Press release
Ornamental Fish Market is expected to reach USD 9.8 billion by 2030
Ornamental Fish Market - DataM Intelligence
The Global Ornamental Fish Market reached USD 5.5 billion in 2022 and is expected to reach USD 9.8 billion by 2030 and is expected to grow with a CAGR of 7.5% during the forecast period 2023-2030.
The global ornamental fish market has been thriving, driven by the growing interest in fishkeeping as a hobby and the aesthetic appeal of ornamental fish. The market offers a diverse range of species, including tropical freshwater, tropical fish, marine, and temperate fish. The rise in popularity of home aquariums and the increasing demand for exotic species contribute to the steady growth of the market.
One key driver in the ornamental fish market is the increasing consumer interest in owning unique and exotic ornamental fish. The demand for rare and uncommon species, such as Arowana, Discus, and Flowerhorn, has experienced significant growth, with an approximately 20% increase in the past year. This trend reflects the willingness of consumers to explore and invest in distinctive and visually appealing ornamental fish species for their aquariums.
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Market Dynamics
The ornamental fish market is experiencing growth, propelled by the surging demand for saltwater fish. This trend has become a significant driver in the market as saltwater fish, known for their vibrant colors and unique patterns, have gained popularity among aquarium enthusiasts. The appeal of creating captivating marine ecosystems in home aquariums has contributed to the increasing demand for saltwater fish. Hobbyists are drawn to the idea of replicating the beauty of the ocean within their living spaces.
Advancements in technology and a better understanding of saltwater aquarium maintenance have encouraged more individuals to explore this specialized segment of fishkeeping. The availability of captive-bred saltwater fish species has further contributed to market growth, providing sustainable alternatives to wild-caught specimens. This trend is expected to drive the expansion of the ornamental fish market, particularly within the saltwater fish category.
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Market Segmentation
By Product Type
Tropical Freshwater
Temperate
Marine
By Application
Residential
Commercial
By Distribution Channel
Supermarkets/Hypermarkets
Specialty Stores
Online Sales
Market Key Players
Major players are Aqua-Nautic Specialist PTE LTD, AlagaeBarn LLC, Oasis Fish Farm, BioAquatix, Sagar Fish Aquarium, Sunbeam Aquarium Pte Ltd, Imperial Tropicals, Inc., Tropical Fish International Pte Ltd, LiveAquaria, and Liuji.
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