The global ornamental fish market size is predicted to reach over USD 13 billion by 2028. At a global level, the growing interest of millennials in colourful decorative fishes for aquariums as a component of the luxury lifestyle is projected to remain a major driver in the industry's growth. Moreover, many scientific studies have indicated that the usage of ornamental fish in domestic aquariums is predicted to give psychological benefits to millennials in terms of decreasing stress and delivering a positive experience after a daily demanding schedule.
Consumers have been shown to be more attracted to purchase these species due to their appealing qualities as well as other attributes. People who love to watch ornamental aqua species glide serenely across the water are said to have a peaceful and relaxing impact. In addition, aquariums have become a popular addition to house décor. In the next years, rising interest in maintaining beautiful fishes, combined with the introduction of various sorts of exotic species with attractive colours, will increase demand for these ornamental fishes.
Ornamental Fish Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 13 billion|
|Growth Rate||CAGR of 9% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East & Africa|
|Key Players Profiled||Aqua Nautic Specialist (ANS), AlgaeBarn LLC, Florida Tropical Freshwater Fish, BioAquatix, Aqua Leisure, Imperial Tropical Freshwaters, Captive Bred, Oasis Fish Farm, Sagar Fish Aquarium, and Shanghai Wanjin Ornamental Fish Farm.|
Key Segments of the Global Ornamental Fish Market
Type Overview, 2019-2028 (USD Billion)
- Freshwater fish
- Marine fish
Application Overview, 2019-2028 (USD Billion)
Regional Overview, 2019-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global ornamental fish market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global ornamental fish market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the ornamental fish industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on type, application, and end user. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global ornamental fish market. The report will benefit Every stakeholder involved in the ornamental fish market.
- Managers within the ornamental fish industry looking to publish recent and forecasted statistics about the global ornamental fish market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global ornamental fish market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Initially, ornamental fish keeping was practiced in developed countries but it is also gaining traction in developing countries as they have two third share of the total export value. The factor behind the expansion of ornamental fish market size is growing interest for aquarium fishes. This has expanded the trade activity of this particular market in more than 125 countries. With the growing popularity of household aquariums, the graph for global ornamental fish belonging to public aquaria sector is less than 1%.
The import market is boosted in emerging developing countries of tropical and sub-tropical regions as most of the ornamental fish is sourced from there. The practice of international trade in ornamental fish consequently became the reason for employment opportunities to thousands of rural people in developing countries. The other contributing factors that propel the market growth includes advancements in transport, breeding, and aquarium technology. However, supply issues can also be related to mortality caused by poor handling, destructive fishing methods, and quarantine procedures, and other manmade factors like over-exploitation of a particular population of a species may deter the global ornamental fish market.
Based on the type segment, the market is bifurcated into freshwater fish and marine fish. In 2020, freshwater fish segment accumulated the maximum market share and it is likely to continue its dominance throughout the forecast years. Variety of kinds coupled with low maintainence is expected to increase its market concentration in coming years. Furthermore, because of the convenience and distinctive types, new pet owners choose to maintain tropical freshwater ornamental fish. Marine fish species demand special treatment, but they have an appealing appearance that will expand the market in the next years.
Based on the application, the market is segmented into commercial and residential application. Residential application dominated the ornamental fish industry in 2020. Many people in industrialised nations, such as the United States, the United Kingdom, and Germany, choose to have pets at home. People are buying ornamental aqua species as a result of restrictions on keeping dogs and cats in small dwellings. Furthermore, some health experts suggest that watching swimming fish for a few minutes each day can considerably lower stress levels. People are adopting these decorative goods in their homes as a result of rising job pressure and a demanding daily existence.
the European Union is considered the largest ornamental fish market. While the single largest importing country for ornamental fish across the globe is the United States. In 1990’s, with the research studies, it was concluded that 8-13% households had aquaria in the regions which majorly include the USA, Japan and Europe; with ornamental fish keeping as the second most interesting hobby after photography.
The major players of the global ornamental fish market are Aqua Nautic Specialist (ANS), AlgaeBarn LLC, Florida Tropical Freshwater Fish, BioAquatix, Aqua Leisure, Imperial Tropical Freshwaters, Captive Bred, Oasis Fish Farm, Sagar Fish Aquarium, and Shanghai Wanjin Ornamental Fish Farm.