Enjoy complimentary customisation on priority with our Enterprise License!
The fishing equipment market share is expected to increase by USD 5.05 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.28%.
This market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market segmentation by product (fishing rod, fishing reel, fishing lure, and others) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The market report also offers information on several market vendors, including AFTCO Mfg. Co. Inc., Decathlon SA, Eagle Claw Fishing Tackle Co., Gamakatsu USA Inc., GLOBERIDE 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. among others.
Get the Fishing Equipment Market Size Forecast by Downloading the Report Sample
The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the market.
Key Fishing Equipment Market Driver
Increasing recreational fishing is one of the key factors driving the market's growth. Fishing is one of the most popular outdoor recreational activities, especially in the coastal regions of various countries. In 2021, recreational fishers in the US caught an estimated one billion fish and released 65% of the catch. Many freshwater fish stocks and some coastal marine stocks are exclusively reserved for recreational fishing in many developed nations. Also, several individuals take up fly fishing. Recreational fishing is also undertaken on shorelines and riverbanks and is expected to increase during the forecast period. In the Mediterranean region, fishing tourism is a positive strategy to address the short-term losses of protected marine areas and provide an alternative source of income for people. Thus, the increasing popularity of recreational fishing among individuals will increase the sales of fishing equipment and propel the growth of the market in focus during the forecast period.
Key Fishing Equipment Market Trend
The rising demand for customized fishing equipment is one of the key market trends fueling market growth. Vendors operating in the market are trying to increase their sales by adopting various strategies. One of these strategies is providing customized fishing equipment. Buyers can customize the fishing equipment according to their requirements. Through customization, vendors can meet the specific requirements of customers and enhance customer relationships. Thus, the benefits offered by customized fishing equipment may encourage more vendors to offer such products, which will accelerate the growth momentum of the market in focus during the forecast period.
Key Fishing Equipment Market Challenge
Preference for pre-used and rental fishing equipment is one of the factors challenging the market's growth. Vendors operating in the global market are focusing on developing products with improved features. However, not all end-users prefer buying the expensive updated models of fishing equipment; many of them prefer low-cost fishing equipment. Pre-used models of fishing equipment are available, and they cost less than new products. End-users can get information about the availability of such models through advertisements in print and social media. Pre-used fishing equipment can be purchased from various online portals, such as Gumtree.com Ltd. (Gumtree) and eBay Inc. (eBay). They are also available in repair shops. The increasing preference for pre-used models of fishing equipment will negatively impact the sales of new units and hamper the growth of the market during the forecast period.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global fishing equipment market as a part of the global leisure products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The report market contains comprehensive market knowledge and an in-depth vendor landscape added to an analysis of the key vendors.
Our report provides extensive information on the value chain analysis for the fishing equipment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
Get a glance at the market share of various regions by Requesting a PDF Sample now!
31% of the market’s growth will originate from North America during the forecast period. The US is the key market for fishing equipment in North America. Market growth in this region will be faster than the growth of the market in the Middle East and Africa.
A continuous increase in the number of people participating in fishing will facilitate the market's growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The outbreak of COVID-19 had a negative impact on the regional market. In H2 2020, due to the availability of vaccines, the number of COVID-19 cases in the region declined. Trade restrictions were lifted gradually, which ensured fish exports from the US. In 2020, the US government provided a stimulus package to industries negatively impacted by the pandemic. Thus, the regional market is expected to grow during the forecast period.
To gain insights on the market contribution of various segments Request a PDF Sample
The market share growth in the fishing rod segment will be significant during the forecast period. Fishing rods are available in various lengths and can be customized according to end-user requirements. Short fishing rods bend less than long fishing rods. Long fishing rods are suitable for long-distance casting and are ideal for deep-water fishing. Some of the popular types of fishing rods available in the global market are casting rods, spinning rods, fly rods, and pen rods. The type of fishing rod is selected based on the fishing environment and the type of fish species in the water resource. Such factors in fishing rods will boost the market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.
Sports Fishing Equipment market - The market share is expected to increase by USD 2.45 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 3.21%.
Fishing Bait Market- The market is estimated to grow at a CAGR of 4.06% between 2022 and 2027. The market size is forecast to increase by USD 173.31 million.
Fishing Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
123 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.28% |
Market growth 2022-2026 |
$5.05 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.33 |
Regional analysis |
North America, Europe, APAC, South America, and the Middle East and Africa |
Performing market contribution |
North America at 31% |
Key consumer countries |
US, China, India, Japan, Germany, and France |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
AFTCO Mfg. Co. Inc., Decathlon SA, Eagle Claw Fishing Tackle Co., Gamakatsu USA Inc., GLOBERIDE 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, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.