Aquarium Market Size, Competitive Landscape, And Global Trends

 According to Fortune Business Insights, the global aquarium market was valued at USD 3.60 billion in 2023 and is projected to rise from USD 3.79 billion in 2024 to USD 6.21 billion by 2032, registering a CAGR of 6.36% during the forecast period. North America led the global market, accounting for a 38.33% share in 2023.

In particular, the U.S. aquarium market is poised for significant growth, with estimates suggesting it will reach USD 1.91 billion by 2032. Key factors driving this growth include the increasing popularity of home aquariums, technological advancements in aquatic equipment, and a rising fascination with marine life among consumers.

Aquariums enclosures of various sizes with at least one transparent side are designed to house aquatic creatures such as fish, invertebrates, and amphibians. The growing availability of these setups in pet stores across both developed and emerging markets is further contributing to the expansion of the global aquarium industry.

Drivers and Restraints:

Increasing Popularity of Ornamental Fish to Fuel Market Growth

The growing popularity of ornamental fish for aesthetic and decorative purposes is a major factor propelling the global aquarium market. These visually appealing fish, known for their vibrant colors and unique features, are commonly kept in aquariums to enhance the ambiance of homes, offices, restaurants, hotels, and other spaces. The rising adoption of species such as goldfish, neon tetras, and fantails in both developed and developing countries is fueling product demand. Additionally, increasing awareness and interest in ornamental fish have led to a surge in their import across various nations, further supporting market expansion.

Despite these positive trends, certain government restrictions on the trade and manufacturing of ornamental fish and aquarium equipment have negatively impacted product availability, posing a challenge to market growth.

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LIST OF KEY COMPANIES PROFILED IN THE REPORT

EHEIM GmbH & Co. KG. (Germany)
Aqua Design Amano Co., Ltd. (Japan)
Tropical Marine Centre (TMC) (U.K.)
Sensen Group Co., Ltd. (China)
TSUNAMI AQUARIUMS (U.S.)
Spectrum Brands, Inc. (U.S.)
UWEL Aquarium AG & Co. KG. (Germany)
Guangzhou Akaida Aquarium Co., Ltd. (China)
Aquarium Design India (India)
JUWEL Aquarium AG & Co. KG. (Germany)
Segmentation:

Glass Segment Dominated Market Due to its Affordability, Easy Availability, and Durability

Based on material type, the market is segmented into glass, acrylic, and others. The glass segment held the dominating position in the market in 2023. Glass's properties, such as scratch resistance, clarity, affordability, easy availability, and durability, have resulted in its growing adoption among individuals, thereby contributing to its growth.

Residential Application Led Market Owing to Increasing Investments By Individuals in Home Interiors

Based on application, the market is divided into residential and commercial. The residential segment led the global market owing to increasing investments by individuals in home interiors to make them more fashionable and lucrative, resulting in increased product adoption.

Retail Outlets/Offline Segment Dominates Market Influenced By Convenience of Physically Purchasing and Verifying Product and its Quality

Based on distribution channel, the market is bifurcated into retail outlets/offline and e-commerce/online. The retail outlets/offline segment accounts for the largest aquarium market share. The growth of this segment is influenced by the convenience of physically purchasing and verifying the product and its quality.

With respect to region, the market covers North America, South America, Europe, the Middle East & Africa, and Asia Pacific.

Report Coverage:

The report has conducted a detailed study of the market and highlighted several critical areas, such as leading applications, material types, distribution channels, and key market players. It has also focused on the latest market trends and key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.

Regional Insights:

North America Dominates Market Owing to U.S. Being Major Consumer of Ornamental Fish

The North American region holds the dominant position in the global market. This dominance can be attributed to the country of the U.S. being the major consumer of ornamental fish, which leads to increased product demand.

Asia Pacific is projected to witness the highest CAGR during the forecast period. This growth is due to the increasing number of commercial spaces, such as restaurants, hotels, offices, and others, in nations such as China, Singapore, Australia, and India.

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Competitive Landscape:

Major Players to Focus on Technological Innovations and Market Expansions to Strengthen its Market Presence

The global market is characterized by high competition. Some of the major players in the market are EHEIM GmbH & Co. KG., Aqua Design Amano Co., Ltd., Tropical Marine Centre (TMC), and others. These players are concentrating on technological innovations, forming partnerships, and market expansions to strengthen their market presence. They are also increasing their focus on marketing strategies to increase their brand awareness.

Notable Industry Development:

March 2024: Interpet, a manufacturer of fish tanks & related products, announced the launch of the Aqua Smart Bluetooth Aquarium LED range. This product offers smart features such as adjustable LED output and intensity, Bluetooth connectivity, and pre-set lighting programs.
January 2024: Red Sea, which manufactures fish tanks and related accessories, launched the Max Nano G2 XL. The newly launched product has a larger volume capacity and a built-in gravity top-off device.