Ornamental Fish Feed Market Overview:
Ornamental fish are usually colored fish, which are kept in a confined space of an aquarium as pets. Invertebrates and mollusks are among the species of ornamental fish. Ornamental fish foods are animals or plant material intended for the consumption of ornamental fish. This food contains specific ingredients such as vegetable proteins, fishmeal and wheat as a binder.
A growing number of consumers that tend to keep fish as pets lead to an increase in the production of ornamental fish, which will have a positive impact on the growth of the ornamental fish food market. In addition, the growing presence of pet stores and online stores are also a factor of important growth in the market. For example, in India, several online pet stores such as dogspot.com and petsworld.in house different brands of fish foods such as Sera, Drools and Tetra, among others.
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Ornamental Fish Feed Market Drivers and restrictions:
Several governments are focusing on various initiatives to promote the ornamental fisheries sector, which in turn should boost the market growth. In India, for example, the Department of Livestock, Dairy Production and Fisheries launched a pilot project on ornamental fisheries in March 2017 for their development. This should create an environment conducive to market growth. In addition, the increasing availability of different types of fish foods depending on their type of species encourages customers to adopt different types of ornamental fish. All these factors contribute to the growth of the ornamental fish food market. Of the products, flakes of processed foods accounted for most of the market in terms of income. The advantage of the flakes lies in their soft texture, easier to consume for small fish. Its property of slow subsidence is another factor of intensive use in the ornamental fish food industry.
On the basis of geography, World Ornamental Fish Feed Market has been divided into various areas like Europe, North America, Asia-pacific, Latin America and Middle East & Africa. North America has been dominating the market, followed by Europe. The main companies of World Ornamental Fish Feed Market are 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.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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