Ornamental Fish Feed Market Analysis 2020-2026 | Key Findings, Regional Analysis and Forecast

Market Highlights

Global Ornamental Fish Feed Market is projected to register a CAGR of 4.8% and reach USD 1,387,281.2 Thousand by 2026. The global ornamental fish feed market is expected to register a notable growth rate during the forecast period. Rising preference for pet fish and construction of aquarium as décor are some of the major factors driving the growth of the market. Also, the rising demand for commercial feed boosts the growth of the ornamental fish feed market. Entrepreneurs venturing into the ornamental fish industry are expected to create a growth opportunity for the market in the coming years. However, fluctuating raw material prices of ornamental fish feed are restricting the growth of the market.

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Key Players

Market Research Future recognizes Spectrum Brands, Inc. (Tetra) (US), Hikari Sales USA, Inc. (US), Ridley Corporation Limited (Australia), Northfin Fish Food (Canada), Hartz Mountain Corporation (US), Sera GmbH (Germany), Hai Feng Co. Ltd (China), San Fransico Bay Brand Inc. (US), Zoo Med Laboratories Inc. (US), Tianjin Dongjiang Food Co., Ltd (China), Taiyo Feed Mill Private Limited (India), Ocean Star International (OSI) (US), Kaytee (US), and Ocean Nutrition (US) as the Key Players in the Global Ornamental Fish Feed Market.

Key Findings of the Study

The Global Ornamental Fish Feed Market is projected to register a growth rate of 4.8% from 2020 to 2026. A rising preference for pet fish is projected to propel the growth of the global market.

By fish type, the koi segment is estimated to register the highest growth rate during the forecast period.

Segmental Analysis

Global Ornamental Fish Feed Market has been segmented based on Type, Fish Type, and Distribution Channel.

On the basis of fish type, the market is categorized into tropical fishes, goldfish, koi, and others. The tropical fishes segment accounted for the lion’s share in 2019. There are two types of tropical fishes available in the market, such as freshwater tropical fish and saltwater tropical fish. Among these, freshwater tropical fishes are mostly preferred by pet fish owners. Freshwater tropical fishes have gained massive acceptance owing to economical pricing and ease of keeping in aquariums. Cory catfish, guppies, mollies, swordtails, neon tetra, and betta fish are the most popular types of freshwater tropical fishes among pet fish owners. Saltwater tropical fishes are difficult to maintain as compared to freshwater tropical fishes. Also, the saltwater tropical fishes are expensive, which is anticipated to restrict their sales.

Regional Analysis

Geographically, the Global Ornamental Fish Feed Market has been categorized as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As per MRFR analysis, Europe dominated the market, accounting for the largest share in 2019. Asia-Pacific is projected to register the highest CAGR of 5.5% during the forecast period.

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