Increasing interest in keeping ornamental species is driving the market growth
The global ornamental fish market size is likely to attain over USD 13 billion by the year 2028. Besides, it is likely to project a CAGR of nearly 9% during the forecast years 2021-2028. The phrase "ornamental fish" refers to fish that are appealing and colourful and have a wide range of features. Ornamental fish are created by cross-breeding several species of fish to create new hues and variations. The worldwide ornamental fish industry has benefited greatly from the growing popularity of aquariums, which has been fueled by improvements in living conditions. In homes, parks, and businesses, ornamental fish are displayed in ponds, pools, or beautiful glass containers. Ornamental fish are imported into over 125 countries across the world, with Singapore being the top exporter.
The global ornamental fish market has different varieties which are difficult to breed and expensive. Angel fish and gold fish are the most sought after ornamental fish globally. The factors that have boosted ornamental fish market especially of angel fish is its lovely appearances and gold fish is native to Eastern Asia. The endemic ornamental species are dominantly of South American origin, but other regions never realized its potential neither are promoted properly. Top brands are the gold fish, guppy, molly, platy, cichlid, tetra, catfish, gourami, loach, and the barbs. Despite being the counting of 30 to 35 species of aquarist’s favorite species, among the Asian origin, only Puntius conchonius and Brachydanio rerio are the most common.
In terms of pet adoption, developed nations such as the United States, Germany, France, and the United Kingdom are market leaders, but China, India, Japan, and Brazil have been on the forefront of growth in this category. Pet adoption in U.S. households was more than 65 percent in 2020, according to "The American Pet Products Association." Because of the increasing rate of pet adoption in the United States, the market for ornamental fish as pets is projected to grow. Governments in different nations, such as China and India, have been boosting domestic expenditure on tourism infrastructure improvements.
The report also emphasizes several distinctiveness of the global ornamental fish industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the ornamental fish industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
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.
Key Segments of the Global Ornamental Fish Market
Type Overview, 2019-2028 (USD Million)
- Freshwater fish
- Marine fish
Application Overview, 2019-2028 (USD Million)
- Commercial application
- Residential application
Regional Overview, 2019-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America