Koi Global Market Report 2024

Koi, the colorful freshwater fish of the Amur Carp species found throughout Japan's rivers, ponds, and marshes, boasts high omega-3 content beneficial for mental health. With its rich protein content, Koi aids cell regeneration. Often sought after as ornamental fish, they are commonly kept in outdoor ponds or garden water features.

The primary types of koi comprise Kohaku, Taisho Sanke, Showa Sanke, and Other Varieties. These are classified into various sizes, including Small, Medium, and Large, and are distributed through diverse channels such as Online and Offline for utilization across Commercial, Retail, and Residential applications.

The koi market research report is one of a series of new reports from The Business Research Company that provides koi market statistics, including the koi industry's global market size, regional shares, competitors with koi market share, detailed koi market segments, market trends and opportunities, and any further data you may need to thrive in the koi industry. This koi market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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 historical growth can be credited to cultural significance and historical relevance, stemming from aquaculture origins, a deep appreciation for artistic aesthetics, advancements in breeding and genetic selection, and the evolution of koi shows and competitive events.

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 projected growth in the upcoming period can be linked to the increased fascination with outdoor living spaces, the expanding market of online koi sales, the integration of AI within breeding programs, the utilization of koi in therapeutic and wellness environments, and the innovation of artificial habitats. Key trends expected in this period encompass the rise of miniature and indoor koi ponds, the emergence of virtual koi shows and competitions, the promotion of sustainable aquatic ecosystems, the introduction of remote monitoring for koi care, and the development of interactive and educational koi exhibitions.

The koi market is set to experience growth driven by the expanding aquaculture sector. Aquaculture, the practice of breeding, growing, and harvesting aquatic organisms, encompasses various species, including ornamental fish such as koi. As a popular choice among hobbyists and professionals, koi are raised primarily as pets, and their cultivation aligns with the broader growth of aquaculture. In Australia, for example, the Department of Agriculture, Fisheries, and Forestry reported a 9% increase in the gross value of production (GVP) for aquaculture from 2020 to 2021, reaching $1.7 billion, constituting 56% of total GVP. The volume of aquaculture also rose by 24%, amounting to 131,578 metric tons or approximately 43% of the total. This expansion of the aquaculture sector is a key driver propelling the growth of the koi market.

The koi market is anticipated to witness growth due to the increasing demand for protein-rich food. Protein-rich foods, containing significant amounts of this essential macronutrient, are gaining popularity as consumers prioritize high-protein diets for growth, repair, and overall health. Koi fish, known for their vibrant colors, are not only admired for ornamental purposes but are also sought after in aquaculture for their protein-rich nutritional profile. The global demand for total protein is projected to reach 943.5 million metric tons by 2054, according to a report by the government of Canada in August 2022. As the trend towards protein-rich diets continues, the popularity of koi as ornamental fish and potential protein sources in aquaculture contributes to the overall growth of the koi market.

The koi market is poised for growth, propelled by the increasing adoption of various attractive species. Attractive species refer to appealing creatures with shared characteristics capable of interbreeding or gene exchange. Koi, known for their vibrant color combinations, are ornamental fish primarily raised as pets. In Australia, for instance, data from the Department of Agriculture, Fisheries, and Forestry indicated a rise in the wild-catch tuna volume from 8,691 tons in 2019-2020 to 9,216 tons in 2020-2021. This trend reflects the growing preference for diverse and visually appealing species, driving the overall expansion of the koi market.

Major companies in the koi market are introducing innovative services, such as fish food subscription services, to gain a competitive edge. Fish food subscription services offer a convenient and recurring delivery of fish food directly to consumers' doors. Pondbox, a UK-based company, launched a fish food subscription service in July 2023, providing a personalized experience for pond owners. Subscribers can choose from various fish food options tailored to their specific needs, including flakes, pellets, sticks, and pond sticks, based on fish type (Koi Carp, Goldfish, or mixed) and pond size. Priced starting at £8.50 ($10.75) every two months, Pondbox's service addresses challenges such as overfeeding and food quality reduction over time. This innovative subscription model offers a convenient and environmentally friendly solution for pond owners, whether beginners or experienced enthusiasts, contributing to the competitive advantage of companies in the koi market.

In May 2022, Ice Fish Farm AS, a Norwegian farm fishing company, successfully acquired Laxar Fiskeldi for a total of $144.4 million. This acquisition significantly consolidates the business, granting it exclusive ownership of every license allocated on Iceland's east coast. With this merger, the combined entity boasts a substantial biomass capacity totaling 36,800 metric tons. Laxar Fiskeldi, the acquired company, operates as a fish-farming entity based in Iceland.

Major companies operating in the koi market report are Ozark Fisheries Inc., Blackwater Creek Koi Farms, Dainichi Koi Farm, Kloubec Koi Farm, Kodama Koi Farm, Laguna Koi Ponds, Marugen Koi Farm, Narita Koi Farm. Co. Ltd., Ogata Koi Farm Co. Ltd., Konishi Koi Farm Co. Ltd, Hiroi Koi Farm, Hoshikin Koi Farm, Isa Koi Farm, Izumiya Koi Farm, Kaneko Koi Farm, Kanno Koi Farm, Kansuke Koi Farm, Kawakami Koi Farm, Koi Associates Limited, Kokugyokan Koi Farm, Marudo Yorijo, Matsuda Koi Farm, Matsue Koi Farm, Momotaro Koi Farm, Next Day Koi Inc., Nogami Koi Farm, Omosako Koi Farm, Sakai Fish Farm Co. Ltd., Shanghai Wanjin ornamental fish breeding goldfish Co. Ltd.

Asia-Pacific was the largest region in the koi market in 2023. The regions covered in the koi market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the koi market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The koi market consists of sales of chagoi, tancho, utsuri, and asagi. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Koi Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on koi market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for koi ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The koi market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 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
• Companies Mentioned: Ozark Fisheries Inc.; Blackwater Creek Koi Farms; Dainichi Koi Farm; Kloubec Koi Farm; Kodama Koi Farm
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.