What is Global Fishing Equipment Market?
The Global Fishing Equipment Market is a vast and dynamic sector that encompasses a wide range of products and services used in the fishing industry. This market is not just about the sale of fishing rods and bait, but it also includes the latest technology and equipment used for fishing in various water bodies across the globe. The market is driven by the increasing interest in recreational fishing activities, the growing demand for seafood, and the rise in fish farming. However, it's not just about the demand side. The supply side also plays a crucial role in shaping this market. Manufacturers and suppliers of fishing equipment are constantly innovating and introducing new products to meet the changing needs and preferences of the consumers. They are also focusing on improving the quality and durability of their products to gain a competitive edge in the market. The Global Fishing Equipment Market is also influenced by various factors such as government regulations, environmental concerns, and economic conditions. Despite these challenges, the market is expected to grow steadily in the coming years, thanks to the increasing popularity of sport fishing and the growing awareness about the benefits of eating fish.
Rods, Reels and Components, Line, Leaders, Lures, Files, Baits, Terminal Tackle, Electronics, Others in the Global Fishing Equipment Market:
The Global Fishing Equipment Market is segmented into various categories based on the type of product. These include Rods, Reels and Components, Line, Leaders, Lures, Files, Baits, Terminal Tackle, Electronics, and Others. Each of these segments has its own unique characteristics and contributes to the overall growth of the market. Rods, Reels and Components is the largest segment in the market, accounting for over 35% of the total market share. This segment includes various types of fishing rods and reels, as well as the components used in these products. The demand for these products is driven by the increasing popularity of recreational fishing and the growing need for high-quality fishing equipment. The Line, Leaders segment includes various types of fishing lines and leaders, which are essential for catching fish. The Lures, Files, Baits segment includes various types of lures, files, and baits used for attracting and catching fish. The Terminal Tackle segment includes various types of hooks, sinkers, floats, and other accessories used in fishing. The Electronics segment includes various types of electronic devices used for fishing, such as fish finders, GPS devices, and underwater cameras. The Others segment includes various other types of fishing equipment not categorized in the above segments.
Freshwater Fishing, Saltwater Fishing in the Global Fishing Equipment Market:
The Global Fishing Equipment Market is also segmented based on the type of fishing, namely Freshwater Fishing and Saltwater Fishing. Freshwater fishing is the practice of catching fish in freshwater bodies such as lakes, rivers, and ponds. This type of fishing requires specific types of equipment that are designed to withstand the conditions of freshwater bodies. The demand for freshwater fishing equipment is driven by the increasing popularity of recreational fishing in freshwater bodies and the growing number of freshwater fish farms. On the other hand, saltwater fishing is the practice of catching fish in saltwater bodies such as seas and oceans. This type of fishing requires specific types of equipment that are designed to withstand the harsh conditions of saltwater bodies. The demand for saltwater fishing equipment is driven by the increasing popularity of recreational fishing in saltwater bodies and the growing demand for seafood.
Global Fishing Equipment Market Outlook:
The Global Fishing Equipment Market is expected to witness significant growth in the coming years. As per the market outlook, the market was valued at US$ 14520 million in 2022 and is projected to reach US$ 17850 million by 2029, growing at a CAGR of 3.5% during the forecast period 2023-2029. This growth can be attributed to the increasing popularity of recreational fishing, the growing demand for seafood, and the rise in fish farming. The market is dominated by the top six manufacturers, who collectively hold a share of about 30%. In terms of product, the Rods, Reels and Components segment is the largest, accounting for over 35% of the total market share. This segment is expected to continue its dominance in the coming years, thanks to the increasing demand for high-quality fishing rods and reels.
| Report Metric | Details |
| Report Name | Fishing Equipment Market |
| Accounted market size in 2022 | US$ 14520 in million |
| Forecasted market size in 2029 | US$ 17850 million |
| CAGR | 3.5% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Newell (Jarden Corporation), Shimano, Globeride(Daiwa), Rapala VMC Corporation, Weihai Guangwei Group, Dongmi Fishing, Johshuya Co., Johnson Outdoors, Cabela's Inc, Wright & McGill, Pokee Fishing, St. Croix Rods, Gamakatsu, Tica Fishing, DUEL(YO-ZURI), Tiemco, Preston Innovations, Beilun Haibo, AFTCO Mfg., O. Mustad & Son, Okuma Fishing, Barfilon Fishing |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
