According to the report by Expert Market Research (EMR), the global fishing equipment market is projected to grow at a CAGR of 4.3% between 2024 and 2032. Aided by the increasing popularity of recreational fishing and the steady demand in the commercial fishing sector, the market is expected to grow significantly by 2032.
Fishing equipment includes a wide array of tools and gear used for fishing activities, ranging from rods, reels, lines, baits, and lures, to specialised clothing and accessories. This market plays a crucial role in supporting both recreational fishing activities and commercial fishing operations.
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The global fishing equipment market growth is primarily driven by the increasing participation in recreational fishing, fuelled by rising disposable incomes and the growing interest in outdoor activities. Additionally, technological advancements in fishing gear, enhancing efficiency and effectiveness, are attracting new enthusiasts to the sport.
The market is segmented based on product types, including rods, reels, lures, baits, fishing lines, hooks, and others. The market is further categorised based on applications, distinguishing between recreational and commercial fishing.
Technological advancements play a pivotal role in propelling the fishing equipment market demand. Innovations in material science have led to the development of more durable and lightweight equipment, while advancements in electronic equipment, such as fish finders and GPS, have revolutionised fishing techniques.
As per the fishing equipment market analysis, in the commercial sector, the demand for efficient and advanced fishing equipment is crucial for enhancing catch rates and operational efficiency. The market is responding with innovative solutions to meet the specific needs of commercial fishermen.
Regionally, North America and Europe are leading markets in the fishing equipment sector, attributed to the high popularity of recreational fishing and the presence of major market players. The Asia-Pacific region is also witnessing significant growth due to the expanding fishing industry and rising interest in recreational fishing.
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Looking forward to 2032, the fishing equipment market is anticipated to witness continued growth, driven by innovations and the rising popularity of sport fishing. The trend towards sustainable and environmentally friendly fishing practices is expected to shape future product developments. As the market continues to evolve, it offers substantial opportunities for innovation, growth, and the promotion of sustainable fishing practices.
Fishing Equipment Market Segmentation
The market can be divided based on type, nature, distribution channel, and region.
Market Breakup by Type
- Hooks
- Lines
- Sinkers and Floats
- Rods
- Reels
- Nets and Traps
- Spear and Gaffs
- Others
Market Breakup by Nature
- Fresh Water
- Salt Water
- Fly Fishing
- Others
Market Breakup by Distribution Channel
- Online
- Offline
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global fishing equipment market. Some of the major players explored in the report by Expert Market Research are as follows:
- Daiwa Corporation
- Pure Fishing Inc.
- Sea Master Enterprise Co., Ltd.
- Maver (UK) Ltd
- Johnson Outdoors Inc.
- Others
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