Ornamental Fish Market Size Is Likely To Be Valued At USD 8.6 Billion By 2025 | Grand View Research, Inc.

March 03
07:46 2021
Ornamental Fish Market Size Is Likely To Be Valued At USD 8.6 Billion By 2025  | Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
According to the report published by Grand View Research, Inc., rising adoption of the visually attractive fishes in the home décor industry, growing demands from millennials and increasing introduction of new species with attractive colors are some of the major reasons influencing the market growth in a positive manner

According to a report, “Ornamental Fish Market Size, Share & Trends Analysis Report By Product (Tropical Freshwater, Temperate, Marine), By Application (Commercial, Household), By Region, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc. The global ornamental fish market size is expected to reach USD 8.6 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.1% over the forecast period. Rising importance of ornamental fish for reducing stress and lowering blood pressure and heart rate among the millennials at the global level is expected to promote the market reach. Increasing number of nuclear families in countries including the U.S., U.K, Germany, France, and Japan is expected to prompt the buyers to spend on ornamental fishes as pets.

As per the report of “The National Pet Owners Survey”, around 68% of American households own a pet in 2018. Another survey conducted by the American Pet Products Association (APPA) states that 2.5 million U.S. households keep saltwater fish and 12.5 million keep freshwater fish. These aforementioned trends are expected to drive the market in the U.S. over the next few years.

In 2018, the tropical freshwater species generated a revenue of USD 2.6 billion, on account of their easy maintenance and easy access through local pet shops. Also, one of the major reasons for their preference is their comparatively higher lifespans. There are also several attractive colors and species providing plethora of choices to fish owners.

Europe was the largest market for ornamental fish with a revenue of USD 2.0 billion in 2018. Consumers’ preference for keeping pets at home is very high in this region. It has been observed that the population of countries including Germany, U.K., France, and Italy prefer to have aquariums as a part of their hobby. Furthermore, increasing spending by the commercial sector on keeping marine species for decoration purpose is expected to drive the market in the upcoming years.

Further key findings from the report suggest:

• Growing research and innovations in the market is expected to fuel the growth in the forecasted period. For instance, in July 2018, seven fisheries institutes of India had launched an ornamental fish culture project to develop adequate technologies in seed production, breeding, and culture of freshwater and marine species.

● Growing awareness among the people about the increasing demand for ornamental fishes is boosting ornamental aquaculture all around. For instance, in February 2021, ICAR-Central Institute of Freshwater Aquaculture, Bhubaneswar, Odisha with its commitment for the aquafarming community in the country has added inaugurated Ornamental Fish Farmer Field School at the fish farm of Sri Bhagirath Roy of Prabhu para village, Jaipaiguri, West Bengal.

● On the basis of product, tropical freshwater species led the market with a revenue of USD 2.6 billion in 2018 owing to their increased popularity and easy maintenance features. The marine products are projected to ascend at a CAGR of 9.0% from 2019 to 2025

● On the basis of applications, the household application segment generated a revenue of USD 3.6 billion in 2018. The commercial segment is expected to expand at a CAGR of 8.4% from 2019 to 2025 due to increased number of newly established hotels and restaurants at the global level

● On the basis of region, Europe was the largest regional market with a revenue of USD 2.0 billion in 2018.

● Some of the key players are Aqua Nautic Specialist (ANS), AlgaeBarn LLC, Florida Tropical Fish Direct, BioAquatix, Aqua Leisure, Imperial Tropicals, Captive Bred, Oasis Fish Farm, Sagar Fish Aquarium, and Shanghai Wanjin Ornamental Fish Farm.

“Would you Like/Try a Sample Report” Click the link below: https://www.grandviewresearch.com/industry-analysis/ornamental-fish-market/request/rs1

Ornamental Fish Market Segmentation

Grand View Research has segmented the global ornamental fish market on the basis of product, application, and region:

Ornamental Fish Product Outlook (Revenue, USD Million, 2015 – 2025)
    • Tropical Freshwater

    • Temperate

    • Marine

Ornamental Fish Application Outlook (Revenue, USD Million, 2015 – 2025)
    • Commercial
    • Household

Ornamental Fish Regional Outlook (Revenue, USD Million, 2015 – 2025)
    • North America
        • U.S.
    • Europe
        • U.K.
        • Germany
    • Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa
        • South Africa

Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/6561/ibb

Browse Related Report @

Pet Sitting Market– The global pet sitting market size was valued at USD 2.6 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 8.7% from 2020 to 2027.

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/ornamental-fish-market