Ornamental Fish Market (2023 - 2030) Size, Share & Trends Analysis Report By Product (Tropical Freshwater, Temperate, Marine), By Application (Household, Commercial), By Region, And Segment Forecasts

Ornamental Fish Market Summary

Rising innovations in aquariums with advanced designs are supporting market expansion as consumers look for accent showpieces to feature in a room. Two other trends that have been around for a while but are still getting popular are planted tanks and aquascaping.

The COVID-19 pandemic had a huge impact on the ornamental fish industry. As the pandemic progressed, a report by American Pet Products Association suggested that people in the U.S. adopted new pets, influenced by the extra time they had on hand due to lockdowns. This increase in pet adoption, including ornamental fish, is likely to favor market growth.

Similarly, around 3.2 million households in the U.K. acquired a pet since the beginning of the COVID-19 pandemic. Around 56% of new pet owners have children at home, while over 59% of new pet owners are aged 16 to 34. The trend of pet adoption is mainly driven by millennials as well as the Gen-Z population and a majority of pet owners claimed that these companion animals helped them cope with their mental health struggles during the pandemic.

Over the past years, there has been considerable growth and diversification in the domestic and international trade in ornamental fishes. There is a rise in demand from top importing countries that contribute majorly to the growth of the market. Moreover, in recent years there has been a rise in the interest shown by home hobbyists and public aquaria to keep marine ornamentals. As a result, the proportion of ornamental fish trade across the globe has improved drastically. In addition, most of the market consists of home hobbyists and then public aquaria and research institutes. According to statistics published by TrendEconomy in November 2021, over 50% of the suppliers are located in Asian countries.

The numerous advantages that ornamental fish offer consumers also contribute to their high demand. Some of the health benefits include a reduction in stress and anxiety, calmness, controlled heart rates, and mood enhancement. Aquariums also help ease symptoms in Alzheimer's patients. Several research studies have shed light on the benefits of viewing fish in an aquarium. Moreover, having a fish tank at home is beneficial for consumers with high blood pressure. In addition, watching a fish tank reduces depression and anxiety.

Recent technology developments in the pet care sector, such as pet webcams and automatic filters, have increased the desire to adopt pets. Modern technology has made it easier than ever to cultivate and maintain a thriving aquarium at home. For instance, monitoring water chemistry in aquariums has been a constant concern for many years. Nevertheless, new in-tank equipment can now offer real-time measurements for everything, from pH levels to water hardness, making it simpler to control the ideal circumstances.

Organizations that rely on wild collection also recognize the need for sustainable sourcing that protects the biodiversity of the areas. Consumer demand is increasing for animals that have been sourced sustainably without damage to the ecosystem. As a result, the rise in the trend of sustainability among consumers is offering opportunities for the growth of the market. Moreover, major ornamental fish providers are making efforts to protect the biodiversity of aquatic habitats, not only for economic sustainability but also as a community of people that value the natural world.

Product Insights

In terms of revenue, the tropical freshwater segment of the ornamental fish market dominated with a share of about 51.6% in 2022. These are common house pets kept in ponds and aquariums all over the world. Tropical freshwater ornamental fish comes in a wide variety of species, each with its own traits and upkeep needs. Tetras, guppies, mollies, betta, and goldfish are a few common tropical freshwater ornamental fish species. Due to the ease of pet care and the range of colors available for these fishes, new pet owners prefer to keep tropical freshwater ornamental fish.

The marine ornamental fish segment is projected to register a CAGR of 9.5% from 2023 to 2030. These fish types are distinguished by their vivid hues, complex designs, and distinctive forms. Due to the particular equipment and water requirements, marine ornamental fish are frequently more difficult to maintain than freshwater fish. Reef aquariums and fish-only aquariums are subcategories of marine aquariums. The segment will grow during the forecast period due to the wide range of marine fish species and colors.

Application Insights

The household application segment dominated with a revenue share of almost 71.2% in 2022. The household use of ornamental fish is on the rise as they improve the aesthetics of a residential environment. Moreover, the economic growth-led household income rise is another key factor driving the demand for ornamental fish across the globe, particularly in the emerging economies of India, China, and Brazil. Additionally, smart technology advancements are helping to increase the number of aquarium hobbyists, which is encouraging more household consumers to adopt ornamental fish.

The commercial application segment is expected to witness a CAGR of 8.9% from 2023 to 2030. Increasing installation of aquariums in the hospitality sector as an aid to promoting stress relief initiatives through fish-keeping has driven the popularity of ornamental fish in the commercial sector. Moreover, the concept of underwater hotels in the hospitality sector is also driving product demand from the commercial sector. For instance, Jules Undersea Lodge is an American hotel located in Key Largo, Florida, and is the only underwater hotel in the United States.

Regional Insights

Europe dominated the market with a share of over 38.7% in 2022. This is due to the large-scale imports of ornamental fishes from Asian countries such as Singapore, Thailand, and Japan, to meet the region's huge demand for decorative fishes. Because fishkeeping is a simple and stress-relieving hobby, ornamental fishes also contribute to import and export activities, as well as foreign exchange. 

Moreover, according to the University of Florida, Institute of Food and Agricultural Sciences, in European countries like the Czech Republic, Spain, Israel, Belgium, and Holland, various ornamental fish are now cultivated. In addition, due to low transportation costs, producing fish near consumer hubs is becoming more profitable. 

Asia Pacific is poised to register the fastest CAGR of about 9.6% over the forecast period. The region led by China, Japan, and India, emerged as one of the world’s most important marketplaces for ornamental fish. The increased demand for premium and exotic ornamental fishes might be ascribed to the regional market's expansion. 

The popularity of fish in Japanese art culture has boosted the demand for a variety of unusual fish species. The popularity of rare exotic fishes as a status symbol among the Asian elite provides chances for market expansion. The Asian Arowana, for example, is one of the costliest aquatic species in the world, with prices ranging from USD 300 to USD 300,000 or more.

Key Companies & Market Share Insights

The market is characterized by the presence of several established players and emerging ones. Companies in the market are introducing new fish, and related products, acquisitions, and partnerships, to compete. Additionally, steps are being taken to leverage expertise and increase market contribution.

• In December 2021, Qian Hu Corporation Limited entered into an agreement with AquaEasy Pte Ltd. to assist shrimp farmers in implementing sustainable aquaculture practices, increasing output, and increasing profitability while lowering risks and expenses. AquaEasy combines sensors, software, and services based on data analysis capabilities.

• In November 2021, Imperial Tropicals partnered with Hikari, a Japanese fish food brand. This brand of feed is suitable for all types of fish, whether bred or caught wild. This partnership helped the customers to get acquainted with the brand of the fish food to ensure the good health of their fish

Some prominent players in the global ornamental fish market include:

• Aqua-Nautic Specialist Pte Ltd.

• AlgaeBarn LLC

• bioAquatiX

• Imperial Tropicals

• LiveAquaria

• Oasis Fish Farm

• Sanyo Aquarium (Pte) Ltd.

• Qian Hu Corporation Limited

• Sunbeam Aquarium Pte Ltd.

• Tropical Fish International Pte Ltd.

Ornamental Fish Market Report Scope

Global Ornamental Fish Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global ornamental fish market report based on product, application, and region:

•  Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Tropical Freshwater

  • Temperate

  • Marine

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Household

  • Commercial

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • India

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa