Bio Filter Market to Reach a Valuation of ~US$ 3 Bn by 2027Posted by Monali Raghuwanshi on November 22nd, 2019 Bio Filter Market: Introduction Transparency Market Research delivers key insights on the global bio filter market. In terms of revenue, the global bio filter market is estimated to expand at a CAGR of ~7%, based on value, during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in the global bio filter market report. In this market report, TMR predicts that significant growth in fish consumption across the globe is anticipated to boost the bio filter market. Boost in the consumption of fish and the growing popularity of aquarium fish are expected to encourage fish production, thereby resulting in the growth of the overall bio filter market. Countries in Asia Pacific and Africa are major fish producers, and are expected to experience significant growth in the coming years. In addition, technological developments are improving the features of the product, which influences the product’s efficiency. This is also expected to accelerate the growth of the global bio filter market in the coming years.
However, lack of product knowledge and erratic weather conditions are major obstructions in the bio filter market, and key restraining factors for its growth. Growing water pollution, uneven climatic and rain fall patterns, and the spread of several diseases in fish farms are the major restraining factors that bio filter manufacturers have to deal with. These factors also hamper bio filter companies in terms of cost in the long run, and are anticipated to be key restraining factors for the growth of the bio filter market. The growing preference for aquarium fish and the increasing popularity of household aquariums are boosting the ornamental fish market across the globe. Most ornamental fish are supplied from developing countries across tropical and sub-tropical regions. The increasing demand for ornamental fish is anticipated to create new business opportunities for the global bio filter market in the coming years. The increasing popularity of fisheries and aquaculture across Asian countries, and the emergence of new producer countries near major consumers are anticipated to create lucrative opportunities for bio filter manufacturers in the future. Asian countries such as Singapore and Malaysia are major producers of ornamental fish. Asian countries hold more than half the share of total ornamental fish exports.
According to the report, under the product segment, power filters have a dominant share in the bio filter market, followed by canister filters. The increasing demand for these filters across the residential sector, and also commercial sector such as hotels and hospitals, is boosting the market. The submerged bed filters and box filters segments are also expected to expand at a significant growth rate in the coming years. In terms of filter media, ceramic rings have a major share in the overall bio filter market, owing to product efficiency and product cost. However, the demand for bio balls is anticipated to increase in the near future. The growing demand for aquariums across the globe is pushing the overall bio filter market. In terms of end use, the land-based aquaculture segment holds a substantial position in the overall bio filter market. Increasing commercial fish production due to the growing demand for fish food across the globe has created new opportunities for commercial and retail spaces. This is anticipated to proliferate the demand for bio filters. In addition, growth in the demand for ornamental fish from both, the household and commercial sector, is expected to drive the bio filter market further in the coming years.
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