| Global Sports Fishing Equipment Market Overview
The global sports
fishing equipment market has experienced significant growth, reaching a
valuation of USD 14.4 billion in 2024. This expansion is fueled by the
rising popularity of recreational fishing and a growing inclination towards
outdoor activities. As per industry forecasts, the market is expected to
maintain its growth trajectory, reaching USD 20.1 billion by 2033,
reflecting a CAGR of 3.84% during the period 2025-2033.
STUDY ASSUMPTION YEARS:
- Base
Year: 2024
- Historical
Years: 2019-2024
- Forecast
Years: 2025-2033
SPORTS FISHING EQUIPMENT MARKET KEY TAKEAWAYS:
- The
market is projected to expand from USD 14.4 billion in 2024 to USD 20.1
billion by 2033, registering a CAGR of 3.84%.
- Cutting-edge
innovations like electric-powered reels and sustainable materials are
revolutionizing the fishing experience and driving demand.
- North
America holds a dominant position, supported by a high base of
recreational anglers and demand for advanced gear. Meanwhile, Asia
Pacific is witnessing rapid growth due to increased tourism and
outdoor interest.
- Product
offerings encompass a wide range of items including fishing rods,
reels, hooks, lures, lines, rigs, jig heads, and other accessories for
freshwater and saltwater fishing environments.
- Leading
companies include AFTCO Mfg. Co., Inc., Gamakatsu USA, GLOBERIDE Inc.,
Newell Brands, O. Mustad & Son Pte Ltd., OKUMA FISHING TACKLE CO.,
LTD., Rapala VMC Corporation, and Shimano Inc.
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MARKET GROWTH FACTORS:
1. Recent Advancements in Technology:
Original fishing equipment is changing how fishermen see things. Launched
by PENN in July 2024, the Fathom Electric Lever Drag Cordless Fishing Reel, for
instance, boasts a built-in battery, high-torque motor, LED display, and
customizable settings. These characteristics boost performance in deep-sea
applications and kite fishing, attracting both experienced and novice users.
2. Improved Disposal of Income:
Rising worldwide disposable incomes have increased the affordability of
premium fishing equipment. Enthusiasts may now purchase high-quality goods,
therefore improving their fishing experiences. Furthermore driving market
demand, the growth in coastal tourism is promoting participation in
recreational fishing tournaments.
3. Environment Awareness and Sustainability:
Rising knowledge of environmental sustainability is driving consumers to
pick environmentally friendly fishing gear. Companies are answering with
equipment that strikes a balance between performance and environmental
awareness. Such events as the Abu Dhabi International Hunting and Equestrian
Exhibition (ADIHEX) set for August 2024 are fostering sustainable innovation in
the business.
MARKET SEGMENTATION:
By Product Type:
- Fishing
Rods: Precision tools for casting and maneuvering fishing lines.
- Fishing
Reels: Essential for retrieving and storing fishing lines, attached to
rods.
- Fishing
Hooks: Curved instruments used to catch fish via impalement.
- Fishing
Lures: Artificial baits mimicking prey to attract fish.
- Fishing
Lines: Connects the rod and reel to the hook for effective angling.
- Fishing
Rigs: Combined setups of lures, hooks, and tackle components.
- Fishing
Jig Heads: Weighted hooks paired with soft baits for jigging.
- Others:
A variety of accessories used during fishing activities.
By Application:
- Freshwater
Fishing: Fishing in rivers, lakes, and streams using gear designed for
non-saline water.
- Saltwater
Fishing: Requires corrosion-resistant equipment suited for sea and
ocean fishing.
By End User:
- Individual
Consumer: Hobbyist anglers acquiring gear for personal enjoyment.
- Clubs:
Groups organizing shared fishing outings and recreational events.
- Sports
Organizers: Entities conducting professional angling competitions.
By Distribution Channel:
- Specialty
and Sports Stores: Focused outlets offering a broad selection of
fishing equipment.
- Departmental
and Discount Stores: Multi-product retailers that stock fishing gear
at competitive prices.
- Online
Stores: Digital marketplaces providing convenient access and a wide
inventory.
- Others:
Includes direct sales, mail orders, and alternative retail methods.
Breakup by Region:
- North
America (United States, Canada)
- Asia
Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe
(Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin
America (Brazil, Mexico, Others)
- Middle
East and Africa
REGIONAL INSIGHTS:
North America dominates the sports fishing equipment
market, backed by a rich angling tradition and a variety of fishing
destinations. High recreational fishing participation, governmental support for
sustainable practices, and advancements in equipment technology are key drivers
in the region. Additionally, increased consumer expenditure on premium fishing
gear is boosting regional growth.
RECENT DEVELOPMENTS & NEWS:
The industry is experiencing rapid innovation and a shift
toward eco-conscious practices. PENN’s July 2024 debut of the Fathom
Electric Lever Drag Cordless Fishing Reel introduced advanced features
ideal for deep-sea use. Furthermore, the ADIHEX event in August 2024
spotlighted sustainable fishing tools, underlining the sector’s commitment to
environmental stewardship and responsible recreation.
KEY PLAYERS:
- AFTCO
Mfg. Co., Inc.
- Gamakatsu
USA
- GLOBERIDE
Inc.
- Newell
Brands
- O.
Mustad & Son Pte Ltd.
- OKUMA
FISHING TACKLE CO., LTD.
- Rapala
VMC Corporation
- Shimano
Inc.
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