Aquarium Market Report Overview
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The global aquarium market size was USD 12250 million in 2019 and will reach USD 19770 million by 2026, exhibiting a CAGR of 7.0% during the forecast period.
The exponential growth of the global aquarium market can be attributed to several key factors driving its popularity and widespread adoption. Firstly, the market has witnessed a surge due to the increasing trend of family activity and bonding. Setting up and maintaining an aquarium has become a shared endeavor, fostering stronger connections among family members and creating enduring memories. This shift toward family-oriented leisure activities has significantly contributed to the rising demand for aquarium-related products and services.
Additionally, the market has experienced a boost from the growing emphasis on mindfulness and meditation. The repetitive and calming nature of aquarium maintenance activities provides individuals with a unique outlet for relaxation and mental well-being. As consumers increasingly seek ways to manage stress and enhance their overall quality of life, the therapeutic benefits offered by aquariums have become a compelling reason for their adoption. The convergence of these factors aligns with the evolving lifestyle preferences of consumers, driving sustained growth in the aquarium market.
COVID-19 Impact: Demand Surged Due to Increased Consumer Engagement in Low-Maintenance Hobbies
The COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
Amidst the unprecedented challenges posed by the COVID-19 pandemic, the global aquarium market demonstrated remarkable resilience, adapting to the evolving circumstances. The impact of COVID-19 on the market was multifaceted. Firstly, increased time spent at home, driven by lockdowns and social distancing measures, became a pivotal factor contributing to the unexpected growth. As people sought companionship and engaging yet low-maintenance hobbies, aquariums emerged as an ideal choice, aligning with the trend of home-based activities.
Moreover, the pandemic-induced stress and mental health concerns prompted individuals to turn to activities that offered therapeutic benefits. Studies revealing the stress-relieving properties of watching fish contributed to the sustained demand for aquariums during these trying times. Additionally, the appeal of aquariums as a fun and educational activity for children stuck at home further fueled market growth. The surge in e-commerce also played a significant role, facilitating the accessibility of aquarium supplies and fish through online platforms, compensating for initial disruptions to traditional supply chains and brick-and-mortar stores. Despite challenges, the aquarium market not only weathered the storm but also experienced unexpected growth, highlighting its adaptability and enduring appeal in times of adversity.
Latest Trends
"Emphasis on Owning Rare or Exotic Creatures to Serve as Badges of Honor"
In the ever-evolving landscape of the aquarium hobby, a prominent trend gaining momentum is the emphasis on uniqueness and exclusivity. Collectors now view owning a rare or exotic creature as not only a source of pride but also as a means of standing out from the crowd. Whether it's the vibrant hues of a Mandarin fish, the delicate beauty of a Leafy Sea Dragon, or the otherworldly allure of Torch Corals, these prized possessions serve as badges of honor and conversation starters within the aquarium community. The challenge of acquiring and caring for such delicate creatures adds an extra layer of allure. Meticulous research, specialized equipment, and a deep understanding of their unique needs are essential. Successfully nurturing a rare fish to thrive becomes a testament to the collector's skill, offering them bragging rights and elevating their status in the community.
Beyond the personal challenge, there is a growing recognition of the investment potential in certain rare species. Exotic creatures like the Bladefin Basslet or the Peppermint Angelfish aren't just pets; they are potential financial assets. The exorbitant prices these rare species can command make them attractive to collectors with an eye for both beauty and financial gain. This dual appeal adds a new dimension to the aquarium hobby, transforming it from a passion into a potential investment venture.
Aquarium Market Segmentation
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- By Type Analysis
Based on type, the global market can be categorized into aquarium tanks, filtration equipment, temperature control equipment, lighting equipment, and oxygen equipment.
Aquarium tank: The aquarium tank segment constitutes the fundamental foundation of any aquarium setup, serving as the habitat for aquatic life.
Filtration equipment: Filtration equipment is vital for maintaining water quality within aquariums. It includes filters that remove impurities, ensuring a healthy environment for aquatic organisms.
Temperature control equipment: Temperature control equipment is crucial for regulating the water temperature within the aquarium. This segment includes heaters and chillers that help maintain optimal conditions for the well-being of fish and other aquatic species, ensuring they thrive in a stable and comfortable environment.
Lighting equipment: Lighting equipment is not only aesthetic but also serves a functional purpose in aquariums. It enhances the visual appeal of the tank, showcasing the vibrant colors of aquatic life. Additionally, lighting plays a role in supporting plant growth, contributing to the overall health of the aquarium ecosystem.
Oxygen equipment: Oxygen equipment is essential for providing aeration and maintaining proper oxygen levels in the aquarium. This segment includes aerators and pumps that ensure sufficient oxygen exchange, supporting the respiratory needs of fish and other inhabitants.
- By Application Analysis
Based on application, the global market can be categorized into household and office, commercial, zoo, and oceanarium.
Household and office: This segment caters to individual aquarium enthusiasts and businesses looking to incorporate aquatic elements into residential spaces or professional environments.
Commercial: The commercial segment addresses the needs of businesses and public spaces seeking to enhance their ambiance with aquarium installations. Restaurants, hotels, and retail establishments frequently utilize aquariums as captivating focal points to create a unique and inviting atmosphere.
Zoo and oceanarium: The zoo and oceanarium segment caters to larger, specialized facilities focused on showcasing diverse aquatic life to the public. These institutions feature expansive and immersive aquariums that simulate natural habitats and house a wide array of marine species.
Driving Factors
"Product’s Engagement Benefits to Propel Market Growth"
Engaging in the setup and maintenance of an aquarium has evolved into a meaningful family activity, playing a pivotal role in fostering robust bonds and crafting enduring memories. The collaborative effort involved in the shared responsibility of caring for an aquarium not only enhances the sense of togetherness within the family but also promotes active engagement among its members. This collective endeavor goes beyond the realm of a mere hobby, becoming a source of shared joy and a platform for building lasting connections among family members, ultimately fueling aquarium market growth.
"Rising Interest in Aquatic Hobbies to Amplify Market Expansion"
The surge in aquatic hobbies stands out as a significant driving factor for the burgeoning aquarium market. The escalating interest among individuals in the captivating realm of aquariums contributes substantially to market growth. The allure of cultivating a miniature underwater world within the confines of one's home holds broad appeal, captivating not only seasoned hobbyists but also attracting newcomers to the fascinating hobby. This increasing fascination with aquatic pursuits serves as a catalyst, propelling the market forward and creating a thriving ecosystem where experienced and novice enthusiasts converge to explore the enchanting world of aquariums.
Restraining Factor
"Limited Space and Resources to Impede Product’s Rising Demand"
One of the key restraining factors for the aquarium market is the requirement for space and resources. Some enthusiasts, especially those in urban settings or with limited living space, may find it challenging to accommodate larger aquarium setups. Additionally, the costs associated with maintaining a high-tech or elaborate aquarium can be a deterrent for budget-conscious consumers
Aquarium Market Regional Insights
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"Asia Pacific to Lead Due to Region’s Strong Demand for Unique and Exclusive Aquatic Specimens"
The market is primarily segregated into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa.
Asia Pacific is the leading region, holding the largest aquarium market share. This dominance is fueled by a booming economy, a growing cultural interest in aquariums, and a strong demand for unique and exclusive aquatic specimens. Specialized stores, sophisticated breeding programs, and even expeditions to remote habitats are flourishing in this region, pushing the boundaries of what's available and further solidifying its position as the global leader in this captivating niche of the hobby.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Central Garden and Pet (U.S.)
- EHEIM (Germany)
- Juwel Aquarium (Germany)
- Hagan (Canada)
- Marukan (Japan)
- D-D (U.K.)
- TMC (U.K.)
- OASE (biOrb) (Germany)
- PHILPS (Netherlands)
- Tetra (Germany)
- AZOO (Taiwan)
- API (U.S.)
- Aqua Design Amano (Japan)
- Interpet (U.K.)
- Arcadia (U.K.)
- Sunsun (China)
- Shenzhen Resun (China)
- Hailea (China)
- Boyu (China)
- Minjiang (China)
- Hinaler (China)
- Chuangxing (China)
- Liangdian (China)
- Chengdu Zhiruo (China)
INDUSTRIAL DEVELOPMENT
May 2023: Hanna Instruments entered the aquarium market with the HI 99146 multiparameter aquarium meter, a portable device designed to simplify and enhance water quality management. This meter allows hobbyists to accurately measure three critical parameters - pH, conductivity, and dissolved oxygen - with a single, user-friendly tool, eliminating the need for multiple separate testers. This innovation has been particularly welcomed by aquascapers and those caring for sensitive species, as precise control over these parameters is crucial for their well-being. With its portability and ease of use, the HI 99146 multiparameter aquarium meter has quickly become a valuable addition to the arsenal of dedicated aquarium enthusiasts.
Report Coverage
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 12250 Million in 2019 |
Market Size Value By |
US$ 19770 Million by 2026 |
Growth Rate |
CAGR of 7% from 2019 to 2026 |
Forecast Period |
2022-2026 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the global aquarium market expected to reach by 2026?
The global aquarium market is anticipated to reach USD 19770 million by 2026.
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What CAGR is the aquarium market expected to exhibit by 2026?
The aquarium market is expected to exhibit a CAGR of 7.0% by 2026.
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What are the driving factors of the aquarium market?
The driving factors include aquarium engagement benefits and the rising interest in aquatic hobbies.
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What are the key aquarium market segments?
The aquarium market segments by type include aquarium tanks, filtration equipment, temperature control equipment, lighting equipment, and oxygen equipment. In terms of application, the market is segmented into household and office, commercial, zoo, and oceanarium.