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Aquarium Accessories Market – The Development Strategies Adopted By Major Key Players And To U

, 22 November 2018 -- Aquarium Accessories Market – The Development Strategies Adopted By Major Key Players And To Understand The Competitive Scenario

The global aquarium accessories market is gaining importance among the population over the years due to the rising fascination towards the underwater world and its effect on the atmosphere in the homes and other residential and commercial areas. For the younger population aquarium has become a valuable encounter with the nature and also helps them to gain knowledge regarding the underwater species. Fish keeping has become a popular hobby among the population across the globe in recent years and thus this is triggering the growth rate of the global aquarium accessories market. A well-planted aquarium with proper maintenance is considered as one of the most beautiful living ornaments kept at every households, hotels, restaurants etc.

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Regular maintenance with proper care is essentially important to keep an aquarium healthy and look good. Selecting the suitable type of fish and also ensuring optimum numbers that do not exceed the total capacity of the aquarium is considered as one of the major factors to maintain an aquarium. Fishes and other underwater species are normally sold as juveniles and thus the aquarium needs enough space for them to grow in a proper way. It has been recorded that 1.5 to 2 million people across the globe keep aquarium and among which six hundred thousand households owns an aquarium to beautify their homes. Most of the aquariums used among the consumers are made up of glass panes due to their cost effectiveness, however, acrylic aquariums are gaining importance in recent years.

The global aquarium accessories market is mainly driven by the rise in demand for the ornamental fishes among the population coupled with the aesthetic benefits associated with keeping an aquarium at home. Fish keeping in the aquariums and decorating it with ornamental plants and other invertebrate species are gaining importance among the consumers as it provides them therapeutic benefits and also helps to reduce stress among the patients in the hospitals. However, the presence of low margins in the aquarium accessories products is restraining the global aquarium accessories market.

The global aquarium accessories market has been segmented on the basis of different product types and by distribution channel. By product type, the global aquarium accessories market has been segmented into filtration items, lights and hoods, decorative items, and temperature control systems and others which include plant life, roots, rocks and stones and miscellaneous cleaning tools. The market has been further segmented on the basis of the distribution channel namely online distribution channel and offline distribution channel. The growing interest among the consumers regarding keeping aquarium fishes has resulted in the establishment of new offline stores that are engaged in selling aquarium accessories products.

In the region wise study, the global aquarium accessories market has been segmented into North America, Europe, Asia-Pacific, Middle East, Africa and Latin America.

North America which includes U.S., Canada is anticipated to capture a significant part of the market share in the aquarium accessories market during the forecast period. It was recorded that a significant number of marine fishes and other under water invertebrates were imported in the U.S. in order to meet the rising demands of the population. Europe which includes Germany, France, U.K. and Italy among others also held a significant market share due to the rising trends in terms of preference for decorative products in the aquariums. Additionally, Asia Pacific region which includes China, India, Japan is also anticipated to capture a significant growth rate during the forecast period due to rise in aquascaping. Aquascaping is gaining importance in recent years as it displays unique styles of decoration inside the aquarium.

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Global key participants operating in the aquarium accessories market include Guangdong Boyu Group, Penn Plax, Qian Hu, Spectrum Brands, API, Aquaria, Blue Ribbon EHEIM, Hailea, AZOO, Interpet, Jebao, Tropical Marine Centre, United Pet Group, ZooMed, Hagen, Arcadia, Aqueon, among others.

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Submitted by K Singha on Thursday, 22 November 2018 at 6:30 PM
Category: Science & Research
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