thriving aquarium at home. For instance, monitoring water chemistry in aquariums has been a constant concern for many years, but new in-tank devices can now deliver real-time measurements for everything, from pH levels to water hardness.
Browse through Grand View Research's Homecare Décor Industry Research Reports
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Reef Aquarium Market Segmentation
Grand View Research has segmented the global reef aquarium market on the basis of product, end use, and region:
Reef Aquarium Product Outlook (Revenue, USD Million, 2016 - 2028)
- Natural
- Artificial
- Component
Reef Aquarium End-use Outlook (Revenue, USD Million, 2016 - 2028)
- Household
- Commercial
- Zoo Oceanarium
Reef Aquarium Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Central South America
- Middle East Africa
Market Share Insights
- 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.
- 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 Companies profiled:
Some of the key companies in the global reef aquarium market are:
- 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.
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