Ornamental Fish Feed Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The market for ornamental fish food is undergoing a substantial growth, with a current value of $4.1 billion, and a projected value of $6.2 billion by 2032. This is a strong CAGR of 8.55% over the forecast period. The increasing popularity of aquariums and ornamental fish as pets, coupled with rising incomes and urbanization, is the main factor driving this market expansion. Also, advancements in fish feed formulas and nutritional research are increasing the quality and effectiveness of fish feed, which is thereby further stimulating demand. Cargill, Skretting, and Nutrafin are the leading companies in this market. These companies are investing in product development, with a particular focus on the development of specialized feeds that meet the dietary requirements of various species of ornamental fish. Also, these companies are establishing distribution channels and establishing long-term business relationships with aquatic farms and retailers to increase their market reach. Fish health and nutrition is becoming increasingly important to the public, which is driving the ornamental fish food market.

Regional Market Size

Regional Deep Dive

Fish feeds have been growing in various regions of the world, thanks to the increase in pet ownership, rising disposable income and the growing interest in aquaculture. In North America and Europe, the market is characterized by a strong emphasis on high-quality, specialized feeds, which meet the nutritional needs of the many different species of ornamental fish. In the Asia-Pacific region, the aquaculture industry is booming, especially in China and Japan. The ornamental fish market is also flourishing in the region. The Middle East and Africa are emerging as new markets, as a growing awareness of the importance of fish feed and fish care grows. Latin America, though still a developing market, shows potential, thanks to a growing interest in aquaculture and local fish farming initiatives.

Europe

• In Europe, there is a growing trend towards environmentally friendly and sustainable fish feed options, with companies like Tetra and Alltech focusing on reducing the ecological footprint of their products.
• The European Union's stringent regulations on aquaculture practices are pushing manufacturers to invest in research and development to create feeds that not only comply with regulations but also enhance fish health and growth.

Asia Pacific

• Cobalt Aquatics has been able to take advantage of this trend.
• Government initiatives in countries like Thailand and Indonesia are promoting aquaculture development, leading to increased investment in fish feed production and distribution networks.

Latin America

• Latin America is seeing a growing interest in ornamental fish keeping, particularly in Brazil and Mexico, where local companies are beginning to develop tailored fish feed products to cater to regional preferences.
• The rise of e-commerce platforms in the region is facilitating access to a wider range of ornamental fish feeds, allowing consumers to purchase specialized products that were previously unavailable.

North America

• The North American market is seeing a trend towards premium and organic fish feeds, with companies like Hikari Sales USA and Omega One leading the charge in providing high-quality products that meet consumer demand for sustainability and health.
• Regulatory changes in the U.S. regarding the use of certain ingredients in pet food are influencing manufacturers to innovate and reformulate their products, ensuring compliance while maintaining nutritional value.

Middle East And Africa

• In the Middle East, there is a rising interest in ornamental fish as a part of home decor, leading to increased demand for high-quality fish feeds, with local companies like Aqua Culture Middle East expanding their product lines.
• Regulatory frameworks in African countries are gradually evolving to support aquaculture, which is expected to boost the ornamental fish feed market as more farmers enter the industry.

Did You Know?

“Did you know that the ornamental fish industry is estimated to be worth over $15 billion globally, with a significant portion of that revenue coming from specialized fish feeds?” — Global Aquaculture Alliance

Segmental Market Size

Fish feeds are currently undergoing a period of strong growth, with rising consumer interest in the hobby of fish farming and the popularity of domestic aquariums. The millennial generation, in particular, has a strong interest in pet ownership, which is reflected in the growing trend towards fish feeding. Also, regulations promoting sustainable aquaculture are having an impact on the development of feeds, with the resulting innovation in the market. Fish feeds are currently in a period of strong uptake, with companies like Tetra, Hikari and Spectrum Brands leading the way in development and distribution. North America and Europe are leading the way in the uptake of feeds, with a strong focus on quality and specialized feeds. The main applications are in commercial fish farming and in the hobby of fish farming, where specialized nutrition is essential for maintaining the health of fish. The uptake is also boosted by trends such as sustainable aquaculture and the effect of the influenza pandemic, which has increased the sale of domestic aquariums. The development of the market is influenced by new technologies, such as advanced feed formulations and fish farming management software, which meet the varying needs of fish species and consumers.

Future Outlook

The ornamental fish feed market is expected to grow significantly from 2024 to 2032. The total market value will increase from 412,000 tons to 632,000 tons, a robust annual growth rate of 8.55%. It is mainly due to the rise in interest in aquaculture and the popularity of aquarium fish as pets. The number of households with aquariums will increase with urbanization. Therefore, the demand for specialized fish feeds for different species will increase. The market will grow. It is expected that by 2032, the household penetration rate of aquarium fish in developed regions will reach about 15%, and the market will grow. The development of technology and the introduction of policies are the main factors driving the development of the ornamental fish feed market. The formula of fish feed has been improved, and the use of sustainable ingredients and a variety of nutrients has been achieved, which can meet the demand for high-quality products. The development of aquaculture has also been improved, and more and more aquafeeds have been developed.In addition, the regulations on sustainable aquaculture have also made it easier for companies to invest in the development of environmentally friendly feed. The market is expected to develop rapidly in the next five years.In addition, the development of e-commerce and the influence of social media on the pet industry will also have a major impact on the market. The brand can be widely recognized and the customer's attention has been aroused. The ornamental fish feed market will grow rapidly in the future, driven by a combination of the trend of consumers, the development of technology, and the introduction of policies.