Global Sport Fishing Equipment Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

“Global Sport Fishing Equipment Market’ is an upcoming report offered by MarketResearch.biz. The global sport fishing scenario is being mapped and top players tracked in terms of revenue, strategies, recent developments in the field, as well as top angling and fishing destinations and sales and revenues of equipment in major countries across the world. The report will deliver detailed insights and vital data and information on the target market. Key trends, drivers, restraints, opportunities, and threats, and details of key companies offering sport fishing equipment, along with their respective financials, strategies, and acquisitions and mergers etc., are included in the company profile section of the report. The report has been segmented on the basis of product type, end user, distribution channel, and region. Regions are further sub-segmented as per country, and revenue for all segments has been presented in tables and figures, and write-ups of supporting facts is also provided. The base year upon which we have evaluated and conducted the study is 2019. The forecast provided is 2019 across to 2028. Year-on-year revenues and Compounded Annual Growth Rate (CAGR) has also been provided.

Overview

Sport fishing equipment includes products such as fishing rods, fishing reels, fishhooks, lines, various types of baits, lures, and sinkers etc. The equipment used for commercial fishing is mostly different from that used in sport fishing, but some concepts remain standard. Sport fishing equipment sales has been witnessing a spurt in the recent past. The sport fishing equipment market is highly fragmented, but highly competitive, owing to presence of a large number of companies operating in the sport fishing equipment market. Sales from fishing rods continues to remain on the top, with hooks, lines, sinkers, lures, and rods, among others close behind. North America continues to maintain the lead in terms of revenue, with the US and Canada contributing majorly to this share in the global market. The UK is projected to maintain the lead in terms of revenue from sales of sport fishing equipment, while the market for sport fishing equipment in Asia Pacific is projected to register a rapid annual growth rate.

Dynamics

The popularity of sport fishing has been growing at a rapid pace globally. The number of fishing associations and recreational fishing clubs has also been growing in parallel. Anglers and sports fishermen of all ages are investing more time and funds to pursue the sport. For some it is for the sheer thrill and adrenaline rush to go out to sea and hook and fight to land as big a fish on as thin a line as possible. Companies manufacturing sport fishing gear and equipment are capitalizing on the potential sales through e-Commerce platforms. This channel has been gaining major popularity among consumers owing to factors such as convenience to make a purchase from the comfort of home or anywhere using a PC or a smartphone or connected device, ability to check consumer reviews, comparison of a range of brands and products, and offers of discounts, apart from free home delivery. In addition, a number of companies tie up with travel and recreational associations and companies or clubs and offer to sponsor sport fishing competitions, which in turn brings along benefits, including prize money, media coverage and better visibility, apart from other benefits and advantages.

In addition, the rising popularity of fishing as a sport and/or recreational activity has prompted governments is countries such as the US and the UK to expand fishing platforms as fishing can bring in significant revenue as a tourist offering.

Global Sport Fishing Equipment Market Segment Analysis:

By Product Type: Among the product type segments, the fishing rods segment is expected to continue to dominate in terms of sales and revenue share. Fishing rods, reels, lures, and hooks are the most widely sold products across the globe.

By End user: The individual consumers segment among the end use segments accounts for relatively high revenue share in the global market, followed by the clubs end user segment.

By Distribution Channel: The franchised sports outlet channel is projected to maintain its dominance in terms of sales and revenue share in the market over the forecast period.

Global Sport Fishing Equipment Market Regional Analysis:

The market for sport fishing equipment in North America continues to dominate in terms of revenue share in the global market. Sport fishing is a popular hobby or pastime of a large base of individuals. The US and Canada predominantly lead in terms of sales of sport fishing equipment, as compared to other countries and regions. Advancements in materials used for manufacturing these products has been resulting in more individuals taking up the sport. The market in Asia Pacific is projected to register rapid CAGR in terms of revenue over the forecast period. This projected growth is attributable to increasing Internet penetration and launch of more e-Commerce platforms offering products on discount, growing popularity of live streaming adventure and travel videos, especially among younger individuals, and increasing spending capacity among consumers in countries in the region. The Europe market is projected to register moderate revenue growth owing to changing demographics.

Global Sport Fishing Equipment Market Segment Analysis:

By product type:

• Fishing Rods
• Fishing Reels
• Fishing Hooks
• Fishing Lures
• Fishing Lines
• Fishing Rigs
• Fishing Jig Heads
• Others

By End User:

• Individual Consumers
• Clubs
• Sports Organizers

By Distribution Channel:

• Independent Sports Outlet
• Franchised Sports Outlet
• Modern Trade Channels
• Direct to Customer Brand Outlet
• Direct to Customer Online Channel

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

• Aftco Mfg. Co., Inc.
• Daiwa Corporation
• Eagle Claw Fishing Tackle Co.
• Eppinger Mfg. Co.
• Gamakatsu Co., Ltd.
• Grandt Industries, Inc.
• Jim Teeny, Inc.
• Koppers Fishing and Tackle Corp.
• Mustad & Son A.S.
• Okuma Fishing Tackle Corporation
• Plano Synergy Holdings, Inc.
• PRADCO Outdoor Brands, Inc.
• Pure Fishing, Inc.
• Abu Garcia
• Berkley