According to the research report titled ‘Global Reef Aquarium Market Size study, By Product (Component, Natural, Artificial), By End Use (Household, Zoo & Oceanarium, Commercial), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global reef aquarium market was worth USD 4.89 billion in 2020 and is estimated to expand at 10.7% CAGR over 2021-2027, to reach a valuation of USD 10 billion by the end of the forecast period.
 

Factors such as increasing pet adoption and evolving lifestyle are primarily driving global reef aquarium market growth. As per a 2021-22 National Pet Owners Survey conducted by American Pet Products Association (APPA), 70% U.S. households, or around 90.5 million families, own a pet. These figures show  a massive jump from 56% U.S. household pet ownership in 1988, and 67% in 2019.
 

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Furthermore, demand for colorful fish aquariums and rising disposable income levels are also contributing to market development. Increasing technological advancements and rising awareness towards pet care are likely to foster new opportunities in this domain.
 

For the unversed, reef aquariums are marine aquariums that display fishes, marine invertebrates, and other live corals. These aquariums are extensively used in houses, zoos, and oceanariums.
 

Despite the positive outlook, complex management procedure is expected to hamper industry remuneration scope over the forecast period.
 

Based on product type, global reef aquarium market is arrayed into natural, component, and artificial. By end user scope, the industry classification comprises zoo & oceanarium, household, and commercial segments.
 

Considering geographical scope, the research literature  spans across North America, Asia Pacific, Europe, and Latin America. Among these, Europe currently holds a major share in the industry, and is expected to follow similar trends through 2021-2027. This can be credited to rising pet adoption, surging demand for aquariums with corals and colorful fishes, and prevalence of luxurious lifestyles.
 

Meanwhile, Asia-Pacific market is on track to record remarkable gains over the analysis period, driven by factors such as surging demand for exotic aquariums having exotic invertebrates, and rising disposable income throughout the region.
 

Prominent players in worldwide reef aquarium industry are Interpret Ltd., Arcadia Aquatic (Monkfield Nutrition Ltd.), Tropical Marine Centre Ltd., OASE GmbH, TaiKong Corp., Aqua Design Amano Co. Ltd., EHEIM GmbH & Co. KG., API Fish Care (Mars Inc.), and Jebao Co. Ltd.