Ornamental Fish Feed MarketSize and Trends
Ornamental Fish Feed - Market Outlook
- Europe accounted for the largest ornamental fish feed market followed by North America in 2016. This is attributed to growing interest of consumers in aquarium fishes in the region. According to Pet Food Manufacturers Association (PFMA), the indoor and outdoor pet fish population was 16 million and 20 million, respectively in 2016 contributing 14% of pet population in the U.K. The U.S. is the single largest importer for ornamental fish in North America, however, Europe is considered as three times bigger than U.S, according to the U.S. Ornamental Fish Association.
- Asia Pacific is expected to exhibit significant growth in the global ornamental fish feed market over the forecast period. This is due to growth of ornamental fish trading in this region. For instance, according to Food and Agriculture Organization, the total value of the aquarium fish trade increases US$ 1 billion per year; and over 50% of the global ornamental fish supply was provided by Asia Pacific region in 2014. In India, most of the cultured and marketed ornamental fish are exotic species. However, stringent regulations on selling ornamental fishes is negatively impacting the market growth. For instance, in June 2017, the Ministry of Forest and Environment, Government of India, banned the sale and display of 158 species of ornamental fish, to protect the animals from cruelty.
- Key players in the market are focusing on inorganic growth strategies such as merger and acquisitions to sustain their market positions. For instance, in 2016, Alltech Inc.— one of the leading players in natural animal nutrition and health products — acquired Coppens International, to enhance the company’s product range by integrating Alltech Inc., protein and microalgae platforms.
- Some of the major market players operating in the global ornamental fish feed market include Alltech Inc., Ocean Star International, Inc., Cargill Incorporated., Hai Feng Feeds Co., Ltd., Taiyo Group, Sera GmbH, AlgaSpring B.V., PT Central Proteina Prima Tbk, and Tianjin Dongjiang food co., LTD.
