Ornamental Fish Feed Market

• The growing desire for colorful aquarium ornamental fish among millennials is driving the market growth

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 Global Ornamental Fish Feed Market Industry benefits from the rising trend of pet ownership, particularly among urban populations. As more households adopt ornamental fish as pets, the demand for quality fish feed increases. This phenomenon is not limited to any specific region, as urbanization and lifestyle changes contribute to a broader acceptance of fish as pets. The market is expected to reach 7.96 USD Billion by 2035, reflecting the growing consumer willingness to invest in premium fish feed products that enhance the health and aesthetics of their aquatic companions.

The Global Ornamental Fish Feed Market Industry is projected to experience substantial growth over the next decade. With an anticipated market value of 4.12 USD Billion in 2024, the industry is set to expand significantly, reaching 7.96 USD Billion by 2035. This growth trajectory suggests a robust demand for ornamental fish feed, driven by various factors including increased pet ownership, advancements in feed technology, and heightened awareness of fish nutrition. The expected CAGR of 6.16% from 2025 to 2035 indicates a promising outlook for stakeholders in the ornamental fish feed market.

The Global Ornamental Fish Feed Market Industry experiences growth driven by the increasing adoption of aquaculture practices. As more individuals and businesses engage in fish farming, the demand for specialized feeds rises. This trend is particularly evident in regions where aquaculture is becoming a significant source of income. For instance, countries in Southeast Asia are expanding their aquaculture sectors, leading to a projected market value of 4.12 USD Billion in 2024. The need for high-quality ornamental fish feed to support healthy growth and vibrant coloration in fish is paramount, thereby enhancing the market's potential.

The Global Ornamental Fish Feed Market Industry is influenced by a growing awareness of the importance of fish nutrition among hobbyists and aquarists. As consumers become more educated about the dietary needs of ornamental fish, they increasingly seek high-quality feeds that promote optimal health and coloration. This shift in consumer behavior drives demand for specialized products, leading to a more competitive market landscape. Retailers and manufacturers are responding by offering a diverse range of feeds tailored to specific species, thereby enhancing market dynamics and fostering growth.

Sustainability is becoming a crucial factor in the Global Ornamental Fish Feed Market Industry, as consumers increasingly prefer feeds made from environmentally friendly ingredients. The shift towards sustainable sourcing of raw materials, such as plant-based proteins and responsibly harvested fishmeal, reflects broader environmental concerns. This trend not only appeals to eco-conscious consumers but also aligns with regulatory pressures for sustainable practices in aquaculture. As the market evolves, companies that prioritize sustainability in their product offerings are likely to gain a competitive edge, further driving growth in this sector.

Innovations in feed production technology significantly impact the Global Ornamental Fish Feed Market Industry. Advances in formulation techniques, such as the incorporation of probiotics and nutraceuticals, enhance feed efficiency and fish health. These developments allow manufacturers to produce specialized feeds that cater to the nutritional needs of various ornamental fish species. As a result, the market is poised for growth, with a projected CAGR of 6.16% from 2025 to 2035. This technological evolution not only improves feed quality but also aligns with consumer preferences for sustainable and health-oriented products.

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, Market Research Future 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.