Ornamental Fish Feed Market Size was valued at USD 3.19 Billion in 2023. The Ornamental Fish Feed market industry is projected to grow from USD 4.12 Billion in 2024 to USD 6.22 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.55 % during the forecast period (2024 - 2032). The developing developments in aquariums with cutting-edge designs and millennials' growing thirst for colourful aquarium ornamental fish, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
It is projected that millennials' increased desire for colourful aquarium ornamental fish as a component of a luxurious lifestyle will continue to be a key driver of market growth. As consumers look for accent showpieces to highlight in a room, emerging advancements in aquariums with cutting-edge designs are assisting industry progress. Aquascaping and planted tanks are two other fads that have been around for a while but are still gaining popularity. The industry producing feed for ornamental fish was severely impacted by the COVID-19 outbreak. According to a survey by the American Pet Products Association, Americans may have adopted more pets as the pandemic spread since they had more free time owing to lockdowns. This rise in pet adoption, including that of ornamental fish, is probably favourable to market expansion.
Similarly, since the start of the COVID-19 pandemic, about 3.2 million families in the United Kingdom have added a pet. Over 59% of new pet owners are between the ages of 16 and 34, and over 56% of new pet owners have children living at home. Most pet owners said that their companion animals helped them deal with their mental health issues throughout the pandemic. The rise of pet adoption is primarily driven by millennials and Gen-Z. The local and international commerce in ornamental fish has grown and diversified significantly during the past few years. Leading importers are increasing their demand, which is a major factor in the market's expansion. Additionally, home hobbyists and public aquariums have recently showed a greater interest in keeping marine ornamentals. As a result, there has been a significant improvement in the trade in ornamental fish feed. Additionally, home hobbyists, followed by public aquariums and research facilities, make up the majority of the market. Over 50% of suppliers are based in Asian nations, according to data released by TrendEconomy in November 2021.
The numerous benefits that consumers receive from purchasing ornamental fish feed also contribute to their high demand. Stress and anxiety are reduced, heart rates are stabilised, and moods are improved, among other health advantages. Alzheimer's patients who have aquariums report fewer symptoms. The advantages of watching fish in an aquarium have been the subject of numerous studies. Additionally, people with high blood pressure can benefit from having a fish tank in their house. Additionally, gazing at a fish tank lowers anxiety and melancholy. The desire to adopt pets has increased as a result of recent technological advancements in the pet care industry, such as pet cameras and automatic filters. It is now simpler than ever to grow and maintain a healthy aquarium at home thanks to modern technology. For many years, maintaining the water chemistry in aquariums has been a constant issue. To control the perfect conditions, new in-tank equipment can now provide real-time monitoring for everything, from pH levels to water hardness. Thus, driving the Ornamental Fish Feed market revenue.
The Ornamental Fish Feed market segmentation, based on Type, includes Processed Feed and Live Feed. Processed feed segment dominated the market in 2022. This is explained by ornamental fishes' rising appetite for processed diet.
The Ornamental Fish Feed market segmentation, based on Fish Type, includes Tropical Fishes, Goldfish, Koi, and Others. Tropical fishes segment dominated the market in 2022. New pet owners like keeping tropical freshwater ornamental fish because they are simple to care for and come in a variety of colours.
The Ornamental Fish Feed market segmentation, based on Distribution Channel, includes Store-Based and Non-Store-Based. Store-based segment dominated the Ornamental Fish Feed market in 2022. This can be due to consumers' growing preference for ornamental fish feed distributed through retail outlets.
Figure 1: Ornamental Fish Feed Market, by Distribution Channel, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Ornamental Fish Feed Market dominated this market in 2022 (45.80%). Opportunities for business expansion exist since elite North Americans prize rare exotic fish as a status symbol. Further, the U.S. Ornamental Fish Feed market held the largest market share, and the Canada Ornamental Fish Feed market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: ORNAMENTAL FISH FEED MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Ornamental Fish Feed market accounted for the healthy market share in 2022. This is a result of the extensive importation of ornamental fish from Asian nations like Singapore, Thailand, and Japan to satisfy the region's enormous demand for ornamental fish. Ornamental fishes also contribute to import and export activities, as well as foreign exchange, because keeping fish is a simple and stress-relieving hobby. Further, the German Ornamental Fish Feed market held the largest market share, and the U.K Ornamental Fish Feed market was the fastest growing market in the European region
The Asia Pacific Ornamental Fish Feed market is expected to register significant growth from 2023 to 2032. One of the most significant markets for ornamental fish in the world evolved in the area headed by China, Japan, and India. It is possible to attribute the rising demand for high-end and exotic ornamental fish to the growth of the local market. Moreover, China’s Ornamental Fish Feed market held the largest market share and the Indian Ornamental Fish Feed market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Ornamental Fish Feed market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Ornamental Fish Feed industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Ornamental Fish Feed industry to benefit clients and increase the market sector. In recent years, the Ornamental Fish Feed industry has offered some of the most significant advantages to medicine. Major players in the Ornamental Fish Feed market, including Spectrum Brands, Inc. (Tetra), Hikari Sales USA, Inc., Ridley Corporation Limited, Northfin Fish Food, Hartz Mountain Corporation, Sera GmbH, Hai Feng Co. Ltd, San Fransico Bay Brand Inc., Zoo Med Laboratories Inc., Tianjin Dongjiang food co., Ltd, Taiyo Feed Mill Private Limited, Ocean Star International (OSI), Kaytee, and Ocean Nutrition, are attempting to increase market demand by investing in research and development Types.
In Singapore, Qian Hu Corp Ltd is a full-service provider of ornamental fish. The company operates in the Fish, Accessories, Plastics, and other divisions. The Accessories section is where the corporation makes the most money. The production and distribution of aquarium and pet accessories are part of its Accessories sector. Fish farming, breeding, distribution, and trading of edible and ornamental fish and seafood are all included in the fish section. Plastic bag production and distribution are part of the Plastics sector. A contract was made between Qian Hu Corporation Limited and AquaEasy Pte Ltd. in December 2021 to help prawn farmers follow sustainable aquaculture practises, boost production and profit while minimising risks and costs. The sensors, software, and services offered by AquaEasy are combined using data analysis tools.
Since 1970, Mike Drawdy has run Imperial Tropicals in Lakeland, Florida, one of the state's premier tropical fish farms. The business specialises in breeding premium tropical fish, such as different community fish, American and African Cichlids, crustaceans, and others. Millions of people live on the company's 20-acre farm, which is home to hundreds of breeding vats, over a hundred ponds, and many sizable greenhouses. Imperial Tropicals joined forces with the Japanese fish food company Hikari in November 2021. All varieties of fish, whether farmed or taken in the wild, can use this brand of feed. In order to protect the health of their fish, this cooperation enabled the customers become familiar with the brand of fish food.
Key Companies in the Ornamental Fish Feed market include
Ornamental Fish Feed Industry Developments
January 2018: Incorporated Cargill developed a fish feed facility in India. In India, this is the country's first fish-specific feed mill. This new facility can produce 90,000 tonnes of fish feed annually, which is estimated to treble Cargill's fish feed production capacity in India.
July 2019: Sera GmbH introduced their all-natural component tablet food and raising food for ornamental fish. Plankton Tabs Nature, Spirulina Tabs Nature, O-Nip Nature, Viformo Nature, and Micron Nature are among the items in this product line. These goods don't contain any colours or preservatives but do contain pirulina, krill, gammarus, etc.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 3.19 Billion |
| Market Size 2024 | USD 4.12 Billion |
| Market Size 2032 | USD 6.22 Billion |
| Compound Annual Growth Rate (CAGR) | 8.55% (2024-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Fish Type, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Spectrum Brands, Inc. (Tetra), Hikari Sales USA, Inc., Ridley Corporation Limited, Northfin Fish Food, Hartz Mountain Corporation, Sera GmbH, Hai Feng Co. Ltd, San Fransico Bay Brand Inc., Zoo Med Laboratories Inc., Tianjin Dongjiang food co., Ltd, Taiyo Feed Mill Private Limited, Ocean Star International (OSI), Kaytee, and Ocean Nutrition |
| Key Market Opportunities | ·        Rising number of entrepreneurs venturing in the ornamental fish industry |
| Key Market Dynamics | ·        The growing desire for colorful aquarium ornamental fish among millennials and rising innovations in aquariums with advanced designs |
Frequently Asked Questions (FAQ) :
The Ornamental Fish Feed market size was valued at USD 2.98 Billion in 2022.
The market is projected to grow at a CAGR of 8.55% during the forecast period, 2024-2032.
North America had the largest share in the market
The key players in the market are Spectrum Brands, Inc. (Tetra), Hikari Sales USA, Inc., Ridley Corporation Limited, Northfin Fish Food, Hartz Mountain Corporation, Sera GmbH, Hai Feng Co. Ltd, San Fransico Bay Brand Inc., Zoo Med Laboratories Inc., Tianjin Dongjiang food co., Ltd, Taiyo Feed Mill Private Limited, Ocean Star International (OSI), Kaytee, and Ocean Nutrition
The Processed Feed Type dominated the market in 2022.
The Tropical Fishes Fish Type had the largest share in the market.
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