Global Ornamental Fish Feed Market showed crucial growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ xx.xx over the forecast period. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 6.1% during the forecast period that is 2017-2025.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

Ornamental Fishes appear like living jewels owing to its attractive physical characteristics. Due to their mesmerizing appearance, they are usually kept as pets in confined aquatic systems. The most popular ornamental fish is goldfish. Ornamental fish feed could include animal or plant-based feed, which depend upon their food preference, such as herbivores or carnivores. The ornamental fish feed market is expected to attain a significant growth over the projected period owing to rising demand of ornamental fishes coupled with growing online stores across the globe.

Market Dynamics

Ornamental fish feed market is majorly driven by the rising consumer demand for various ornamental fishes such as gold fish as pets globally. Therefore, rising demand is encouraging the farming of various ornamental fishes, thus, nudging the demand for fish feed in the global market. Due to the increasing demand for ornamental fishes, the export of various ornamental fishes from the tropical and subtropical regions of the world has been increased. For instance, in 2016 approximately, 69.3 tons of ornamental fishes were exported from India across the globe.

Stringent norms and regulations by numerous government organizations regarding the sale of various these fishes might deter the growth of the ornamental fish feed market. For instance, to lower down the cruelty on the animals, the Ministry of forest and Environment have restricted the sale of 158 species of ornamental fishes in India since 2017.

By Ingredient Insights: Plant ingredients segment is anticipated to have the prime share in the global market, particularly spirulina which is easily digestible and healthier than other plant-based feed ingredients. It is beneficial for the herbivore ornamental fishes and also to carnivore fishes. As these ingredients are high in minerals and vitamins, they have the capability to reduce the need of feeding them with synthetic vitamins.

By Product Insights: Processed food is perceived to grow significantly in the global market, particularly flake which is easily available in the market. These flakes have soft texture and are easily digestible and consumable for the fish in the aquarium. These food does not sink faster in the aquarium, allowing the fish to consume at various levels in the aquarium.

By Application Analysis: Goldfish is the most preferable type of ornamental fish kept as a pet by the hobbyist. Attributed to its various advantageous properties such as low cost of maintenance, they also have flexible eating habits. Furthermore, goldfish are easily available, accessible and are one of the cheapest types of ornamental fish available across the globe. These fish largely consume processed foods such as pellets and flake, which would provide a significant growth to the global market.

Regional Analysis

The global ornamental fish feed market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players.  Europe is anticipated to hold a prime position in the global market owing to the rising outdoor and indoor pet fish population. In 2016, indoor and outdoor pet fish population in the U.K. accounted for nearly 16.0 million and 20.0 million respectively, contributing about 14% of overall pet population, as per Pet Food Manufacturer Association.

Global Ornamental Fish Feed Market Size, Share Analysis By Region 2017

Asia Pacific is anticipated to be the fastest growing region in the ornamental fish feed market. The growth is primarily attributed by the rise in exports of the ornamental fishes across the globe. Moreover, the ornamental fish trade market was valued at US$ 1.0 billion in 2014 in the Asia Pacific region, particularly India, which contributed approximately 1% of the total ornamental fish trade in 2014. The rise in trade activities of ornamental fish would therefore, increase the demand for the ornamental fish feed such as live food, processed food, and frozen food, etc. thereby, anticipating to have the prominent share in the global market.

Global Ornamental Fish Feed Market Study Objective

1. To forecast the market size of ornamental fish feed market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

2. Market analysis and forecast of ornamental fish feed market on the basis of region, substrate and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

3. To analyze and elaborate significant factors that will have major impact on the growth of ornamental fish feed market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of ornamental fish feed market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the ornamental fish feed market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

Key Players Landscape

Key players in the ornamental fish feed market comprises of Ocean Star International, Inc., Hai Feng feeds Co. Ltd., Alltech Inc., Taiyo Group., AlgaSpring B.V., Tianjing Dongjiang Food Co., LTD and several others. Numerous companies are adopting the sustainable strategy to hold the position in the competitive market such as mergers and acquisitions. For instance, Netherland-based Coppens International is acquired by Alltech in 2016. Coppens was expert in the production of tropical marine, temperate and freshwater diets for the numerous types of spices.

Global Ornamental Fish Feed Market Study Report Offer You!

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