Dublin, July 20, 2021 (GLOBE NEWSWIRE) – The “Sport Fishing Equipment – Global Market Trajectory and Analysis” report was added to ResearchAndMarkets.com offer.
Global Sport Fishing Equipment Market To Reach $ 16 Billion By 2027
Amid the COVID-19 crisis, the global sport fishing equipment market estimated at US $ 12.6 billion in 2020, is expected to reach a revised size of US $ 16 billion by 2027, with a CAGR of 3 , 4% over the analysis period 2020 -2027.
Rods, Reels, & Poles, one of the segments analyzed in the report, is expected to register a CAGR of 3.1% and reach $ 6.5 billion by the end of the analysis period. After an initial analysis of the business implications of the pandemic and its induced economic crisis, the growth of Lures, Flies & Baits segment is readjusted to a revised CAGR of 4.7% for the next 7 year period.
The US market is estimated at $ 4.5 billion, while China is expected to grow at 5.9% CAGR
The sport fishing equipment market in the United States is estimated at US $ 4.5 billion in 2020. China, the world’s second-largest economy, is expected to reach a projected market size of US $ 2 billion by 2027, after a CAGR of 5.9% over the analysis period 2020 to 2027.
Other notable geographic markets include Japan and Canada, each expected to grow by 1.8% and 2.3% respectively over the period 2020-2027. In Europe, Germany is expected to grow by around 3.4% CAGR.
Fishing lines segment registers a CAGR of 4.2%
In the global fishing line segment, the United States, Canada, Japan, China and Europe will lead the estimated 4% CAGR for this segment. These regional markets representing a combined market size of US $ 1.1 billion in 2020 will reach a projected size of US $ 1.5 billion by the end of the analysis period.
China will remain among the fastest growing countries in this group of regional markets. Led by countries like Australia, India and South Korea, the Asia-Pacific market is expected to reach $ 1.1 billion by 2027.
Main topics covered:
1. MARKET OVERVIEW
- Disguised opportunity for sports equipment suppliers amid COVID-19
- Impact of COVID-19 on the fishing equipment market
- COVID-19 pandemic leads to shortage of fishing equipment
- An overview of sport fishing equipment
- Types of sport fishing equipment
- Fishing techniques
- Sport fishing equipment: meet the ever-changing needs of recreational fishing, the healthy hobby
- Many Health and Wellness Benefits of Recreational Fishing Drive Widespread Adoption of Fishing Gear
- Top health and well-being benefits of recreational fishing ranked in order of importance
- Global Sport Fishing Equipment Market: Overview and Outlook
- Major technological advances to stimulate growth
- Developed countries traditional income contributors, while developing countries spearhead the growth of the market
- Lures, flies and baits: the fastest growing segment
- Future developments in fishing rods to drive segmental growth
- Competitive landscape: a highly fragmented market
- Shimano: a dominant force in the fishing gear market
- Floating Minnow by Rapala: from invention to commercialization
- Competition: Notable Trends
- Recent market activity
2. FOCUS ON CERTAIN PLAYERS(Total 159 featured)
- Aftco Mfg. Co., Inc.
- Daiwa Company
- Eagle Claw Fishing Tackle Co.
- Eppinger Mfg. Co.
- Gamakatsu Co., Ltd.
- Grandt Industries, Inc.
- Jim Teeny, Inc.
- Koppers Fishing and Tackle Corp.
- O. Mustad & Fils AS
- Okuma Fishing Tackle Corporation
- Plano Synergy Holdings, Inc.
- PRADCO Outdoor Brands, Inc.
- Pure Peach, Inc.
- Rapala VMC Corporation
- Specialized company from Rome, Inc.
- Sea Master Enterprise Co., Ltd.
- Shimano, Inc.
- Sainte-Croix de Park Falls, Ltd.
- Taylor fly fishing
- TICA fishing equipment
- Zebco Holdings, Inc.
3. MARKET TRENDS AND FACTORS
- Constant Proliferation of Connected Electronic Fishing Devices Drives Healthy Market Growth
- Select innovative electronic products related to sport fishing
- Fish finders: useful tools to improve the fishing experience
- Fishing cameras for easy underwater viewing using tablets or smartphones
- Bobbers with integrated Intel chip and wireless connectivity
- Noteworthy Advanced Electronic Fishing Lures
- AngLR Tracker for Fishing Rod
- FishSentry Connected Fishing Rods
- PowerRay Underwater Robot
- FLIR Ocean Scout TK Night Vision Camera
- Humminbird HELIX 10
- Account of individuals for the most part
- Sports organizers stimulate demand
- Fishing clubs raise participation levels
- The passion for the outdoors and the desire to preserve nature drives demand from the population of millennials
- Millennial World Population Facts and Figures: Significant Indicators of Opportunity
- Disruptive technologies that have transformed sport fishing boats over the years
- Focus on developing fisheries infrastructure strengthens market prospects
- The growing popularity of the market expansion of the benefits of kayak fishing
- Consumer influx influences sales of sport fishing equipment
- Growing interest in fishing among women opens avenues for growth
- Ice fishing equipment: equipment to get the most out of the ice fishing mission
- Innovations and advances
- 3D printing streamlines the manufacture of fishing equipment
- Advances in Fly Fishing Reels
- Tippet Innovations reinforces discretion in fly fishing
- Lures mimic the sounds of fish
- Lures with characteristic oscillating action
- Airbomb: a revolutionary baiting device in the air
- Shimano’s first fishing reels
- Innovative fishing accessories
- Other innovative fishing rods, lures and reels
- Fishing bait
- Fishing reels
- Select innovative sport fishing reels
- Fishing rods
- Select innovative sport fishing rods
- Fishing gear and equipment
4. WORLD MARKET PERSPECTIVE
III. MARKET ANALYSIS
- Socio-economic importance of recreational fishing in driving long-term growth in demand for sport fishing equipment
- US fishing line market: monofilament continues to dominate, while braided lines spearhead growth
- Fishing gear in the United States: an evolutionary analysis
- Rising popularity of kite fishing bodes well for market demand
- Technological advances in sport fishing boats
- Freshwater fishing remains the most popular form of fishing
- Favorable demographic trends strengthen market outlook
- Increasing participation of women in sport fishing supports market demand
- Canada: Major Recreational Fishing Center Continues to See Sustained Market Growth
- British Columbia: One of Canada’s Top Sport Fishing Destinations
- China offers significant growth opportunities
- China: a major global producer of sport fishing equipment
- Chinese manufacturers focus on product development and cost reduction
- Europe: selecting growth engines
- Total number of profiled companies: 159
For more information on this report, visit https://www.researchandmarkets.com/r/rwe466