Ornamental Fish Feed Market, By Ingredient Type, and Food Type – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025
Ornamental fish are usually colorful fish, which are kept in confined space of an aquarium as pets. Invertebrates and mollusks are some of the ornamental fish species. Ornamental fish feed is an animal or a plant material intended for consumption of ornamental fish. This feed has specific ingredients such as vegetable proteins, fishmeal and wheat as a binding agent. Increasing number of consumers are inclined towards keeping fishes as pets and this factor has to led to growth in ornamental fish production, in turn positively impacting growth of ornamental fish feed market. According to Ministry of Food Agriculture and Livestock, in Turkey, the ornamental fish production was 474.48 tons in 2015 and increased to 625.13 tons in 2016. In addition to this, growing presence of pet stores and online stores are also acting as a major growth factor in the market. For instance, in India, several online pet stores such as Dogspot.com and Petsworld.in houses different brands of fish feed such as Sera, Drools and Tetra among others.
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Various governments are focusing on various initiatives to promote ornamental fisheries sector, which is expected to in turn fuel the market growth. For instance, in India, The Department of Animal Husbandry, Dairying, and Fisheries, launched a pilot scheme Ornamental Fisheries Project, in March 2017, for ornamental fisheries development with a total investment of US$ 11.46 million. This is expected to create a conducive environment for growth of the market. Furthermore, increasing availability of different types of fish food based on their species type is further encouraging customers to adopt different types of ornamental fishes. All these factors are further supporting the market growth of ornamental fish feed.
Among the product type, processed food flakes accounted for the largest share in the market in terms of revenue. The advantage of flakes includes its soft texture, which is easier for small fishes to consume. Its slow sinking property is another factor for extensive use in the ornamental fish feed industry.
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