growing at a CAGR of over 10% through 2025. Anticipated growth in the market can be attributed to changing lifestyle and growing preference of millennials in keeping aquarium as home décor item. With increasing disposable income, consumers are willing to spend on colorful attractive fishes to be kept in their home aquarium.
New York, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Ornamental Fish Market, By Type, By Application, By Point of Sale, By Region, Competition, Forecast & Opportunities, 2025" - https://www.reportlinker.com/p05917026/?utm_source=GNW
Further, various scientific studies reveal that the use of ornamental fishes in household aquariums provides psychological advantages to the house members and hence the market is witnessing an increasing demand for ornamental fishes. Aquariums are also said to help in reducing stress and provide calm effect on the members of the house.
The inclination towards luxury lifestyle is also aiding the growth of ornamental fish market.The consumers are preferring buying colorful species of these ornamental fishes as their pet.
Also, increasing prohibitions on keeping pets such as dogs and cats in high rise apartments is expected to fuel the demand for ornamental fishes in the coming years. The introduction and breeding of exotic species and growing interest in fish keeping are also some other driving factors for ornamental fishes’ market growth.
The global ornamental fish market is segmented based on type, application, point of sale and region.Based on type, the market is segmented into tropical fresh water, temperate fresh water and marine ornamentals.
The tropical freshwater fish species dominated the global market in 2019 with share of 58.27% and the segment is expected to undergo the highest growth during the forecast period as they are easy to take care of and come in various attractive colors. Also, new beginner aquarium owners prefer to keep tropical freshwater fishes owing to its convenience.
Based on application, the global ornamental fish market is segmented into residential and commercial.The residential segment currently dominates the global market as large number of urban populations prefer to keep pets in their home.
However, the commercial segment is expected to undergo the highest growth by 2025 owing to the increasing adoption aquariums as attractive decoration item at hotels, restaurants and shopping malls and complexes.
The major players operating in the global ornamental fish market are Aqua Nautic Specialist (ANS) Pte Ltd, Tropical Fish International Pte Ltd, Sunbean Aquarium Pte Ltd, Sanyo Aquarium (Pte) Ltd, Qian Hu Fish Farm Trading, AlgaeBarn LLC, BioAquatix.com, Imperial Tropicals, Inc., Oasis Fish Farm Co., and Sagar Fish Aquarium. The market is highly competitive with presence of both small and large companies. Leading companies are investing in ornamental fish farming to increase their market share and revenue.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
• To analyze and estimate the market size of global ornamental fish market from 2015 to 2018.
• To estimate and forecast the market size of global ornamental fish market from 2019 to 2025 and growth rate until 2025.
• To classify and forecast global ornamental fish market based on type, application, point of sale, company and regional distribution.
• To identify dominant region or segment in the global ornamental fish market.
• To identify drivers and challenges for global ornamental fish market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global ornamental fish market.
• To conduct pricing analysis for global ornamental fish market.
• To identify and analyze the profile of leading players operating in global ornamental fish market.
• To identify key sustainable strategies adopted by market players in global ornamental fish market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of ornamental fish across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the ornamental fish companies who could not be identified due to the limitations of secondary research. The analyst examined the raw material used in farming of ornamental fishes, distribution channels and presence of all major players across the globe.
The analyst calculated the market size of global ornamental fish market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Ornamental fish companies/ suppliers/ distributors
• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to ornamental fish
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as ornamental fish companies, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global ornamental fish market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Global Ornamental Fish Market, By Type:
o Tropical Fresh Water
o Temperate Fresh Water
o Marine Ornamentals
• Global Ornamental Fish Market, By Application:
• Global Ornamental Fish Market, By Point of Sale:
o Dedicated Stores
o Multi-Specialty Stores
• Global Ornamental fish Market, By Region:
o North America
o Middle East & Africa
o South America
Company Profiles: Detailed analysis of the major companies present in global ornamental fish market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.
Read the full report: https://www.reportlinker.com/p05917026/?utm_source=GNW
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