Sports Fishing Equipment Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025
- Published: Jun 2021
- Pages: 120
- SKU: IRTNTR40026
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The sports fishing equipment market share is expected to increase by USD 2.08 bn from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 2.8%.
This sports fishing equipment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers sports fishing equipment market segmentations by product (fishing rod, fishing reel, fishing lure, and others) and geography (North America, Europe, APAC, South America, and MEA). The sports fishing equipment market report also offers information on several market vendors, including AFTCO Mfg. Co. Inc., Fairpoint Outdoors AS, Gamakatsu USA Inc., GLOBERIDE Inc., Grandt Industries Inc., OKUMA FISHING TACKLE Co. Ltd., Pure Fishing Inc., Rapala VMC Corp., Shimano Inc., and Tica Fishing Tackle among others.
What will the Sports Fishing Equipment Market Size be During the Forecast Period?
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Sports Fishing Equipment Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing popularity of recreational fishing is notably driving the sports fishing equipment market growth, although factors such as preference for pre-used and rental variants of sports fishing equipment may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the sports fishing equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Sports Fishing Equipment Market Driver
The increasing popularity of recreational fishing is the major driver of the growth of the sports fishing equipment market.The increasing popularity of recreational fishing will be a significant factor in driving the growth of the sports fishing equipment market.Several countries, especially in the Mediterranean region are promoting fish tourism to address the short-term losses of marine protected areas and to provide an alternative source of income.Apart from supporting travel, boating, restaurants, and the tourism industry, the rise in recreational fishing will also create several growth opportunities for sports fishing equipment vendors. This increasing participation in recreational fishing activities will boost the sales of sports fishing equipment and consequently fuel the growth of the market throughout the next
Key Sports Fishing Equipment Market Trend
Product portfolio expansion in the global sports fishing equipment market is the major trend driving the growth of the sports fishing equipment market.With the growing demand, market vendors are focusing on the development of sports fishing equipment integrated with innovative features that provide added benefits during operations.Certain sports fishing equipment available in the market allows end-users to perform precision fishing.A few of the market vendors are offering sensors for fishing rods. For instance, smart sensors for sports fishing equipment offered by Cyberfishing Inc. (Cyberfishing) tracks fishing hotspots through the Cyberfishing app.The increasing availability of such innovative sports fishing equipment will drive the growth of the market during the forecast period.
Key Sports Fishing Equipment Market Challenge
Preference for pre-used and rental variants of sports fishing equipment is the major hindrance to the growth of the sports fishing equipment market.Vendors operating in the global sports fishing equipment market are focusing on developing products with improved features. Not all end-users prefer buying the expensive updated models of sports fishing equipment; many of them prefer low-cost sports fishing equipment. Pre-used models of sports 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 sports 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. Increasing preference for the pre-used models of sports fishing equipment will negatively impact the sales of new units and hamper the growth of the market during the forecast period.
This sports fishing equipment 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 2021-2025.
Parent Market Analysis
Technavio categorises global sports fishing equipment market is 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 sports fishing equipment market during the forecast period.
Who are the Major Sports Fishing Equipment Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- AFTCO Mfg. Co. Inc.
- Fairpoint Outdoors AS
- Gamakatsu USA Inc.
- GLOBERIDE Inc.
- Grandt Industries Inc.
- OKUMA FISHING TACKLE Co. Ltd.
- Pure Fishing Inc.
- Rapala VMC Corp.
- Shimano Inc.
- Tica Fishing Tackle
This statistical study of the sports fishing equipment market encompasses successful business strategies deployed by the key vendors. The sports fishing equipment market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies in global leisure products market to compete in the market.
To make the most of the opportunities and recover from 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 sports fishing equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Sports Fishing Equipment Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the sports 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.
The value chain of global leisure products market includes the following core components:
- Inbound logistics
- Outbound logistics
- Marketing and sales
- Support activities
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Sports Fishing Equipment Market?
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40% of the market's growth will originate from North America during the forecast period. US is the key markets for market in North America. Market growth in this region will be faster than the growth of the market in regions.
The availability of innovative sports fishing equipment will facilitate the market 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 Impact and Recovery Analysis
The sports fishing equipment market in the region witnessed certain challenges due to the COVID-19 pandemic in 2020. Many government organizations in the region banned recreational fishing due to the pandemic. For instance, in March 2020, the Washington Department of Fish and Wildlife announced its decision to temporarily close recreational fishing and shellfishing events statewide. Some of the fishing events were also canceled in the region. For instance, in March 2020, the Pennsylvania Fish and Boat Commission announced that it had canceled fishing tournaments that were planned for April 2020. In March 2020, the organizers of Chilliwack s All About Fishing event announced that they had canceled the event in Canada. These factors negatively affected the demand for sports fishing equipment and, in turn, hindered the growth of the market in 2020. However, the market is likely to grow significantly after 2021, as there has been a rise in online channels to maintain the sales of sports fishing equipment and the resumption of leisure activities due to the decrease in COVID-19 cases in the region. These factors are expected to accelerate the growth of the market in North America during the forecast period.
What are the Revenue-generating Product Segments in the Sports Fishing Equipment Market?
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The market share growth by the segments fishing rods segment will be significant during the forecast period. The development of new variants of fishing rods with improved technologies will encourage more end-users to invest in such models, subsequently accelerating the growth momentum of the market during the forecast period.
Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the sports fishing equipment market size and actionable market insights on post COVID-19 impact on each segment.
Sports Fishing Equipment Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 2.8%
Market growth 2021-2025
USD 2.08 billion
YoY growth (%)
North America, Europe, APAC, South America, and MEA
Performing market contribution
North America at 40%
Key consumer countries
US, China, France, Germany, UK, and Japan
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
AFTCO Mfg. Co. Inc., Fairpoint Outdoors AS, Gamakatsu USA Inc., GLOBERIDE Inc., Grandt Industries Inc., OKUMA FISHING TACKLE Co. Ltd., Pure Fishing Inc., Rapala VMC Corp., Shimano Inc., and Tica Fishing Tackle
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 forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this Sports Fishing Equipment Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive sports fishing equipment market growth during the next five years
- Precise estimation of the sports fishing equipment market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the sports fishing equipment industry across North America, Europe, APAC, South America, and MEA
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of sports fishing equipment market vendors
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1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- 2.2 Market characteristics
- Exhibit 02: Market characteristics
- 2.3 Value chain analysis
- Exhibit 03: Value chain analysis: Leisure Products
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by Product
- 5.1 Market segments
- Exhibit 15: Product - Market share 2020-2025 (%)
- 5.2 Comparison by Product
- Exhibit 16: Comparison by Product
- 5.3 Fishing rod - Market size and forecast 2020-2025
- Exhibit 17: Fishing rod - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Fishing rod - Year-over-year growth 2020-2025 (%)
- 5.4 Fishing reel - Market size and forecast 2020-2025
- Exhibit 19: Fishing reel - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Fishing reel - Year-over-year growth 2020-2025 (%)
- 5.5 Fishing lure - Market size and forecast 2020-2025
- Exhibit 21: Fishing lure - Market size and forecast 2020-2025 ($ million)
- Exhibit 22: Fishing lure - Year-over-year growth 2020-2025 (%)
- 5.6 Others - Market size and forecast 2020-2025
- Exhibit 23: Others - Market size and forecast 2020-2025 ($ million)
- Exhibit 24: Others - Year-over-year growth 2020-2025 (%)
- 5.7 Market opportunity by Product
- Exhibit 25: Market opportunity by Product
6 Market segmentation by Distribution channel
- 6.1 Specialty and sports stores
- 6.2 Department and discount stores
- 6.3 Online
- 6.4 Others
7 Customer landscape
8 Geographic Landscape
- 8.1 Geographic segmentation
- 8.2 Geographic comparison
- 8.3 North America - Market size and forecast 2020-2025
- 8.4 Europe - Market size and forecast 2020-2025
- 8.5 APAC - Market size and forecast 2020-2025
- 8.6 South America - Market size and forecast 2020-2025
- 8.7 MEA - Market size and forecast 2020-2025
- 8.8 Key leading countries
- 8.9 Market opportunity by geography
9 Drivers, Challenges, and Trends
- 9.1 Market drivers
- 9.2 Market challenges
- 9.3 Market trends
10 Vendor Landscape
- 10.1 Vendor landscape
- 10.2 Landscape disruption
- 10.3 Competitive scenario
11 Vendor Analysis
- 11.1 Vendors covered
- 11.2 Market positioning of vendors
- 11.3 AFTCO Mfg. Co. Inc.
- 11.4 Fairpoint Outdoors AS
- 11.5 Gamakatsu USA Inc.
- 11.6 GLOBERIDE Inc.
- 11.7 Grandt Industries Inc.
- 11.8 OKUMA FISHING TACKLE Co. Ltd.
- 11.9 Pure Fishing Inc.
- 11.10 Rapala VMC Corp.
- 11.11 Shimano Inc.
- 11.12 Tica Fishing Tackle
- 12.1 Scope of the report
- 12.2 Currency conversion rates for US$
- 12.3 Research methodology
- 12.4 List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Increasing popularity of recreational fishing
- Product portfolio expansion in the global sports fishing equipment market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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