The Koi Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Koi Global Market Report 2024, The koi market size has grown rapidly in recent years. It will grow from $2.33 billion in 2023 to $2.61 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to cultural symbolism and history, origins in aquaculture, artistic and aesthetic appreciation, breeding and genetic selection, development of koi shows and competitions
The koi market size is expected to see rapid growth in the next few years. It will grow to $3.92 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to growing interest in outdoor living spaces, expansion of online koi sales, integration of ai in breeding programs, koi in therapeutic and wellness settings, artificial habitat innovations. Major trends in the forecast period include miniature and indoor koi ponds, virtual koi shows and competitions, sustainable aquatic ecosystems, remote monitoring and koi care, interactive and educational koi exhibitions.
The expansion of the aquaculture sector is expected to propel the growth of the koi market going forward. Aquaculture refers to the practice of breeding, growing, and gathering fish, shellfish, algae, and other organisms in various aquatic environments. Koi are ornamental fish that are raised primarily as pets. Aquaculture, which is practiced by hobbyists and professionals, also includes the raising of Koi. As a result, increased aquaculture will aid in koi rearing. Thus, the expansion of aquaculture will help increase the rearing of koi. For instance, in March 2023, according to the Department of Agriculture, Fisheries, and Forestry, an Australia-based government administration, in Australia, Aquaculture’s gross value of production (GVP) climbed from 2020 to 2021 by 9% to $1.7 billion, making up 56% of all GVP. Additionally, the volume of aquaculture climbed by 24% to 131578 metric tons or about 43% of the total. Therefore, the expansion of the aquaculture sector is driving the growth of the koi market.
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The koi market covered in this report is segmented –
1) By Type: Kohaku, Taisho Sanke, Showa Sanke, Other Types
2) By Size: Small, Medium, Large
3) By Distribution Channel: Online, Offline
4) By Application: Commercial, Retail, Residential
The rising adoption of different types of attractive species is expected to propel the growth of the koi market going forward. Attractive species refers to a group of appealing creatures made up of similar individuals capable of interbreeding or gene exchange. Koi are ornamental fish that are raised primarily as pets because of their attractive color combinations. For instance, in March 2023, according to the Department of Agriculture, Fisheries, and Forestry, an Australia-based government administration, in Australia, wild-catch tuna volume increased to 9,216 tons in 2020-2021, compared to 8,691 tons reported between 2019-2020. Therefore, the rising adoption of different types of attractive species is driving the growth of the koi market.
The koi market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
……..
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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