Sports Outdoors

Sports Fishing Equipment Market to hit US$ 19.7 Billion by 2032 | Worldwide | IMARC Group

Sports Fishing Equipment Market

The latest report by IMARC Group, titled “Sports Fishing Equipment Market Report by Product Type (Fishing Rods, Fishing Reels, Fishing Hooks, Fishing Lures, Fishing Lines, Fishing Rigs, Fishing Jig Heads, and Others), Application (Freshwater Fishing, Saltwater Fishing), End User (Individual Consumer, Clubs, Sports Organizers), Distribution Channel (Specialty and Sports Stores, Departmental and Discount Stores, Online Stores, and Others), and Region 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the market. The global sports fishing equipment market size reached US$ 13.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 19.7 Billion by 2032, exhibiting a growth rate (CAGR) of 4% during 2024-2032.

Factors Affecting the Growth of the Global Sports Fishing Equipment Industry:

  • Increasing Popularity of Outdoor Activities:

The increasing interest in outdoor activities, especially sports fishing, is gaining significant momentum, particularly in the post-pandemic era. As people seek healthier lifestyle options and activities that permit social distancing, fishing has emerged as a popular choice. Moreover, the allure of being outdoors, combined with the therapeutic nature of fishing, has attracted a diverse group of enthusiasts, from families looking for quality time together to individuals seeking solitude and a break from the digital world. This surge in interest is also bolstered by organized events and community programs that promote fishing as a form of eco-friendly recreation. As a result, more people are taking up fishing, expanding the community, and fostering a greater appreciation for conservation and outdoor sports.

  • Technological Advancements:

The field of sports fishing has seen significant technological advancements that have transformed how anglers approach the sport. Modern fishing gear includes ultralight rods and stronger composite materials that enhance the fishing experience by offering better control and durability. Additionally, the integration of technology such as GPS-enabled fish finders allows anglers to locate schools of fish more efficiently, increasing the success rate of their outings. Besides this, innovative lures and baits designed through scientific research on fish behavior improve catch rates. These technological enhancements make fishing more productive and more engaging, especially for newcomers who can start with equipment that sets them up for success. The ongoing innovation in fishing technology is a critical factor driving the growth of the sport.

  • Growth in Recreational Expenditure:

As economic conditions improve globally, there is a noticeable increase in disposable income among consumers, which they are more willing to allocate towards leisure and recreational activities. Additionally, sports fishing benefits from this economic uplift as enthusiasts invest in upgrading their equipment and expanding their fishing activities. Moreover, the willingness to spend on higher-quality gear, guided fishing trips, and remote fishing destinations reflects a broader trend of investing in experiences that enhance personal well-being and satisfaction. This growth in recreational spending is a boon for the fishing equipment industry and stimulates local economies, particularly in areas known for fishing tourism, thereby creating a positive feedback loop that promotes continued interest and investment in sports fishing.

For an in-depth analysis, you can request a sample copy of the report: https://www.imarcgroup.com/sports-fishing-equipment-market/requestsample

Competitive Landscape:

The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.

  • AFTCO Mfg. Co. Inc.
  • Gamakatsu USA
  • GLOBERIDE Inc.
  • Newell Brands
  • O. Mustad & Son Pte Ltd.
  • OKUMA FISHING TACKLE CO. LTD.
  • Rapala VMC Corporation
  • Shimano Inc.

Sports Fishing Equipment Market Report Segmentation:

By Product Type:

  • Fishing Rods
  • Fishing Reels
  • Fishing Hooks
  • Fishing Lures
  • Fishing Lines
  • Fishing Rigs
  • Fishing Jig Heads
  • Others

Fishing hooks represent the largest segment due to their essential role in the fishing process and the variety of sizes and designs catering to different fishing techniques.

By Application:

  • Freshwater Fishing
  • Saltwater Fishing

Freshwater fishing accounts for the largest market share as freshwater bodies are more abundant globally, providing accessible and diverse fishing opportunities compared to saltwater environments.

By End User:

  • Individual Consumer
  • Clubs
  • Sports Organizers

Individual consumers dominate the sports fishing equipment market as they constitute a significant portion of recreational anglers who purchase gear for personal use rather than commercial purposes.

By Distribution Channel:

  • Specialty and Sports Stores
  • Departmental and Discount Stores
  • Online Stores
  • Others

Specialty and sports stores hold the largest market share, as they offer a wide range of specialized fishing equipment, knowledgeable staff, and a dedicated customer base seeking quality products and advice.

Regional Insights:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

North America’s dominance in the sports fishing equipment market is attributed to its vast coastline, abundant freshwater resources, strong fishing culture, and a high number of anglers, contributing to robust demand for sports fishing equipment.

Sports Fishing Equipment Market Trends:

 At present, the increasing awareness of environmental issues is escalating the demand for sustainable fishing practices and eco-friendly gear. Manufacturers are responding by producing equipment made from recycled materials, reducing waste in packaging, and developing biodegradable fishing lines and lures. Moreover, smart technology is making its way into fishing gear, with the introduction of GPS-enabled fish finders, Bluetooth-connected reels, and apps that provide real-time weather updates, water conditions, and fishing hotspots. These digital integrations enhance the fishing experience and improve success rates for anglers. Furthermore, the rise of e-commerce transformed the way fishing equipment is bought and sold with online retailers offering a wide selection of products, competitive pricing, and convenience, attracting seasoned anglers and newcomers to the sport.

Ask Analyst for Customization: https://www.imarcgroup.com/request?type=report&id=2334&flag=C

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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