Global Aquarium Accessories Market 2016-2020
About Fish Keeping
Fish keeping is among the most popular of hobbies among millions of enthusiasts around the world. The US is the single largest importer of ornamental fish in the world. More than 2,500 marine fish species and 750 invertebrates have been imported into the US since 2000 to meet the demand of hobbyists in the country.
Technavio’s analysts forecast the global aquarium accessories market to grow at a CAGR of 4.82% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global aquarium accessories market for 2016-2020. To calculate the market size, the report considers the revenue generated through the sales of aquarium accessories only for household aquariums.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Aquarium Accessories Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Aquarium Accessories Market: Guangdong Boyu Group, Hagen, Penn-Plax, Qian Hu, Spectrum Brands, API, Aqueon, Aquaria, Arcadia, AZOO, Blue Ribbon, EHEIM, Hailea, Interpet, Jebao, Jebo, Tropical Marine Centre, United Pet Group, and ZooMed.
Commenting on the report, an analyst from Technavio’s team said: “One trend spurring market growth is the rising preference for technology-integrated products. Aquarists and hobbyists are using technological advancements, where equipment used for recreating aquariums are becoming smaller, more efficient, and smarter. This is also, making it easy to maintain and clean the aquarium. Aquariums are being designed to be compact and are designed to house corals and delicate reef vertebrates.”
According to the report, one driver that will lead to the growth of this market is the growth of aquarium service providers. There are many aquarium service providers that sell ornamental fish, fish tanks, fish food, cleaning equipment, and aquarium accessories. The growing interest of individuals in keeping aquarium fish has led to the establishment of new stores that sell aquarium-related products and services such as installations, maintenance, and cleaning. The aquarium stores employ skilled and knowledgeable staff to help consumers in maintaining their aquariums regularly at their residence.
Further, the report states that a major challenge for this market is the unsafe aspects of filtration and heating equipment. The aquarium accessories market witnessed certain recalls in the past few years due to faulty products. Such hazards and recalls pose a considerable threat to future sales and brand reputation, and also hinder the acceptance of related products by the consumers.
Guangdong Boyu Group, Hagen, Penn-Plax, Qian Hu, Spectrum Brands, API, Aqueon, Aquaria, Arcadia, AZOO, Blue Ribbon, EHEIM, Hailea, Interpet, Jebao, Jebo, Tropical Marine Centre, United Pet Group, and ZooMed.
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