Global Fishing Hooks Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Fishing Hooks Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A fish hook is a tool used to hang bait to attract fish to hook during fishing. The fish hook is composed of six parts: handle, hook handle, hook bend, hook tip, hook door, and hook bottom. Each part has its own specific function and is an indispensable tool for fishing. This research report divides the products into Large Size and Small Size. According to different sales channels, it is divided into Specialty and Sports Shops, Department and Discount Stores, and Online Retail.

Market Overview:

The latest research study on the global Fishing Hooks market finds that the global Fishing Hooks market reached a value of USD 765.29 million in 2022. It’s expected that the market will achieve USD 2646.2 million by 2028, exhibiting a CAGR of 22.97% during the forecast period.

Currently, the COVID-19 virus is still spreading around the world. Although the global economy is gradually recovering, the uncertainty of the epidemic has brought uncertainty to the development of various industries in the United States. The development of the industry depends to a certain extent on the strength of local epidemic prevention and control measures. This also includes this industry.

With the outbreak of the COVID-19 pandemic, major regional markets are facing the dual impact of worker shortages and rising production costs. The disruption of the raw material supply chain also hindered the growth of the fish hook market. By 2021, as the epidemic gradually subsides, epidemic prevention and control measures are relaxed, the number of people participating in recreational fisheries continues to increase, and the demand for fishing hooks will continue to increase.

The rapid development of global e-commerce promotes product sales

For the Fishing Hooks industry, the growing popularity of e-commerce retailers such as Amazon has promoted the development of the industry. This is mainly due to online channels that promote product sales. As shoppers become more accustomed to buying goods online and retailers fine-tune e-commerce operations to deliver products faster, the share of online e-commerce in total retail sales is increasing every year. At the same time, the pandemic has exacerbated this trend. For example, according to data from the US Department of Commerce, in the second quarter of 2020, e-commerce has grown nearly five times-a record year-on-year increase of 43.7%-and each quarter thereafter has grown between 30-40%. Online e-commerce has broadened the sales channels of products due to its convenience and other characteristics, thereby promoting the development of Fishing Hooks.

Challenges posed by industry regulatory measures

For the Fishing Hooks industry, the industry supervision of its recreational fishery will have an impact on the industry. For example, in October 2020, the Florida Fish and Wildlife Conservation Commission (FWC) approved new hook requirements in Atlantic waters, aimed at increasing the survival rate of reef fish catch and release, and continue to encourage use to help reef fish in catching and best fishing practices for survival at the time of release. From January 1, 2021, anglers who use hooks with natural bait to catch reef fish such as snappers or groupers will be required to use non-stainless, non-offset round hooks north of the Atlantic waters. Non-stainless-steel hooks at 28 degrees north latitude (near Melbourne) and south of 28 degrees north latitude. These changes are consistent with the requirements of the Atlantic Federal Waters that have recently entered into force. These changes in regulatory measures related to recreational fisheries have brought challenges to Fishing Hooks producers in the region to a certain extent.

Region Overview:

In 2021, the share of the Fishing Hooks market in China stood at 27.64%.

Company Overview:

Gamakatsu is one of the major players operating in the Fishing Hooks market, holding a share of 15.7% in 2021.

Gamakatsu

Gamakatsu began producing hooks in 1955. At that time, they were the smallest hook manufacturer in Japan, and all the hooks were handmade. In 1963, they introduced a new automatic heating facility, making them the forefront of the Japanese market. Gamakatsu is the leading manufacturer of fishing hooks in Japan and even the world. Gamakatsu continuously tests new materials and strives to improve their products, which have set the standard for other industries.

Shimano

Shimano, Inc. is a Japanese multinational manufacturer of cycling components, fishing tackle and rowing equipment. In 2019, SHIMANO Experience Center opened in Valkenburg, the Netherlands. In the commercial facility PARCOURSE, an experiential exhibition facility with the themes of bicycles, fishing and boating is opened, where you can get in touch with Shimano latest technology. In 2020, the Headquarters Technology Innovation Center will be completed. SHIMANO IBERIA, SL is established.

Segmentation Overview:

As for product types, the Small Size segment held the largest market share in 2021.

Application Overview:

The market largest segment by application is the segment Specialty and Sports Shops, with a market share of 63.73% in 2021.

Specialty and Sports Shops

A specialty store is a shop/store that carries a deep assortment of brands, styles, or models within a relatively narrow category of goods.

Department and Discount Stores

Discount store, in merchandising, a retail store that sells products at prices lower than those asked by traditional retail outlets. Some discount stores are similar to department stores in that they offer a wide assortment of goods; indeed, some are called discount department stores.

Online Retail

Online Retail is an e-commerce where consumers use a web browser to purchase goods or services directly from sellers via the Internet.

Key Companies in the global Fishing Hooks market covered in Chapter 3:

Eagle Claw
VMC PECHE
Gamakatsu
BKK
Shimano
HAYABUSA CO., LTD.
Globeride
Mustad 
Okuma
Pure Fishing, Inc.
13 Fishing

In Chapter 4 and Chapter 14.2, on the basis of types, the Fishing Hooks market from 2018 to 2029 is primarily split into:

Large Size
Small Size

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Fishing Hooks market from 2018 to 2029 covers:

Specialty and Sports Shops
Department and Discount Stores
Online Retail

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)