Panorama of the aquarium industry in 2024: changes and new opportunities

This article is based on the speech given by Shane Willis (current president of Ornamental Fish International) at the 28th Great Wall Pet Show Aquarium Industry Conference. It combines the latest data and trend analysis of the global ornamental fish industry to provide forward-looking insights for aquarium business owners.

In recent years, the aquarium industry has experienced tremendous changes in global supply chains, production methods, and market demand. As an aquarium company, understanding these changes will help you find new opportunities and optimize your business model in the coming years.

Major changes in the global supply chain
Global ornamental fish trade: Currently, more than 15 billion fish are traded worldwide each year, and about 90% of freshwater fish are artificially bred.

Popular species and market trends: diversified demand
There are more than 5,300 freshwater fish and 2,300 marine fish species used in the aquarium market worldwide, but only about 250 freshwater fish and 200 marine fish are truly popular. Among them, tropical freshwater fish account for 50% of the market, cold water freshwater fish account for about 40%, and marine fish account for about 10%, but this proportion is gradually increasing.

Trend tips:

Small aquariums and micro fish are becoming more and more popular, especially in urban families with limited space.

Invertebrate and water plant tank designs have become new market hotspots, especially for young consumers and beginners.

International trade status: exporter and importer pattern

Data shows that Indonesia is the largest exporter of marine ornamental fish, accounting for 26% of the global market, while the United States is the largest importer, accounting for 24% of the market share.

Production Challenges: Sustainability and Biosafety Are Key
Due to high startup costs and reduced profits, many new generations are not interested in entering the aquaculture industry. To address these challenges, aquaculture is moving towards intensification, and technologies such as Recirculating Aquaculture System (RAS) are being applied to more countries and regions to improve production efficiency and biosafety.