Ornamental Fish Market to Surpass 11.68 Billion by 2030 Drives Due to the Increasing Demand for Colorful Aquarium Ornamental Fish

SkyQuest projects that the ornamental fish market will attain a USD 11.68 billion value by 2030, with a CAGR of 8.5% over the forecast period (2023-2030). The increasing demand for colorful aquarium ornamental fish, particularly among millennials, is expected to be a significant catalyst for the ornamental fish market. Aquariums have become desirable accent centerpieces as consumers seek to enhance their living spaces.

Westford, USA, July 12, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, "ornamental fish" refers to visually appealing and vibrant fish that exhibit various attractive characteristics. These fish are often the result of crossbreeding techniques employed to create new varieties with unique and captivating colors. The growing popularity of aquariums, driven by improved living standards and an increased focus on leisure activities, has significantly propelled the global ornamental fish market.

*Browse in-depth TOC on the "Ornamental Fish Market" *

· Pages - 242
· Tables -  62
· Figures –75

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Organizations that rely on wild collection for sourcing animals, particularly in the ornamental fish market, have become increasingly aware of the importance of sustainable practices. They recognize the need to protect the biodiversity of the areas where these animals are sourced. This shift is driven by the growing consumer demand for animals that have been sustainably sourced without causing harm to the ecosystem.

*Prominent Players in Ornamental Fish Market*

· Guangzhou Fischer Chemical Co., Ltd.
· Liuji Aquatic Products Co., Ltd.
· Coral Sea Fish Co., Ltd.
· Atabey Aquatic Inc.
· Blue Ridge Fish Hatchery
· Qian Hu Corporation Limited
· Florida Tropical Fish Direct
· Sea Dwelling Creatures, Inc.
· Quality Marine
· Blue Zoo Aquatics
· Fincasters
· Segrest Farms
· Aquatropic
· Imperial Tropicals
· Cebu Tropical Reef Life Aquarium, Inc.
· Tropical Fish International
· Aqua Leisure International
· Koi Acres
· Zoological Imports
· OATA (Ornamental Aquatic Trade Association)

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*Commercial Segment is Expected to Grow the Market Due to the Rising Expansion of Ornamental Marine Livestock Farming*

The commercial segment of the ornamental fish market is poised for remarkable growth, with a projected CAGR of 8.8%. Several factors primarily fuel this growth, including the expansion of ornamental marine livestock farming in key regions such as the Caribbean, North America, and Southeast Asia.

The markets in the Europe emerged as the dominant region for ornamental fish market, holding a significant share of over 38.7%. This strong market presence can be attributed to the region's substantial imports of ornamental fish from Asian countries, including Singapore, Thailand, and Japan. These Asian countries are renowned for their diverse range of decorative fish species, which provide to the extensive demand for ornamental fish in Europe.

*Marine Ornamental Fish Segment is Expected to Dominate the Market Due to the Specific Equipment and Water Requirements*

The marine ornamental fish segment is expected to experience significant growth, with a projected CAGR of 9.5% from 2023 to 2030. Marine ornamental fish are renowned for their vibrant colors, intricate patterns, and unique body shapes, making them highly desirable by aquarium enthusiasts.

Regional markets in the Asia Pacific are anticipated to exhibit the fastest CAGR of approximately 9.6% over the forecast period. This region has emerged as one of the most significant markets for ornamental fish market worldwide led by countries such as China, Japan, and India.

A comprehensive analysis of the major players in the ornamental fish market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.

*Key Developments in the Ornamental Fish Market*

· Cooke, a prominent seafood company, recently made a significant acquisition by purchasing Morubel, a Belgian shrimp processor, from Bencis. Morubel, renowned for its market-leading organic and frozen shrimp products, has an extensive European distribution network. Its customer base spans various sectors, including retail, food service, and the food industry, in countries such as Spain, Portugal, Germany, Belgium, the Netherlands, Luxembourg, Italy, and France.
· Nano Aquaria recently revealed its plans to support and empower women entrepreneurs, specifically focusing on increasing their household income. Nano Aquaria, a company operating in the aquaculture industry, recognizes the potential of women entrepreneurs in driving economic growth and fostering sustainable development.

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* Key Questions Answered in Ornamental Fish Market Report*

· What specific growth drivers are projected to impact the market during the forecast period?
· List the top companies in the market and explain how they have achieved their positions of influence.
· In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?

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