Dublin, March 15, 2022 (GLOBE NEWSWIRE) -- The "Global Reef Aquarium Market By Product, By End Use, By Regional Outlook, Industry Analysis Report and Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
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.
Reef aquariums are marine aquariums that feature live marine invertebrates, corals such as hammer coral, candy cane coral, pulse coral, and frogspawn coral, as well as other live marine invertebrates. It also features a variety of fish, including clownfish, tangs, and gobies, all of which help to preserve the tropical coral reef habitat. Turbulent water movement, powerful lighting, and more stable water chemistry are all required in a reef aquarium.
Animal polyps that secrete a calcareous skeleton make up the group of creatures known as stony corals. They are trafficked globally for sale as souvenirs, jewellery, and aquarium organisms, and are utilised locally for building materials, road construction, and lime manufacture. Living specimens, skeletons, and live rock, which consists of coral skeletons and coralline algae with other coral reef creatures attached, are all available for trade.
The removal of live rock, which is typically broken out of the reef with crowbars, threatens or destroys habitat for other species. Extraction of stony corals and living rock has been shown to cause erosion, habitat destruction, and biodiversity loss. Unless conservation efforts are strengthened, the devastation of coral reef ecosystems is likely to continue.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has significantly impacted various segments of the business domain. The imposition of various regulations like complete lockdown, travel ban and restrictions on imports & exports has resulted in the shutdown of many companies and several companies have taken initiatives and extra efforts to survive in these crises. The reef aquarium market was impacted by the COVID-19 pandemic due to stringent lockdowns in several locations and the temporary shutdown of non-essential enterprises.
Since everything is getting back on track, the demand for various non-essential things is expected to increase in the coming years. However, due to an increase in the number of pet owners during the pandemic, the market will grow significantly. Furthermore, fish tanks take up a lot less space, which has fuelled demand. This trend is presenting a number of opportunities for the residential market to expand.
Market Growth Factors:
Increasing popularity of aquarium as a part of interiors
Aquariums have been increasingly popular in recent years. There are different types of aquariums available in the market. As a result, the aquarium sector as a whole is small in scale but extremely valuable. Unlike freshwater aquarium species, which are currently farmed in large numbers, the vast majority of marine aquariums are stocked with wild species primarily from coral reefs and nearby environments. Coral reef habitats have been degraded as a result of these fishing, as well as other activities.
Rising penetration of e-commerce sites
The increasing prevalence of e-commerce and online sales is supporting the demand for various aquariums and its accessories. Consumers can access a variety of new products 24 hours a day, seven days a week through online platforms all over the world. Another advantage of aquarium accessories is that product information is more extensive, and it also provides consumers with insights in the form of consumer reviews and other means. Many reef aquarium vendors deal through online portals since their customer has high digital presence.
Marketing Restraining Factor:
Strict government regulations
The live reef fish trade's most serious issues stem from its mobility. As fertile reefs have vanished and governments have caught on to their fishing practises and begun to impose laws restricting the use of cyanide and explosives, the frontier of cyanide fishing has steadily moved through Southeast Asia to tropical Pacific islands, and even across the Indian Ocean to the Seychelles and Tanzania. Many exporting countries have acknowledged the hazards posed by the coral trade and have taken initiatives to mitigate them.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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).
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Reef Aquarium Market by Product
3.1 Global Reef Aquarium Component Market by Region
3.2 Global Reef Aquarium Natural Market by Region
3.3 Global Reef Aquarium Artificial Market by Region
Chapter 4. Global Reef Aquarium Market by End Use
4.1 Global Household Reef Aquarium Market by Region
4.2 Global Zoo & Oceanarium Reef Aquarium Market by Region
4.3 Global Commercial Reef Aquarium Market by Region
Chapter 5. Global Reef Aquarium Market by Region
Chapter 6. Company Profiles
6.1 Jebao Co. Ltd.
6.1.1 Company Overview
6.2 Central Garden & Pet Company
6.2.1 Company Overview
6.2.2 Financial Analysis
6.2.3 Segmental Analysis
6.3 Mars, Inc. (API Fish Care)
6.3.1 Company Overview
6.4 EHEIM GmbH & Co. KG
6.4.1 Company Overview
6.5 Spectrum Brands Holdings, Inc.
6.5.1 Company Overview
6.5.2 Financial Analysis
6.5.3 Segmental and Regional Analysis
6.5.4 Research & Development Expense
6.6 Aqua Design Amano Co., Ltd.
6.6.1 Company Overview
6.7 Azoo Bio Corporation (Taikong Corporation)
6.7.1 Company Overview
6.8 OASE GmbH (Argand Partners, LP)
6.8.1 Company Overview
6.9 Tropical Marine Centre Ltd.
6.9.1 Company Overview
6.10. Monkfield Nutrition Ltd. (Arcadia Aquatic)
6.10.1 Company Overview
For more information about this report visit https://www.researchandmarkets.com/r/wbqod5
