The global ornamental fish market size reached US$ 5.75 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.31 Billion by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028. The rising demand for ornamental fish among households, the development of advanced aquariums, and the introduction of genetic engineering technology represent some of the key factors driving the market.
Ornamental fish refers to marine animals that are kept and raised in aquariums, ponds, and other aquatic enclosures for their aesthetic value. It includes goldfish, guppies, angelfish, tetras, discus, koi, cichlids, rainbow fish, swordtails, Corydoras, plecos, loaches, and killifish. These fish species are selectively bred for their vibrant colors, unique appearances, intricate patterns, and playful and social behaviors. They are widely used for decorative, educational, and therapeutic purposes in households, public aquariums, fountains, water gardens, schools, offices, hotels, restaurants, hospitals, and nursing homes. Ornamental fish aids in creating a calming, peaceful, and soothing environment that promotes relaxation, uplifts mood, improves sleep quality and reduces stress, depression, and anxiety. It also assists in scientific research and provides valuable insight into the behavior, genetics, and diseases associated with marine animals.
Ornamental Fish Market Trends:
The rising demand for ornamental fish among households due to its visual appeal, cost-effectiveness, and low maintenance is one of the key factors driving the market growth. In line with this, the increasing consumer awareness regarding various health benefits of keeping ornamental fish as pets, such as lowering blood pressure, improving sleep, uplifting mood, boosting mental health, and reducing loneliness, stress, anxiety, and depression, is acting as another growth-inducing factor. Furthermore, the widespread adoption of ornamental fish in various hospitality spaces, such as hotels, restaurants, cafes, and spas, to improve the guest experience and create a welcoming, peaceful, and relaxing environment is providing an impetus to the market growth. Additionally, the introduction of genetic engineering technology to create ornamental fish with improved disease resistance, enhanced coloration, modified traits, and glow-in-the-dark capabilities are positively influencing the market growth. Besides this, the recent development of advanced aquariums that are equipped with automated feeding systems and water quality monitors, which aid owners in maintaining a healthy and vibrant environment for ornamental fish, is creating a positive outlook for the market growth. Moreover, the increasing utilization of ornamental fish in educational institutions to raise environmental awareness and teach students about the importance of aquatic ecosystems and the protection of natural habitats is propelling the market growth. Other factors, including rising expenditure capacities of consumers, easy availability of ornamental fish across e-commerce platforms, and the growing demand for exotic fish species, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global ornamental fish market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on product and application.
- Tropical Freshwater
The report has provided a detailed breakup and analysis of the ornamental fish market based on the product. This includes tropical freshwater, temperate, and marine. According to the report, tropical freshwater represented the largest segment.
A detailed breakup and analysis of the ornamental fish market based on the application has also been provided in the report. This includes household and commercial. According to the report, household accounted for the largest market share.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe was the largest market for ornamental fish. Some of the factors driving the Europe ornamental fish market included rising expenditure capacities of consumers, increasing health consciousness, and various technological advancements.
The report has also provided a comprehensive analysis of the competitive landscape in the global ornamental fish market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Aqua-Nautic Specialist Pte Ltd., bioAquatiX, Imperial Tropicals, Qian Hu Corporation Limited, Sanyo Aquarium (Pte) Ltd., Sunbeam Aquarium Pte Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
||Tropical Freshwater, Temperate, Marine
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Aqua-Nautic Specialist Pte Ltd., bioAquatiX, Imperial Tropicals, Qian Hu Corporation Limited, Sanyo Aquarium (Pte) Ltd., Sunbeam Aquarium Pte Ltd., etc.
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Key Questions Answered in This Report:
- How has the global ornamental fish market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global ornamental fish market?
- What is the impact of each driver, restraint, and opportunity on the global ornamental fish market?
- What are the key regional markets?
- Which countries represent the most attractive ornamental fish market?
- What is the breakup of the market based on the product?
- Which is the most attractive product in the ornamental fish market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the ornamental fish market?
- What is the competitive structure of the global ornamental fish market?
- Who are the key players/companies in the global ornamental fish market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the ornamental fish market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global ornamental fish market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the ornamental fish industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.