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  • Fishing Equipment Market Analysis | 2023-2028

    Fishing Equipment Market Analysis | 2023-2028

    Fishing Equipment Market Analysis | 2023-2028
    Report code - SRCG263 Delivery - 2 Weeks
    Fishing Equipment Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Op See more...

    Market Insights

    The global fishing equipment market is estimated to grow from USD 15.74 billion in 2022 to USD 20.29 billion by 2028 at a CAGR of 4.24% during the forecast period.

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    What is Fishing Equipment?

    Fishing equipment is in high demand because of a surge in fishing activities across geographies. Some of the commonly used fishing equipment includes hooks, sinkers & floats, reels, rods, spears & gaffs, and others. The fishing hook was the most widely used fishing equipment in 2020 due to a surge in fishing activities. Fishing reels are being increasingly used in fishing. It is an essential part of fishing as is attached to a fishing rod that is used in the stowing line.

    Fishing Equipment Market Report Overview

    Market Size in 2028

    USD 20.29 Billion

    Market Size in 2022

    USD 15.74 Billion

    CAGR (2023-2028)

    4.24%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Market Dynamics

    The fishing equipment market is driven by a host of factors, some of which are noted below:

    • The increasing popularity of seafood is one of the key factors driving the market growth.
    • The market growth is primarily driven by increased spending on recreational activities across geographies.
    • Growing emphasis on developing technology-equipped fishing equipment is one of the prominent notices in the global fishing equipment market.
    • Additionally, the rising number of women anglers is likely to create lucrative opportunities for the players operating in the fishing equipment market.

    Covid-19 Impact 

    The spread of coronavirus affected fishing activities due to enforcement of lockdown to curb the spread of the virus. This led to travel restrictions and supply chain disruptions. Additionally, demand for fish food also declined amid covid-19 outbreak which in turn affected fishing activities and thus, fishing equipment.

    Key Players

    Top players operating in the global fishing equipment market are-

    Segment Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Type Analysis

    Hooks, Sinkers & floats, Reels, Rods, Spear & gaffs, Other

    Hooks segment dominated the market, with modern fishhooks available in various shapes, sizes, and materials.

    Application Type Analysis

    Fresh Water, Salt Water

    Freshwater segment held the majority market share, with low dissolved salts and total dissolved solids.

    Distribution Channel Type Analysis

    Offline, Online

    Offline segment of the fishing equipment market, including specialty stores and brand outlets, held the majority share in 2022.

    Regional Analysis

    North America, Europe, Asia-Pacific, and the Rest of the World

    North America held the largest market share in 2022 and 2021 due to its size and flexibility.

     

    By Application

    In 2022, based on application, the freshwater segment held the majority market share, with low dissolved salts and total dissolved solids. This naturally occurring water, except seawater and brackish water, is found in various bodies of water like ponds, lakes, rivers, streams, and reservoirs. Fishing equipment like rods, reels, hooks, and rigs are used to catch fish in freshwater.

    By Type

    In 2022, based on type, the hooks segment dominated the market, with modern fishhooks available in various shapes, sizes, and materials. These hooks can be single, double, or triple, with double hooks made from a single wire and possibly brazed together for strength. Triple hooks, on the other hand, combine an eyeless hook with a double hook, forming a stronger hook.

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    By Distribution Channel

    Based on the distribution channel, the offline segment of the fishing equipment market, including specialty stores and brand outlets, held the majority share in 2022 and is expected to continue to do so. Affluent customers, with higher disposable income, often purchase fishing equipment through these outlets. Market players are expanding their presence in these markets, driven by the growing population of affluent customers in mature and emerging regions, thereby expanding their customer base.

    Regional Analysis

    Based on region, North America held the largest market share in 2022 and 2021 due to its size and flexibility. The rise in population and improved lifestyle drives the growth of the fishing equipment market. The region's increased purchasing power boosts the sale of fishing equipment products, making it the largest economy globally. This contrasts with Western Europe's business model.

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    Target Audience

    Here is the list of the group of customers that the global fishing equipment market hopes to have the greatest opportunity to convert-

    • Fishing equipment manufacturers
    • Fishing equipment suppliers
    • Fishing equipment distributors
    • Organizations
    • Government bodies

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. 

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Fishing Equipment Market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    What are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Customization Options

    Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Fishing equipment is in high demand because of a surge in fishing activities across geographies. Some of the commonly used fishing equipment includes hooks, sinkers & floats, reels, rods, spears & gaffs, and others. The fishing hook was the most widely used fishing equipment in 2020 due to a surge in fishing activities. Fishing reels are being increasingly used in fishing. It is an essential part of fishing as is attached to a fishing rod that is used in the stowing line.

    Rome Specialty Company, Inc. (ROSCO) (The U.S.), Sea Master Enterprise Co., Ltd. (China), Maver Fishing & Angling Equipment (UK), Jarvis Walker Pty, Inc. (Australia), PRADCO Outdoor Brands, Inc. (The U.S.), Pure Fishing, Inc (The U.S.), Daiwa Corporation (The U.S.), Okuma Fishing Tackle Co., Ltd (China), Tica Fishing Tackle (China), Orvis (The U.S.) and Costa Del Mar or simply Costa (The U.S.) are among the key players in the market.

    The fishing equipment market is estimated to grow from USD 15.74 billion in 2022 to USD 20.29 billion by 2028.

    The market is estimated to grow at a CAGR of 4.24% during the forecast period.

    The freshwater segment held the majority market share in 2022.