Fishing Equipment Market Size, Trends and Growth Analysis by 2027

The global fishing equipment market is projected to expand from US$ 23,799.79 million in 2021 to US$ 31,835.53 million by 2028, reflecting a compound annual growth rate (CAGR) of 4.2% during the period from 2021 to 2028.

Several factors are contributing to this growth, notably the rising interest in recreational fishing and the burgeoning fish-based tourism sector in developing nations. These elements are pivotal in propelling the fishing equipment market forward throughout the forecast period.

The market is categorized by type into various segments, including fishing rods, nets and traps, hooks, reels, fishing lines, sinkers, and others. Among these, the fishing rods segment held the largest share of the market in 2020. The increasing number of anglers and the growing popularity of fishing as a leisure activity have significantly boosted the demand for fishing rods.

In terms of distribution channels, the fishing equipment market is divided into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment is anticipated to experience substantial growth, as the knowledgeable staff can effectively communicate the benefits and specifications of the products to customers. This expertise helps customers find products that meet their needs, fostering a loyal customer base that returns for future purchases.

Regionally, the fishing equipment market in Europe is expected to witness the highest CAGR during the forecast period. The increase in sports and recreational activities, coupled with the rise of e-commerce platforms, is driving market growth across European countries. Europe is emerging as a significant market for fishing equipment, largely due to the growing trend of recreational fishing and the increasing number of anglers in the region. Consequently, there is a heightened demand for fishing rods, hooks, nets, traps, and fishing lines, which is further stimulating the fishing equipment market in Europe.

Key players in the global fishing equipment market include Eagle Claw Fishing Tackle Co., Okuma Fishing Tackle Co. Ltd., SHIMANO INC., TICA FISHING TACKLE, AFTCO, RAPALA VMC CORPORATION, Weihai Guangwei Group Co., Ltd., Decathlon SA, Daiwa, and Pure Fishing Inc.. These companies are instrumental in shaping the market landscape and driving innovation within the fishing equipment sector.

The overall size of the global fishing equipment market has been determined through a combination of primary and secondary research methodologies. The research process commenced with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data pertinent to the market. Additionally, numerous primary interviews were conducted with industry stakeholders to validate the findings and acquire deeper analytical insights. Participants in this research included industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the fishing equipment market.

In summary, the fishing equipment market is on a growth trajectory, driven by increased recreational fishing participation and the expansion of fish-based tourism. The segmentation of the market by type and distribution channel highlights the diverse nature of consumer preferences and purchasing behaviors. With Europe leading the growth in this sector, the involvement of key industry players and thorough research methodologies ensures a comprehensive understanding of market dynamics and future trends.