Global Fishing Equipment Market Research Report Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032: By Nature (Fresh Water, Salt Water, and Fly Fishing), By Type (Hooks, Lines, Sinkers & Floats, Rods, Reels, Nets & Traps, Spear & Gaffs, Baits & Lures, and Others), By End User (Individual Consumers, Clubs, and Sports Organizers), and Region (North America, Europe, Asia-Pacific, and Rest of the World)
The global fishing equipment market was valued at USD 14.97 billion in 2023 and is estimated to reach approximately USD 22.64 billion by 2032, at a CAGR of 4.7% from 2024 to 2032.
The market for fishing equipment is vast, with a variety of tools and gear suitable for anglers with different preferences and ability levels. This sector provides fishing aficionados all over the world with everything from rods and reels to tackle boxes full of hooks, lines, and lures. As a crucial component of both recreational and commercial fishing, the industry is always changing to include new designs, eco-friendly materials, and technology improvements. The market offers a wide range of solutions to improve the fishing experience, whether it be for freshwater or saltwater, taking into account different species, habitats, and techniques.
FISHING EQUIPMENT MARKET: REPORT SCOPE & SEGMENTATION
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Report Attribute |
Details |
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Estimated Market Value (2023) |
14.97Bn |
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Projected Market Value (2032) |
22.64 Bn |
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Base Year |
2023 |
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Forecast Years |
2024 - 2032 |
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Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Nature, By Type, By End User, & Region |
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Segments Covered |
By Nature, By Type, By End User, & Region |
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Forecast Units |
Value (USD Billion or Million), and Volume (Units) |
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Quantitative Units |
Revenue in USD million/billion and CAGR from 2024 to 2032 |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World |
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Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
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Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
Global Fishing Equipment Dynamics
Economic conditions, consumer tastes, environmental concerns, and technology improvements are some of the elements that impact the dynamics of the fishing equipment industry. Competition among industry participants is fueled by innovations in materials, manufacturing techniques, and product designs, which results in ongoing product improvement and differentiation. Due to consumer demand, manufacturers are now creating fishing gear that has as little of an impact on the environment as possible. Global events and changes in the economy can have an impact on consumer purchasing trends and market expansion. Market patterns are also influenced by laws and policies pertaining to conservation and fishing activities.
Global Fishing Equipment Drivers
The market for fishing equipment is significantly influenced by the rising number of people engaging in recreational fishing. The need for fishing equipment rises in tandem with the number of individuals engaging in outdoor recreational activities for fun and relaxation. Urbanization, stress alleviation, and the need for immersive outdoor experiences are some of the causes driving this trend. As a result, producers and merchants can benefit from this trend by providing a wide selection of fishing gear that is suited to recreational fishermen' requirements and tastes.
People are drawn to outdoor hobbies like fishing as they become more aware of the advantages it offers, including improved physical and mental health and a stronger sense of connection to the natural world. As a result of this increased awareness, fishing gear is becoming more and more popular as enthusiasts realize how important it is to have it for outdoor activities. In order to meet the needs of outdoor lovers, manufacturers should take advantage of this trend by providing cutting-edge and environmentally friendly fishing equipment.
Restraints:
Weather-related events, such as storms, droughts, and extremely high or low temperatures, can cause disruptions to fishing operations and discourage anglers from going outside. The demand for fishing gear is unpredictable, which affects sales and inventory control for producers and dealers. In addition, unfavorable weather can make anglers more reluctant to purchase new gear by raising questions about their safety. As a result of these weather-related issues, the market goes through times of limited growth and stagnation.
Access restrictions imposed by private property, conservation zones, or urbanization make it more difficult for fishermen to get to popular fishing locations. This restriction affects sales for manufacturers and retailers by lowering the market for specialist gear made for particular fishing locations and species. Further, limiting access makes fishing less appealing to fishermen overall, which lowers participation rates and reduces the pool of potential customers for fishing equipment manufacturers.
Opportunities:
Anglers are becoming more and more interested in eco-friendly choices as environmental worries develop. Manufacturers can profit from this trend by creating cutting-edge fishing gear composed of biodegradable, repurposed, or sustainably derived materials. Businesses may stand out from the competition, draw in eco-aware customers, and support conservation initiatives by providing ecologically friendly products. This promotes customer loyalty and increases revenue.
Manufacturers and retailers no longer require physical locations to reach a wider audience, especially remote or niche areas, thanks to the growing popularity of online purchasing. Businesses may provide a greater range of products, tailored recommendations, and easy online shopping experiences by utilizing e-commerce platforms. In the cutthroat fishing equipment industry, direct-to-consumer sales also give businesses more control over branding, price, and customer relations, which promotes brand loyalty and boosts revenue growth.
Segment Overview
Based on nature, the global fishing equipment market is divided into fresh water, salt water, and fly fishing. The fresh water category dominates the market with the largest revenue share in 2023. The purpose of freshwater fishing equipment is to fish in freshwater bodies of water including lakes, rivers, and ponds. Typically, this gear consists of fishing rods, reels, lines, hooks, and lures designed to catch panfish, pike, bass, and trout. Seas, oceans, and coastal regions are among the aquatic habitats where saltwater fishing gear is most useful. For this equipment to survive the corrosive effects of saltwater, it is usually more strong and lasting. Unlike typical bait or lures, fly fishing gear is unique in that it uses lightweight flies composed of feathers, fur, and synthetic materials.
Based on the type, the global fishing equipment market is categorized into hooks, lines, sinkers & floats, rods, reels, nets & traps, spear & gaffs, baits & lures, and others. The hooks category leads the global fishing equipment market with the largest revenue share in 2023. Hooks are necessary tools for penetrating the mouths or bodies of fish to catch them. They are made of varied materials, sizes, and forms, and each is appropriate for a certain target species and fishing method. The device that connects the angler and the fish and transfers the force required to reel in a catch is called a fishing line. Usually, they are constructed from materials with varying strengths, flexibility, and visibility, such as fluorocarbon, braided lines, or monofilament. While floats, or bobbers, assist fishermen in identifying bites by signaling when a fish is nibbling on the bait, sinkers, often referred to as weights, are used to sink fishing lines to desired depths. Long, flexible fishing rods are used to cast lures or bait and reel in fish.
Based on end user, the global fishing equipment market is segmented into individual consumers, clubs, and sports organizers. The individual consumers segment dominates the fishing equipment market. Individual consumers are regular fishermen who buy gear for their own usage. They comprise hobbyists, enthusiasts, and recreational fishers who fish for fun, amusement, or fitness. Organizations called fishing clubs are made up of groups of fishermen who have a common interest in fishing. These groups could concentrate on particular fishing techniques or target species. Fishing-related activities, tournaments, and social gatherings are frequently attended by members of fishing clubs. Organizations that arrange larger-scale competitions, events, and fishing tournaments are considered sports organizers. These organizers could be anything from fishing associations and professional tournament circuits to small-town community organizations.
Global Fishing Equipment Overview by Region
The global fishing equipment market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. North America emerged as the leading region, capturing the largest market share in 2023. Millions of fishermen have enjoyed the sport of recreational fishing throughout the region's extensive network of lakes, rivers, and beaches. Fishing gear is in high demand due to a society that values outdoor activity and high levels of disposable income. Furthermore, there is a robust fishing industry in North America, with many merchants, manufacturers, and fishing-related businesses meeting the demands of fishermen.
Throughout the forecast period, Asia-Pacific is anticipated to post a significant CAGR. Numerous causes, such as the region's dense population, growing disposable incomes, and growing interest in outdoor pursuits like fishing, are responsible for this increase. Aside from its varied fishing environments which range from vast coastlines to inland rivers Asia-Pacific offers plenty of options for fishermen. Additionally, the demand for outdoor activities is being fueled by changing lifestyles and expanding urbanization, which is propelling the adoption of fishing gear.
Global Fishing Equipment Competitive Landscape
In the global fishing equipment market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.
Some of the prominent players in the global fishing equipment market include,
Global Fishing Equipment Recent Developments
Scope of the Global Fishing Equipment Report
Fishing Equipment Market Report Segmentation
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ATTRIBUTE |
DETAILS |
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By Nature |
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By Type |
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By End User |
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By Geography |
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Customization Scope |
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Pricing |
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Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Intended Audience
Research Methodology
Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region. The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.
Data Collection
Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.
Primary Research
After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market.
Secondary Research
A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.
Top-Down Approach & Bottom-Up Approach
In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.
In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.
This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.
Market Analysis & size Estimation
Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.
Quality Checking & Final Review
The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.
