Global Aquarium Accessories Market 2016-2020
Published: Sep 2016 | Pages: 67 | SKU: IRTNTR10505 |
Overview of the global aquarium accessories market
Technavio’s market research analyst predicts the global aquarium accessories market to grow at a CAGR of almost 5% over the forecast period. Fish keeping has become one of the most popular hobbies among millions of enthusiasts across the globe, and most of the fish species kept in aquariums are freshwater species. The surging demand for ornamental fish among hobbyists is one of the major driving forces contributing to the sales of aquarium accessories. Hobbyists are increasingly seeking products such as aeration equipment, substrate, tanks, ornaments, and fish food. The growing interest of individuals in keeping aquarium fish has resulted in the establishment of new stores that sell aquarium-related products and services such as installations, maintenance, and cleaning. The aquarium stores are also employing skilled and knowledgeable staff to assist consumers in maintaining their aquariums regularly at their residence.
The aquarium industry is witnessing the growing preference for technology-integrated products among aquarists and hobbyists. As a result, most manufacturers are introducing equipment for recreating aquariums that are small, smart, and more efficient to facilitate the easy maintenance and cleaning of the aquarium. Aquariums are also being designed to be compact to house corals and delicate reef vertebrates. Furthermore, some vendors are also coming up with energy efficient aquarium accessories and new programmable smart devices that offer maintenance-free performance for aquarists and hobbyists. These devices are more reliable and require less monitoring. Smart devices such as aquarium control systems help hobbyist to manage pH, conductivity, dissolved oxygen, oxidation-reduction potential parameters, and lighting simultaneously.
Competitive landscape and key vendors
The global aquarium accessories market has several large vendors that manufacture several accessories. According to the aquarium industry statistics report, the market is extremely competitive as the players compete on the basis of product differentiation, portfolios, and pricing. The leading vendors have a vast geographical presence with production facilities located across the globe. There are also a few regional vendors in the market. The presence of various private labels offering products at affordable prices has come as a serious threat to the well-known brands in the market.
Leading vendors in the market are -
- Guangdong Boyu Group
- Hagen
- Penn-Plax
- Qian Hu
- Spectrum Brands
Other prominent vendors in the aquarium accessories market include API, Aqueon, Aquaria, Arcadia, AZOO, Blue Ribbon, EHEIM, Hailea, Interpet, Jebao, Jebo, Tropical Marine Centre, United Pet Group, and ZooMed.
Segmentation by product type and analysis of the aquarium accessories market
- Decorative items
- Filtration systems
- Temperature control systems
In 2015, the decorative items segment accounted for the largest share of the aquarium accessories market and will continue its market dominance throughout the forecast period. Much of this segment’s growth is primarily driven by the increasing popularity of aquascapes among hobbyists. Hobbyists are re-creating aquariums based on diverse themes and are incorporating a variety of plants, ornaments, backgrounds, substrates, and related decorative items in their tanks. The rising installations of aquariums for interior decoration and the therapeutic benefits associated with them will boost the growth of this segment over the next four years.
Geographical segmentation and analysis of the aquarium accessories market
- APAC
- Europe
- North America
- ROW
The penetration of aquarium accessories was the highest in the North American region during 2015. In this region, countries like the US and Canada lead the market in terms of pet fish ownership. As per a market analysis, more than 11 million reef fish are taken from the world’s reefs each year to meet the high demand of 700,000 aquarium hobbyists in the US. Moreover, there are several fish clubs and societies in the region that are spreading the fish keeping hobby among consumers and are fostering awareness regarding these endangered species.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global aquarium accessories market?
- What are the key market trends impacting the growth of the global aquarium accessories market?
- What are the challenges to market growth?
- Who are the key vendors in the global aquarium accessories market?
- What are the market opportunities and threats faced by the vendors in the global aquarium accessories market?
- Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
- What are the key outcomes of the five forces analysis of the global aquarium accessories market?
Technavio also offers customization on reports based on specific client requirement.
Related reports:
- Global Sports Fishing Equipment Market 2016-2020
- Global Aquaculture Market 2016-2020
- Aquaculture Market in China 2016-2020
- Global Pet Care Market 2016-2020
Table of Contents
PART 01: Executive summary
- Highlights
PART 02: Scope of the report
- Market overview
- Top-vendor offerings
PART 03: Market research methodology
- Research methodology
- Economic indicators
PART 04: Introduction
- Key market highlights
PART 05: Market landscape
- Market overview
- Market size and forecast
- Five forces analysis
PART 06: Market segmentation by product type
- Market segmentation by product type 2015-2020
- Decorative items
- Filtration systems
- Temperature control systems
- Other aquarium accessories
PART 07: Geographical segmentation
- Market segmentation by geography 2015-2020
- CAGR comparison of aquarium accessories market among geographies
- Aquarium accessories market in APAC
- Aquarium accessories market in North America
- Aquarium accessories market in Europe
- Aquarium accessories market in ROW
PART 08: Key leading countries
- US
- China
- France
PART 09: Market drivers
- Growth of aquarium service providers
- Demand for ornamental fish among consumers
- Growing awareness regarding benefits of keeping aquariums
PART 10: Impact of drivers
PART 11: Market challenges
- Unsafe aspects of filtration and heating equipment
- Concern regarding ammonia spikes in aquariums
- Low margins on aquarium accessories
PART 12: Impact of drivers and challenges
PART 13: Market trends
- Growing preference for technology-integrated products
- Rise of aquascaping
- Innovations in decor items
PART 14: Vendor landscape
- Competitor landscape
- Major market competitors
- Competitor benchmarking for key vendors
PART 15: Key vendor analysis
- Guangdong Boyu Group
- Hagen
- Penn-Plax
- Qian Hu
- Spectrum Brands
- Other prominent vendors
PART 16: Appendix
- List of abbreviations
PART 17: Explore Technavio
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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