Fishing, Hunting And Trapping Market Growth Accelerates: Strategic Forecast Predicts $1358.25 Billion by 2029

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What Will the Fishing, Hunting And Trapping Industry Market Size Be by 2025?
The market scope of fishing, hunting, and trapping has seen a robust growth over the past few years. The market, currently valued at $995.51 billion in 2024, is projected to expand to $1058.6 billion in 2025, growing at a compound annual growth rate (CAGR) of 6.3%. Factors contributing to this significant growth during the historic period include traditional subsistence, recreational and sport hunting, commercial fishing, conservation and wildlife management, and cultural and heritage practices.

What's the Long-Term Growth Forecast for the Fishing, Hunting And Trapping Market Size Through 2029?
The market size of fishing, hunting, and trapping is predicted to experience substantial growth in the upcoming years. By 2029, the market size is projected to reach $1358.25 billion with a 6.4% compound annual growth rate (CAGR). Factors contributing to this growth for the forecast period include sustainability and conservation, ecotourism, advances in technology such as GPS tracking, mobile applications, and drone-aided fishing and hunting, climate change effects, and regulatory changes. Key trends for the forecast period comprise wildlife photography, catch-and-release fishing, hunting for conservation, ethical and sustainable hunting practices, and farm-to-table and local seafood.

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What Are the Key Growth Drivers Fueling the Fishing, Hunting And Trapping Market Expansion?
The anticipated surge in need for seafood products is predicted to boost the fishing, hunting, and trapping market's expansion. Seafood items speak to a broad assortment of consumables sourced from aquatic fauna and flora taken from freshwater and marine ecosystems. The practices of fishing, hunting, and trapping are applied to acquire these nutrient-rich seafood products. This includes the capture of fish, shellfish, and various water-dwelling organisms using fishing equipment such as nets, lines, and traps. To illustrate, in March 2023, data from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), a government body based in Australia, indicated that local fisheries and aquaculture production rose by 8% to $3.63 billion in 2022-23, with a further increase of 2% expected in 2023-24. Consequently, the escalating consumer demand for seafood products stimulates the growth of the fishing, hunting, and trapping market.

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What Are the Key Trends Driving Fishing, Hunting And Trapping Market Growth?
Leading firms in the fishing, hunting, and trapping market are concentrating their efforts on the creation of innovative technologies. These include artificial intelligence (AI)-guided fish harvesting machines to gain a competitive advantage in the market. These AI-guided machines have a significant impact on the industry as they are more ethical and less wasteful compared to conventional fish harvesting techniques. As an example, Shinkei Systems., a US-based automation company specializing in fish harvesting, introduced an AI-guided fish harvesting machine in July 2022. The machine employs a Japanese method of killing fish instantly and humanely by driving a spike into the brain. It comes with a receiving hopper for the fish, a processing area, and an exit for the processed fish to be placed into an ice bath. Notably, it features a computer vision system able to distinguish the species and shape of the fish it handles.

How Is the Fishing, Hunting And Trapping Market Segmented?
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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Which Companies Are Leading the Charge in Fishing, Hunting And Trapping Market Innovation?
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 Regions Are Leading the Global Fishing, Hunting And Trapping Market in Revenue?
Asia-Pacific was the largest region in the fishing, hunting and trapping market in 2024. 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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