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The fishing equipment market size is forecast to increase by USD 2.51 billion, at a CAGR of 2.21% between 2023 and 2028. The market is experiencing growth driven by several factors. Firstly, there is an increase in recreational fishing activities, fueled by leisure pursuits and outdoor lifestyle preferences worldwide. Concurrently, the rising demand for seafood, driven by health-conscious consumers and culinary diversity, further stimulates market expansion. Additionally, product portfolio expansion by fishing gear manufacturers and seafood suppliers enhances market competitiveness and consumer choice. These trends reflect a broader interest in sustainable fishing practices and quality seafood products. As stakeholders adapt to these dynamics, they are poised to capitalize on opportunities that cater to growing consumer preferences for recreational fishing experiences and a diverse range of seafood offerings, ensuring sustained growth and innovation in the recreational fishing and seafood market.
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The market encompasses a wide range of products used for various fishing techniques, including nets, ropes, lines, floats, traps, hooks, winches, and more. Net types include gillnets, trawl nets, and purse seines, while ropes and lines come in various materials and strengths. Floats help keep baits afloat, while traps and hooks are used to catch specific species. Fishing equipment is essential for both commercial and recreational fishing, with applications ranging from recreational fishing and shellfish collecting to commercial fishing using support vessels, aircraft, and container vessels. Fishing associations and programs play a crucial role in promoting sustainable fishing practices and protecting marine life, food webs, and ecological processes. Advancements in technology have led to the use of drones for fishing, allowing for more efficient and effective fishing operations. Fishing in different environments, such as freshwater, saltwater, ice, and deep sea, requires specialized equipment. However, plastic pollution is a significant concern in the fishing industry, with anglers encouraged to use biodegradable alternatives. Baits are also an essential component of fishing equipment, with various types used for different species and fishing techniques. Overall, the market is expected to continue growing due to increasing demand for seafood and the popularity of recreational fishing.
Increase in recreational fishing actvities is notably driving market growth. Fishing equipment sales continue to thrive due to the increasing participation of individuals in recreational angling, making it a popular outdoor activity in coastal areas worldwide. In the United States, recreational fishing is the second most-practiced outdoor hobby after jogging, with an estimated one billion fish being caught and released in 2021. Anglers engage in various fishing techniques, including freshwater and saltwater fishing, ice fishing, deep sea fishing, and sports fishing. These activities require diverse fishing gear and tackle, such as clubs, baits, e-commerce, premium rods, electronics, and tackle boxes.
Further, sustainability and environmental responsibility are crucial considerations for both sports organizers and consumers, leading to the use of eco-friendly materials and modern fishing techniques that minimize harm to ecosystem functions. Weather-related events, such as storms and droughts, can impact fishing activities, making it essential to have reliable equipment. Commercial fishing also relies on advanced fishing gear and electronics, including fishhooks, sonar, cameras, and weather-resistant gear. Fishing equipment sales on online platforms and brand outlets have seen significant growth, catering to the needs of anglers for convenience and accessibility. Thus, such factors are driving the growth of the market during the forecast period.
Rising demand for customized fishing equipment is the key trend in the market. The market is witnessing significant growth due to various strategies adopted by vendors. One such strategy is the provision of customized fishing equipment to cater to the specific needs of anglers. This customization allows buyers to choose equipment based on their preferences for freshwater, saltwater, ice fishing, or sports fishing. Customized gear may include premium rods, electronics such as sonar and camera, eco-friendly materials, and modern fishing techniques. Online platforms and retailers, as well as brand outlets and offline stores, are embracing this trend to attract customers and foster strong relationships. The benefits of customized fishing equipment, including improved sustainability and environmental responsibility through the use of recycled materials, may further fuel market growth during the forecast period.
Innovative reel technologies, for instance, are offering customized reels to meet the unique demands of anglers, thereby increasing sales and driving market expansion. The market encompasses a wide range of gear and tackle boxes, baits and lures, fishhooks, and other essential equipment for commercial and recreational fishing. Weather-related events, such as storms and droughts, as well as conservation zones, also impact market growth. Overall, the market offers numerous opportunities for vendors to cater to the diverse needs of anglers while promoting outdoor experiences, physical and mental health, and responsible fishing practices. Thus, such trends will shape the growth of the market during the forecast period.
Preference for pre-used and rental variants of fishing equipment is the major challenge that affects the growth of the market. The market witnesses the introduction of advanced fishing gear and tackle, with vendors prioritizing the development of products featuring enhanced functionality. However, not all anglers opt for high-end, updated fishing equipment; many prefer affordable alternatives. Pre-owned fishing equipment, including clubs, rods, baits, and tackle boxes, are widely available through various channels such as offline stores, brand outlets, and online platforms like Gumtree and eBay. These platforms offer a cost-effective solution for those seeking fishing equipment without the hefty price tag of new units. Despite the popularity of pre-owned equipment, the market for new fishing gear continues to grow, driven by the increasing number of sports fishing events, ice fishing, freshwater, and saltwater fishing activities.
Moreover, modern fishing techniques and electronics such as sonar, cameras, and fishfinders are gaining traction, attracting both recreational and commercial anglers. Sustainability and environmental responsibility are becoming essential considerations in the fishing equipment industry, with eco-friendly materials and recycled components increasingly being used in gear production. The market is influenced by various factors, including weather-related events, such as storms and droughts, and conservation zones, which impact commercial fishing activities. The market is further shaped by the growing demand for outdoor experiences and the positive impact of fishing on physical and mental health. As the market evolves, vendors must balance innovation with affordability and sustainability to cater to the diverse needs of anglers. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AFTCO Mfg. Co. Inc. - The company offers fishing equipment that includes aftco fishing gloves, performance underwear, fishing hats, and sun protection masks.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The fishing rod segment is estimated to witness significant growth during the forecast period. Market caters to the needs of sports organizers, anglers, and clubs, providing essential gear for various fishing techniques such as freshwater, saltwater, ice fishing, deep sea fishing, and sports fishing. Offline stores and brand outlets offer a wide range of fishing gear, tackle boxes, premium rods, electronics like sonar and cameras, fishhooks, baits and lures, and weatherproof gear. Online platforms and e-commerce retailers have expanded the market's reach, enabling anglers to purchase fishing equipment from the comfort of their homes.
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The fishing rod was the largest segment and was valued at USD 7.71 billion in 2018. Sustainability and environmental responsibility are increasingly important in the fishing equipment industry. Modern fishing techniques prioritize ecosystem functions, using eco-friendly materials and minimizing bycatch. Digital marketplaces offer a vast selection of recycled materials and sustainable fishing gear. Brands emphasize the importance of conservation zones, promoting responsible fishing practices. Fishing events, including weather-related events like storms and droughts, provide opportunities for outdoor experiences that contribute to physical and mental health. The market includes commercial fishing equipment, catering to large-scale operations, and offers a diverse range of products to enhance the fishing experience.
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APAC is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market encompasses a wide range of tools and supplies used in various types of fishing, including saltwater and freshwater fishing, shellfish collecting, and recreational and sport fishing. Key components of fishing equipment include nets, rope, line, floats, traps, hooks, winches, and fishing rods. Advanced technologies, such as aircraft and support vessels, are also used in commercial fishing operations. Online portals and internet sales channels have made it easier for anglers to access a vast selection of fishing equipment, including lures, reels, lines, and fly fishing gear. Logistical services and payment choices facilitate seamless transactions. Fishing associations and programs provide education and resources for anglers. Drones offer new opportunities for monitoring fishing areas and minimizing environmental impact. The fishing industry interacts with complex food webs and ecological processes, and it's essential to consider the impact of plastic pollution and responsible use of hooks, sinkers, and floats, rods, nets, and traps, spears, and gaffs in marine life conservation.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market encompasses a wide range of products used for various types of fishing, including netting, ropes, lines, floats, traps, hooks, winches, and fishing rods. These tools are essential for both commercial and recreational fishing, such as saltwater fishing rods, lures, reels, lines, and sport fishing equipment. Fishing equipment also includes specialized gear like aircraft and support vessels for offshore fishing, crafts for freshwater fishing, and containers for transporting and storing equipment. Online portals and internet sales channels have significantly impacted the market, offering logistical services, payment choices, and easy access to fishing gear. Fishing associations and programs play a crucial role in promoting fishing and providing education on sustainable practices.
Innovations in fishing equipment, such as drones for monitoring fishing areas and understanding food webs and ecological processes, contribute to the market's growth. However, concerns over plastic pollution and its impact on marine life remain a significant challenge. Products like hooks, sinkers, and floats, rods, nets and traps, spears and gaffs, and lines are used in both freshwater and saltwater environments for various fishing techniques, including fly fishing. The market's future growth is expected to be driven by technological advancements, increasing demand for sustainable fishing practices, and the growing popularity of recreational fishing.
Market Scope |
|
Report Coverage |
Details |
Page number |
134 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.21% |
Market growth 2024-2028 |
USD 2.51 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.1 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 36% |
Key countries |
US, China, Germany, India, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AFTCO Mfg. Co. Inc., Daiwa Sports Ltd., Decathlon SA, Eagle Claw Fishing Tackle Co., Gamakatsu USA Inc., Jarvis Walker Group, Johnson Outdoors Inc., Maver UK Ltd., OKUMA FISHING TACKLE Co. Ltd., PFG Group Pty Ltd., PRADCO Outdoor Brands Inc., Pure Fishing Inc., Rapala VMC Corp., Rome Specialty Co Inc., SENSAS s.a., SHIMANO INC., The Orvis Co. Inc., The Saltwater Edge, TICA FISHING TACKLE, and Weihai Guangwei Group Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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