Ornamental Fish Market Size, Share, In-Depth Analysis and Forecast 2024-2032

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 Disposable Income:

The increase in disposable incomes globally has a significant impact on the growth of the ornamental fish market. Individuals and households are experiencing a rise in their income levels, leading to more financial freedom to spend on non-essential items, including hobbies and luxury goods. This economic shift is particularly evident in emerging markets where the middle class is expanding rapidly. Ornamental fish considered a luxury pet, become more accessible to a broader demographic, leading to higher sales and market growth. Additionally, with higher disposable incomes, consumers are willing to invest in premium breeds and sophisticated aquarium setups, which further stimulates market demand.

• Urbanization and Smaller Living Spaces:

Urbanization, coupled with the trend of shrinking living spaces in urban areas, is significantly boosting the market growth. More people are migrating to cities, resulting in the heightened demand for compact and easily manageable pets. Ornamental fish fit this criterion perfectly, as they require less space and are relatively low-maintenance compared to other pets. Furthermore, apartments and small homes in urban settings often lack the space needed for larger pets, making aquariums an attractive alternative for pet enthusiasts. Additionally, the aesthetic appeal of a well-maintained aquarium also adds to the desirability, as it can enhance the ambiance of small living spaces without occupying much room.

• Increasing Interest in Aquascaping:

Aquascaping is the practice of creating aesthetically pleasing and balanced aquatic landscapes. This hobby involves arranging aquatic plants, stones, driftwood, and ornamental fish in a visually appealing manner, often drawing inspiration from natural landscapes. The rise of social media platforms and online communities dedicated to aquascaping has fueled interest, with enthusiasts sharing their creations and techniques, inspiring others to take up the hobby. This artistic endeavor not only enhances the visual appeal of aquariums but also promotes the welfare of the fish, as it encourages the creation of more natural and stimulating environments. Additionally, the increased interest in aquascaping drives demand for a wide variety of ornamental fish species that can thrive in these carefully crafted environments.

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/ornamental-fish-market/requestsample

Ornamental Fish Market Trends:

Recent improvements in breeding techniques, which have made it easier to produce a wide variety of ornamental fish, enhancing availability and diversity, are propelling the market growth. Additionally, the widespread utilization of aquariums as decorative pieces in homes and offices, boosting the demand for ornamental fish, is driving the market growth. Besides this, the significant growth of online retail platforms, which has made it easier for consumers to purchase ornamental fish, is contributing to the market growth. Furthermore, the rising number of events like aquarium exhibitions and trade shows, which promote the ornamental fish industry and attract new customers, is fueling the market growth.

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

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product:

• Tropical Freshwater
• Temperate
• Marine

Tropical freshwater holds the majority of the market share due to their vibrant colors, ease of care, and high demand among hobbyists.

Breakup by Application:

• Household
• Commercial

Household accounted for the largest market share as more consumers are adopting ornamental fish for personal enjoyment and home decor.

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)

Europe's dominance in the market is attributed to a strong culture of pet ownership, high disposable incomes, and a well-established ornamental fish industry.

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐁𝐫𝐨𝐰𝐬𝐞 𝐟𝐮𝐥𝐥 𝐫𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐎𝐂 & 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐅𝐢𝐠𝐮𝐫𝐞: https://www.imarcgroup.com/request?type=report&id=7298&flag=C

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

𝗔𝗯𝗼𝘂𝘁 𝗨𝘀:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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This release was published on openPR.