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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Fishing Equipment Market Outlook
The global fishing equipment market stood at a value of around USD 15,534.17 million in 2023. The market is further expected to grow at a CAGR of 4.3% in the forecast period of 2024-2032 to attain a value of nearly USD 22,690.03 million by 2032.
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The Fresh Water Segment to Hold a Substantial Share of the Global Fishing Equipment Industry
Based on the nature of fishing, the freshwater segment is expected to hold a significant share in the global fishing equipment industry during the forecast period. It is due to the increasing commercial and domestic fishing activities being carried out on freshwater bodies such as the Amazon basin, and Lake Victoria, among others. Meanwhile, in terms of type, the reels segment is estimated to account for a significant market share. It is a small cylindrical pulley-like device put on the fishing rods that eases the task of winding and pulling out a potential catch.
North America to Account for a Significant Market Share of the Global Fishing Equipment Industry
The North American region is predicted to account for a considerable share of the global fishing equipment industry. The market growth can be attributed to the increased popularity of fishing in the region. People from all age groups enjoy and actively engage in it. This has contributed substantially to the overall market growth. Meanwhile, Europe is also witnessing a rise in preference for fishing as a recreational sport, which is expected to impact the industry growth positively.
Fishing Equipment: Market Segmentation
Fishing is a recreational sport enjoyed by many around the world. People engage in fishing as a means to relieve stress, bond with nature, and socialise with new people with similar interests. In addition, seafood is an essential dietary element worldwide and is an acclaimed source of protein and healthy fats. Hence, fishing is carried out in different ways, such as cast-net fishing, spearfishing, and fly fishing, which require various tools to accomplish. Fishing equipment, therefore, is any tool that aids in the process of catching fish, such as hooks, fishing rods, reels and nets.
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By type, the market is divided into:
- Hooks
- Lines
- Sinkers and Floats
- Rods
- Reels
- Nets and Traps
- Spear and Gaffs
- Others
On the basis of nature, the industry can be categorised into:
- Fresh Water
- Salt Water
- Fly Fishing
- Others
Based on distribution channel, the market can be bifurcated into:
- Online
- Offline
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increased Investments in Online Promotional Strategies to Bolster the Growth of the Global Fishing Equipment Industry
Fishing equipment manufacturers are focussing on online sales and promotional activities due to the increased number of internet and social media users and a rising preference for online shopping, which is expected to grow significantly in the coming years. The online sales channel helps widen the consumer reach and narrow target segments while also assisting in logistics management, ease of payment, and enhancing the consumer experience. In addition, there has been an increase in fishing equipment sales due to the rising disposable incomes, growing consumer spending on recreational activities, and a surge in commercial and domestic fishing activities to meet the rising demand for seafood. These factors are expected to positively impact the industry growth in the forecast period.
Key Industry Players in the Global Fishing Equipment Market
The report gives a detailed analysis of the following key players in the global fishing equipment market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Daiwa Corporation
- Pure Fishing Inc.
- Sea Master Enterprise Co., Ltd.
- Maver (UK) Ltd
- Johnson Outdoors Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Nature |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global fishing equipment market attained a value of nearly USD 15,534.17 million.
The market is projected to grow at a CAGR of 4.3% between 2024 and 2032.
The major drivers of the market include the increasing demand for seafood, growing popularity of fishing as a sport, and rising awareness regarding health benefits associated with fishing.
The key trends guiding the market growth include the increasing preference for outdoor recreational activities and the rising awareness regarding conservation and sustainable fisheries.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant types of fishing equipment include hooks, lines, sinkers and floats, rods, spear and gaffs, reels, and nets and traps, among others.
The different natures of fishing equipment in the market include fresh water, salt water, and fly fishing, among others.
The primary distribution channels of fishing equipment are online and offline.
The key players in the global fishing equipment market are Daiwa Corporation, Pure Fishing Inc., Sea Master Enterprise Co., Ltd., Maver (UK) Ltd, and Johnson Outdoors Inc., among others.
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