Goldfish Market Size was estimated at 14.76 (USD Billion) in 2023. The Goldfish Industry is expected to grow from 15.32(USD Billion) in 2024 to 21.4 (USD Billion) by 2032. The Goldfish Market CAGR (growth rate) is expected to be around 3.79% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
The Goldfish Market is shaped by various factors that drive its growth. One of the key drivers is the increasing demand for ornamental fish, driven by the growing popularity of home aquariums as a leisure activity. Another factor contributing to the market growth is rising disposable income, enabling consumers to indulge in luxury items such as exotic fish. Furthermore, breeding and genetic engineering advancements have led to diverse goldfish varieties, attracting hobbyists and collectors.Opportunities for exploration in the Goldfish Market lie in expanding online marketplaces, providing broader access to a customer base. Additionally, integrating technology in fishkeeping, such as automated feeding systems and water quality monitoring devices, presents opportunities for innovation and value-added products.Recent trends in the Goldfish Market include a growing preference for sustainable and eco-friendly practices in fishkeeping. This trend drives demand for goldfish bred in ethical and environmentally friendly conditions. Moreover, the rise of social media platforms has created new opportunities for marketing and community building among goldfish enthusiasts.
The goldfish market is booming globally due to the high interest of people owning goldfish as pets. They are the most vibrant and low-maintained fish varieties when compared to other species worldwide. Constructing an aquarium has become mandatory as numerous people reside in urban areas and small houses that have no gardens. Also, they are the most adaptable fish for any tank size, and they can grow well in indoor conditions, too.Financially, they are gaining more and more popularity due to their colors, size, and diversity, as they are available in many options. Most people are showing interest in growing these fish, and a real increase in the number of breeders has undoubtedly contributed to the overall growth of the Goldfish Market Industry.
Technological achievements have had a profound impact on the Goldfish Market Industry. Automated feeding systems, water filtration, and temperature control devices are examples of these new developments. The latter three examples have completely altered the way in which goldfish should be cared for. With these new technologies, even inexperienced individuals can easily keep their fish in the best possible condition and raise numerous healthy generations of them.As a result, smart technologies are gradually infiltrating this market, such as online monitoring systems for a fish's virtual owner or software that automatically detects when they contract a disease. Thus, a fish-friendly life was greatly improved. At the same time, it became more convenient for ordinary people to raise such pets.
The development of the aquaculture industry has been a significant factor in the growth of the Goldfish Market Industry. Aquaculture is a practice of farming of aquatic organisms, including goldfish, in a controlled environment. A relatively new industry has vividly promoted the production of goldfish at relatively larger scales, which has met its growing commercialization as pets and Decoratives. Moreover, the methods used in aquaculture to rear the fish have been revolutionized over the years.The advancements have been beneficial to the industry, ensuring increasing production and cost-efficient methods. In this regard, the expansion of the aquaculture industry has further promoted the growth of the goldfish market.
The type segment of the Goldfish Market is bifurcated into Fancy Goldfish, Common Goldfish, and Carassius auratus gibelio. The Fancy Goldfish segment is anticipated to be the largest emerging segment in 2023 as it is widely adopted as a home decorative fish, and to preserve their beauty, it is kept in aquariums. Toward the same, the Common Goldfish segment is estimated to hold a substantial market share during the forecast period as these fish are cheap and are able to be taken care of easily. Moreover, the Carassius Auratus Gibelio segment is expected to be the fastest growing segment in the forecast period as Carassius auratus Gibelio is being adopted in large as a food fish and is mainly used in China and other countries as a food fish.Moreover, rising disposable income, increasing demand for ornamental fish, and positive growth toward the benefits of fishkeeping are the major factors propelling the growth of the Goldfish Market in the upcoming years. Moreover, the increasing penetration of online Pet Stores is also one of the crucial reasons for boosting the Goldfish Market in the given period.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
The color segment is of the utmost importance in the Goldfish Market in terms of affecting consumer behaviors and market demands. The most popular and profitable major colors are Red, Yellow, Orange, White, Black, and Blue. Among the red goldfish, it has been noted that what makes them outstanding is their coloration, which is very vivid; thus, they have a good share of the market. When it comes to yellow gold, fish on the other side are happy and sunny, which explains why consumers love them so much. The brightest and most energetic color among goldfish is orange, a mix of yellow and red in their highest possible intensity.White g goldfish convey a sense of purity and calmness, being overwhelmingly beautiful to look at. However, they can be as bright and unique as black goldfish, being the second most popular among the customers. Black seems to be the most alluring and mysterious color, generating interest among curious customers in terms of its qualities and peculiarities.
On the other hand, blue is the most unique color in terms of being the rarest, with alliances creating a whiff of sophistication around it. Hence, the market size of Red goldfish is expected to reach USD 3.2 billion by 2026.The market for Yellow goldfish is projected to be USD 2.9 billion by 2027. By 2028, the size of the Orange goldfish market is foreseen to reach USD 2.5 billion. White goldfish will generate a market share of USD 2.2 billion by 2029. The size of the Black goldfish market will amount to USD 1.9 billion by 2030. Finally, by 2031, the lesser-known blue goldfish will have a profit of USD 1.6 billion. Overall, the color segment demonstrates the peculiarities of the Goldfish Market, with the sizes of the respective markets demonstrating the appeal of each color to the customers and industry growth.
The Goldfish Market is segmented by size into small, medium, and large. The small segment is expected to account for the largest share of the market in 2023, with a valuation of 10.2 billion USD. The medium segment is expected to grow at the highest CAGR of 4.2% during the forecast period, reaching a valuation of 6.5 billion USD by 2032. The large segment is expected to account for a valuation of 4.7 billion USD by 2032. The growth of the small segment can be attributed to the increasing popularity of small goldfish as pets, as they are easier to care for and require less space than larger goldfish.The growth of the medium segment can be attributed to the increasing demand for goldfish for ornamental purposes, as they are often used to decorate ponds and aquariums. The growth of the large segment can be attributed to the increasing demand for goldfish for food, as they are a popular source of protein in many cultures.
The Fin Type segment of the Goldfish Market is segmented into Single Tail, Double Tail, Fantail, and Veiltail. The Single Tail segment is expected to dominate the market throughout the forecast period due to its popularity as a traditional goldfish variety. The Double Tail segment is projected to witness steady growth owing to its unique appearance and popularity among hobbyists. Fantail and Veiltail segments are anticipated to gain traction due to their distinctive and visually appealing finnage. The Goldfish Market revenue for the Fin Type segment is estimated to reach $X million by 2024, expanding at a CAGR of Y% during the forecast period.This growth is attributed to the increasing demand for ornamental fish, rising disposable income, and growing awareness about the benefits of fish keeping.
The Goldfish Market segmentation by end use includes pets, aquariums, and ornamental. The pet segment is expected to hold the largest share of the market in 2023, owing to the increasing popularity of goldfish as household pets. The aquarium segment is expected to grow at a significant rate during the forecast period due to the rising demand for ornamental fish for aquariums. The ornamental segment is expected to witness a steady growth rate as goldfish are increasingly used for decorative purposes in homes and offices.
The Goldfish Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America held the largest market share in 2023 and is projected to maintain its dominance throughout the forecast period. The growth of the regional market can be attributed to the increasing popularity of goldfish as pets, as well as the growing adoption of advanced aquaculture techniques. Europe is another major region in the Goldfish Market, accounting for a significant share of the market in 2023. The European market is characterized by a high demand for goldfish in the ornamental fish trade.APAC is expected to witness the fastest growth in the Goldfish Market during the forecast period. The growth of the regional market is driven by the increasing demand for goldfish in China, Japan, and other countries in the region. South America and MEA are also expected to contribute to the growth of the Goldfish Market, although they account for a relatively smaller share of the market.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Goldfish Market competitors are constantly developing new products and undertaking market research to be able to meet the changing needs of consumers. The Goldfish Market industry is characterized by a high level of competition. As major players, one can distinguish Tetra, Hikari, Zoo Med, and San Francisco Bay Brand. The key trends in the Goldfish Market industry include the tendency to increase the popularity of natural products. Besides, customers' reliance on online sales may be considered a key industry trend. As a Goldfish Market competitor, one can mention Tetra, an aquarium products manufacturer. The target customer market for Tetra's Goldfish Market products includes both goldfish enthusiasts and new goldfish owners who need Tetra support to ensure ideal living conditions for their pets. An overview of the products that Tetra offers in the goldfish market includes food, filters, and water care products. Tetra is an established player; its products can be found in over 100 countries. As a general overview of the competitor’s product, one can mention the example of Hikari, the leading manufacturer of premium fish food in Japan. The extensive range of products the company offers Goldfish Market customers includes flake food, pellet food, and freeze-dried food. The company is also a leading international manufacturer – its products are sold in over 50 countries.
Goldfish Market Industry Developments
The Goldfish Market is expected to reach USD 21.4 billion by 2032, exhibiting a CAGR of 3.79% during the forecast period (2024-2032). Rising disposable income, increasing health consciousness, and growing demand for premium pet food products are key factors driving market growth. Asia-Pacific is the largest regional market, owing to the increasing popularity of goldfish as pets in countries like China and Japan. North America and Europe are also significant markets, driven by the presence of well-established pet care industries. Key industry participants include Tetra, Hikari, and Mazuri. Recent developments include the launch of innovative goldfish food products and the growing adoption of online pet food sales channels.
Goldfish Market Segmentation Insights
| Report Attribute/Metric | Details |
| Market Size 2022 | 14.76(USD Billion) |
| Market Size 2023 | 15.32(USD Billion) |
| Market Size 2032 | 21.4(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 3.79% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Dr. Foster Smith, Aquarium Products, Penn Plax, Dennerle, Marineland, Hikari, Pet Supplies Plus, Aqueon, Tetra, Goldfish Island, Aquarium Systems, Hobby, Intellepet, Petco Animal Supplies, Cobalt Aquatics |
| Segments Covered | Type, Color, Size, Fin Type, End Use, Regional |
| Key Market Opportunities | Growing Pet Ownership Rising Disposable Income Urbanization and Apartment Living Increasing Popularity of Aquariums Technological Advancements |
| Key Market Dynamics | Rising demand from pet owners Growing popularity of aquariums and ornamental fish keeping Increasing disposable income in emerging economies Advancements in captive breeding and selective breeding technologies Rising awareness of the benefits of goldfish |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Goldfish Market is anticipated to reach USD 15.32 billion in 2023, showcasing a promising growth trajectory.
The Goldfish Market is poised to expand at a steady CAGR of approximately 3.79% from 2024 to 2032, reflecting a gradual increase in demand for goldfish.
The Asia-Pacific region is anticipated to lead the Goldfish Market, primarily driven by countries like China, Japan, and India, where goldfish hold cultural significance and are widely kept as pets.
Goldfish are primarily kept as ornamental pets in aquariums and water gardens, adding aesthetic value and providing companionship to their owners.
Major players in the Goldfish Market include prominent names such as Ryukin Goldfish, Shubunkin Goldfish, and Fantail Goldfish, among others.
The rising popularity of goldfish as pets, increasing disposable income, and growing awareness of their aesthetic appeal as ornamental fish are key factors contributing to the expansion of the Goldfish Market.
Challenges faced by the Goldfish Market include concerns over the health and well-being of goldfish, ethical considerations, and competition from other pet options, which may impact market growth.
By 2032, the Goldfish Market is projected to reach approximately USD 21.4 billion, reflecting a steady growth trajectory over the next decade.
Key trends shaping the Goldfish Market include the growing adoption of advanced aquarium technologies, increasing focus on selective breeding, and rising interest in sustainable fishkeeping practices.
The COVID-19 pandemic had a mixed impact on the Goldfish Market. While initial lockdowns and restrictions led to a decline in demand, the subsequent rise in pet ownership during the pandemic contributed to market recovery.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.Â
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
