Latest News- Fishing Equipment Market: Fishing rod is expected to lead the Product segment during 2025-2029

The Fishing Equipment Market is being driven by Increase in recreational fishing activities

The Fishing Equipment Market is expected to grow at a CAGR of 2.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2542.2 million. Companies in the global fishing equipment market are implementing strategic initiatives to expand their customer base and sales. One such strategy is the provision of customized fishing equipment, catering to the unique needs of buyers. Customization not only helps companies meet specific customer demands but also fosters stronger relationships. Innovative Reel Technologies, for instance, offers customized fishing reels through its patent-pending design. This trend towards personalized fishing equipment is expected to stimulate demand and boost sales, thereby propelling the market's growth trajectory throughout the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Fishing rod
  • Fishing reel
  • Fishing lure
  • Others
• Application
  • Recreational
  • Commercial
• Type
  • Saltwater fishing equipment
  • Fresh water fishing equipment
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
    • India
    • Japan
  • South America
    • Brazil
  • Middle East and Africa
    • South Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in recreational fishing activities
• Increasing demand of seafoods
• Rising disposable income

However, the market also witnesses some limitations, which are as follows:

• Preference for pre-used and rental variants of fishing equipment
• Potential issues associated with fishing
• Environmental concerns and overfishing

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Market Scope in Fishing Equipment Market Research Report

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Research Analysis Overview

The fishing equipment market encompasses a range of tools and technologies used in various fishing practices, from recreational angling to commercial operations. Key equipment includes nets, rope, line, floats, traps, hooks, winches, and crafts like aircraft and support vessels. Containers are used for transporting equipment. Fishing associations and programs promote sustainable practices, while drones and advanced technologies aid in monitoring the sea floor, food webs, and ecological processes. Anglers target marine life in freshwater, saltwater, and ice conditions using baits, and face challenges such as plastic pollution in both recreational and commercial fishing, from sports fishing events to deep sea expeditions.

Market Research Overview

The fishing equipment segment falls under the broader category of leisure products within the global household durables market. This market encompasses various sectors, including sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-focused games. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers of household durables, which include consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. The expansion of the global leisure products market will be fueled by several factors, including the rise in health and fitness club memberships. This trend has gained momentum over the past decade, with the number of health and fitness clubs continuing to grow due to the industry's promising prospects. Fishing equipment, comprising nets, ropes, lines, floats, traps, hooks, winches, aircraft, support vessels, crafts, containers, and fishing rods, is an essential component of the leisure products market. Online portals have also emerged as a significant distribution channel for fishing equipment, further boosting market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/