Product ID: SQMIG25J2041
Global Ornamental Fish Market Size, Share, Growth Analysis, By Product(Tropical Freshwater, Temperate), By Application(Commercial, Household) - Industry Forecast 2024-2031
Report ID:
SQMIG25J2041 |
Region:
Global |
Published Date: April, 2024
Pages:
242
|
Tables:
62 |
Figures:
75
Global Ornamental Fish Market Insights
Ornamental Fish Market size was valued at USD 5.42 billion in 2019 and is poised to grow from USD 5.88 billion in 2023 to USD 11.68 billion by 2031, growing at a CAGR of 8.5% in the forecast period (2024-2031).
Business expansion is anticipated to be fueled by the millennial generation's growing preference for decorative aquarium fish with vibrant colours as part of a high-end lifestyle. The numerous advantages that ornamental fish offer consumers also contribute to their high demand. It has been demonstrated, for instance, that keeping peaceful, aesthetically pleasing fish as pets in small aquariums, such as Betta Fish (Siamese Fighting Fish), Goldfish, Guppy, and Cory Catfish, can have a variety of psychological advantages for customers of all ages.
The advantages include—but are not limited to—lessening stress following a busy workday. It is well known that watching ornamental aquatic species float serenely through the water can calm and relax people. Due to their alluring features and distinctive traits, it has been found that many young consumers are more likely to purchase attractive fish species primarily for decorative purposes. In turn, this has helped the market for ornamental fish grow exponentially. Additionally, the most recent technological developments in the field, such as pet cameras and automatic filters, have increased consumer demand for pet adoption. Aquariums with decorative fish are becoming resources for mental and emotional growth. While the design of an aquarium may be enjoyable and interesting, the effects of having such a close relationship with nature go much deeper than one might think. Furthermore, the evidence presented above demonstrates that direct physical contact with nature fosters intellectual or cognitive development. In other words, people's ability to form ideas and solve problems is improved when they observe and engage with an aquarium. The use of home fish aquariums as a powerful educational tool extends beyond emotional development.
US Ornamental Fish Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global Ornamental Fish Market Segmental Analysis
Global ornamental fish market is segmented based on the product, application, and region. Based on Product the ornamental fish market is segmented into Tropical Freshwater, Temperate, and Marine. Based on the application the market is segmented into Commercial, and Household. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Ornamental Fish Market Analysis by Product
Based on Product the market is segmented into Tropical Freshwater, Temperate, and Marine. Tropical freshwater fish dominated the market in terms of value and accounted for the largest revenue share (51.7%) in 2021. Due to their ease of care and the range of colors they come in, tropical freshwater ornamental fish are a favourite among new pet owners. Guppy, Molly, Zebra Danio, and many others are among the best tropical freshwater fish for beginners. Furthermore, fish like the guppy, molly, and zebra danio cost only a few dollars, typically between one and six dollars. Guppy and Molly come in a variety of hues. Zebra Danios are purchased in packs of five because they are schooling fish and become very agitated or stressed when left alone. The marine fishes segment is anticipated to experience the highest CAGR of 9.4% for the forecast period. Marine species have unique needs, but they also have a pleasing appearance, which is anticipated to broaden the segment's focus in the years to come. The three types of marine aquariums are reef aquariums, fish-only aquariums, and fish-only aquariums with live rock (FOWLR). However, among the powerful and aggressive marine species that can be kept in tanks with only fish are triggerfish, groupers, scorpionfish, lionfish, pufferfish, snapperfish, squirrelfish, and tangs. These kinds of fish can be kept in aquariums with chemical and mechanical filtration.
Ornamental Fish Market Analysis by Application
Based on the application the ornamental fish market is segmented into Commercial, Household. During the forecast period, the commercial segment for ornamental fish market is expected to grow at a CAGR of 8.8%. The demand for commercial ornamental fish is also being driven by the expansion of ornamental marine livestock farming, particularly in the Caribbean, North America, and Southeast Asia. According to the American Pet Products Association, ornamental freshwater and marine livestock had a global annual turnover of USD 5 billion in 2018, growing by an average of 8% per year. Zoos and oceanariums use commercial aquariums and reef tanks to exhibit marine life, particularly pelagic or oceanic fish and mammals. The public can view ornamental fish and reefs at zoos and oceanariums, which are also used to conduct scientific research on marine ecology. The environment for ornamental fish is improved by the highly specialised aquariums required for these uses because they accurately replicate the natural habitat of the species that live there. A CAGR of 8.3% is anticipated for the household application segment of ornamental fish. Newer functionalities like adjustable lighting, automatic feeding systems, and water treatment systems enable ease of maintenance and greater control, which further encourages household consumers to adopt ornamental fish, and they are contributing to the growing number of aquarium hobbyists.
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Global Ornamental Fish Market Regional Insights
Europe with a 39.3% revenue share in 2021, dominated the market and is expected to keep up this trend over the forecast period. This is a result of the extensive importation of ornamental fish from Asian nations like Singapore, Thailand, and Japan to satisfy the region's enormous demand for ornamental fish. Ornamental fishes also contribute to import and export activities, as well as foreign exchange, because keeping fish is a simple and stress-relieving hobby. Additionally, the commercial sector's zoo and aquarium category is anticipated to grow faster than other segments during the forecast period. The high replacement rate of animals and equipment in zoos and aquariums is anticipated to increase the commercial segment's growth over the next few years.
Asia Pacific held the second largest position in ornamental fish market. Asia Pacific has become one of the most significant markets for ornamental fish in the world, led by China, Japan, and India. It is possible to attribute the rising demand for high-end and exotic ornamental fish to the growth of the local market. The demand for a wide range of unusual fish species has increased due to the prevalence of fish in Japanese art culture. For instance, at Hidetomo Kimura's Art Aquarium Museum 2020 exhibition in Tokyo, over 30,000 live fish came together to create a moving psychedelic piece of art. As part of the live art exhibition, more than 30,000 live fish are on display in water tanks and aquariums of every size, shape, and colour.
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Global Ornamental Fish Market Dynamics
Ornamental Fish Market Driver
- Stress and anxiety are reduced by seeing fish in action. The advantages of caring for fish may reduce stress while also promoting relaxation. One of the environmental sounds that most people find soothing is the sound of running water. The sounds of rivers, rainstorms, and ocean waves are examples of other types of music that can help the mind unwind. Due to the characteristics of this water sound, some people favour fishing in rivers. Instead of catching fish, they can enjoy the melodies and the surrounding beauty. On the other hand, those who tend to fish in aquariums might be more delighted to add a calming effect to the home. Because watching fish swim reduces anxiety and stress after the aquarium has been decorated with rocks and plants.
- Activity involving fisheries and their habitats contributes to economic growth. The economic activity generated by aquariums is both direct and indirect. Aquariums' expenditures on the supplies and services they need are considered direct economic activity. Indirect economic activity refers to the positive effects aquariums have on nearby businesses like hotels, restaurants, and shops. As a result of rising economic activity, cities and states must pay more taxes. It is impossible to overstate how valuable the recreational fishing market is. 60% of exports come from developing nations, so the decorative industry benefits them. In contrast to the Philippines, where collectors have few employment options, this industry supports 60% of the regional economy in Amazonas, Brazil. But these financial advantages are now offered by the capture industry.
Ornamental Fish Market Restraint
- Diverse harmful infections were discovered in fish. Many of the bacteria found in the fish, including Aeromonas, Pseudomonas, Staphylococcus, and others, can infect both fish and humans. Miller-Morgan claims that antibiotic resistance has been a growing problem for some time. Due to the nature of the resistance, antibiotics may lose some or all of their effectiveness. He added that instances of disease transmission from fish to humans have been documented, but they are uncommon. He said anyone with a weakened or compromised immune system should be particularly concerned and should discuss tropical fish management with their doctor if they have such medical conditions.
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Global Ornamental Fish Market Competitive Landscape
The Global ornamental fish market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Top Players in the Global Ornamental Fish Market
- Guangzhou Fischer Chemical Co., Ltd.
- Liuji Aquatic Products Co., Ltd.
- Coral Sea Fish Co., Ltd.
- Atabey Aquatic Inc.
- Blue Ridge Fish Hatchery
- Qian Hu Corporation Limited
- Florida Tropical Fish Direct
- Sea Dwelling Creatures, Inc.
- Quality Marine
- Blue Zoo Aquatics
- Fincasters
- Segrest Farms
- Aquatropic
- Imperial Tropicals
- Cebu Tropical Reef Life Aquarium, Inc.
- Tropical Fish International
- Aqua Leisure International
- Koi Acres
- Zoological Imports
- OATA (Ornamental Aquatic Trade Association)
Ornamental Fish Market Recent Developments
- In Aug 2022, Cooke Acquired Belgian Shrimp Processor Morubel From Bencis. Morubel distributes its market-leading organic and frozen products to retail, foodservice and food industry customers across Europe in Spain, Portugal, Germany, Belgium, the Netherlands, Luxembourg, Italy, and France.
- In Aug 2022, Nano aquaria announced that it will help increase household income of women entrepreneurs.
Global Ornamental Fish Key Market Trends
- As water naturally evaporates off the surface, auto top-off systems replenish the water level in your tank by pumping more water into it. This aids in stabilising your tank's salinity. The smaller the auto top-off sensors, the better for aquarium enthusiasts. Large, awkward, and clumsy sensors can be ugly.
Thankfully, there is an increase in the availability of small auto top-off sensors with "smart" technology. Just two examples include the Water Refill Genie and AutoAqua Smart ATO Micro. If wish to provide your fish with an additional snack. By discharging just the right amount of food for your tank, they also aid in reducing waste. They use food that has been flaked or pelleted.
- A well-liked and quickly spreading trend in the hobby is the establishment of miniature marine reef ecosystems in aquariums. Reef tanks are saltwater aquariums with a small fish population and a heavy emphasis on invertebrates. A standard reef tank consists of live rock, hard and soft corals, invertebrates such as crustaceans and mollusks, and, of course, an infinite variety of colourful fish. As a result, many marine species used in the ornamental trade have seen a sharp increase in market value.
Global Ornamental Fish Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global ornamental fish market analysis, in terms of product, tropical freshwater fish dominated the market in terms of value and accounted for the largest revenue share (51.7%) in 2021. Due to their ease of care and the range of colors they come in, tropical freshwater ornamental fish are a favourite among new pet owners. In terms of application, the commercial segment for the ornamental fish market is expected to grow at a CAGR of 8.8%. The demand for commercial ornamental fish is also being driven by the expansion of ornamental marine livestock farming, particularly in the Caribbean, North America, and Southeast Asia.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 5.42 billion |
| Market size value in 2031 | USD 11.68 billion |
| Growth Rate | 8.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Ornamental Fish Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Ornamental Fish Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Ornamental Fish Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Ornamental Fish Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Ornamental Fish Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Ornamental Fish Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Ornamental Fish Market Report Snapshots
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