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The Ornamental Fish Feed Market size is forecast to increase by USD 1.00 billion, at a CAGR of 7.3% between 2023 and 2028. The market is witnessing significant growth due to the increasing interest in ornamental fisheries as a branch of animal husbandry. Advanced research and development in aquaculture feed formulations have led to the incorporation of various ingredient types, including meat and plant ingredients, to enhance the nutritional value and improve the growth rate of ornamental fish. However, the market faces challenges from the availability and popularity of live food, which some hobbyists prefer for their ornamental fish. This trend is particularly prevalent in Asian markets, where live food is deeply rooted in cultural traditions. Despite this competition, the market is expected to grow steadily due to the rising demand for high-quality, convenient, and cost-effective feed options for ornamental fish.
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The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The household segment is estimated to witness significant growth during the forecast period. The market is primarily driven by the household segment, as homeowners prioritize high-quality nutrition for their ornamental fish to maintain their health, color, and longevity. This segment caters to a diverse range of fish species, each with unique nutritional requirements.
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The household segment was valued at USD 896.60 million in 2018. In response, manufacturers offer specialized feed formulations, including flake food, pellets, granules, frozen foods, and live feed options. The live feed category, in particular, has gained popularity due to its ability to closely mimic the natural feeding habits of exotic and tropical fish, such as goldfish. Household consumers' preference for these high-quality feed options is expected to fuel market growth in the coming years.
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Europe is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The European market is characterized by a substantial consumer base, with approximately 7 million indoor tanks and 6 million households with outdoor ponds in 2023. This segment, primarily driven by households, prioritizes high-quality nutrition for their aquatic pets to ensure their health, vibrancy, and longevity. The market offers a range of feed formulations, including flake food, pellets, granules, frozen foods, and live feed options, catering to the diverse dietary requirements of tropical fishes, goldfish, and exotic species. The presence of public aquariums in countries like France and Italy further boosts market growth. Consumers value the health benefits associated with ornamental fish keeping and are willing to invest in premium feed products.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
API Fish Care - The company offers premium ornamental fish feed such as goldfish flakes. goldfish pellets, tropical flakes and others.
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Market structure |
Fragmented |
YoY growth 2023-2024 |
7.0 |
The market is witnessing significant growth due to the increasing popularity of aquariums as home decor and the rising trend of pet adoption. The demand for colorful fish, including tropical fishes and exotic species, is driving the market. Aquascaping and planted tanks are gaining traction among hobbyists, leading to an increased focus on providing proper nutrition for these fish. Mental health benefits associated with fishkeeping are also contributing to the market's growth. The market caters to both store-based and non-store-based sales. Processed feed, made from vegetable proteins, fishmeal, wheat, and plant material, dominates the market. Live feed, including invertebrates, mollusks, and other aquatic organisms, is also popular among hobbyists, especially for feeding larger and more aggressive species. The market includes a wide range of products, catering to various species, including goldfish, tropical fishes, and invertebrates. Animal feed manufacturers are focusing on innovation to meet the diverse needs of the market. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing interest in keeping ornamental fish is notably driving market growth. The market is witnessing a significant growth trend, fueled by the increasing popularity of keeping colorful fish in aquariums and ponds for both aquascaping and pet adoption. According to recent statistics, over 87 million households in the United States owned pets in 2024, with a substantial portion expressing interest in ornamental fish.
Furthermore, there were around 8 million indoor tanks and 7 million households with outdoor ponds in 2022, signifying a growing consumer base for these aquatic creatures. This expanding market for ornamental fish is driving demand for high-quality processed feed to ensure their proper nutrition and health. Mental health benefits associated with fish keeping and the hobby's good nature further contribute to the market's growth. Thus, such factors are driving the growth of the market during the forecast period.
Advancements in feed formulations are the key trend in the market. The market is witnessing significant progress in the development of specialized feed formulations for aquarium fish, including colorful species used for aquascaping and those adopted as pets. These fish have distinct dietary requirements, particularly for broodstock, which necessitates the creation of customized feeds. Traditional ingredients like fish meal and fish oil remain essential in ornamental fish feeds.
However, there is a burgeoning trend towards integrating innovative ingredients and alternative protein sources into these feeds. This shift mirrors broader aquaculture feed evolution, focusing on reducing dependence on forage fish and fostering sustainable practices. Thus, such trends will shape the growth of the market during the forecast period.
Competition from live feed is the major challenge that affects the growth of the market. The market caters to the nutritional requirements of colorful fish inhabiting aquariums and planted tanks. The market's growth is driven by the increasing trend of pet adoption and the positive impact of aquascaping on mental health. Processed feed plays a significant role in ensuring the proper growth and development of these aquatic creatures. However, the market faces competition from live feed, particularly copepods.
Copepods, a rich source of essential nutrients, are increasingly used in marine ornamental fish aquaculture and the ornamental trade industry due to their compatibility with various fish species' gape sizes. Their high-quality nutritional profile makes them an attractive alternative to other live feeds, contributing to the industry's expansion. The evolving aquaculture of marine ornamental fish species necessitates further advancements in live feed production to meet the industry's demands. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
The market is a significant segment of the animal feed industry, catering to the nutritional needs of various species of ornamental fish kept in aquariums. The market is driven by the increasing popularity of aquariums as home decor and the growing trend of pet adoption, particularly of colorful tropical fishes. The ornamental fish feed comes in various forms, including processed feed and live feed, with the former consisting of flakes, granules, pellets, frozen dried food, and plant material, while the latter includes invertebrates, mollusks, and other live organisms. The market can be segmented into store-based and non-store-based sales channels, with pet stores and online stores being the major distributors. The Ornamental Fish Feed Market has witnessed significant growth in recent years, driven by the increasing popularity of exotic fish in the aquarium hobby and the pet care industry. This market caters to the unique nutritional needs of various species of aquarium fish, offering a wide range of feed options.
Two primary ingredient types dominate the Ornamental Fish Feed Market: meat and plant. Meat ingredients, such as fish meal and shrimp meal, provide essential proteins and amino acids for the growth and development of fish. Plant ingredients, like soybean meal and corn, contribute to carbohydrates, fiber, and vitamins. Processed fish food, a significant segment of the Ornamental Fish Feed Market, offers convenience and balanced nutrition. These foods undergo various processes, including extrusion and pelleting, to ensure optimal nutrient availability and easy feeding. The Aquarium Fish Trade relies heavily on the Ornamental Fish Feed Market to supply high-quality feed to maintain the health and vibrancy of exotic fish. Pet supply stores and online retailers stock a diverse range of fish food products, catering to the specific needs of different fish species. In conclusion, the Ornamental Fish Feed Market plays a crucial role in the pet care industry, ensuring the proper nutrition and well-being of exotic fish. With a focus on ingredient types, including meat and plant, and the production of processed fish food, this market continues to evolve and meet the growing demands of the aquarium hobby.
Ornamental fish feed plays a crucial role in maintaining the health of ornamental fish, providing essential nutrients and contributing to their vibrant colors. The market is expected to grow due to the health benefits of keeping ornamental fish for mental health and the increasing demand for exotic species. The use of animal husbandry techniques and real-time monitoring systems in ornamental fisheries further enhances the market's growth prospects. Ingredient types used in ornamental fish feed include meat ingredients, such as fishmeal and vegetable proteins, like wheat, to ensure optimal growth and development.
Market Scope |
|
Report Coverage |
Details |
Page number |
204 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.3% |
Market Growth 2024-2028 |
USD 1.00 billion |
Regional analysis |
Europe, APAC, North America, South America, and Middle East and Africa |
Performing market contribution |
Europe at 43% |
Key countries |
US, China, Germany, UK, France, Japan, Singapore, Italy, The Netherlands, and Belgium |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AlgaSpring, Alltech Inc., API Fish Care, Growel Feeds Pvt. Ltd., HAI FENG FEEDS CO., Ltd, Kaytee products Inc, KYORIN CO., LTD, Northfin Fish Food, Ocean Nutrition, Ocean Star International, Inc, Pisces Pros, Porpoise Aquarium Co.,Ltd, Raanan Fish Feed, Ridley Corp. Ltd., San Francisco Bay Brand, Inc, sera GmbH, Sona Gold AgroChem Pvt Ltd, Spectrum Brands Holdings Inc., Taiyo Group, and Zoo Med Laboratories Inc. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, AI impact on market trends, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the market forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by End-user
9 Market Segmentation by Distribution Channel
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
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