News Market Set For Global Growth

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Market set for global growth
17th May 2021

By Justine Thompson

The worldwide ornamental fish market was valued US $6,800m in 2019 and is forecast to reach $11,336.47m by 2025, according to a new report.
 
ResearchAndMarkets.com says anticipated compound growth of 10% through to 2025 can be attributed to changing lifestyle and the growing preference of ‘millennials’, with increasing disposable income, to keep aquariums as ‘home décor’.

Plus, 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. Aquariums are also said to help in reducing stress.

The report suggests that increasing prohibitions on keeping pets such as dogs and cats in high-rise apartments around the world is expected to fuel demand for ornamental fish in the coming years.  The Global Ornamental Fish Market is segmented in the report based on type, application, point of sale and region.