Aquarium Accessories Market Progresses for Huge Profits During 2017-2025
Posted: Jul 05, 2017
People use aquarium and aquarium accessories to keep fishes, invertebrates, amphibians, aquatic reptiles such as turtles and aquatic plants. Most of the aquariums are made of glass panes, however nowadays acrylic aquaria are a primary competitor for glass. Acrylic are stronger than glasses and also weigh less along with certain amount of temperature insulation.
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Aqua breeding, selling of aquarium fishes and aquarium accessories are becoming a huge business. Fishes should be kept in the type of water which they occupy in nature, due their sensitivity to rapid changes in temperature of the environment in which they are kept. If the fish tank gets too cold, fishes get stressed and get vulnerable to parasite infestations and if the aquarium gets too warm, the dissolved oxygen level drops rapidly and fishes suffocate inside the aquarium. Therefore proper temperature control systems should be installed and hence aquarium accessories play an important role.
North America aquarium accessories is expected to be one of the largest aquarium accessories market due to the high penetration rate in the region in 2016. In terms of pet fish ownership US and Canada aquarium accessories accounted for the largest share. More than 11 million reef fishes are taken from world’s reef annually, to meet the demand of 700,000 aquarium hobbyists in the U.S aquarium accessories market. Moreover, there are increasing number of fish clubs and societies in the region spreading awareness about fish hobbies among consumers and are raising awareness concerning these rare species.
Aquarium Accessories – Market Segmentation
The aquarium accessories market can be further segmented into product types into: Aquarium tanks, Decorative items, Temperature control systems, Filtration systems.
The decorative items segment in aquarium accessories market is expected to account for the largest share during the forecast period, and is primarily driven by the increasing popularity of aquaspaces amongst the hobbyists. Hobbyists are re-creating aquarium accessories based on diverse themes and are incorporating a variety of plants, ornaments, backgrounds, substrates, and related decorative items, in the tanks.
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Aquarium Accessories – Market Dynamics and Restrains
Normally an aquarium consists of filtration systems, artificial lighting along with a heater or chiller depending on the tanks inhabitants. Combined biological and mechanical aquarium filtration systems are common. Fishkeeping is gaining traction among the consumers as they are linked with providing therapeutic benefits and reducing the stress such as solution to Alzheimers disease and has helped to improve the eating habits of patients.
Technological integrated products are driving the market for aquarium accessories. The equipment’s used for recreating aquarium accessories are becoming smaller, smarter and effective which makes it easy to maintain and clean the aquarium. Aquariums are becoming compact and are designed according the house corals and delicate reef vertebrates.
Product innovation in décor items is one of the major reasons surging the demand for aquarium accessories. For instance, underwater lighting using LED bulbs is one of the popular innovative aquarium accessories. These lights are waterproof and can be used as the main lighting bar. Another example is of NUVO aquarium accessories, they are multiple award winning rimless that offers modern style that will complement any décor. All the aquariums are constructed with high end clarity straight edged glasses along with customized filtration systems and environment that is tailored for aquatic plants and marine corals.
Increasing penetration of e-commerce and online sales in aquarium accessories market another major driver driving the aquarium accessories market. Online platforms enable consumers to access various new products 24/7 globally. Another advantage for aquarium accessories that information regarding products is more detailed and also offers consumers insights in the form of consumer reviews etc. This channel also offers significant benefits to small scale manufacturers who might face various entry barriers such as marketing costs etc. when offering their respective products in the general market. Online platforms also help in significantly reducing distribution costs and garnering consumer attention more efficiently in aquarium accessories market.
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Aquarium Accessories Market Players
The Aquarium Accessories Market is fragmented and competitive, with large number of players operating at the regional and local level. Some of the players in the market includes, Guangdong Boyu Group, Spectrum Brands, Qian Hu, Penn-Plax, Hagen, Blue Ribbon, United Pet Group, ZooMed, AZOO, Aquaria.
Swapna work as a Sr. Digital Marketing Consultant with Persistence Market Research, an New York based market Intelligence Company which analyzes various markets and estimate the growth opportunities of the market in the future.