U.S. Ornamental Fish Market Size, Share & Trends Analysis Report By Product (Tropical Freshwater, Temperate, Marine), By Application (Household, Commercial), And Segment Forecasts, 2023 - 2030

U.S. Ornamental Fish Market Size, Share & Trends Analysis Report By Product (Tropical Freshwater, Temperate, Marine), By Application (Household, Commercial), And Segment Forecasts, 2023 - 2030

U.S. Ornamental Fish Market Growth & Trends

The U.S. ornamental fish market is expected to reach USD 2.83 billion by 2030 , registering CAGR of 9.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. Growing millennial interest in colorful fish, the trend of keeping aquarium as part of a luxury lifestyle, new developments in aquariums featuring advanced designs, rise in aqua scaping for aesthetic reasons are major factors boosting the U.S. ornamental fish market.

Recent technological breakthroughs have provided ornamental fish enthusiasts with something they have never had before - variety in species and easy to maintain aquarium ecosystems. Species such as the goldfish, tetras, barbs and catfish are best for beginners as they are relatively peaceful and not very demanding. Moreover, due to the advent of self-cleaning aquariums, even novices have taken an interest in ornamental fish.

The psychological benefits associated with keeping a fish and human interaction with it also a factor ramping the demand for ornamental fish. Various studies and research have found that live fish viewing enhances feelings of happiness, relaxation, and anxiety. The attachment theory applies to human-animal relationships as well, with findings suggesting that both humans and animals can serve as attachment figures and provide feelings of comfort and safety during times of uncertainty or stress.

Since more people are moving into apartments and smaller residences in cities, there is less room for larger animals to live there. Because they are peaceful animals and take up less space in homes, people are increasingly choosing to keep fish as pets. For the ornamental fish industry in the residential sector, this trend is generating a growth potential. Modern trends such as the nano aquariums and planted aquariums will further boost the ornamental fish industry in U.S.

According to a blog post by The Fish Site in December 2020, more than 40 nations take part in the supply of aquarium stock to hobbyists, and it is estimated that 50 million aquatic animals, including ornamental fish, corals, and invertebrates, are sold to 2 million hobbyists worldwide each year. Since 15 million American households have aquariums, 2.5 million of which are home to marine species, the U.S. is the primary market for these products. Marine ornamental fish species make up about 20% of the total trade.

U.S. Ornamental Fish Market Report Highlights

• The tropical freshwater segment held the largest share in 2022, owing to its easy to maintain routine and the variety it offers. The freshwater fish suppliers in U.S. offer high quality tropical freshwater fish. Some popular tropical freshwater varieties are Guppy, Molly, Zebra Danio, Betta, Catfish, and Swordtail.
• Household application segment dominated the market in 2022, around 67% of the U.S. households, or about 85 million families, own a pet, with 13.1% of those owning a fish as a pet (APPA). Advancements in smart technologies are also contributing to the growing number of aquarium hobbyists, which as a result is propelling the segment.
• The consumer trends driving the ornamental fish business are largely comparable to those guiding the pet care sector as a whole. Consumers all over the world are adopting more and more different pets. When it comes to pet adoption and pet care goods, the millennial demographic has a higher spending propensity than other age groups.