Fishing Gear Market Size, Share, Growth, and Industry Analysis, By Type (Rods, Reels and Components, Line, Leaders, Lures, Files, Baits, Terminal Tackle, and Others), By Application (Freshwater Fishing and Saltwater Fishing) and Regional Insights and Forecast to 2031

Updated On: 29 April 2024

FISHING GEAR MARKET REPORT OVERVIEW

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The global fishing gear market size was USD 14510 million in 2022 and will touch USD 17660 million by 2028, exhibiting a CAGR of 3.3% during the forecast period.

Some tools are used to capture aquatic or marine resources, known as fishing gear. The method of fishing is nothing but how these gears are used. Also, there are various ways in which a fishing gear can be used whereas different equipment is used to catch different classes of items to be captured. Characterized by the fishing methods, active gear, and passive gear became two major categories. As the name refers, active gears are more active in their working nature. They chase the targeted species and capture them. On the other hand, the passive gears wait until the prey reaches the spot.

The world is working in such a way that every pastime activity finds a place in the global market and contributes to the global economy. The term sport fishing, done for either recreation or sport, is growing tremendously as a pastime across the world. Some of the developed countries making an effort to build fishing platforms, permitting access to water bodies to popularize the fishing habits. There are various associations also mostly in developed countries, and they keep on organizing fishing events to attract the public more to this activity. Using all these practices, the equipment related to fishing grows its demand and hence market expands fast mode.

COVID-19 Impact: Market Growth Increased by the Pandemic due to Increasing Demand for Fishing

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

Even though the pandemic affected the fishing gear market both positively and negatively, the positive aspects influenced the growth of this particular market very deeply. When the lockdown kept people away from group activities, the demand for fishing activities accelerated due to its safe nature. Fishing was possible by maintaining social distance. The pandemic restricted people from going on vacation to faraway places and also group sports items. Hence, individuals who stay near water bodies find fishing an interesting hobby. These changes in the behavior of consumers directed the fishing gear market growth.

LATEST TRENDS

"Integration of Technology Lead to Market Growth"

Technology is breaking all conventional practices day by day. The integration of technology with fishing gear creates a novel experience for fishing lovers. The inclusion of smart fishing equipment with GPS, sonar fish finders, and customized apps for anglers is the latest trend in the market and it has become popular among customers. Customization options are available in the latest technology products which make them customers’ favourite choice. When technology combines with the traditional gears, the development of new-era equipment happens and it directly influences the growth of the market.

FISHING GEAR MARKET SEGMENTATION

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By Type

Based on type the global market can be categorized into Rods, Reels and Components, Line, Leaders, Lures, Files, Baits, Terminal Tackle, and Others.

• Rods: Fishing rods are flexible poles that are used to cast and retrieve fishing lines. By doing so, they provide fishermen leverage and control over the fish they are trying to catch.

• Reels and Components: Reels are devices linked to fishing rods for the efficient management and retrieval of fishing lines, along with its accompanying components including spools, handles, and drag systems.

• Line, Leaders: Fishing lines are cords or threads used to attach bait or lures to fishing rods and reels. They can be composed of different materials, such as braided lines, fluorocarbon, or monofilament. Leaders are small lengths of fishing line that are used as camouflage or to keep fish from breaking the line. They are usually constructed of a thicker or more abrasion-resistant material than the main fishing line.

• Lures, Flies, Baits: To draw fish and entice them to bite, fishing lures are artificial bait made to resemble the look and movement of real prey. Fly fishing flies are artificial lures that are lightweight and composed of materials such as feathers and fur. The main purpose is to resemble insects or other aquatic animals. Fishing baits are made of natural or synthetic materials, including fake pellets, worms, or minnows, that are used to draw fish to a fishing hook.

• Terminal Tackle: To improve fishing efficiency and effectiveness, a variety of accessories and tiny equipment, such as hooks, swivels, sinkers, bobbers and snaps, are used at the terminal of a fishing line.

By Application

Based on application the market is classified into Freshwater Fishing and Saltwater Fishing.

• Freshwater Fishing: Equipment made particularly for the demands and characteristics of freshwater environments, such as lakes, ponds, and rivers.

• Saltwater Fishing: The purpose is to withstand the harsh conditions of marine environments, such as strong currents, corrosive saltwater, and larger, more powerful fish species.

DRIVING FACTORS

"Rising Participation in Recreational Fishing Leads to an Increase in Market Demand"

Recreational fishing has become the favorite sport item among a major population. The rising demand for outdoor activities such as recreational fishing became the main reason for the tremendous growth of the market in the last few years. In this time of stress and busy lifestyle, the relaxing nature of this hobby created its place among the other pastime activities. The recent urbanization caused the desire for a nature-related activity for stress relief. In totality, people’s change in lifestyle became the root of the rising demand for fishing gear.

"Technological Innovation Accelerates Market Growth"

The manufacturers have constantly developed new equipment with more innovative ideas. The incorporation of technology with traditional equipment creates a new level of satisfaction for customers. Manufacturers utilize advanced technologies including 3D printing, and computer-aided designs intending to develop high-quality products. These innovations include selecting materials for the product. Performance enhancement and high durability are some of the after-effects of these innovations. People seek variety in each product they are using nowadays, influencing the fishing gear market’s expansion.

RESTRAINING FACTORS

"Environmental Regulation Slows Down the Market Growth"

Climate change has become world’s one of the biggest concerns in recent years. Climate change has paved the way for many related issues such as temperature variation in oceans, there by local waterbodies. This is not a small issue to tackle. World leaders are discussing this, matter and trying to make appropriate laws and regulations to prevent the situation from worsening. Changes in both climate and regulations affect the fishing habits of individuals which directly affects the market growth. Due to unsustainable fishing practices, the fish population is affected, so the government takes strict action against these practices, resulting in a halt in market growth.

FISHING GEAR MARKET REGIONAL INSIGHTS

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"North America to Dominate the Market due to its Strong Geographical Support"

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

The geographical specialty of North America is the basis for its larger fishing gear market share. The North American region particularly the US and Canada is rich with many water bodies which influence the market growth. Numerous lakes, rivers, and coastal regions support the people in their fishing interests. Many communities in that region are ingrained with the culture of fishing. Also, the existence of well-known manufacturers as well as suppliers became the reason for market dominance compared to other geographical areas.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The multiple players in the market include the manufacturers, suppliers, and end users. The Prominent manufacturers with a variety of product ranges including fishing rode and reels play an important role in the market. To come up with advanced and innovative products, the technical research team must be super-efficient. The industry leaders in the supply chain have a key role in the development of this industry. If there is no person left with fishing interest, there wouldn't be any market for this product. So end users are the ultimate game changer.

List of Market Players Profiled

• Newell (Jarden Corporation) (U.S.)
• Globeride(Daiwa) (Japan)
• Shimano (Japan)
• Rapala VMC Corporation (Finland)
• Weihai Guangwei Group(China)
• Dongmi Fishing (China)
• RYOBI (Japan)
• Pokee Fishing (China)
• Cabela's Inc.(U.S.)
• Eagle Claw (U.S.)
• Humminbird (U.S.)
• St. Croix Rods (U.S.)
• Gamakatsu (Japan)
• Tica Fishing (Taiwan)
• DUEL(YO-ZURI) (Japan)
• Tiemco (Japan)
• Preston Innovations (U.K.)
• Beilun Haibo (China)
• AFTCO Mfg. (U.S.)
• O.Mustad & Son (Norway)
• Okuma Fishing (Taiwan)

INDUSTRIAL DEVELOPMENT

February 2022: To revive the Land, Ocean, and Waterways by collecting 1 million pieces of trash,

The National Wildlife Federation together with Johnson Outdoor came up with a challenge called Clean Earth Challenge

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 the 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.