LAMEA Ornamental Fish Market Size, Share & Industry Trends Analysis Report By Application (Commercial and Household), By Product (Tropical Freshwater, Temperate, and Marine), By Country and Growth Forecast, 2022 - 2028
Special Offering: Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
Get in-depth analysis of the COVID-19 impact on the LAMEA Ornamental Fish Market
Market Report Description
The Latin America, Middle East and Africa Ornamental Fish Market would witness market growth of 9.8% CAGR during the forecast period (2022-2028).
The wide variety of fish, invertebrates, plants and live rock accessible to aquarium hobbyists can easily overwhelm them, leaving them forgetting about their source and method of collection. Even though many species in the hobby have been cultivated and grown on farms, it is imperative to note that many species are also sourced from the wild and are not in infinite supply.
The great majority of aquarium decorative fish is farm-raised and come from freshwater. Ornamental fish are mostly cultivated in Florida in the United States. Thailand, Indonesia, Singapore, China, Malaysia, and Japan are among the countries that have long specialized in the breeding and propagation of freshwater ornamental fish. The cultivation of ornamental fish has recently relocated to areas near consumer hubs.
Aquarium fish keeping is a growingly popular hobby that has resulted in ornamental fish being exported in over 125 countries around the world in recent years. The bulk of ornamental fish come from developing countries, most of which are in tropical and sub-tropical climates. The ornamental fish business is estimated to include approximately 2500 species, with freshwater ornamental fish accounting for 60% of the total. Marine ornamental fish account for over 15% of the ornamental fish market in terms of value, with 98 percent of these fish being wild-caught.
The ornamental sector in South Africa is still in its youth, with relatively low domestic production volumes. The local market is dependent on imported ornamental fish due to insufficient supply. The production of ornamental fish in South Africa is difficult due to climate extremes and cold winter temperatures, as well as the requirement for innovative technology, infrastructure, and industry specialists that are highly competent and informed. There are currently no recognized marine ornamental providers in South Africa, indicating a market vacuum. South Africa is now producing freshwater ornamental fish, although the supply is restricted, relying on local markets and retailers in Gauteng and KwaZulu Natal.
The Brazil market dominated the LAMEA Ornamental Fish Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $147.4 million by 2028. The Argentina market is poised to grow at a CAGR of 10.3% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 9.5% during (2022 - 2028).
Based on Application, the market is segmented into Commercial and Household. Based on Product, the market is segmented into Tropical Freshwater, Temperate, and Marine. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Ornamental Fish Market is Predict to reach $8.6 Billion by 2028, at a CAGR of 8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Aqua-Nautic Specialist Pte Ltd., AlgaeBarn, LLC, bioAquatiX, Imperial Tropicals, Oasis Fish Farm, Sanyo Aquarium (Pte) Ltd., Qian Hu Corporation Limited, Sunbeam Aquarium Pte Ltd., and Tropical Fish International Pte Ltd.
Scope of the Study
Market Segments Covered in the Report:
- Tropical Freshwater
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Aqua-Nautic Specialist Pte Ltd.
- AlgaeBarn, LLC
- Imperial Tropicals
- Oasis Fish Farm
- Sanyo Aquarium (Pte) Ltd.
- Qian Hu Corporation Limited
- Sunbeam Aquarium Pte Ltd.
- Tropical Fish International Pte Ltd.
Unique Offerings from KBV Research
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free