Ornamental Fish Market Will Represent a Major Market Force & a Revenue Opportunity
The global ornamental fish market in terms of production is a multibillion dollar industry. The market is envisioned to cross $ x.x billion in 2025 and is anticipated to grow with an optimistic CAGR of more than x.x% during the forecast period of 2018 to 2025.
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Initially, ornamental fish keeping was practiced in developed countries but it is also gaining traction in developing countries as they have two third share of the total export value. The factor behind the expansion of ornamental fish market size is gro
wing interest for aquarium fishes. This has expanded the trade activity of this particular market in more than 125 countries. With the growing popularity of household aquariums, the graph for global ornamental fish belonging to public aquaria sector is less than 1%. The import market is boosted in emerging developing countries of tropical and sub-tropical regions as most of the ornamental fish is sourced from there. The practice of international trade in ornamental fish consequently became the reason for employment opportunities to thousands of rural people in developing countries. The other contributing factors that propel the market growth includes advancements in transport, breeding, and aquarium technology. However, supply issues can also be related to mortality caused by poor handling, destructive fishing methods, and quarantine procedures, and other manmade factors like over-exploitation of a particular population of a species may deter the global ornamental fish market.
the European Union is considered the largest ornamental fish market. While the single largest importing country for ornamental fish across the globe is the United States. In 1990’s, with the research studies, it was concluded that 8-13% households had aquaria in the regions which majorly include the USA, Japan and Europe; with ornamental fish keeping as the second most interesting hobby after photography.
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.
hill stream fishes belonging to the genera Barilius, Homaloptera, Balitora, Garra, Nemacheilus and Lepidocephalus are the species of cold water but also found in warm waters. Their multiplication is easily achievable in stagnant water conditions in the aquaria condition. Thus, the market is prevalent.
The ornamental fish industry, based on product type is segmented into Temperate Fresh Water, Tropical Fresh Water and Marine Ornamentals Fruit Snacks & Dried Fruit Snacks. Based on application, the market is categorized as Residential and Commercial.
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The global ornamental fish market is mainly operated by following operators including Wanjin, Haojin, Aqua Leisure, Florida Tropical Fish Direct, Captive Bred, Guangzhou Leshi Aguarium, Liuji, Jiahe, Oasis Fish Farm, Imperial Tropicals, BioAquatix, Chongqing Shanghua etc.
Key segments of ‘Global Ornamental Fish Market’
Based on type, the market has been segmented into,
The market breakdown on basis of application,
Others Based on region, the market has been segmented into,
North America: United States, Canada, Mexico
Asia-Pacific: China, India, Japan, South Korea, Australia, Indonesia, Singapore, Malaysia, Philippines, Thailand, Vietnam
Europe: Germany, France, UK, Italy, Spain, Russia
Central & South America: Brazil, Rest of Central & South America
Middle East & Africa: GCC Countries, Turkey, Egypt, South Africa
What to expect from the upcoming report on ‘Global Ornamental Fish Market’:
– Future prospects and current trends of the global ornamental fish market by the end of forecast period (2018-2025)
– Information regarding technological progressions as well as innovations taking place in developing economies
– Supportive initiatives by government likely to influence the market dynamics
– Trends, drivers, opportunities, restraints, challenges and key developments in the market
– In-depth analysis of different market segmentations including regional segmentations, and product types
– Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market
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Venture capitalists, Investors, financial institutions, Analysts, Government organizations, regulatory authorities, policymakers ,researchers, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
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