DUBLIN, March 16, 2022–(BUSINESS WIRE)–The “Fishing Equipment Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Type (Fishing Rods, Nets & Traps, Hooks, Reels, Fishing Lines, Sinkers and others) and distribution channel (Supermarkets and hypermarkets, specialty stores, online retail and others)” has been added to from ResearchAndMarkets.com offer.

The global fishing gear market is expected to grow from US$23,799.79 million in 2021 to US$31,835.53 million by 2028; it is estimated to register a CAGR of 4.2% from 2021 to 2028.

Rising participation in recreational fishing and growing fish-based tourism in developing countries are the major factors attributed to drive the fishing equipment market during the forecast period.

Based on type, the fishing equipment market is segmented into fishing rods, nets and traps, hooks, reels, fishing lines, sinkers and others. The fishing rod segment accounted for the largest market share in 2020. Growing number of anglers and increasing adoption of fishing as a recreational activity fueled the demand for fishing rods. Based on the distribution channel, the fishing equipment market is segmented into supermarkets & hypermarkets, specialty stores, online retail and others. The specialty store segment is expected to grow as staff are knowledgeable enough to explain product benefits and specifications to customers so they can find the product they are interested in; this attracts a fixed set of customers who later become repeat buyers.

Europe fishing equipment market is expected to grow at the highest CAGR over the forecast period. The growth of sports and recreational activities and the rise of e-commerce platforms are fueling the growth of the market in European countries. Europe is considered to be one of the growing markets for fishing equipment due to the boom in recreational fishing and anglers in the region. Thus, due to an increasing trend of recreational fishing in the country, the demand for fishing rods, hooks, nets, traps and fishing lines is increasing and driving the fishing equipment market in the region .

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Reasons to buy

• Highlights key business priorities to help companies realign their business strategies.

• Presents key findings and crucial progressive industry trends in the global Fishing Equipment Market, thereby allowing players to develop effective long term strategies.

• Develops/modifies business expansion plans using substantial growth offering from both developed and emerging markets.

• Scrutinize in-depth market trends along with key market drivers and restraints.

• Improves the decision-making process by understanding the strategies that drive business interest with respect to products, segmentation, and industry verticals.

Market dynamics

Drivers

Constraints

Opportunities

Future trends

Companies cited

• Eagle Claw Fishing Tackle Co.

• Okuma Fishing Tackle Co.Ltd.

• Decathlon SA

• SHIMANO INC.

• TICA FISHING EQUIPMENT

• AFTCO.

• RAPALA MVC CORPORATION

• Weihai Guangwei Group Co., Ltd

• Daiwa

• Pure Fishing Inc.

For more information about this report visit https://www.researchandmarkets.com/r/cmeix7

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220316005550/en/

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