USD 1.33 billion
Global Fishing Equipment Market Size, Share, Growth Analysis, By Type(Hooks, Lines), By Nature(Fresh Water, Salt Water) - Industry Forecast 2024-2031
Report ID:
SQMIG25J2051 |
Region:
Global |
Published Date: March, 2024
Pages:
223
|
Tables:
68 |
Figures:
79
Global Fishing Equipment Market Insights
Global Fishing Equipment Market size was valued at USD 1.33 billion in 2022 and is poised to grow from USD 1.39 billion in 2023 to USD 1.94 billion by 2031, growing at a CAGR of 4.3% in the forecast period (2024- 2031).
The global fishing equipment market is a dynamic and diverse industry that encompasses a wide range of products designed for recreational and commercial fishing activities. This market has witnessed steady growth over the years, driven by factors such as increasing participation in fishing as a leisure activity, growing demand for seafood, technological advancements in fishing equipment, and expanding aquaculture practices. Recreational fishing, driven by the rising popularity of outdoor leisure activities, has significantly contributed to the market's growth. Fishing enthusiasts seek high-quality and specialized equipment, such as rods, reels, lines, lures, and tackle boxes, to enhance their fishing experience. Manufacturers are responding by developing innovative and customizable products that cater to the unique preferences of different fishing styles, including freshwater, saltwater, fly fishing, and ice fishing. On the commercial front, the fishing equipment market is influenced by the global demand for seafood. As the world population continues to grow, there is an increasing need for efficient and sustainable fishing practices. Commercial fishing operations require a diverse range of equipment, including fishing nets, trawlers, crab pots, and processing machinery, to ensure a productive catch while minimizing environmental impact. Technological advancements have played a pivotal role in shaping the fishing equipment market. From sonar technologies that enable anglers to locate fish more accurately to GPS systems that aid navigation, these innovations have revolutionized the way fishing is conducted. Additionally, the integration of digital platforms and mobile apps has provided anglers with real-time weather forecasts, fishing reports, and social sharing features, enhancing their overall fishing experience.
US Fishing Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024- 2031
Global Market Size
Largest Segment
Fresh Water
Fastest Growth
Salt Water
Growth Rate
4.3% CAGR
Global Fishing Equipment Market ($ Bn)
Country Share for North America Region (%)
Global Fishing Equipment Market By Nature ($ Bn)
Global Fishing Equipment Market By Nature (%)
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Global Fishing Equipment Market Segmental Analysis
The global fishing equipment market is segmented on the basis of Type, Nature, Distribution channel and region. By type, the market is segmented into Hooks, Lines, Sinkers & Floats, Rods, Reels, Nets & Traps, Spear & Gaffs, Others. By Nature, the market is segmented into FreshWater, Salt Water, Fly Fishing. By Distribution channel, the market is segmented into Online, Offline. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Fishing Equipment Market Analysis By Type
The global fishing equipment market is characterized by a diverse range of products, with Hooks being the dominant segment due to their fundamental role in fishing. Hooks are essential components for catching fish and are widely used across all fishing techniques. Their demand remains steady due to their indispensable nature.
Reels, on the other hand, represent the fastest growing segment in the fishing equipment market. Advancements in reel technology, such as improved drag systems, gear ratios, and materials, are driving the growth of this segment. Additionally, the popularity of recreational fishing, coupled with a rising interest in competitive fishing tournaments, is boosting the demand for high-performance reels.
Fishing Equipment Market Analysis By Nature
The global fishing equipment market's dominant segment is Fresh Water fishing equipment. With its widespread popularity among anglers and relatively easier accessibility, freshwater fishing equipment, including rods, reels, and accessories, commands a significant share of the market.
On the other hand, the fastest growing segment is Salt Water fishing equipment. As more anglers venture into saltwater fishing, the demand for specialized gear designed to withstand the harsh marine environment is rapidly increasing. Saltwater fishing equipment, such as corrosion-resistant reels, heavy-duty rods, and specialized lines, is witnessing substantial growth due to the expanding popularity of saltwater sport fishing and deep-sea angling experiences. This trend is driven by a growing interest in marine recreational activities and the pursuit of challenging and diverse fish species in saltwater ecosystems.
Global Fishing Equipment Market By Nature , 2022 (%)
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Global Fishing Equipment Market Regional Insights
The global fishing equipment market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America is the dominant region in the Global Fishing Equipment Market. Its robust fishing industry, driven by recreational angling and commercial fisheries, contributes significantly to market growth. The presence of established manufacturers, technological advancements in fishing gear, and a well-developed distribution network further solidify North America's dominant position.
On the other hand, Europe emerges as the fastest-growing region in the fishing equipment market. The region's rising emphasis on sustainable fishing practices, coupled with increasing awareness about environmental conservation, is driving the demand for innovative and eco-friendly fishing equipment. Stringent regulations to manage fish populations and protect aquatic ecosystems are propelling the adoption of advanced fishing technologies. Additionally, the popularity of recreational fishing and the steady growth of the aquaculture sector in Europe contribute to the region's rapid expansion in the fishing equipment market.
Global Fishing Equipment Market By Region, 2024- 2031
- Largest
- Fastest
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Global Fishing Equipment Market Dynamics
Fishing Equipment Market Drivers
Rising Demand for Recreational Fishing:
- The growing popularity of recreational fishing as a leisure activity is a major driver of the global fishing equipment market. Increasing disposable incomes, leisure time, and tourism activities contribute to the demand for fishing equipment, including fishing rods, reels, lines, and accessories.
Expanding Seafood Industry:
- The expanding global seafood industry, driven by the rising demand for protein-rich diets and health-conscious consumer preferences, fuels the need for efficient and advanced fishing equipment. Commercial fishing operations rely on specialized equipment such as trawlers, nets, and processing tools to meet seafood demands.
Fishing Equipment Market Restraints
Environmental Concerns and Overfishing:
- Overfishing and unsustainable fishing practices have led to concerns about the depletion of fish stocks and harm to marine ecosystems. Stringent regulations and conservation efforts could restrict fishing activities, impacting the demand for fishing equipment.
Rising Costs and Technological Barriers:
- The cost of advanced fishing equipment and technology, such as electronic navigation systems and fish finders, can be prohibitive for small-scale and artisanal fishermen. Additionally, the complexity of some advanced equipment may require specialized training, posing a barrier to entry for newcomers in the industry.
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Global Fishing Equipment Market Competitive Landscape
The global fishing equipment market boasts a competitive landscape characterized by prominent players vying for market share. Industry leaders maintain strong positions due to their extensive product portfolios and global distribution networks. The companies emphasize product innovation, quality, and brand recognition to retain their competitive edge. Regional players focus on specialized offerings catering to local preferences. Collaborations, mergers, and acquisitions are common strategies to enhance market presence. Market dynamics, including increasing recreational fishing and sustainable practices, further influence the competitive landscape. Continued investments in research, marketing, and expanding product lines are crucial for sustained success in this dynamic sector.
Fishing Equipment Market Top Player’s Company Profile
- Newell Brands Inc. (Pure Fishing) - USA
- Daiwa Corporation - Japan
- Rapala VMC Corporation - Finland
- Johnson Outdoors Inc. (Humminbird) - USA
- Okuma Fishing Tackle Co., Ltd. - Japan
- AFTCO MFG. Co., Inc. - USA
- Berkley Fishing (Pure Fishing) - USA
- Plano Synergy Holdings Inc. - USA
- Normark Corporation (Rapala Group) - Finland
- Gamakatsu Co., Ltd. - Japan
- Mustad & Son A.S. - Norway
- Penn Fishing Tackle Manufacturing Co. (Pure Fishing) - USA
- Pure Fishing, Inc. - USA
- St. Croix Rods - USA
- G. Loomis, Inc. - USA
- Abu Garcia (Pure Fishing) - Sweden
- YUM Baits (Pradco Outdoor Brands) - USA
- Shakespeare Fishing Tackle (Pure Fishing) - USA
- Eagle Claw Fishing Tackle Co. - USA
- Yo-Zuri America, Inc. - Japan
- Hardy Fishing (Pure Fishing) - UK
- Koppers Fishing & Tackle Corp. - Canada
- BASS PRO SHOPS - USA
- Huk Performance Fishing - USA
Fishing Equipment Market Recent Developments
-
In February 2024, Icelandic processing equipment producer Marel, situated in Garðabær, shaped a strategic partnership with Norwegian seafood processing, handling, and cooling equipment supplier MMC First Process, situated in Fosnavåg, Norway.
-
In March 2024, Saudi Arabia's Tabuk Fisheries Company, specializing in fish cultivating, partnered with NEOM, a Saudi regional development project coordinator, to lay out a joint aquaculture venture named Topian Aquaculture. This joint effort expands upon a memorandum of understanding signed in 2021 for the improvement of a fish hatchery.
-
In March 2024, Diamond Fishing Products and Zacatak Lures gladly declare their partnership as sponsors of the esteemed Big Rock Blue Marlin Tournament. This collaboration addresses an astonishingly open door for the two brands to help one of the world's most prestigious marlin tournaments.
Global Fishing Equipment Key Market Trends
- Technological Advancements and Innovation: The fishing equipment industry is witnessing rapid technological advancements and innovation. From advanced fish finders and GPS navigation systems to high-tech fishing reels and rods, manufacturers are continuously developing products that offer enhanced performance, precision, and user convenience. Integration of smart technologies, such as app-controlled fishing gear and real-time data analysis, is also becoming increasingly prevalent. These innovations are aimed at improving the overall fishing experience and attracting both amateur and professional anglers.
- Sustainability and Eco-Friendly Practices: With growing awareness of environmental conservation, there is a notable shift towards sustainable and eco-friendly fishing practices. Consumers and regulatory bodies are placing greater emphasis on minimizing the ecological impact of fishing equipment. Manufacturers are responding by using environmentally friendly materials, reducing plastic components, and designing gear that reduces bycatch and habitat destruction. Additionally, fishing equipment companies are participating in initiatives to promote responsible fishing and support marine conservation efforts, aligning with the broader trend of sustainability in the fishing industry.
Global Fishing Equipment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global fishing equipment market analysis, the market is witnessing steady growth propelled by factors such as increasing recreational fishing activities, rising consumer disposable income, and the growing popularity of fishing as a leisure pursuit. Key market players are innovating their product offerings, introducing advanced technologies like GPS tracking, fish finders, and durable materials to enhance the fishing experience. Additionally, the expansion of e-commerce platforms has facilitated easier access to a wide range of fishing equipment, further boosting market growth. However, concerns over overfishing and environmental conservation are influencing consumer preferences towards sustainable and eco-friendly fishing gear. The market's future will be shaped by a balance between innovation, sustainability, and regulatory considerations.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.33 billion |
| Market size value in 2031 | USD 1.94 billion |
| Growth Rate | 4.3% |
| Base year | 2023 |
| Forecast period | 2024- 2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Fishing Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Fishing Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Fishing Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Fishing Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Fishing Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Fishing Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Fishing Equipment Market Report Snapshots
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