Sports Fishing Equipment Market 2022 Share, Size, Growth, Trends and Forecast 2027

According to the latest report by IMARC Group, titled "Sports Fishing Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global sports fishing equipment market size reached US$ 12.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 16.4 Billion by 2027, exhibiting a growth rate (CAGR) of 4.5% during 2022-2027.

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.

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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. 

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List of Key Companies Covered in this Market Report:

AFTCO Mfg. Co., Inc.
Gamakatsu USA
GLOBERIDE Inc.
Newell Brands
O. Mustad & Son Pte Ltd.
OKUMA FISHING TACKLE CO.LTD.
Rapala VMC Corporation 
Shimano Inc.

Report Segmentation:

The report has segmented the market into the following categories

Breakup by Component:

Services
Software

Breakup by Deployment Type:

On-premises
Cloud-based
Hybrid

Breakup by End-User:

Government/Federal Agencies, Legal and Regulatory Firms
Enterprises

Breakup by Vertical:

BFSI
Retail and Consumer Goods
Manufacturing
Legal
IT and Telecommunication
Government
Energy and Utilities
Healthcare and Life Science
Others

Breakup by Geography:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Key highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

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