The Asia Pacific Reef Aquarium Market would witness market growth of 10.6% CAGR during the forecast period (2021-2027).
The expansion of the Reef Aquarium Market is predicted by rising disposable income and desire for colourful fish aquariums. In addition, as technological developments and public knowledge about pet care improve, the adoption and demand for Reef Aquarium is expected to rise during the projected period. The growing popularity of colourful decorative fish for aquariums among millennials as part of a luxury lifestyle is likely to drive market expansion.
Live fish and other marine creatures are traded internationally for the aquarium hobby. Most tropical and subtropical coral reef fish, corals, and other marine aquarium species are gathered live from tropical and subtropical coral reefs, particularly in the Philippines, Indonesia, and other Asian countries.
The growing popularity of premium and exotic aquarium fish, as well as the increasing prominence of fish in Japanese art culture, are driving market expansion in this region. For instance, at Hidetomo Kimura's Art Aquarium Museum 2020 exhibition in Tokyo over 30,000 live fish formed moving psychedelic artwork. Over 30,000 live fish are on display in water tanks and aquariums of all shapes and sizes as part of the live art exhibition.
The China market dominated the Asia Pacific Reef Aquarium Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $668.3 million by 2027. The Japan market is anticipated to grow a CAGR of 10% during (2021 - 2027). Additionally, The India market would showcase a CAGR of 11.2% during (2021 - 2027).
Based on Product, the market is segmented into Component, Natural, and Artificial. Based on End Use, the market is segmented into Household, Zoo & Oceanarium, and Commercial. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Reef Aquarium Market is Projected to reach USD 8.4 Billion by 2027, at a CAGR of 10.5%
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).
By Product
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