South Korea Fishing Equipment Market Overview, 2028

South Korea Fishing Equipment Market Overview, 2028

In South Korea, fishing is a much-liked pleasure as well as a significant sector for the economy of the nation. As a result, fishing equipment is highly valued in South Korea, and there are many manufacturers and retailers of fishing gear throughout the country. One of the main reasons that fishing equipment is important in South Korea is because of the country's long coastline and many rivers. These bodies of water provide ample opportunities for fishing, and many South Koreans enjoy spending time fishing as a hobby or for sport. In addition, fishing is also an important industry in South Korea. The country has a large fishing fleet and exports a significant amount of seafood to other countries. As a result, having access to high-quality fishing equipment is essential for the success of this industry. Fishing equipment is important in South Korea because of the country's interest in developing new fishing technologies. South Korean companies are known for their innovation in fishing gear, and they are constantly developing new products and techniques to improve fishing efficiency and sustainability.

According to the research report, ""South Korea Fishing Equipment Market Overview, 2028,"" published by Bonafide Research, the South Korean Fishing Equipment market is expected to add USD 90.62 million by 2028. South Korea is a growing market for fishing equipment, including based on product types like hooks, lines, sinkers & floats, roads, reels, nets & traps, spears & gaffs, baits & lures, and others. Among all the reels and lures, more are used by the South Korean people. Fishing reels are a popular type of fishing equipment in South Korea. South Korean anglers typically prefer reels that are sturdy and durable, as they often fish in challenging conditions. Spinning reels are the most commonly used type of reel in South Korea, followed by baitcasting reels. Fishing lures are also popular among anglers, and there is a wide variety of lures available on the market. Anglers often prefer lures that are designed to attract larger fish species, and they typically use lures that mimic the natural prey of these species. Fishing lines are another important type of fishing equipment on the market. Anglers typically prefer monofilament and braided lines, and they often use lines that are thicker and stronger than those used by anglers in other countries.

According to the Korean Anglers Association, there are approximately 5 million registered anglers in South Korea. The South Korean government has been actively promoting fishing tourism, and the industry has been growing in recent years as a result. In addition to recreational fishing, there is also a significant commercial fishing industry in South Korea, which includes both traditional methods and aquaculture. In South Korea, there are many government rules and regulations for fishing equipment. The Ministry of Trade, Industry, and Energy sets safety standards for fishing equipment sold in South Korea to ensure that products are safe for use by consumers. These standards cover various aspects of fishing equipment, including rods, reels, lures, and lines. The South Korean government has established import regulations for fishing equipment to ensure that products imported into the country meet the country's safety and quality standards. Products that do not meet these standards may be subject to import restrictions or seizure by customs officials. The South Korean government has established size and catch limits for various fish species to prevent overfishing and protect marine ecosystems. These limits apply to both recreational and commercial fishing activities and are enforced by government agencies. Anglers in South Korea are required to obtain fishing licences before they can engage in recreational fishing activities. The licences are issued by local government authorities and are intended to promote sustainable fishing practises and protect marine resources. The South Korean government has established several agencies responsible for enforcing fishing regulations, including the Ministry of Oceans and Fisheries, the Korea Coast Guard, and the National Fisheries Research and Development Institute. These agencies conduct inspections and investigations to ensure that fishing equipment and fishing practises comply with the country's regulations.

Based on the distribution channel, which includes online and offline, the offline segment currently dominates the fishing equipment market. Some of the specialist stores for fishing equipment are Fishing Park, Fishing Mate, Fish Mart, and Gyeonggi Fishing Tackle. Some of the local manufacturers of fishing equipment are Teton, G.Loomis Korea, and Pure Fishing Korea. Fishing in South Korea can be based on various types of water bodies, including freshwater, saltwater, and brackish water. Freshwater fishing is popular in many regions of South Korea, with anglers targeting species such as trout, carp, and catfish in rivers and lakes. Saltwater fishing is also popular, particularly along the country's extensive coastline, with anglers targeting species.

Considered in this report
• Geography: South Korea
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• South Korea Fishing Equipment market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Type
• Hooks
• lines
• Sinkers & floats
• Rods
• Reels
• Nets & Traps
• Spears& Gaffs
• Baits & Lures.
• Others

By Nature
• Fresh water
• Salt water
• Fly Fishing

By Distribution Channel
• Online
• offline

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, government-generated reports, and databases. After gathering the data from secondary sources, primary research was conducted by making telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started doing primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations and organizations related to the Fishing Equipment industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.