Sport fishing equipment market size will increase by USD 2.09 billion | Market Research Insights Highlights Growing Demand for Personalized Learning as a Key Driver
NEW YORK, 22 November 2021 / PRNewswire / – “Sport Fishing Equipment Market by Product and Geography – Forecast and Analysis 2021-2025” has been added to Technavio’s offering. The report presents AFTCO Mfg. Co. Inc., Fairpoint Outdoors AS and Gamakatsu United States Inc. among others as dominant players in the market.
The market is expected to experience an annual growth rate of 1.53% in 2021 and will grow at a CAGR of 2.80% during the forecast period. The report segments the market by product (fishing rod, fishing reel, fishing lure, and others) and by geography (North America, Europe, APAC, South America, and MEA).
See a FREE sample: to know additional highlights and key points on various market segments and their impact in the years to come.
Supplier Information
The global sport fishing equipment market is fragmented due to the presence of several global and regional players.
Suppliers are focused on launching new products supported by innovative technologies to stay competitive in the market and increase their market share.
Some vendors offer customization options in their products to generate customer interest and boost sales.
The report analyzes the competitive landscape of the market and offers information about several vendors of the market, including:
Learn more about the growth strategies adopted by vendors and their product offerings. Read a free sample report.
Geographic market analysis
The report analyzes the market growth in APAC, Europe, MEA, North America, and South America.
North America will become the largest sport fishing market. The region holds 40% of the world market share.
Increasing consumer spending on outdoor recreation will be critical to boosting the sport fishing equipment market in North America.
Countries like the United States, China, France, Germany, the United Kingdom and Japan are expected to become prominent markets for sport fishing equipment during the forecast period.
Learn more about the geographic spread of this market as well as the detailed analysis of major regions. www.technavio.com/report/sports-fishing-equipment-market-industry-analysis
Main market drivers and challenges:
Key factor:
The market is driven by the growing popularity of recreational fishing as a primary growth driver.
Many countries, especially in the Mediterranean region, encourage fishing tourism to generate income and cope with short-term losses.
Such efforts translate into increased individual interest in recreational fishing, which in turn drives sales of sport fishing equipment globally.
Key trend:
The integration of innovative features in sport fishing equipment will be the major trend in the market.
Vendors in the market focus on the development of sport fishing equipment by incorporating various innovative features.
For example, some vendors incorporate sensors into their products that help end users track fishing hot spots.
The introduction of these innovative products will fuel the growth of the market during the forecast period.
See a free sample for highlights on market trends and challenges affecting the sport fishing equipment market.
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Sport Fishing Equipment Market Value Chain Analysis
It includes the following basic components:
Contributions
Inbound logistics
Operations
External logistics
Marketing and sales
Service
Support activities
New arrivals
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Global Stand-up Paddleboarding Market by Product, Distribution Channel and Geography – Forecast and Analysis 2021-2025
Scope of the sport fishing equipment market | |
Cover of the report | Details |
Page number | 120 |
Year of reference | 2020 |
Forecast period | 2021-2025 |
Growth dynamics and CAGR | Accelerate to a CAGR of 2.80% |
Market growth 2021-2025 | $ 2.09 billion |
Market structure | Fragmented |
Annual growth (%) | 1.53% in 2021 |
Regional analysis | North America, Europe, APAC, South America and MEA |
Efficient contribution to the market | North America at 40% |
Main consumer countries | United States, China, France, Germany, United Kingdom and Japan |
Competitive landscape | Leading companies, competitive strategies, reach of consumer engagement |
Profiled companies | AFTCO Mfg. Co. Inc., Fairpoint Outdoors AS, Gamakatsu USA Inc., GLOBERIDE Inc., Grandt Industries Inc., OKUMA FISHING TACKLE Co. Ltd., Pure Fishing Inc., Rapala VMC Corp., Shimano Inc. and Tica Fishing Tackle. |
Market dynamics | Parent Market Analysis, Market Growth Drivers and Obstacles, Analysis of Fast Growing and Slow Growing Segments, Impact of COVID 19 and Future Consumer Dynamics, Analysis of Market Conditions for the Forecast Period. |
Customization | If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize the segments. |
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Technavio is one of the world’s leading technology research and consulting companies. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s report library includes over 17,000+ reports, spanning 800 technologies, spanning 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research and actionable market intelligence to identify opportunities in existing markets. and potentials and assess their competitive positions in changing market scenarios.
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SOURCE Technavio
