Increasing Demand For Sea Food Products In Fishing, Hunting, And Trapping Market Driving Market Acceleration in the Fishing, Hunting And Trapping Industry, 2025

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How Large Will the Fishing, Hunting And Trapping Market Size By 2025?
The market size for fishing, hunting and trapping has seen robust growth in the past few years. The value of the market is projected to increase from $1139.58 billion in 2024 to $1218.35 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.9%. The remarkable growth over the historic period can be ascribed to factors such as traditional subsistence, recreational and sport hunting, commercial fishing, conservation and wildlife management, in addition to cultural and heritage practices.

How Big Is the Fishing, Hunting And Trapping Market Size Expected to Grow by 2029?
Significant expansion is foreseen for the fishing, hunting and trapping market in the upcoming years, with projections placing its worth at $1599.89 billion by 2029. This represents a compound annual growth rate (CAGR) of 7.0%. Factors contributing to this growth during the forecast period include an emphasis on sustainability and conservation, the popularity of ecotourism, the implementation of cutting-edge technology like GPS tracking, mobile apps, as well as drone-supported hunting and fishing. Other factors include the impact of climate change and evolving regulations. Noteworthy trends within the forecast period encompass interests such as wildlife photography, catch-and-release fishing, hunting for conservation purposes, ethically and sustainably sourced hunting, along with the rise of farm-to-table initiatives and locally sourced seafood.

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Which Key Market Drivers Powering Fishing, Hunting And Trapping Market Expansion and Growth?
The growth of the fishing, hunting, and trapping market is projected to accelerate due to the escalating demand for seafood products. Seafood products cover a range of foodstuffs extracted from both aquatic flora and fauna present in freshwater and marine ecosystems. Fishing, hunting, and trapping methods are applied to acquire these nutrient-rich seafood products, involving the capture of fish, shellfish, and other water organisms with aids like nets, traps, lines, and fishing vessels. For example, the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), a governmental body based in Australia, reported an 8% rise in the Australian fisheries and aquaculture production to $3.63 billion in 2022-23. This figure is anticipated to grow by 2% in 2023-24, demonstrating a progressive trend. Thus, the rising demand for seafood items is fuelling the expansion of the fishing, hunting, and trapping market.

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Which Fast-Growing Trends Are Poised to Disrupt the Fishing, Hunting And Trapping Market?
Leading businesses in the fishing, hunting, and trapping market are now prioritizing the development of cutting-edge technologies such as artificial intelligence (AI)-guided fish harvesting machines to gain a competitive advantage. This AI-guided fish harvesting machine is more humane and less wasteful compared to conventional fishing methods, and thus plays a crucial role in the industry. For example, Shinkei Systems, a US-based automation company that specializes in fish harvesting automation, introduced an AI-guided fish harvesting machine in July 2022. This innovative machine employs a Japanese fish-killing method, which instantly and humanely kills the fish by inserting a spike into its brain. The machine features a hopper for the arrival of fish, a working area, and an outlet leading to an ice bath. It is equipped with a computer vision system for identifying the species and form of the fish it's handling.

What Are the Emerging Segments in the Fishing, Hunting And Trapping Market?
The fishing, hunting and trapping market covered in this report is segmented -

1) By Type: Fishing, Hunting And Trapping
2) By Application: Sportfishing Association, Fishing Organization, Other Applications

Subsegments:
1) By Fishing: Freshwater Fishing, Saltwater Fishing, Fly Fishing, Ice Fishing, Fishing Gear And Equipment (Rods, Reels, Tackle), Bait And Lures
2) By Hunting And Trapping: Big Game Hunting, Small Game Hunting, Waterfowl Hunting, Predator Hunting, Hunting Gear And Equipment (Rifles, Bows, Ammunition, Clothing), Hunting Accessories (Calls, Decoys, Blinds), Pest Control Trapping, Live Animal Trapping, Trapping Gear And Equipment (Traps, Snares, Cages), Trapping Accessories (Baits, Lures)

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Who Are the Global Leaders in the Fishing, Hunting And Trapping Market?
Major companies operating in the fishing, hunting and trapping market include Nippon Suisan Kaisha Ltd., Maruha Nichiro Corporation, Leroy Seafood Group ASA, Angler's Legacy, American Sportfishing Association, Keep America Fishing Organization, National Association of Sporting Goods Wholesalers, National Rifle Association (NRA), Orvis, Simms Fishing Products, The Orvis Company, Duck Commander, Costa Del Mar, Berkley Fishing, Mossy Oak, G. Loomis, Yeti Holdings, Abel Reels, Sage Fly Fishing, Penn Fishing, St. Croix Rods, Abu Garcia, Pure Fishing, Zebco, Ranger Boats, Winchester Repeating Arms, Mossberg, Browning Arms Company, Federal Premium Ammunition, Benelli Q.J., Kimber Manufacturing, Fabbrica d'Armi Pietro Beretta, Savage Arms, Remington Arms, PSE Archery, Bowtech Archery.

Which are the Top Profitable Regional Markets for the Fishing, Hunting And Trapping Industry?
Asia-Pacific was the largest region in the fishing, hunting and trapping market in 2023. The regions covered in the fighter aircrafts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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