Sports Fishing Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Sports Fishing Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global sports fishing equipment market size reached US$ 13.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.82% during 2023-2028.

Sports fishing equipment refers to products, such as fishing rods, fishhooks, lines, baits, lures and sinkers that are used for recreational fishing and competitions. These tools are used for fishing without gear, grappling, stunning, line fishing, trapping, fishing with bag nets, trawling seining and gillnetting. The fishing lines are attached with natural or artificial bait to lure, hold and catch the fish. These lines are connected with reels for casting, spinning and fly fishing, which aid in hunting large-sized fishes and shellfishes. Various handheld tools, such as spears and harpoons, are also used that can be thrown with a thrust to wound and catch the fish.

Significant growth in the fishing industry represents one of the primary drivers of the market for sports fishing equipment. Along with this, increasing participation in water-based sports activities and a rising number of fishing associations and recreational fishing clubs are also contributing to the market growth. Sports fishermen and anglers are investing in high-quality fishing equipment that can be used in both freshwater and saltwater. Additionally, aggressive promotional activities by manufacturers, along with the development of the online retailing market that provides a hassle-free shopping experience while displaying a wide range of options to choose from to the consumers, are acting as other growth-inducing factors. Manufacturers are developing innovative product variants that are connected with sensors to locate and track fishing hotspots through a smartphone application. Other factors, including increasing consumer preference for outdoor recreational activities, owing to the growing millennial population and rapid urbanization, are projected to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global sports fishing equipment market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, application, end user and distribution channel.

Breakup by Product Type:

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

Breakup by Application:

Freshwater Fishing
Saltwater Fishing

Breakup by End User:

Individual Consumer
Clubs
Sports Organizers

Breakup by Distribution Channel:

Specialty and Sports Stores
Departmental and Discount Stores
Online Stores
Others

Breakup by Region:

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


Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players beingc 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.

Key Questions Answered in This Report:

How has the global sports fishing equipment market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global sports fishing equipment market?
What are the key regional markets?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end user?
What is the breakup of the market based on the distribution channel?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global sports fishing equipment market and who are the key players?
What is the degree of competition in the industry?