North America Reef Aquarium Market Size & Outlook
North America reef aquarium market, 2016-2028 (US$M)
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North America reef aquarium market highlights
- The North America reef aquarium market generated a revenue of USD 1,462.8 million in 2020.
- The market is expected to grow at a CAGR of 10.2% from 2021 to 2028.
- In terms of segment, component was the largest revenue generating product in 2020.
- Natural is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2021 to 2028.
North America data book summary
| Market revenue in 2020 | USD 1,462.8 million |
| Market revenue in 2028 | USD 3,181.6 million |
| Growth rate | 10.2% (CAGR from 2020 to 2028) |
| Largest segment | Component |
| Fastest growing segment | Natural |
| Historical data covered | 2016 - 2019 |
| Base year for estimation | 2020 |
| Forecast period covered | 2021 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Natural, Artificial, Component |
| Key market players worldwide | EHEIM, Acadia Healthcare Co Inc, API FishCare, Oase, Tropical marine Center, Interpet |
Other key industry trends
- In terms of revenue, North America region accounted for 29.9% of the global reef aquarium market in 2020.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2028.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 3,304.9 million by 2028.
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Reef Aquarium Market Scope
Reef Aquarium Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
North America reef aquarium market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to reef aquarium market will help companies and investors design strategic landscapes.
Component was the largest segment with a revenue share of 44.52% in 2020. Horizon Databook has segmented the North America reef aquarium market based on natural, artificial, component covering the revenue growth of each sub-segment from 2016 to 2028.
The rising number of pet owners in the region, combined with high disposable incomes, drives the product demand. According to the National Pet Owners Survey 2017-18, 68% of American households own a pet. As per the survey conducted by the American Pet Products Association (APPA), 12.5 million U.S. households keep freshwater fish and 2.5 million keep saltwater fish.
Increasing prevalence of tech-savvy millennial pet owners has led to technological innovations in the industry. According to Packaged Facts, millennials accounted for 27% of all U.S. pet owners in 2019. Thus, a high proportion of the millennial pet parent category is fueling the demand for advanced and smart products in reef aquariums, thereby boosting the market growth.
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Target buyers of North America reef aquarium market databook
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Our clientele includes a mix of reef aquarium market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America reef aquarium market, including forecasts for subscribers. This continent databook contains high-level insights into North America reef aquarium market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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North America reef aquarium market report size, by country, 2016-2028 (US$M)
North America Reef Aquarium Market Share, 2020 & 2028 (US$M)
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