Global Ornamental Fish Market by Product type (Tropical Freshwater, Marine, and Temperate), Application (Household and Commercial), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032

Ornamental Fish Overview

The fishes that are kept in home aquariums, or for aesthetic purposes are considered ornamental fish. These fishes encompass a wide variety of species, of many shapes, sizes, and colors. Ornamental fish are usually kept in tanks or other aquarium systems. Water quality is extremely important in aquaculture, because the fish are dependent on the caretaker for their health. The ornamental fish market growing significantly over the years due to the increasing popularity for unique and rare fish species.

Global Ornamental Fish Market Analysis

The global ornamental fish market size was $5.97 billion in 2022 and is predicted to grow with a CAGR of 8.6%, by generating a revenue of $13.26 billion by 2032.

COVID-19 Impact on Ornamental Fish Global Market

The COVID-19 pandemic has had both direct and indirect impacts on the global ornamental fish market. Disruption in the supply chain affected the transportation and international trade of ornamental fish. The pandemic also affected the import and export of the fish which led to a lack of diversity and availability in the ornamental fish market. Many pet stores and aquarium businesses faced temporary closures due to the lockdown. This resulted in decline in sales and revenue generation for the retailers and breeders involved in the ornamental fish trade. During the pandemic, people faced economic uncertainties and financial constraints Thus, several people reduced unnecessary spendings. The changed consumer spending behaviour had a negative impact on the ornamental fish trade.

On the other hand, during the lockdown people spent most of the time at home. This increased the demand for in home-based hobbies, including aquarium keeping. As a result, the demand for ornamental fish increased. The lockdown offered opportunities to many e-commerce channels across various industries, including the ornamental fish market. Online platforms and retailers offering ornamental fish experienced increased sales as consumers turned to online shopping for their needs related to aquarium keeping. Various organizations and regulations promoted sustainable practices and ensure the well-being of fish because of raised concerns related to sustainability, environmental impact, and animal welfare.

Growing Demand for Aquariums to Drive the Market Growth

Aquariums provide a calming and pleasing visual to home, people find joy in observing and caring for ornamental fish. This interest drives the demand for a variety of fish species, which boosts the global market. Disposal income is increasing with growing economies; individuals have more resources to spend on leisure activities and hobbies. Ornamental fish keeping is considered a luxurious hobby, because of the high disposal income people invest in aquariums, equipment, and a diverse range of ornamental fish species. There are advanced technology and equipment available in the market including filtration systems, efficient lighting options, and automated monitoring devices have made it easier to maintain healthy and visually appealing aquariums. The pet industry is expanding, with pets being considered important members of the family. This increased pet humanization trend is predicted to drive the ornamental fish market, with fish owners investing in high quality care, specialized products for their companies.

Legal Restrictions to Restrain the Market Growth

The global ornamental fish market faces several restraints and challenges that can impact its growth and development. There are various regulations and legal restrictions subject to the trade of ornamental fish, both at national and international levels. These regulations and restrictions help to protect the ecosystems, prevent the spread of invasive species, and ensure the ethical treatment of animals. Overfishing, destructive collection practices, and unsustainable trade can affect on fish populations, habitat degradation, and the introduction of invasive species. Also, the collection of fish in the fragile ecosystem can have ecological consequences. The ornamental fishes are highly susceptible to diseases, and hence the presence of any disease can impact the market.

Growth of Emerging Markets to Drive Excellent Opportunities

The demand for ornamental fish is increasing in emerging markets and untapped regions. Due to the growing urbanization in these region, there is a growing interest in aquarium keeping and ornamental fish as a hobby. Business can target these regional markets, offering a wide range of fish species, aquariums, supplies and expertise. E commerce and online platforms unlock the opportunities for businesses to reach a broader customer base, including international markets. E commerce also provides convenience to the customers to purchase ornamental fish and advanced equipment, driving market growth. Increasing awareness about environmental conservation businesses adopting the sustainable and ethical practices, responsible sourcing methods, promoting convict breeding programs, and implementing eco-friendly initiatives can attract environmentally conscious consumers and contribute to market opportunities. Investing in innovative technologies and products including advanced and improved filtration systems and automated feeding systems make aquarium keeping more convenient and enhance the overall aquarium experience and create opportunities for businesses. Unique and rare fish species have the highest demand in the market. Businesses that specialize in breeding and offering rare and wide range of fish species have opportunity to generate higher revenue and target the niche market segment. It's important for businesses in the ornamental fish trade to stay updated on consumer preferences, market trends, and emerging opportunities to generate revenue and to grow businesses.

Global Ornamental Fish Market share, by Product, 2022

Tropical freshwater fish sub-segment accounted for the highest share in 2022. Tropical freshwater fish are known for their vibrant colors, unique patterns, and interesting behaviors. Their visual appeal and the ability to create stunning underwater landscapes attract hobbyists and enthusiasts. The desire to create visually appealing and captivating aquariums drives the demand for tropical freshwater fish. Many tropical freshwater fish species are relatively easy to care for and adapt well to captive environments, making them available to a wide range of hobbyists, including beginners. Tropical freshwater fish, such as tetras, guppies, and catfish, are often compatible with community aquarium setups. The ability to keep multiple fish species together in a community aquarium drives the demand for tropical freshwater fish.

Global Ornamental Fish Market Size, by Application, 2022

Household sub-segment accounted for the highest share in 2022. Ornamental fish are chosen for their vibrant colors, unique patterns, and graceful movements, which add visual appeal and beauty to home environments. Many individuals are attracted to the calming and aesthetically pleasing nature of aquariums, making them a popular choice for enhancing the ambiance of living spaces. Many individuals find the presence of an aquarium soothing and helpful, leading to an increased demand for household applications in the form of small to large aquarium setups. Having an aquarium at home provides a hands-on learning experience and can foster an interest in biology, the environment, and the natural world.

Global Ornamental Fish Market Growth, by Region, 2022

The Europe ornamental fish market accounted for the highest share in 2022. The Europe ornamental fish market offers a promising scope for various stakeholders. There is increasing interest among European people for keeping ornamental fish as pets. Europe has a relatively wealthy population, which consists of many urban areas witnessing a rise in disposable income. This enables individuals to spend their money on ornamental fishkeeping as a hobby. European markets have diversified demand for various species of ornamental fish. Europe has a developed pet industry and retail sector, which consists of pet stores, aquarium shops, and online platforms for the ornamental fish markets. Europe is also the hub for exporting ornamental fish. European breeders and exporters supply fish to markets outside Europe, including Asia, North America, and the Middle East.

Competitive Scenario in the Global Ornamental Fish Market

Aqua-Nautic Specialist Pte Ltd. was established in 1975, focusing primarily on the breeding and distribution of ornamental fish. The Headquarter of this industry is in Singapore. Aqua-Nautic Specialist is one of the major players in the industry with an extensive network of more than 38 vendors from Asia, Africa, and South America. The company have established as a trusted supplier for quality aquatic livestock and products at competitive prices through the support of international clients and commitment to deliver premium customer service and products via an efficient premium livestock supply chain management and ordering system.

Some of the leading global ornamental fish market players are Aqua-Nautic Specialist Pte Ltd., bioAquatiX, AlgaeBarn LLC, Imperial Tropicals, Oasis Fish Farm, LiveAquaria, Sanyo Aquarium (Pte) Ltd., Sunbeam Aquarium Pte Ltd., Qian Hu Corporation Limited, and Tropical Fish International Pte Ltd.