According to the latest market research study released by Technavio, the global aquarium accessories market is expected to grow at a CAGR of close to 5% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global aquarium accessories market based on product type:
Global aquarium accessories market share by product type 2015
|
Decorative Items |
46.51% |
|
Filtration Items |
24.81% |
|
Temperature Control Items |
16.28% |
|
Other aquarium accessories |
12.40% |
Source: Technavio
The top three revenue contributing product segments are discussed below:
Global decorative items market
The global aquarium accessories market by decorative items segment was valued at more than $1 billion in 2015 and will grow at a CAGR of almost 5% by 2020. The growing demand for various themes among hobbyists who install a variety of plants, ornaments, backgrounds, substrates, and related decorative items in their tanks will lead to the growth of this market segment. Some of the decorative items available in the market include decorative marbles, rocks, ornaments, coral ornaments, wood, backgrounds, plastic plants, substrates (sand and gravel), and tank dividers. These items are specifically designed for fish tanks and do not deteriorate when submerged in water for long periods. The use of artificial plants which is available in various shapes, sizes, and color and do not require any special substrate, supplements, lighting, or pruning and glow in the dark decorative items made of non-toxic materials will lead to the growth of this market segment over the period of next four years.
“The increasing demand for decorative items are mainly driven by hobbyists who are creating their aquariums based on different themes. Aquarium service providers offer services to help hobbyists to maintain their tanks with scheduled clean-ups. The tanks must be regularly cleaned to remove algae which increases the concentration of ammonia in the aquarium tank,” says Arushi Thakur, a lead analyst at Technavio for research on pet supplies.
Global filtration systems market
The global aquarium accessories market by filtration systems segment was valued at around $794 million in 2015 and will grow at a CAGR of about 5% by 2020. The filtration systems in very important for maintaining a clean and healthy environment for fish and the different types of systems available in the market include mechanical filtration systems, biological filtration systems, and chemical filtration systems. The different types of filters used in the system are box filters, under gravel filters, sponge filters, power filters, wet-dry filters, and canister filters. Mechanical filtration systems are used only remove debris and particles present in the tank using foam or some other type of spongy substance. Biological filtration systems help maintain the nitrogen cycle in the tank, and chemical filtration systems have activated carbon to trap dissolved wastes, including ammonia, present in the water and to deodorize it. The use of energy efficient pumps in filtration systems will help in the development of this market segment.
Global temperature control systems
The global aquarium accessories market by temperature control systems segment was valued at over $520 million in 2015 and will grow at a CAGR of more than 4% by 2020. Temperature control systems heating and cooling systems that are essential equipment for freshwater and saltwater aquariums. The different types of systems available in the market are immersible heater, submersible heater, and filter aquarium heater. These systems are designed to have adjustable temperature settings, allowing to control temperatures as per the external temperature and the fish species and some of these liquid-crystal displays that monitors water temperatures on a real time basis. These devices change their display color in case the water temperature varies from the pre-set temperature and also displays a flashing light if there is a drastic change in water temperature. The development of dual temperature sensors for accurate and real-time water temperature readings will lead to the growth of this market segment.
The top leading vendors operating in the global aquarium accessories market are:
- Guangdong Boyu Group
- Penn-Plax
- Hagen
- Qian Hu
- Spectrum Brands
Other prominent vendors in the market include API, Aqueon, Aquaria, Arcadia, AZOO, Blue Ribbon, EHEIM, Hailea, Interpet, Jebao, Jebo, Tropical Marine Centre, United Pet Group, and ZooMed.
A more detailed analysis is available in the Technavio report titled, ‘Global Aquarium Accessories Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Sports Fishing Equipment Market 2016-2020
- Global Aquaculture Market 2016-2020
- Global Pet Care Market 2016-2020
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