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Reef Aquarium Market Report 2023-2032: Growth Analysis, Industry Trends And Forecast | Jebao, API, Aqua Design Amano Co., Ltd., EHEIM GmbH & Co. KG, AZOO
Reef Aquarium Market
The Business Research Company's Reef Aquarium Global Market Report 2023 identifies rising awareness of the health benefits of having aquariums as the major driver for the Reef Aquarium market's growth in the forecast period. There are many benefits associated with keeping a home aquarium, such as a reduction in stress, an improvement in sleep quality, and better heart health. Reef aquariums reduce pain and anxiety and help to improve concentration and creativity.
The global reef aquarium market size grew from $4.36 billion in 2022 to $4.8 billion in 2023 at a compound annual growth rate (CAGR) of 10.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The reef aquarium market size is expected to grow to $7.29 billion in 2027 at a CAGR of 11.0%.
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Major competitors in the Reef Aquarium market are Jebao, API, Aqua Design Amano Co., Ltd., EHEIM GmbH & Co. KG, AZOO.
A key trend in the Reef Aquarium market includes new product development. This trend is positively impacting the market. For instance, in September 2021, Orphek, a Canadian company engaged in providing a range of LED aquarium lighting solutions, launched the new AtlantikiCon reef aquarium LED lighting for coral growth and colour pop. This is developed with friendly technology that is easy to use and is smartphone compactible. Furthermore, the new Orphek App works with both Android and iOS, with voice control, iCloud support, and other such features.
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The Reef Aquarium market is segmented -
1. By Component Type: Display Tank, Filtration, Lighting, Heating And Cooling, Water Chemistry.
2. By Product: Natural, Artificial
3. By End-Use: Household, Commercial, Zoo And Oceanarium
4. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the Reef Aquarium market.
The Business Research Company's "Global Reef Aquarium Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Reef Aquarium Market Include:
1. Executive Summary
2. Reef Aquarium Market Characteristics
3. Reef Aquarium Market Trends And Strategies
4. Reef Aquarium Market - Macro Economic Scenario
5. Reef Aquarium Market Size And Growth
……
26. Africa Reef Aquarium Market
27. Reef Aquarium Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Reef Aquarium Market
29. Reef Aquarium Market Future Outlook and Potential Analysis
30. Appendix
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