Fishing Equipment Market Size, Share, Growth, And Industry Analysis by Type (Rods, Reels and Components, Line, Leaders, Lures, Files, Baits, Terminal Tackle, Electronics & Others) by Application (Freshwater Fishing, Saltwater Fishing), Regional Insights and Forecast to 2032

Updated On: 08 April 2024

FISHING EQUIPMENT MARKET REPORT OVERVIEW

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global fishing equipment market size was USD 13690 million in 2021 and market is projected to touch USD 20240.01 million by 2032 at CAGR 3.6% during the forecast period.

Fishing gear spans an extensive range, featuring cutting-edge rods, reels, and lines engineered for precision and durability. Advanced materials like carbon fiber create lightweight yet robust rods, optimizing sensitivity and casting distance. Reels incorporate innovative mechanisms for smoother retrieves and enhanced drag systems to tackle larger fish. Specialized lines, braided or fluorocarbon, offer superior strength and invisibility underwater. These tools cater to diverse fishing techniques, from fly fishing to deep-sea angling, enabling anglers to target specific species in various environments. The evolution of fishing equipment ensures versatility, reliability, and heightened performance for anglers across skill levels and fishing styles

The fishing equipment market size expansion is fueled by a convergence of factors. Growing interest in outdoor recreational activities, including fishing, propels demand. Increased disposable income enables more people to invest in quality gear for leisure pursuits. Additionally, a rise in eco-consciousness prompts a shift toward sustainable, environmentally friendly fishing products. Technological advancements continuously improve equipment, enticing enthusiasts to upgrade for enhanced performance. Social media and online platforms also play a role, fostering communities that share insights and drive interest in new gear. Overall, the market's growth stems from a blend of lifestyle trends, innovation, accessibility, and an evolving consumer ethos favoring quality and sustainability.

COVID-19 Impact: Pandemic Disrupted Supply Chains And Dampened Demand, But A Shift Towards Safe Outdoor Activities Led To A Surge In Fishing's Popularity Revitalizing The Market

The COVID-19 pandemic has been unprecedented and staggering, with fishing equipment market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic significantly influenced the fishing equipment sector. Initially, supply chain disruptions hindered manufacturing and distribution, causing inventory shortages and delayed product launches. Restrictions on outdoor activities and closures of fishing spots affected demand, particularly in the early stages. However, as lockdowns eased, there was a surge in fishing's popularity as a safe, socially distant outdoor activity. This shift revitalized the market, driving a notable increase in sales as more people sought recreational pursuits while adhering to pandemic safety measures. Online sales boomed due to the preference for contactless shopping. Despite initial setbacks, the market adapted, leveraging the increased interest in outdoor activities, leading to a resurgence in demand for fishing gear. 

LATEST TRENDS

"Tech-Infused Fishing Gear Revolutionizing the Angling Experience"

One prominent trend in the fishing equipment industry revolves around technology integration. Leading manufacturers are launching smart fishing gear, including rods and reels embedded with sensors and Bluetooth connectivity. These innovations offer real-time data on water temperature, fish location, and lure movement, enhancing anglers' precision. Notably, companies are also focusing on sustainable materials, introducing eco-friendly lines and biodegradable lures to reduce environmental impact. Key players like Shimano and Daiwa are at the forefront, unveiling high-tech reels with programmable features and improved drag systems. Simultaneously, companies like Abu Garcia explore smart rod technologies, enabling anglers to analyze casting techniques and optimize performance through mobile apps. This convergence of technology and sustainability marks a significant shift in the industry, catering to both innovation-driven anglers and eco-conscious consumers.

FISHING EQUIPMENT MARKET SEGMENTATION

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• By Type

Depending on fishing equipment market given are types: Rods, Reels and Components, Line, Leaders, Lures, Files, Baits, Terminal Tackle, Electronics & Others. The Rods type will capture the maximum market share through 2028.  

The market encompasses diverse segments tailored to anglers' specific needs. Rods and reels stand as the foundational components, crafted with advanced materials for varying fishing styles. Lines, leaders, and terminal tackle offer specialized options, from braided lines for strength to innovative hooks and swivels. Lures and baits, available in an array of designs, mimic natural prey to attract fish. Electronics, a rapidly growing sector, feature smart gear providing real-time data. Each segment caters to anglers seeking precision, versatility, and technological advancements in their pursuit of the perfect catch.

• By Application

The market is divided into Freshwater Fishing, Saltwater Fishing based on application. The global fishing equipment market players in cover segment like Freshwater Fishing will dominate the market share during 2022-2028.

The industry categorizes applications into freshwater and saltwater segments, catering to distinct environments and fishing experiences. Freshwater fishing gear is designed for inland bodies like lakes, rivers, and ponds, focusing on lighter equipment and versatile tackle suited for smaller species. In contrast, saltwater fishing demands sturdier, corrosion-resistant gear to withstand harsh marine conditions when targeting larger, powerful species in oceans or coastal areas. These segments offer specialized equipment tailored to the unique challenges and opportunities presented by each aquatic setting, catering to the preferences and requirements of anglers in diverse environments.

DRIVING FACTORS

"Recreational Fishing's Surge A Catalyst for Market Growth"

One significant driving force behind the growth of the market is the increasing participation in recreational fishing activities. The rising popularity of fishing as a leisure pursuit among individuals of various age groups contributes substantially to market expansion. This trend stems from the therapeutic and stress-relieving aspects of fishing, attracting more enthusiasts seeking outdoor experiences. Additionally, the accessibility of fishing spots and the promotion of fishing as a family-friendly activity further fuel this growth. As more people engage in recreational fishing as a hobby or bonding activity, the demand for high-quality, specialized gear continues to escalate, propelling the market's upward trajectory.

"Advanced Polymers And Carbon Fibers Innovation Driving Market Expansion"

Another pivotal factor propelling the fishing equipment market growth is the continuous innovation and technological advancements within the industry. The integration of cutting-edge materials, such as advanced polymers and carbon fibers, results in lighter, more durable, and high-performance gear. Moreover, the advent of smart fishing technology, including sensors, GPS, and connectivity features in rods, reels, and accessories, revolutionizes the angling experience. These innovations not only enhance precision and efficiency in catching fish but also cater to the evolving preferences of tech-savvy anglers. The relentless pursuit of innovation not only attracts seasoned anglers seeking superior equipment but also entices new enthusiasts, driving sustained growth in the market.

RESTRAINING FACTORS

"Environmental Concerns in Fishing Gear Impacting Market Dynamics"

One restraining factor impacting the market is environmental concerns and regulations. The industry faces scrutiny over sustainability practices, including the use of non-biodegradable materials in lures, lines, and other gear components. Stricter environmental regulations drive the demand for eco-friendly alternatives, challenging manufacturers to innovate and transition towards sustainable materials and production methods. Additionally, consumer awareness of the environmental impact of fishing gear contributes to a shift in purchasing behavior, favoring products that minimize harm to aquatic ecosystems. Meeting these sustainability demands while maintaining performance standards poses a challenge to market growth and necessitates adaptation within the industry.

FISHING EQUIPMENT MARKET REGIONAL INSIGHTS

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"North America's Market Dominance Due To Technological Innovation Attracts Enthusiasts, Boosts Demand"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America and Middle East & Africa.

North America emerges as a leading region in the market, characterized by a strong foothold in the industry and a burgeoning demand for high-quality gear. The region's vast expanse of freshwater bodies, coupled with a robust fishing culture, drives the fishing equipment market share. The United States and Canada spearhead this growth, with a substantial population of recreational anglers and a thriving fishing tourism industry. Furthermore, technological innovation and a penchant for premium fishing equipment among enthusiasts contribute to the region's prominence. North America's inclination towards sustainable practices and the adoption of advanced fishing technologies positions it as a key hub for the evolving landscape of fishing equipment.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

The fishing equipment market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in cloth wardrobes, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Newell (Jarden Corporation) (U.S.)
• Shimano (Japan)
• Globeride(Daiwa) (Japan)
• Rapala VMC Corporation (China)
• Weihai Guangwei Group (China)
• Dongmi Fishing (Japan)
• Johshuya Co. (Japan)
• Johnson Outdoors (U.S.)
• Cabela's Inc (U.S.)

INDUSTRIAL DEVELOPMENT

June 2022: Shimano, a leading fishing equipment manufacturer, unveiled its innovative Vanford spinning reel. This release marked a significant advancement in reel technology, integrating Shimano's MicroModule Gear II system for enhanced smoothness and durability. The Vanford reel also featured the Long Stroke Spool for extended casting distance and increased accuracy. Shimano's continual commitment to precision engineering and performance enhancement with the Vanford series showcased their dedication to meeting angler demands for cutting-edge, high-performance fishing gear in the evolving market.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.