Shibuya-ku, Tokyo, Japan, Japan, Jul 01, 2022, 02:52 /Comserve / -- The report predicts the Global Ornamental Fish Feed Market to grow at a healthy CAGR Of 4.8% over the forecast period from 2022-2031.
Global Ornamental Fish Feed Market Research Report—Forecast till 2031
Market Overview
According to Market Research Future Statistics, the Global Ornamental Fish Feed Market is expected to exhibit a CAGR of 4.8% and reach USD 1,387,281.2 Thousand during the review period. Ornamental Fish Feed is used for the consumption of ornamental fish which include specific ingredients such as vegetable proteins, fishmeal, and wheat as a binding agent. The global market is attributed to the has been rapid growth in pet adoption, including fish across the globe in the past few years. The US and UK have long been the leaders in the pet industry due to the sophisticated lifestyle of people and the rising prevalence of pet adoption. Fish are incredible pets for individuals with space limits and pet sensitivities. They have appeared to create calming impacts and reduce stress among individuals who keep them. A huge number of families in the US keep aquarium fish. Thus, the preference for pet fish is increasing among the population.
The Global Ornamental Fish Feed Market is expected to register a notable pace in the pet food industry during the review period. The global market growth is driven by the increasing preference for pet fish, rising demand for commercial feed, and the construction of aquariums as décor. However, accelerating raw material prices are estimated to hinder the growth of the market. Furthermore, the increasing number of entrepreneurs venturing into the ornamental fish industry is anticipated to create profitable growth opportunities for manufacturers of ornamental fish feed during the review period.
Get The Sample PDF Report Here For More Insights: https://www.sdki.us/sample-request-115088
Market Segmentation
Global Ornamental Fish Feed Market has been classified based on Type, fish type, and distribution channel.
Based on Type, the Global Ornamental Fish Feed Market has been classified into processed feed and live feed. The processed feed segment is expected to lead the market during the review period. Based on fish type, the market is divided into tropical fishes, goldfish, koi, and others.
In terms of distribution channels, the market is bifurcated into store-based and non-store-based. The store-based segment is further divided into hypermarkets & supermarkets, specialty stores, and others.
Regional Analysis
Geographically, the Global Ornamental Fish Feed Market is classified into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Europe acquired the largest share of 34.42% for the ornamental fish feed market in 2019. The region is expected to witness a CAGR of 4.4% during the review period owing to the rising adoption of ornamental fishes as pets. Asia-Pacific is expected to register as the second largest market followed by Latin America. The region is anticipated to register the highest CAGR of 5.5% during the review period 2022 - 2031.
Prominent Players
Key Players in the Global Ornamental Fish Feed Market are Spectrum Brands, Inc. (Tetra) (US), Hikari Sales USA, Inc. (US), Ridley Corporation Limited (Australia), Northfin Fish Food (Canada), Hartz Mountain Corporation (US), Sera GmbH (Germany), Hai Feng Co. Ltd (China), San Fransico Bay Brand Inc. (US), Zoo Med Laboratories Inc. (US), Tianjin Dongjiang food co., Ltd (China), Taiyo Feed Mill Private Limited (India), Ocean Star International (OSI) (US), Kaytee (US), and Ocean Nutrition (US).
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
Download The Sample PDF Report Here: https://www.sdki.us/sample-request-115088
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
For more information, please contact:
Lauren BrownShibuya Data Count
Email: sales@sdki.jp
Tel: + 81 50 50509159
Related Links
https://www.sdki.us/