Ornamental Fish Market Size, Share, Growth Analysis, By Product(Tropical Freshwater, Temperate, Marine), By Application(Commercial, Household), By Region - Industry Forecast 2024-2031

Ornamental Fish Market size was valued at USD 5.42 billion in 2019 and is poised to grow from USD 5.88 billion in 2023 to USD 11.68 billion by 2031, growing at a CAGR of 8.5% in the forecast period (2024-2031).

Business expansion is anticipated to be fueled by the millennial generation's growing preference for decorative aquarium fish with vibrant colours as part of a high-end lifestyle. The numerous advantages that ornamental fish offer consumers also contribute to their high demand. It has been demonstrated, for instance, that keeping peaceful, aesthetically pleasing fish as pets in small aquariums, such as Betta Fish (Siamese Fighting Fish), Goldfish, Guppy, and Cory Catfish, can have a variety of psychological advantages for customers of all ages.

The advantages include—but are not limited to—lessening stress following a busy workday. It is well known that watching ornamental aquatic species float serenely through the water can calm and relax people. Due to their alluring features and distinctive traits, it has been found that many young consumers are more likely to purchase attractive fish species primarily for decorative purposes. In turn, this has helped the market for ornamental fish grow exponentially. Additionally, the most recent technological developments in the field, such as pet cameras and automatic filters, have increased consumer demand for pet adoption. Aquariums with decorative fish are becoming resources for mental and emotional growth. While the design of an aquarium may be enjoyable and interesting, the effects of having such a close relationship with nature go much deeper than one might think. Furthermore, the evidence presented above demonstrates that direct physical contact with nature fosters intellectual or cognitive development. In other words, people's ability to form ideas and solve problems is improved when they observe and engage with an aquarium. The use of home fish aquariums as a powerful educational tool extends beyond emotional development.

US Ornamental Fish Market is poised to grow at a sustainable CAGR for the next forecast year.