Countries like the U.S. and the U.K. are global leaders in terms of pet adoption; however, several other countries like China, India, Japan, and Brazil are at the forefront in terms of growth in pet adoption. Fishes are becoming increasingly popular as pets, which, in turn, is driving the growth of the ornamental fish market. The space needed to house a larger pet has significantly decreased as more people move into smaller homes and rentals in cities. Consumers are increasingly choosing fish as pets since they are peaceful animals and take up less space in houses. The ornamental fish market in the residential sector is seeing various chances for expansion as a result of this trend. Moreover, the rising traction toward aquarium hobby is favoring the growth of the market. The increasing penetration of fish keeping among hobbyist not only affects the penetration of ornamental fish but also largely impacts its global trade.
The desire to adopt pets has been further increased by recent technology developments in the pet care sector, such as pet webcams and automatic filters. 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. The availability of prefabricated fish tanks has changed due to advancement in technology. Larger fish tanks with capacities greater than 100 gallons are now attainable due to new manufacturing methods and superior materials. Over time, improvements have also been made to aquarium filtration maintenance. These aforementioned factors is likely to fuel the growth of the market in coming years.
The selling price of fish is not changing in accordance with the increasing material costs — feed, sand, cement, transport, and labor. In addition, the increasing demand among the consumer is likely not reflecting in the price of the ornamental fish, which is negatively impacting the growth of businesses of ornamental fish providers. This factor is one of the most important constraints for the growth of the ornamental fish market. Small-scale farmers who are willing to setup ornamental fish farms cannot afford different readymade packed fish food pellets or purchase cyst drums due to the high price, which is restricting them from entering the business. The low awareness, unaffordability, and inaccessibility of resources among small-scale farmers is impacting negatively to the growth of the market.
This section will provide insights into the contents included in this ornamental fish market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Market drivers and restraints
Key market opportunities prioritized
Latest strategic developments
Market size, estimates, and forecast from 2017 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance
GET A FREE SAMPLE
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
ESOMAR certified & member