CAGR 6.8% | Online Sales and Eco-Conscious Anglers Drive Fishing Equipment Market Growth by 2030

The global fishing equipment market is expected to reach US$ 22.2 billion by 2030, with an annual growth rate of more than 6.8%, mainly driven on the back of surging outdoor enthusiasm and tech innovation.

According to RationalStat's recent industry analysis, the Global Fishing Equipment Market value is estimated at US$ 14.0 billion in 2023 and is expected to rise at a strong CAGR of over 6.8% over the forecast period of 2023-2030.

Market Definition, Market Scope, and Report Overview

The tools, gear, and accessories used in fishing are referred to as fishing equipment. It includes a wide range of goods meant to help fisherman catch fish. The type of fishing, the target species, and the fishing habitat all influence the equipment used. Fishing rods, reels, lines, hooks, lures, bait, tackle boxes, fishing clothes, and accessories such as nets and fish finders are all common pieces of fishing equipment.

Fishing is a popular recreational sport enjoyed by millions of people throughout the world. Furthermore, it is an important source of income for many communities that rely on fishing for sustenance or economic needs. The enormous appeal of fishing fuels global demand for fishing equipment.

According to a deep-dive market assessment by RationalStat, the global fishing equipment market has been analyzed on the basis of market segments, including type, nature, end user and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

• Market intelligence for the global fishing equipment market covers market sizes on the basis of market value (US$/EUR Million), volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

• In addition, the long-term sector and products/services 10-year outlook and its implications on the global Fishing Equipment market. It also includes the industry's current state - Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Fishing Equipment Market: Segmental and Market Share Analysis

• On the basis of nature, freshwater segment is expected to dominate with a CAGR of 3.5% due to the availability of modest quantities of dissolved salts and other total dissolved solids.

• On the basis of end user, sports organizers held the largest market share to expand at a CAGR of 3.8%. It plays a pivotal role in the growth trajectory of the global fishing equipment market.

Report Synopsis
Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 14.0 billion
Market Size Forecast US$ 22.2 billion
Growth Rate 6.8%
Dominant Segment Freshwater
Dominant Region North America

Key Market Drivers
• Increasing disposable income
• Global popularity of fishing
• Technological advancements

Companies Profiled
• Shimano Inc
• Newell Brands Inc.
• Rapala VMC Corporation
• Pure Fishing Inc.
• Globeride International, Inc.
• Eagle Claw Fishing Tackle Company
• Berkley Fishing LLC
• Okuma Fishing Tackle, Inc.
• KastKing Fishing, LLC
• Piscifun Fishing Tackle Co., Ltd.
• Fishing, LLC
• Ugly Stik Fishing, LLC
• St. Croix Rods
• Daiwa Corporation

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Competition Analysis and Market Structure

Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global fishing equipment market include.

• In August 2022, Vista Outdoor Inc. the parent company of 41 renowned brands that design, manufacture, and market sporting and outdoor products to consumers across the globe, announced the acquisition of Bozeman, Mont.-based Simms Fishing Products for a purchase price of US$ 192.5 million.

Some of the prominent players and suppliers operating and contributing significantly to the global fishing equipment market growth include Shimano Inc, Newell Brands Inc., Rapala VMC Corporation, Pure Fishing Inc., Globeride International, Inc., Eagle Claw Fishing Tackle Company, Berkley Fishing LLC, Okuma Fishing Tackle, Inc., KastKing Fishing, LLC, Piscifun Fishing Tackle Co., Ltd., Fishing, LLC, Ugly Stik Fishing, LLC, St. Croix Rods, and Daiwa Corporation, among others.

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RationalStat has segmented the global fishing equipment market based on type, nature, end user and region

• Global Fishing Equipment Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Type
o Hooks
o Lines
o Sinkers & Floats
o Rods
o Reels
o Nets & Traps
o Spears & Gaffs
• Global Fishing Equipment Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Nature
o Fresh Water
o Salt Water
o Fly Fishing
• Global Fishing Equipment Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by End User
o Individual Consumers
o Clubs
o Sports Organizers
• Global Fishing Equipment Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Region
o North America Fishing Equipment Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 US
 Canada
o Latin America Fishing Equipment Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Brazil
 Mexico
 Rest of Latin America
o Western Europe Fishing Equipment Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Germany
 UK
 France
 Spain
 Italy
 Benelux
 Nordic
 Rest of Western Europe
o Eastern Europe Fishing Equipment Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Russia
 Poland
 Hungary
 Other CIS Countries
 Rest of Eastern Europe
o Asia Pacific Fishing Equipment Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 China
 Japan
 India
 South Korea
 Australia
 ASEAN
• Indonesia
• Thailand
• Philippines
• Vietnam
• Malaysia
• Rest of ASEAN
 Rest of Asia Pacific
o Middle East & Africa Fishing Equipment Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 GCC
• Saudi Arabia (KSA)
• United Arab Emirates (UAE)
• Rest of the GCC
 South Africa
 Nigeria
 Turkey
 Rest of the Middle East & Africa

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Key Questions Answered in the Fishing Equipment Report:
• What will be the market value of the global Fishing Equipment market by 2030?
• What is the market size of the global Fishing Equipment market?
• What are the market drivers of the global Fishing Equipment market?
• What are the key trends in the global Fishing Equipment market?
• Which is the leading region in the global Fishing Equipment market?
• What are the major companies operating in the global Fishing Equipment market?
• What are the market shares by key segments in the global Fishing Equipment market?

Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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