The Latin America, Middle East and Africa Reef Aquarium Market would witness market growth of 12.8% CAGR during the forecast period (2021-2027).
Divers use cyanide squirt bottles or cyanide tablets to inject poison into reef cracks where fish hide. The poison stuns the fish, making it easy to catch them, and they normally recover in a few minutes. Fish are delivered to worldwide wholesalers after being transferred to storage tanks on ships. However, there is a high chance of damaging the liver, stomach, and other tissues of the fishes that are trapped with cyanide to die later.
The reefs where fish are caught suffer just as much as the fish: one research discovered that all cyanide-treated corals died three months after treatment. Divers tear off chunks of coral to collect stunned fish, causing physical harm to coral reefs. Despite the damage to reefs and high fish fatality rates, cyanide is thought to be the most cost-effective way to catch popular species like angel fish and trigger fish.
Brazil is a major country in the marine ornamental trade, utilising native species for both international and domestic markets. Only a few studies have looked at the wild species used by the Brazilian marine aquarium business, and the majority of them have only looked at fish. In the Brazilian marine aquarium trade, a diverse range of native species was discovered, including not only fish but also crustaceans, seaweeds, reefs and macrophytes.
The Brazil market dominated the LAMEA Reef Aquarium Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $181.2 million by 2027. The Argentina market would exhibit a CAGR of 13.4% during (2021 - 2027). Additionally, The UAE market is poised to grow a CAGR of 12.5% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Reef Aquarium Market is Predict to reach $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).
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