Published Date: 28-Feb-2022
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report Global Reef Aquarium Market, published by KBV research, The Global Reef Aquarium Market size is expected to reach $8.4 billion by 2027, rising at a market growth of 10.5% CAGR during the forecast period.
The Component market acquired maximum revenue share in the Global Reef Aquarium Market by Product 2020, thereby, achieving a market value of $3.9 billion by 2027. The growing trend of progress in fish aquarium tanks has fuelled a lot of product development and market dominance in this industry. Display tanks, lighting, heating and cooling goods, water movement, and filtration devices are all part of the component aquarium. The launch of various advanced products in the market like in-tank lighting with a variety of spectrums and intensities, would contribute to the growth of the segment.
The Household market is generating high revenue in the Global Reef Aquarium Market by End Use 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $3.5 billion by 2027. Reef aquariums are becoming more popular in homes as they enhance the aesthetics of the living space. The type of aquariums purchased by a region's population is likewise influenced by economic growth-driven increases in income level.
The Europe market region shows high market share in the Global Reef Aquarium Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2.8 billion by 2027. The Asia Pacific market is expected to witness a CAGR of 10.6% during (2021 - 2027). Additionally, The North America market is expected to witness a CAGR of 10.3% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/reef-aquarium-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Jebao Co. Ltd., Central Garden & Pet Company, Mars, Inc. (API Fish Care), EHEIM GmbH & Co. KG, Spectrum Brands Holdings, Inc., Aqua Design Amano Co., Ltd., Azoo Bio Corporation (Taikong Corporation), OASE GmbH (Argand Partners, LP), Tropical Marine Centre Ltd., and Monkfield Nutrition Ltd. (Arcadia Aquatic).
By End Use
Unique Offerings from KBV Research