2025-2034 Fishing Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights

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What Will the Fishing Industry Market Size Be by 2025?
The scale of the fishing industry has seen a substantial increase in recent times. It is projected to expand from $567.01 billion in 2024 to $602.3 billion in 2025, experiencing a compound annual growth rate (CAGR) of 6.2%. The previous growth can be ascribed to factors like traditional and cultural customs, economic reliance, worldwide appetite for seafood, adaptations of government regulations and policies, tourism, and the attractiveness of recreational fishing.

What's the Long-Term Growth Forecast for the Fishing Market Size Through 2029?
The size of the fishing market is anticipated to experience robust expansion in the upcoming years, reaching a worth of $769.7 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 6.3%. The growth predicted for this period can be credited to factors such as sustainable fishing methods, effects of climate change, the prevalence of eco-certifications and labels, the rise in global population, and heightened consumer demand for sustainably harvested seafood. Key trends to watch out during this forecast period encompass customization of fishing equipment, the impact of social media, the emergence of intelligent fishing technologies, the emphasis on family-oriented fishing, and the global proliferation of fishing tourism.

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What Are the Key Growth Drivers Fueling the Fishing Market Expansion?
The escalating demand for seafood is predicted to stimulate the expansion of the fishing market. This encompasses a wide range of marine animals consumed by humans like fish, shrimp, and even octopuses. Fishing serves as the primary source of such seafood. The only way to procure seafood such as cod, perch, salmon, sardines, trout, and various other sea inhabitants is through fishing. This not only widens the market but also enhances the accessibility of seafood, thereby accelerating the fishing market. For example, Statistics Iceland, a government agency of Iceland, reported in July 2022 that the total fish catch for June 2022 stood at approximately 35,000 metric tons, marking a surge of 14,000 tons compared to June 2021. Hence, the growing appetite for seafood is fueling the amplification of the fishing market.

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What Are the Key Trends Driving Fishing Market Growth?
Technological advancements are becoming increasingly prevalent in the fishing industry, a trend that is mainly driven by leading companies aiming to bolster their market presence through innovation. For instance, Garmin Ltd., a marine electronics manufacturer based in the USA, unveiled the LiveScope XR System in July 2022. This innovative live-scanning sonar technology provides real-time imagery of fish and structures up to 350 feet away in saltwater, without compromising on image quality or resolution. The transducer of this new system can deliver long-range as well as nearby views in real time. Noteworthy features of this cutting-edge technology include sonar image stabilization systems, vibrant color palettes, and a selection between forward mode, down mode, and perspective mode.

How Is the Fishing Market Segmented?
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 Companies Are Leading the Charge in Fishing Market Innovation?
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 Are Leading the Global Fishing Market in Revenue?
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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