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The fly fishing apparel accessories market size is estimated to grow by USD 730.51 million between 2022 and 2027. The market size is forecast to increase at a CAGR of 4.22%. The growth of the market depends on several factors such as recreational fly fishing gaining traction, the increasing demand for seafood, and the product portfolio expansion in the global market.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth is recreational fly fishing gaining traction. The increasing number of individuals involved in recreational fishing, such as fly fishing is fuelling the growth in sales of the accessories. There is a growing popularity for fishing as a recreational activity in various coastal regions of different countries.
Moreover, recreational fishing can be done in freshwater and saltwater and it is one of the most popular recreational activities after jogging in the US. There is an increase in spending on fishing accessories by individuals due to the growing popularity of recreational fishing which is expected to drive the market growth during the forecast period.
A key factor shaping the market growth is the rising demand for customized fishing equipment. There is an increase in the adoption of various strategies by several market players in the global market. For instance, market players are offering customized variants of the products as per customer requirements.
Additionally, it enables the market players to understand the specific requirements of the customers and thereby improve customer relationships. Thus the numerous advantages of customized fly fishing equipment may increase such offerings in the market which in turn will drive the market growth during the forecast period.
Preference for pre-used and rental variants is one of the key challenges hindering market growth. There is an increasing focus by several market players in the global fly fishing apparel accessories market to offer products with improved features. However, a majority of consumers prefer low-cost fishing apparel accessories.
Moreover, the availability of pre-used models of fishing apparel accessories that cost less than the new products can negatively impact the market growth. Furthermore, these pre-used fishing models can be purchased from different online platforms such as Gumtree.com Ltd. (Gumtree) and eBay Inc. (eBay). Hence, such factors are expected to hinder market growth during the forecast period.
The market research 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 growth strategies.
Global Market 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.
8FANS: The company offers fly fishing apparel accessories such as 8 Fans jackets, 8 Fans waterproof gloves, 8 Fans Boot Hanger Fishing Waders Hangers, and waterproof fishing hats.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market 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 offline segment is estimated to witness significant growth during the forecast period. The offline segment in the global market comprises outdoor retailers, convenience stores, supermarkets, and wholesale distributors. The outdoor retailers in one of the channels of the offline segment which includes retailers such as REI or Bass Pro Shops, provide a wide variety of outdoor gear, including fishing apparel accessories
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The offline segment was the largest segment and was valued at USD 2,222.77 million in 2017. Another significant channel of the offline segment is the convenience stores which are mainly located near bodies of water, such as lakes or rivers, offering fishing apparel accessories. The main advantage of convenience stores is that they offer convenience and easy access for customers. These stores mainly cater to individuals who forgot to bring apparel accessories or are required to purchase additional supplies while on a fishing trip. Hence, the increasing preference among customers who want to see and handle products before purchasing is expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 42% 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. One of the main countries that are significantly contributing to the growth of the global market in North America is the US. There is growing popularity of sports fishing as an outdoor recreational activity in the US and the presence of the American Sportfishing Association (ASA) in the region is fuelling the market growth in the region.
Additionally, there is an increase in consumer spending on outdoor recreation than other products including pharmaceuticals and motor vehicles. Hence, the increasing number of participation of individuals in sports fishing results in an increase in demand for sports fishing equipment which, in turn, will drive the market growth during the forecast period.
The Market caters to anglers with eco-friendly and sustainable practices, offering clothing, packs, and socks. Industry growth is supported by organizations like the Recreational Boating & Fishing Foundation and Outdoor Foundation, alongside fishing derbies and tournaments. Retailers, including high-end online platforms like Fishing Tackle Unlimited, drive sales of sustainable products. Manufacturers innovate to enhance the fishing experience, targeting beginners and experienced anglers alike. With a focus on outdoor activities and environmental consciousness, the market reflects a growing demand for eco-friendly fly fishing gear through various retail channels, including e-commerce.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Market Scope |
|
Report Coverage |
Details |
Page number |
145 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.22% |
Market growth 2023-2027 |
USD 730.51 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.88 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 42% |
Key countries |
US, Canada, New Zealand, Norway, and Argentina |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
8FANS, Canadian Tire Corp. Ltd., Columbia Sportswear Co., Daiwa Sports Ltd., Far Bank Enterprises Inc., Fishpond Inc., Frogg Toggs, Gamakatsu USA Inc., Guideline AB, Loop Tackle Design AB, OCLOLLI LTD., Patagonia Inc., Pure Fishing Inc., Skwala Fishing, Slumberjack, Snowbee, The Orvis Co. Inc., VF Corp., Vision Group Oy, and Vista Outdoor Inc. |
Market dynamics |
Parent market analysis, Market forecasting, 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 market growth and trends 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 market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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