According to the latest report by IMARC Group, titled "Sports Fishing Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global sports fishing equipment market grew at a CAGR of around 4% during 2014-2019. Sports fishing equipment includes numerous tools, such as rods, reels, lines, baits, lures, hooks and sinkers, that are used for fishing for pleasure. Also known as recreational fishing tools, these tools aid users in fishing without gear, grappling, trapping, stunning, line fishing, fishing with bag nets, trawling, seining and gillnetting. Natural or artificial baits are usually attached to the fishing lines, often connected with reels for casting, spinning and fly fishing, which assist in luring, holding and catching the fish. Apart from this, they can also be used to hunt large-sized fishes and shellfishes.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Sports Fishing Equipment Market Trends:
The market is primarily driven by the growing popularity of fishing as a sport and recreational activity, along with the increasing participation of individuals in outdoor sports activities. In addition to this, there has also been an increase in the number of fishing associations and recreational fishing clubs across the globe, which is providing a thrust to the market growth. The market is further driven by the growing investments in recreational fishing infrastructure by anglers and sports fishers. They are also increasingly investing in high-quality fishing equipment that can be utilized in freshwater and saltwater. Several players are further engaging in the development of improved product variants that offer an enhanced fishing experience to users by providing perfect weight balance to lessen fatigue. The advanced fishing rod variants are also connected with sensors to locate and track fishing hotspots through smartphone applications. Coupled with this, the increasing initiatives of various fishing associations for organizing fishing programs are expected to create a positive outlook for the market. Some of the other factors contributing to the market growth include the rising sales of fishing equipment through e-commerce websites and the escalating number of companies that are collaborating with recreational associations and clubs to sponsor sport fishing competitions. On account of the aforementioned factors, the market is anticipated to witness moderate growth during 2020-2025.
- On the basis of the product type, the market has been categorized into fishing rods, reels, hooks, lures, lines, rigs, jig heads and others.
- Based on the application, the market has been bifurcated into freshwater and saltwater fishing.
- On the basis of the end user, the market has been divided into individual consumer, clubs and sports organizers.
- Based on the distribution channel, the market has been classified into specialty and sports stores, departmental and discount stores, online stores, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players AFTCO Mfg. Co., Inc., Gamakatsu USA, GLOBERIDE Inc., Newell Brands, O. Mustad & Son Pte Ltd., OKUMA FISHING TACKLE CO., LTD., Rapala VMC Corporation and Shimano Inc.
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