Steady Expansion Forecast for Fishing Market, Projected to Reach $964.73 Billion by 2029

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Fishing Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the size of the fishing industry has seen significant growth. The projections show an increase from $689.33 billion in 2024 to a projected $736.51 billion in 2025, representing a compound annual growth rate (CAGR) of 6.8%. Various factors have contributed to this growth in the historic phase including cultural and traditional habits, economic reliance, worldwide seafood demand, government policies and regulations, tourism, and sport fishing.

Fishing Market Size Forecast: What's the Projected Valuation by 2029?
In the upcoming years, the fishing market size is predicted to experience significant growth, reaching $964.73 billion in 2029 with a compound annual growth rate (CAGR) of 7.0%. Factors contributing to the projected growth during this period encompass sustainable fishing methods, the effect of climate change, eco-certifications and labeling, global demographic growth, and a rise in consumer preference for sustainable seafood. Key trends during this forecast period are expected to be specific customization in fishing equipment, the impact of social media, the emergence of smart fishing technologies, a focus on family-centric fishing activities, and a worldwide surge in fishing tourism.

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What Are the Drivers Transforming the Fishing Market?
The surge in seafood consumption is anticipated to fuel the expansion of the fishing market. Seafood encompasses a range of marine organisms that are human edibles, including but not limited to fish, shrimp, and octopuses. The prime source of seafood is fishing, which is the sole method for capturing varieties of aquatic creatures like cod, perch, salmon, sardines, trout, that form part of the seafood category. This, in turn, fosters the market extension and enhances the access to seafood, thereby stimulating the fishing market. For example, as per the data released by Statistics Iceland, a government agency based in Iceland, in July 2022, the total fish catch for June 2022 was almost 35,000 metric tons, indicating a rise of 14,000 tons as compared to June 2021. Hence, the escalating consumption of seafood is a key driver propelling the growth of the fishing market.

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What Long-Term Trends Will Define the Future of the Fishing Market?
Advancements in technology is a significant trend growing in prominence within the fishing market. Major corporations that compete in this sector are concentrating on crafting unique solutions to consolidate their market presence. For example, Garmin Ltd., an American firm that manufactures marine electronics, unveiled their LiveScope XR System in July 2022. This technology, which is a live-scanning sonar system, produces instantaneous images of fish and other underwater structures up to 350 feet away in saltwater environments. It significantly enhances the sonar range's live capture abilities without compromising on image sharpness or resolution. Its transducer enables simultaneous viewing of both long-range and close-up real-time images. Additional distinctive characteristics of this technology such as built-in stabilization mechanisms to maintain stable sonar images, vivid color schemes, and multiple mode options including forward, down, and perspective modes are worth mentioning.

Which Segments in the Fishing Market Offer the Most Profit Potential?
The fishing market covered in this report is segmented -

1) By Fishing Method Type: Pots And Traps, Line And Pole, Large Nets, Single Line Trolling
2) By Location Type: River, Lake, Sea
3) By Species Type: Clams, Carp, Cord, Tuna, Salmon, Squids, Shrimp, Cephalopod, Groundfish
4) By Distribution Channel: Online, Offline
5) By End-User: Individual Consumers, Clubs, Sports Organizers

Subsegments:
1) By Pots And Traps: Crab Pots, Lobster Traps, Shrimp Traps
2) By Line And Pole: Rod And Reel Fishing, Handline Fishing, Trotline Fishing
3) By Large Nets: Seine Nets, Gill Nets, Purse Seine Nets
4) By Single Line Trolling: Manual Trolling, Mechanical Trolling

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Which Firms Dominate the Fishing Market by Market Share and Revenue in 2025?
Major companies operating in the fishing market include Daiwa Corporation, Johnson Outdoors Inc., Maver UK Limited, Rome Specialty Company Inc., Shanghai Kai Chuang Marine International Co. Ltd., Pure Fishing Inc., Maruha Nichiro Corporation, Nissui Corporation, Thai Union Group Public Company Limited, Mowi ASA, Dongwon Enterprise Co. Ltd., Red Chamber Co., Skretting AS, Trident Seafoods Corp., Austevoll Seafood ASA, Sildarvinnslan HF, Aleutian Spray Fisheries Inc., Sahlman Seafoods Inc., Admiralty Island Fisheries Inc., Beaver Street Fisheries Inc., High Liner Foods Inc., Inland Seafood Inc., Sysco Corporation, Salmar Farming AS, Andrew Marr International Ltd., Grieg Seafood ASA, Marubeni America Corp., Charoen Pokphand Foods Group Co. Ltd., Kyokuyo Co. Ltd., Cooke's fishing division Inc., Bakkafrost P/F, Biofish Holding A/S, Blue Island plc, Brim hf, PT Central Proteina Prima Tbk, PT Cilacap Samudera Fishing Industry Tbk, Clean Seas Seafood Ltd.

Which Regions Offer the Highest Growth Potential in the Fishing Market?
Asia-Pacific was the largest region in the fishing market in 2024 and is expected to be the fastest-growing region in the fishing market report during the forecast period. The regions covered in the fishing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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