Fishing Equipment Market is expected to reach US$ 31,835.53million by 2028

Growth of E-Commerce Channels to Boost the Sales of Fishing Equipment

According to our latest market study on “Fishing Equipment Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Fishing Rods, Nets and Traps, Hooks, Reels, Fishing Lines, Sinkers, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others),” the fishing equipment market size is expected to grow from  US$ 23,799.79 million in 2021 to US$ 31,835.53 million by 2028; it is likely to register a CAGR of 4.2% from 2021 to 2028. The report highlights key factors driving the fishing equipment market growth and the prominent market players along with their developments in the fishing equipment market.

Recreational fishing, often known as sport fishing, is fishing for fun or competition. The most typical type of recreational fishing is done using a rod, reel, line, hooks, and any of a variety of baits. Fishing equipment is in high demand due to an increase in fishing activities across the globe. People are engaging in various outdoor recreational activities such as hiking, cycling, rafting, mountaineering, and fishing due reduce day-to-day stress. Due to extended work schedules, people get very less time focus on their personal lives. Recreational fishing allows people to travel to different places. This helps them to reduce stress, anxiety, and depression. The rising interest in recreational fishing is driving the fishing equipment market growth. 

Global Fishing Equipment Market Breakdown – by Region

The introduction of new fishing equipment with upgraded technology by prominent industry players has increased public interest in fishing. These fish equipment manufacturers have addressed challenges encountered while fishing and developed essential solutions. For instance, AquaDrone, the global leader in fish equipment, offers customized drones designed exclusively to catch fish. The drone is meant to find fish using sonar, take photographs with the camera put on it, install a bait and lure, and return to the exact location to catch fish. The device is completely water-resistant and may be used in fresh and saltwater. Furthermore, AquaDrone has grown in popularity among the younger generation and those who do not have the patience to wait for fish to be caught. Thus, the availability of technologically advanced fishing equipment is expected to drive the fishing equipment market growth over the forecast period. 

Eagle Claw Fishing Tackle Co.; Okuma Fishing Tackle Co. Ltd.; Shimano Inc.; TICA Fishing Tackle; AFTCO; Rapala VMC Corporation; Weihai Guangwei Group Co., Ltd.; Decathlon SA; Daiwa; Pure Fishing Inc. are among the major players operating in the global fishing equipment market. These companies offer a wide range of fishing equipment including fishing rods, reels, lure & baits, weights & sinkers, among other products to the customers across the globe. Moreover, these companies invest in research and development and focus on product innovation to launch technologically advanced products. Moreover, these companies also focus on improving the accessibility of the equipment to make them convenient to use even for beginners. These companies also focus on expanding their business operations across profitable markets like Asia-Pacific and Europe. Moreover, they are expanding their manufacturing capabilities to meet the growing demand for outdoor and recreational fishing equipment.

Impact of COVID-19 Pandemic on Fishing Equipment Market

The consumer goods industry suffered severe disruptions due to disturbances in supply chains and shutdowns of production plants amid the COVID-19 pandemic. The pandemic induced recession across the global economies as the marketplace remained shut due to lockdowns and border restrictions. This pandemic-induced recession negatively impacted the purchasing decisions of consumers. Consumers focused on purchasing only essential goods to fulfill their day-to-day requirements. This hampered the sales of luxury goods including fishing equipment. Also, the border restrictions and travel ban halted the recreational activities such as fishing and travelling which adversely impacted the demand for fishing equipment and gear. However, in 2021, the governments of various countries announced relaxation in lockdown and travel ban restrictions. Supermarkets and shopping malls were also permitted to open which positively impacted the sales of various consumer goods including fishing equipment. Thus, during late 2021, the fishing equipment market witnessed recovery, which aided the market growth. 

The report includes the segmentation of the fishing equipment market as follows:
Based on type, the fishing equipment market is segmented into fishing rods, nets and traps, hooks, reels, fishing lines, sinkers, and others. Based on distribution channel, the fishing equipment market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The fishing equipment market in North America is further segmented into the US, Canada, and Mexico. The European market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The fishing equipment market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The fishing equipment market in South & Central America market is categorized into Brazil, Argentina, and the Rest of South & Central America.

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