Global Ornamental Fish Market By Product Type , By Application , By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Ornamental Fish Market Overview

The Ornamental Fish Market size is expected to be worth around USD 14,319.53 Million by 2032 from USD 6,204.3 Million in 2021, growing at a CAGR of 7.9% during the forecast period from 2022 to 2032.

Business growth is expected to be driven by millennials’ increasing popularity of decorative fish for aquariums. Beautiful, peaceful fishes such as Goldfish and Guppy in aquariums can be kept as pets. This is a part of a luxurious lifestyle and psychological advantages to reduce stress after a hectic schedule providing a feeling of the best experience. Ornamental fish’s many benefits to their owners are another factor driving demand. They have been shown to provide psychological benefits for the power of consumers of all ages, especially millennials. Mechanical filtration aquariums and chemicals are available to keep these types of fish.

Global Ornamental Fish Market Segment Scope:

Product Type Analysis

The market’s largest value segment, the tropical freshwater fish group, accounted for 52.4% of the total largest revenue share in 2021. Because of the ease and variety of colors available, new pet owners choose to keep ornamental tropical freshwater fish. Guppy, Molly, and Zebra Danio are some of the most popular tropical freshwater fish for beginners. There are many colors available for Molly and Guppy. Zebra Danios can be bought in five groups because they are schooling fish. They are highly agitated and stressed when there is no community.

The highest projected CAGR for the marine fish sector is 11.2% over 2023-2032. The marine species are delicate and require special attention, but they have a beautiful appearance that will expand the market’s reach in the future. Three types of marine aquariums are fish-only, reef aquariums, and fish-only. Triggers and Groupers, Scorpions/Lions, and Puffers/Lions are some of the large and aggressive marine species that can live in fish-only aquariums. These fish can be kept in both chemical and mechanical filtration tanks.

Application Analysis

From 2023 to 2032, the CAGR for commercial ornamental fishes is 9.3%. Commercial ornamental fishes are also being driven by the growth in ornamental marine livestock cultivation, especially in the Caribbean and North American continents. The American Pet Products Association estimates that ornamental freshwater and marine animals made a global turnover of US$ 5.8 million annually in 2018, with an average annual growth of 9.1%. For displaying marine animals and plants, zoos and oceanariums use commercial aquariums and reef tanks for display.

Oceanariums and zoos allow the public to see ornamental fishes, reefs, and other marine life. They also serve as a laboratory for studying marine ecology. These aquariums are extremely specialized and replicate the natural habitat of the species that live in them. This, in turn, improves the environment for ornamental fishes. A CAGR of 7.8% is expected for ornamental fishes in the household application market. Smart technologies are also helping to increase the number of aquarium hobbyists. Newer functions such as adjustable lighting, automatic feeding, and water treatment systems allow for easier maintenance and greater control, encouraging household consumers to adopt ornamental fishing.

Кеу Маrkеt Ѕеgmеntѕ

By Product Type

• Tropical Freshwater
• Temperate
• Marine

By Application

• Commercial
• Household

Market Dynamics:

These benefits include, but are not limited to: reducing stress after a stressful work day. It is well-known that ornamental aqua species can have a tranquil and calming effect on people. Many young people are more likely to purchase attractive fish species for ornamental decorative purposes due to their appealing features and different characteristics. This has led to rapid growth in the ornamental fish market size. The latest technological advances in the industry trends, such as automatic filters and pet cameras, have increased the demand for premium pets. Monitoring water chemistry in aquariums was a problem for many years. However, new in-tank devices now provide real-time measurements of everything, from pH levels to water hardness. This makes it easier to maintain optimal conditions.

Ornamental fish aquariums have become a tool for emotional and educational development. While one may enjoy an aquarium’s unique design and enjoyment, it is also a way to connect with nature more intimately than you might think. The evidence also shows that physical contact with nature can stimulate intellectual and cognitive development. This means that people interacting with aquariums can think more clearly and have better problem-solving skills. Home fish aquariums are not only a great way to develop emotional intelligence, but they also serve as excellent educational tools.

The market faced many challenges in 2020, including closing non-essential companies. As a result of the COVID-19 pandemic, there has been a ripple effect on captive animal care facilities. The World Trade Organization also estimated that there would be a drop in world trade of between 15% to 35% due to disruptions in economic activity caused by the COVID-19 epidemic. The estimated decline in global trade, which is more than 82% in total volume, suggests that there will be a significant drop in marine-based human activities.

Tourists love visiting aquariums, marine parks, art aquarium museums, and other attractions, especially in the spring and summer. However, they were not an option during the lockdown periods. The coronavirus crisis caused the Oakland Zoo in California to be one of the hardest-hit venues. Since 2020, the facility has lost approximately US$ 2.4 million each month.

Regional Market Analysis

Europe was the dominant market, accounting for 40.8% of the total largest revenue share in 2021. This trend will likely continue during the forecast period. To meet the huge demand for ornamental fish, large-scale imports from Asian countries like Thailand, Singapore, and Japan have been major factors in this market. Fishkeeping is an easy hobby that relieves stress and contributes to foreign and domestic exchange. In terms of growth rate, the zoo-and-aquarium category in the commercial sector will outperform other segments during the forecast period. The high replacement rate for livestock and other components in zoos/Art Aquarium Museum will likely boost the growth of the commercial segment over the next few years.

The Asia Pacific was led by China and Japan in 2019, emerging as the most important individual market for ornamental fishes worldwide. The expansion of the region’s market analysis may have contributed to an increase in demand for exotic and premium ornamental fishes. Various uncommon fish species have been in demand due to the popularity of fish in Japanese culture.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

This market is open to both domestic and international players. The market’s key market players focus on strategies like mergers, acquisitions, innovation, new product launches in retail, and decor products that will enhance their portfolio. The ornamental fish market has some prominent players, such as:

Маrkеt Кеу Рlауеrѕ:

• Aqua-Nautic Specialist Pvt. Ltd.
• AlgaeBarn LLC
• bioAquatiX
• Imperial Tropicals
• LiveAquaria
• Oasis Fish Farm
• Sanyo Aquarium (Pvt.) Ltd.
• Qian Hu Corporation Limited
• Sunbeam Aquarium Pvt. Ltd.
• Tropical Fish International Pvt. Ltd.
• Other Key Players