Global Ornamental Fish Market - 2023-2030

Global Ornamental Fish Market - 2023-2030

The Global Ornamental Fish Market reached US$ 5.5 billion in 2022 and is expected to reach US$ 9.8 billion by 2030 and is expected to grow with a CAGR of 7.5% during the forecast period 2023-2030. The rise of aquascaping, the art of designing underwater landscapes in aquariums, has become a prominent trend in the ornamental fish market. Examples of intricate aquascapes, featuring lush plant growth and carefully selected fish species, can be seen on popular social media platforms.

The global ornamental fish market has been flourishing, driven by factors such as the growing popularity of home aquariums, increasing disposable incomes, and the rise of the pet industry. With a wide variety of species available, including freshwater and marine fish, the market caters to diverse consumer preferences. The market has witnessed a shift towards sustainable and ethical practices, with a focus on captive-bred and tank-raised specimens.

The trend of nano fish, which are small-sized ornamental fish, is gaining popularity in the market. These tiny fish, such as micro rasboras and dwarf shrimp, are sought after due to their compatibility with small aquariums and ease of maintenance. The demand for nano fish has surged, with a 30% increase in sales over the past year. This trend caters to urban dwellers and those with limited space, offering them the opportunity to enjoy the beauty of ornamental fish in compact setups

Market Dynamics

Aquaculture Expansion and Sustainable Practices Fueling the Market Growth

Aquaculture plays a crucial role in driving the growth of the ornamental fish market, representing approximately 70% of fish production. The industry has experienced a substantial expansion, with an estimated annual growth rate of around 6%. Aquaculture enables a reliable supply of diverse ornamental fish species, meeting the increasing demand from hobbyists and pet owners.

To ensure sustainable growth, aquaculture operations are adopting advanced filtration systems, efficient water management techniques, and responsible fish breeding practices. These initiatives promote environmental stewardship, reduce the pressure on wild fish populations, and maintain the overall health and quality of ornamental fish.

Growing Popularity of Fishkeeping as a Hobby driving the Growth of the Market

The ornamental fish market trend is being driven by fishkeeping has gained immense popularity as a recreational hobby, contributing to the growing demand for ornamental fish. It is estimated that approximately 15% of households worldwide engage in fishkeeping activities. The therapeutic benefits of observing fish, the beauty of aquariums, and the opportunity for creative expression have captivated enthusiasts. The availability of various tank sizes, styles, and accessories caters to the preferences of different individuals.

Furthermore, the online fishkeeping community, including forums and social media platforms, has fostered knowledge sharing, networking, and inspiration for hobbyists. This growing fishkeeping enthusiasm creates a flourishing market for ornamental fish breeders, retailers, and suppliers.

Lack of Awareness and Education Hampers Responsible Fishkeeping Practices in the Ornamental Fish Market

One significant restraint faced by the ornamental fish market is the lack of awareness and education regarding responsible fishkeeping practices. Many hobbyists and consumers, especially those interested in tropical fish, freshwater fish, saltwater fish, and exotic fish, are unaware of the proper care requirements, tank size limitations, and compatibility of different species. This leads to overcrowded tanks, improper water quality management, and increased stress and mortality rates among ornamental fish.

The lack of knowledge about fish behavior, feeding habits, and disease prevention further exacerbates these issues. To address this restraint, there is a pressing need for increased educational initiatives, outreach programs, and access to reliable information about responsible fishkeeping. By promoting awareness and providing resources, the industry can empower hobbyists to create optimal living conditions for their fish and foster a sustainable and thriving ornamental fish market.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global ornamental fish market has been segmented by product type, application, distribution channel, and region.

Diverse Distribution Channels Drive Ornamental Fish Market Expansion

The distribution channels play a crucial role in the ornamental fish market, ensuring the efficient supply of Aquarium fish from fish farms to end consumers. The primary distribution channels include wholesale suppliers, retailers, online platforms, and pet stores. Wholesale suppliers are accounting for approximately 50% of the market distribution. Retailers, including specialized aquarium shops and garden centers, contribute to around 30% of the distribution share.

Online platforms have gained prominence in recent years, capturing approximately 15% of the market distribution, offering convenience and a wide variety of fish species to customers. Pet stores, both large chains and independent establishments, account for the remaining 5% of the distribution share. The distribution channels play a vital role in connecting fish farms with consumers, ensuring a steady supply of high-quality Aquarium fish for fish enthusiasts and hobbyists.

Geographical Analysis

Asia Pacific Emerges as a Growing Force in the Ornamental Fish Market, Paving the Way for Expanding Market Share and Size

By region, the global ornamental fish market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east, and Africa.

The Asia Pacific region has become a flourishing hub for the ornamental fish market, with an approximate annual growth rate of around 8%. With a vast consumer base, the region accounts for nearly 40% of the global ornamental fish market share. Countries such as China and Japan lead the market, representing over 50% of the regional demand.

The popularity of ornamental fish in the Asia Pacific can be attributed to the growing middle-class population, which has witnessed a rise in disposable incomes, resulting in increased spending on hobbies and leisure activities. Furthermore, the availability of a diverse range of species, including tropical and exotic varieties, contributes to the expansion of the ornamental fish market size. As the demand continues to rise, opportunities abound for breeders, exporters, and suppliers to cater to the thriving Asia Pacific market.

Competitive Landscape

The major global players in the market include Aqua-Nautic Specialist PTE LTD, AlagaeBarn LLC, Oasis Fish Farm, BioAquatix, Sagar Fish Aquarium, Sunbeam Aquarium Pte Ltd, Imperial Tropicals, Inc., Tropical Fish International Pte Ltd, LiveAquaria, and Liuji.

Why Purchase the Report?
• To visualize the global ornamental fish market segmentation based on product type, application, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of the ornamental fish market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global ornamental fish market report would provide approximately 61 tables, 57 figures, and 200 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies