Global Fishing Gear Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

The Fishing Gear market is experiencing robust expansion, with market size projected to increase from XX billion in 2023 to xx billion by 2030, demonstrating a consistent year-over-year growth rate of 4.3%. Fishing Gear Market Size, Share, Competitive Landscape and Trend Analysis Report, by Types (Hooks, Lines, Sinkers & Floats, Rods, Reels, Nets & Traps, Spear & Gaffs, Baits & Lures, Others), by applications (Individual Consumers, Clubs, Sports Organizers) And regions (North America(United States.Canada.Mexico), South America(Brazil.Argentina.Chile.Rest of South America), Europe(Germany.France.Italy.United Kingdom.Benelux.Nordics.Rest of Europe), Asia Pacific(China.Japan.India.South Korea.Australia.Southeast Asia.Rest of Asia-Pacific), MEA(Middle East.Africa)) : Industry Forecast and Opportunity Analysis for 2023 - 2030

The fishing gear market at a global scale covers separate or combined systems used for both leisure and industrial fishing. That is rods and lines, reels and hooks, lures, baits, dip nets, and other related apparatus. The market addresses the different techniques of fishing, such as hands, fresh and saltwater, flying, and ice fishing. Fishing, though, remains one of the most popular pastimes and an accessible source of food and income; this has led to a rise in demand for quality fishing equipment. More technological change, shifts in the wants of the consumers, and angler backlash against pollution have led to an increase in innovation in the fishing tackle sector.

Fishing Gear Report Highlights

Report Metrics	Details
Forecast period	2019-2030
Base Year Of Estimation	2023
Growth Rate	CAGR of 4.3%
By Product Type	Hooks, Lines, Sinkers & Floats, Rods, Reels, Nets & Traps, Spear & Gaffs, Baits & Lures, Others
Key Market Players	Daiwa Corporation Eagle Claw Fishing Tackle Co. Jarvis Walker Pty, Inc. Johnson Outdoors Inc. Maver UK Ltd Okuma Fishing Tackle Co., Ltd Others Pradco Outdoor Brands Pure Fishing, Inc. Rapala VMC Corporation Rome Specialty Company, Inc. Sea Master Enterprise Co., Ltd. Tica Fishing Tackle
By Region	North America(United States.Canada.Mexico) South America(Brazil.Argentina.Chile.Rest of South America) Europe(Germany.France.Italy.United Kingdom.Benelux.Nordics.Rest of Europe) Asia Pacific(China.Japan.India.South Korea.Australia.Southeast Asia.Rest of Asia-Pacific) MEA(Middle East.Africa)

Fishing Gear Market Trends

The technological advancement and changing consumer preferences are driving significant trends in the fishing gear market. The latest trend is the use of smart fishing gear, which includes fish finders, GPS-enabled devices, and even application-integrated tackle boxes. These new innovations make the fishing experience much more productive by giving real-time information on fish locations, water conditions, and environmental factors that appeal to both recreational and professional anglers. A key trend is the increase in online retail and e-commerce platforms that are enhancing access to fishing gear for the greater percentage of the population. With more and more people shifting toward shopping online due to the convenience it offers and variety, retailers are going streamlined with their online presence while offering all the products, from rods and reels to apparel and accessories. Social media and influencer marketing have also acted as significant factors in deciding consumer preference and pushing up sales of fishing gear because of such experiences, tips, and reviews that these enthusiasts shared. These trends show that the marketplace for fishing gear is constantly undergoing change, adaptation, as well as evolution with regard to technological development and the new behaviours of consumers while supporting sustainability and accessibility.

Fishing Gear Market Leading Players

The key players profiled in the report are Daiwa Corporation, Eagle Claw Fishing Tackle Co., Jarvis Walker Pty, Inc., Johnson Outdoors Inc., Maver UK Ltd, Okuma Fishing Tackle Co., Ltd, Others, Pradco Outdoor Brands, Pure Fishing, Inc., Rapala VMC Corporation, Rome Specialty Company, Inc., Sea Master Enterprise Co., Ltd., Tica Fishing Tackle

Growth Accelerators

The fishing equipment market is sustained by a primary driver: increasing acceptance and appreciation of angling activities, which has experienced significant growth across different regions. As several individuals are engaged in seeking other activities away from the cocoon of their homes, the need for sophisticated fishing equipment such as rods, reels, tackles, and others has increased. It is also interesting to note that owing to the presence of several social media platforms, almost everyone who is exposed to fishing content has developed an interest in it, and thus more people are buying equipment for the sport. This aspect is also complemented by improvements in technology in the fishing gear industry, for instance, smart devices for fishing and sustainable materials, which make the sport more inviting and easier for more people. Another key driver is the growing attention dedicated to preventing overfishing and protecting aquatic ecosystems by means of policies and practices. With the rise of environmental consciousness, both leisure and commercial fishermen are looking to use less intrusive fishing equipment, such as fishing lines made from biodegradable materials and using environmentally friendly bait. This transition is not only regulatory but also appeals to the segment of consumers who have a strong sense of ethical consumption.

Fishing Gear Market Segmentation analysis

The Global Fishing Gear is segmented by Type, Application, and Region.
By Type, the market is divided into Distributed Hooks, Lines, Sinkers & Floats, Rods, Reels, Nets & Traps, Spear & Gaffs, Baits & Lures, Others . The Application segment categorizes the market based on its usage such as Individual Consumers, Clubs, Sports Organizers. Geographically, the market is assessed across key Regions like North America(United States.Canada.Mexico), South America(Brazil.Argentina.Chile.Rest of South America), Europe(Germany.France.Italy.United Kingdom.Benelux.Nordics.Rest of Europe), Asia Pacific(China.Japan.India.South Korea.Australia.Southeast Asia.Rest of Asia-Pacific), MEA(Middle East.Africa) and others, each presenting distinct growth opportunities and challenges influenced by the regions.

Competitive Landscape

The global fishing gear market is exhibiting a highly competitive environment with many manufacturers and greater emphasis on product development. The few players likely include Shimano, Daiwa Corporation, and Pure Fishing, Inc, who even dominate the sales of the products in their envelope of rods, reels, and tackles. The revenue is forecast to grow from USD 1.39 billion in the year 2023 to USD 1.94 billion by the year 2031, due to an increase in the rates of recreational fishing and unfished water bodies coupled with new inventions in fishing technology such as smart fishing resources and green materials. Companies are spending a lot of time and resources on enhancing quality due to competition, especially in the market that is already crowded with various players. Moreover, the emergence of e-commerce websites enables users to purchase fishing equipment easier than before, creating opportunities for new small brands without retail shops. This scenario has increased rivalry within the industry, as the incumbents are forced to cultivate their online market and enable the consumers to interact with them more. Additionally, the quest for environmental sustainability by the consumers is a crucial factor that is influencing the products that manufacturers are producing, thus developing non-ecofriendly products as much as possible. Based on the prevailing market forces, growth does not only connote that there are any modern provisions but also interaction with old fashion skills and techniques; this therefore defines the manufacturing and sales of fishing equipment in the future.

Challenges In Fishing Gear Market

The fishing equipment market is affected by various problems, most of which are environmental and ecological policies. Due to concerns over excessive fishing and destruction of ecosystems, the fishing industry has experienced changes in regulations guiding the practice of fishing as well as the type of equipment used by the manufacturers. Over that period, manufacturers had to modify their products to comply with tighter environmental regulations on the use of materials. Such enhancements call for heavy capital injection into R&D for more effective and non-degrading fishing devices, which can be a hindrance for some companies due to lack of funds for such reforms. High competitiveness and pressure on prices are also a problem that is experienced in the fishing gear market. There are so many brands and products in the market that companies have no option but to cut prices, which automatically compresses profits and discourages investment destinations in quality and innovation. In addition, variations in customer behaviour and market dynamics tend to produce demand volatility that results in erratic sales, thus jeopardising the ability of the producers to sustain constant production rates. Changes in this aspect of the consumer market have forced companies to employ because of the growing availability of online retailing, which enhances the need for e-commerce strategies, making market characteristics more complex.

Risks & Prospects in Fishing Gear Market

The fishing gear business is expected to grow, notably owing to rising interest in recreational fishing as well as the need for more sustainable principles in the practice. Fishing rods, reels, and tackle, plus other accessories, are also welcomed into the market, which is bound to grow as more and more people engage in outdoor activities and leisure-seeking. Besides, the increasing number of green consumers has led manufacturers to come up with more technologies to come up with fishing equipment and gear made from sustainable materials, which presents an opportunity for products with low environmental performance. Also, the enhancement of technology is creating more opportunities for the fishing tackle business. Smart technologies like GPS, fish finders, and electronic reels, among other devices, have improved the fishing experience for both amateur and professional tournaments. Such developments make the sport more efficient and effective and appeal to the younger generation involved with technology. In addition, more people are also able to purchase more fishing gear as the companies developing them are incorporating strategies like online retailing.

Key Target Audience

The fishing and equipment market is mainly focused on recreational sporting fishermen looking for high-grade gear to improve their fishing activities. This audience comprises a wide range of people, including normal, weekend fishermen, and hardcore enthusiasts in fishing tournaments. They want specialised equipment such as fishing poles, fishing reels, baits and lures, and fishing tackle that are suited for different types of fishing, be it fresh water or saltwater, fly or ice fishing, active or passive fishing. With the growing trend in outdoor activities, this segment encourages the use of creative and strong fishing paraphernalia as part of the fishing experience.,, Another key audience segment is made up of commercial fishermen and fishing industry people who need advanced gear for accomplishments in fishing business. This includes commercial fishing vessels, farms, and fishing charters, all of which demand equipment that is heavy-duty and of high quality. Also, the stakeholders in this market include the retailers and online selling sites that deal with fishing equipment, which are also called targeted customers as they assist in passing the products to the final customers. The market is also enhanced by the growing concern of some consumers on how fishing should be done sustainably, hence also being interested in eco-friendly fishing gear.

Merger and acquisition

The recent trends in the fishing tackle market show that the mergers and acquisitions are geared towards product development and market penetration. For instance, in January 2024, Shimano, one of the largest fishing tackle manufacturers in the world, disclosed that it had incorporated G. Loomis, which is a leading grass fishing performance sea rods manufacturer. This was most probably to take advantage of G. Loomis’s quality image and innovative capabilities in order for Shimano to expand its range and service more customers among anglers. In addition, Pure Fishing Inc. has also been on a purchasing spree for many smaller brands of fish gear, which is aimed at a more responsible type of fishing, particularly in view of the increasing consumer interest in pollution-free fishing equipment. Furthermore, such strategic alliances are becoming more and more popular among the firms looking for better markets and advanced technologies. For example, in March of 2024, Rapala VMC Corporation signed a partnership agreement with Johnson Outdoors to develop and manufacture a new type of fishing lure fitted with tracking technologies. The purpose of this initiative is to attract young people more interested in modern technologies and fishing equipment. Since it is believed that the global fishing gear market will significantly develop and will reach around USD 17.29 billion by the year 2028, such mergers and alliances are important for the companies that are striving to bring forth new concepts to their operation in the face of changing consumer needs and the competition.