Major players in the reef aquarium market are Jebao, API, Aqua Design Amano Co. , Ltd. , EHEIM GmbH & Co. KG, AZOO, Interpet, JUWEL Aquarium AG & Co. KG, Arcadia, Tropical Marine Centre Limited, OASE GmbH, D-D The Aquarium Solution Ltd, Hagan, Marukan, TMC, Tetra, Taikong Corp, and Spectrum Brands, Inc.
New York, June 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Reef Aquarium Global Market Report 2022" - https://www.reportlinker.com/p06284253/?utm_source=GNW
The global reef aquarium market is expected to grow from $4.05 billion in 2021 to $4.30 billion in 2022 at a compound annual growth rate (CAGR) of 6.20%. The growth is mainly due to the companies’ resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.25 billion in 2026 at a CAGR of 9.79%.
The reef aquarium market consists of the sales of reef aquariums by entities (organizations, partnerships, and sole proprietors) that refer to an aquarium that displays corals, including candy cane coral, hammer coral, frogspawn coral, and pulse coral. It contains different types of live coral and other marine invertebrates such as tangs, clownfish, gobies, and others.
The main reef aquarium component types include display tank, filtration, lighting, heating, cooling, and water chemistry.The display tank contains the livestock and comes in two types: acrylic and glass.
The different reef aquarium products include natural and artificial for end-users such as households, commercials, zoos, and oceanariums.
Europe will be the largest region in the reef aquarium market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The rising awareness of the health benefits of having aquariums is driving the reef aquarium market.There are many benefits associated with keeping a home aquarium, such as a reduction in stress, an improvement in sleep quality, and better heart health.
Reef aquariums reduce pain and anxiety and help to improve concentration and creativity.According to the research published in the journal environment & behavior, there is an improvement in the physical and mental well-being of people who spend time watching aquariums and fish tanks.
Thus, increasing awareness among people about having reef aquariums is contributing to the growth of the market.
Players in the reef aquarium market are focusing on new product development to stay competitive in the market.This trend is positively impacting the market.
For instance, in September 2021, Orphek, a Canadian company engaged in providing a range of LED aquarium lighting solutions, launched the new Atlantik iCon reef aquarium LED lighting for coral growth and colour pop.This is developed with friendly technology that is easy to use and is smartphone compactible.
Furthermore, the new Orphek App works with both Android and iOS, with voice control, iCloud support, and other such features.
In July 2021, Bulk Reef Supply, the largest online saltwater aquarium retailer in America, acquired California-based Marine Depot for an undisclosed amount.The combined company operates as Bulk Reef Supply, which operates the educational platform Reef Builders.
MarineDepot.com is a US-based e-commerce company that sells aquarium supplies for fish keeping and reef-keeping hobbyists.
The countries covered in the reef aquarium market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06284253/?utm_source=GNW
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