May 20, 2019 by Steve Blade
Outpacing the rise in aquarium centers across the globe has led the demand for new breeds of fishes, driving the sales of fish breeding tank market. Booming ornamental fish trade industry has pushed the fish breeding tank market positively. Shifting preference of export from traditional markets to new markets is the latest trend that has been noticed over the years, providing high demand for fish which led to fuel the Fish Breeding Tank Market. Hybridization of fish is a common trend for discovering new species and allowing the fish breeding tank sales to grow.
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Fish breeding tank is an entity which has been gaining popularity for the past many years for fish breeding. Turning of having a pet fish as a hobby into an aquarium fish selling business has created growth opportunity in fish breeding tank market. Outpacing growth in the aquaculture industry and owning a freshwater fish in households has gained traction for the fish breeding tank market. Fish breeding tank allows maximum efficiency for the safety of the eggs or fry. Rise in consumer sentiments regarding keeping fish as a pet has surged the fish breeding tank market. More than 12 billion households in the U.S. own a freshwater fish as per the survey conducted by American Pets Products Association.
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North America followed by APEJ region is prominent for the fish breeding tank market. The market is expected to translate a moderate CAGR during the forecast period. Demand for fish breeding tank is likely to increase in APEJ. North America with the highest number of fish pets is expected to be the largest market for fish breeding tank. Due to fueling demand for the favorite hobby and thriving business in the industry, Europe is forecast to gain decent market share in the fish breeding tank market. Leading manufacturers of fish breeding tank are mainly positioned in Europe and North America attributed to high profit aspects due to the enormous customer base. Significant presence of local manufacturers as compared to international players for the fish breeding tank makes the market unorganized.
Fish breeding tank will observe a Nobel CAGR in rising economies due to abundant local players. Also Japan, MEA and CIS & Russia are expected to contribute significant share to the fish breeding tank market.
Increasing demand of particular species of fish will create traction for fish breeding leading to open growth opportunity for fish breeding tank market. Movies like Finding Dory has amplified the demand for the blue tang fish. Rising demand for ornamental fishes has opened trade opportunities surging the fish breeding tank market. New manufacturing techniques and improved materials for the fish breeding tank has improved the durability of the tanks. Business opportunity of converting a hobby into business with minimum input strengthens the fish breeding tank market.
Fish breeding tank market is segmented on tank size, empty weight and filled weight. By tank size, fish breeding tank market is segmented into 2.5 to 15 gallons, 20 to 40 gallons, and 50 to 180 gallons. By empty weight, fish breeding tank market is segmented into 3 to 22 lbs, 25 to 50 lbs, and 70 to 300 lbs. By filled weight, fish breeding tank can be categorized into 30 to 200 lbs, 225 to 450 lbs, and 600 to 2100 lbs. Geographically, the global fish breeding market is segmented as North America, Latin America, Europe, Japan, CIS & Russia, Asia Pacific except Japan, and the Middle East Africa.
While the leading players are mainly based in North America, Europe and APEJ, however they are focusing on expanding their presence in untapped market like MEA and Japan. Key players operating in the global fish breeding tank market, include Hagen marina, Penn-Plax, Purewell Fish Farming Equipment, Acrylic Tank Manufacturing and Custom Aquariums.
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