Fishing Equipment Market 2021 | Rome Specialty Company, Inc., Daiwa Corporation, Pure Fishing, Inc. 2027
North America accounted for the highest fishing gear market share in 2019 and is expected to grow at a CAGR of 3.8%.
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, USA, Oct. 29, 2022 /EINPresswire.com/ — According to a new report released by Allied Market Research, titled “Fishing Equipment Market by Type, Nature, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021–2027”, Global Fishing Equipment Market Size was valued at $13,481.1 Million in 2019 and is projected to reach $16,107.8 Million by 2027 with a CAGR of 4.0% from 2021 to 2027.
Sport fishing is gaining ground and has spread to many parts of the world. The term sport fishing refers to fishing or collecting shellfish, which is done primarily for fun. Additionally, sport fishing can take place in both salt and fresh water bodies. Also, countries like the UK and the US are trying to elevate the fishing platform, thanks to which there is better access to water bodies for fishing and making it a popular sport. Various fishing associations such as the American Sports Fishing Association encourage people to increase their participation in fishing by organizing several fishing programs and events. Also, the most common types of fishing equipment used in sports are rod, line, reel, hooks and a wide range of bait or lures such as artificial flies. Additionally, owing to the growing popularity of fishing as a sport and recreational activity, various governments around the world are focusing on the development of fishing, which is also driving the growth of the fishing equipment market.
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Additionally, there are a variety of fishing techniques such as gathering, netting, trapping, angling, and spearfishing used to catch the fish. Additionally, recreational, artisanal and commercial fishers use different and sometimes similar techniques. Recreational anglers fish for fun or sport and primarily use angling methods to fish in saltwater and freshwater. Additionally, modern fishing techniques such as electric reels, modern rods and nets have added more precision in fishing techniques. Thus, the increase in effective fishing techniques for fishing further propels the growth of the market. However, PETA (People for the Ethical Treatment of Animals), a charity that operates worldwide and is dedicated to establishing and protecting the rights of all animals, campaigns against angling and has launched a number of initiatives and campaigns designed to turn the general public against fishing and achieve their goals. ultimate goal of banning angling. Additionally, PETA has launched a campaign called “Don’t Let Your Kids Become Prostitutes,” which aims to prevent parents from encouraging their children to fish. Additionally, many NGOs such as Aquaculture Stewardship Council and Fisheries Innovation Scotland are against commercial fishing and fishing gear. Additionally, 40% of the world’s oceans are heavily impacted by human activities, including fisheries depletion, pollution, and coastal habitat loss, making PETA and NGOs more brutal on fishing. Thus, the increasing anti-fishing campaign by NGOs and PETA is limiting the growth of the fishing gear market.
With the increase in internet penetration, the number of social media users has increased significantly. Considering this, most of the key players in the Fishing Equipment market are strategizing to promote their products and services on these social media platforms. E-commerce is one of the major strategies adopted by various businesses and industries to publicize their product offerings among the target customers on the e-commerce channels. Thus, through e-commerce marketing strategy, analysis of the global Fishing Equipment market is a critical opportunity to gain momentum and grow customer base among its target segments.
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Main results of the study
By type, hooks segment dominated the global market in 2019 and is expected to maintain its dominance throughout the forecast period of the fishing tackle market.
By nature, the freshwater segment accounted for the highest share of fishing gear market growth in 2019 and is expected to grow at a CAGR of 3.2% from 2021 to 2027.
By distribution channel, the offline segment dominated the global market in 2019 and is expected to maintain its dominance throughout the forecast period
By region, North America accounted for the highest fishing gear market share in 2019 and is expected to grow at a CAGR of 3.8%.
The major players operating in the fishing equipment industry are Rome Specialty Company, Inc., Daiwa Corporation, Pure Fishing, Inc., Sea Master Enterprise Co., Ltd., Maver UK Ltd, Jarvis Walker Pty, Inc., Pradco Outdoor Brands, Johnson Outdoors Inc., Okuma Fishing Tackle Co., Ltd and Tica Fishing Tackle.
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