IMARC Group, a leading market research company, has recently releases report titled “Ornamental Fish Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” The study provides a detailed analysis of the industry, including the global ornamental fish market size, share, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Ornamental Fish Market?
The global ornamental fish market size reached US$ 6.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 11.5 Billion by 2032, exhibiting a growth rate (CAGR) of 7.06% during 2024-2032.
Factors Affecting the Growth of the Ornamental Fish Industry:
- Rising Popularity of Home Aquariums:
The increasing popularity of home aquariums, fueled by several factors, including their aesthetic appeal, calming effect, and their role as a hobby or form of pet-keeping, is fueling the market growth. Moreover, the rising popularity of unique and visually pleasing ways to decorate living spaces in households, boosting the use of aquariums as they offer a dynamic and engaging solution, is favoring the market growth. Additionally, the increasing knowledge of the therapeutic benefits of watching fish swim in an aquarium, which contributes to mental well-being and stress reduction, is catalyzing the market growth. Furthermore, rapid advancements in aquarium technology that make it easier for enthusiasts to maintain aquariums are enhancing the market growth.
- Increasing Disposable Income and Urbanization:
The increasing disposable income of consumers and urbanization are some of the major factors stimulating the market growth. In line with this, the growing shift in improved economic conditions as more people move to urban areas, leading to a hike in discretionary spending on hobbies and lifestyle enhancements, is strengthening the market growth. Along with this, the rising willingness of consumers to spend more on exotic and rare fish species, driving the demand for a wider variety of ornamental fish, is positively influencing the market growth. Additionally, the increasing pet ownership as ornamental fish is a low-maintenance and visually rewarding pet option, is fostering the market growth.
- Rapid Advancements in Breeding and Supply Chain Innovations:
The introduction of modern breeding technologies that enable the production of a wider variety of ornamental fish species, including those that were previously difficult to breed in captivity, is contributing to the market growth. Along with this, the growing popularity of selective breeding practices that enhance the colors, patterns, and overall health of ornamental fish is fueling the market growth. Along with this, the rising improvements in transportation and logistics that reduce the time and risk associated with shipping live fish are acting as a growth-inducing factor. Besides this, rapid innovations in packaging and handling that increase the survival rates during transit, ensuring that fish reach consumers in optimal condition, are favoring the market growth.
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Global Ornamental Fish Market Trends:
The increasing integration of technology into aquarium management, leading to the rise of smart aquariums that use the Internet of Things (IoT) devices to monitor and control various environmental parameters such as temperature, pH levels, and lighting, is fuelling the market growth. Besides this, the ongoing popularity of biotope aquariums, which require a precise selection of fish, plants, and decorations that mimic the natural environment to offer a unique and educational experience for enthusiasts, is enhancing the market growth. Moreover, the growing trend towards the incorporation of aquascaping to elevate the visual appeal of aquariums and create a niche market for specialized aquascaping products and services is fueling the market growth.
Ornamental Fish Market Report Segmentation:
Breakup By Product:
- Tropical Freshwater
- Temperate
- Marine
Tropical freshwater accounted for the largest market share due to its wide variety of colorful and hardy species that appeal to novice and experienced hobbyists.
Breakup By Application:
- Household
- Commercial
Household represented the largest segment as home aquariums have become increasingly popular due to their aesthetic value and therapeutic benefits.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America’s dominance in the interventional cardiology and peripheral vascular devices market is attributed to its advanced healthcare infrastructure, high prevalence of cardiovascular diseases, and substantial investment in medical research and development (R&D).
Who are the key players operating in the industry?
The report covers the major market players including:
- Aqua-Nautic Specialist Pte Ltd.
- bioAquatiX
- Imperial Tropicals
- Qian Hu Corporation Limited
- Sanyo Aquarium (Pte) Ltd.
- Sunbeam Aquarium Pte Ltd
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