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Global Aquarium Accessories Market to Grow at a CAGR of 5% During 2021-2026, Aided by the Rising Pet Ownership
According to a new report by EMR titled, ‘Global Aquarium Accessories Market Report and Forecast 2021-2026’, the global market for aquarium accessories is expected to grow at a CAGR of 5% in the forecast period of 2021-2026.
The global market for aquarium accessories is primarily being driven by the increasing demand for ornamental fish among consumers and the aesthetic advantages of having an aquarium at home. Fish preservation and ornamental plant decoration and the decoration of other invertebrates among consumers are becoming more common, especially in hospitals and public spaces, as it helps alleviate stress. This is expected to provide a boost to the aquarium accessories industry.
In the aquarium accessories industry, the decorative products segment is expected to hold the largest share in the forecast period and will be driven primarily by the increasing popularity of aqua spaces among hobbyists. Aquarium accessories are re-created by the hobbyists based on different themes and include various plants, decorations, backgrounds, substrates, as well as other decorative elements in the tanks. These aquarium accessories are widely available on various distribution channels, both offline and online. E-commerce platforms, including Amazon (NASDAQ: AMZN) offers a wide range of aquarium accessories. This is anticipated to boost the sales, especially with the rapid expansion of online retail channels, and, thus, is expected to drive the market growth in the coming years.
Market Analysis by Type, Distribution Channel, and Region:
- Based on type, the market is segmented into filtration items, lights and hoods, decorative items, and temperature control systems, among others.
- The distribution channels of aquarium accessories in the industry can be divided into online and offline.
- The regional markets for aquarium accessories include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Key Findings of the Report:
- The demand for aquarium accessories is rising due to the introduction of technologically advanced products.
- The equipment are now smaller and more effective, making the aquarium easy to maintain and clean, thus, driving its demand among consumers.
- The demand for aquarium accessories is also rising due to the product creativity in the decorative items segment.
- The growing number of aquariums in commercial and residential spaces is likely to bolster the market growth in the coming years.
Key Offerings of the report:
- The EMR report gives an overview of the global market for aquarium accessories for the periods (2016-2020) and (2021-2026).
- The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the types, distribution channels, and major regions of aquarium accessories.
- The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.
The major players in the global aquarium accessories market are Guangdong Boyu Group Co., Ltd., Spectrum Brands, Inc., Mars, Incorporated (API), and Rolf C. Hagen, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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