The Fishing Equipment Market size was estimated at USD 12 billion in 2023 and is projected to reach USD 17 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.50% during the forecast period (2024-2030).

Fishing Equipment Market

Market Summary

The fishing equipment market is a dynamic segment within the consumer goods industry, characterized by steady demand from both recreational and commercial fishing sectors. This market encompasses a wide array of products including rods, reels, lines, lures, hooks, and electronic devices like fish finders. The industry is influenced by factors such as increasing participation in recreational fishing activities, technological advancements in gear, and a growing emphasis on sustainable fishing practices. Key market players continuously innovate to enhance product durability, performance, and user experience, catering to a diverse consumer base ranging from amateur anglers to professional fishers. The market demonstrates resilience amid economic fluctuations, supported by a dedicated consumer base and the perennial nature of fishing as a leisure and livelihood activity.

Key Highlights

Notable highlights of the fishing equipment market include the integration of advanced materials such as carbon fiber and graphene in rod construction, significantly improving strength and sensitivity while reducing weight. There is a pronounced trend towards smart fishing technology, with products like GPS-enabled fish finders and app-connected reels gaining traction. Sustainability has become a central focus, leading to the development of eco-friendly fishing lines and biodegradable lures. The market also sees robust growth in online sales channels, expanding consumer access to a global assortment of products. Furthermore, strategic partnerships and acquisitions among leading companies are reshaping the competitive landscape, fostering innovation and market expansion.

Drivers, Opportunities & Restraints

Key drivers propelling the fishing equipment market include rising participation in outdoor recreational activities, supported by promotional initiatives from governments and fishing associations. Technological innovations that enhance fishing efficiency and success rates also stimulate demand. Opportunities abound in emerging markets where disposable incomes are increasing, and fishing is both a popular pastime and essential industry. The growing trend of adventure tourism and competitive fishing tournaments presents additional avenues for market growth. However, the market faces restraints such as stringent regulations on fishing activities aimed at conservation, which can limit certain gear types. Fluctuations in raw material prices and concerns over environmental impact, including plastic pollution from fishing gear, also pose challenges to market players.

Concentration Insights

The fishing equipment market features a concentrated competitive landscape with a handful of major players holding significant market share. Prominent companies such as Shimano, Pure Fishing, Rapala VMC Corporation, and Daiwa dominate the industry through extensive product portfolios and strong brand recognition. These industry leaders maintain their positions via continuous investment in research and development, focusing on product innovation and material science. Market concentration is also evident in regional strongholds, with North America and Asia Pacific being key territories for manufacturing and consumption. Smaller companies often carve out niches by specializing in specific product categories or catering to local market preferences, but the overall market remains influenced by the strategies of its largest participants.

Type Insights

The fishing equipment market is segmented by product type into rods, reels, lines, lures, hooks, and electronics. Fishing rods are further categorized based on action, power, and material, with composite rods gaining popularity for their balanced performance. Reels include spinning, baitcasting, and fly variants, each designed for specific fishing techniques and environments. Fishing lines vary by material, including monofilament, fluorocarbon, and braided options, offering different strengths and invisibility in water. Lures are designed to mimic prey and attract fish, available in hard baits, soft plastics, and natural baits. Electronic equipment such as fish finders and GPS devices have become integral for modern anglers, enhancing fishing efficiency through technology.

Application Insights

Applications within the fishing equipment market are broadly divided into freshwater and saltwater fishing, each demanding specialized gear due to differing environmental conditions. Freshwater fishing, conducted in lakes, rivers, and streams, typically utilizes lighter equipment suited for species like bass, trout, and panfish. Saltwater fishing, occurring in oceans and seas, requires more robust and corrosion-resistant gear to handle larger species such as marlin, tuna, and saltwater game fish. Additionally, there is a distinct segment for ice fishing equipment, designed for low-temperature durability. The commercial fishing sector relies on heavy-duty, high-volume equipment for efficiency and durability, while the recreational sector emphasizes versatility, ease of use, and technological enhancements.

Regional Insights

Regionally, the fishing equipment market is well-established in North America, driven by high participation rates in recreational fishing and a strong presence of key manufacturers. Europe follows, with robust demand supported by angling traditions and well-regulated fishing tourism. The Asia Pacific region is experiencing rapid growth, fueled by increasing disposable incomes, rising interest in recreational activities, and extensive coastlines supporting both commercial and sport fishing. Countries like Japan and China are significant both as consumers and producers of fishing gear. Latin America and the Middle East & Africa present emerging opportunities, though market penetration is slower due to economic and infrastructural factors. Each region exhibits distinct consumer preferences and regulatory environments influencing product offerings.

Company Insights

Leading companies in the fishing equipment market include Shimano, known for its high-performance reels and cycling components; Pure Fishing, a conglomerate owning brands like Abu Garcia, Penn, and Berkley; and Rapala VMC Corporation, famous for its lures and fishing knives. Daiwa is another major player, recognized for innovative reel technology and rods. Other notable participants include Johnson Outdoors, which manufactures Humminbird electronics, and Tackle World, specializing in retail distribution. These companies compete on factors such as product innovation, brand loyalty, distribution network strength, and strategic mergers. They focus on expanding their global footprint through partnerships and catering to regional preferences with tailored product lines.

Recent Developments

Recent developments in the fishing equipment market highlight a shift towards sustainability and technology integration. Major companies have launched eco-friendly product lines, including biodegradable fishing lines and lead-free tackles, responding to environmental concerns. Technological advancements are evident in the proliferation of smart fishing gadgets, such as sonar-equipped drones and Bluetooth-enabled reels that sync with mobile applications for data tracking. There has been increased investment in direct-to-consumer online sales platforms, enhancing market accessibility. Additionally, strategic acquisitions have been prominent, with larger firms absorbing niche brands to diversify offerings and enter new market segments. Collaborations with professional anglers and fishing tournaments also continue to be a key marketing strategy.

Report Segmentation

This report on the fishing equipment market provides a detailed segmentation to offer comprehensive insights. It is segmented by product type into rods, reels, lines, lures, hooks, electronics, and others. By application, the market is divided into freshwater fishing, saltwater fishing, and ice fishing. The report further breaks down the market by distribution channel, including online retail, specialty stores, supermarkets/hypermarkets, and others. Geographically, the analysis covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Each segment is analyzed in terms of market trends, consumer behavior, and growth potential, providing stakeholders with actionable intelligence for strategic decision-making.

FAQs

What are the key drivers of the fishing equipment market? The market is primarily driven by increasing participation in recreational fishing, technological advancements in gear, and the growing popularity of fishing tournaments and eco-tourism.

Which regions are leading in the fishing equipment market? North America and Asia Pacific are the dominant regions, with strong consumer bases and significant manufacturing activities.

What types of fishing equipment are most in demand? Rods and reels are perennial bestsellers, but electronic devices like fish finders are experiencing rapidly growing demand due to technological integration.

Who are the major players in the fishing equipment market? Key companies include Shimano, Pure Fishing, Rapala VMC Corporation, Daiwa, and Johnson Outdoors.

How is sustainability impacting the fishing equipment market? Sustainability is driving innovation towards eco-friendly products, such as biodegradable fishing lines and lead-free tackles, in response to environmental regulations and consumer preferences.

What are the emerging trends in fishing equipment? Emerging trends include the use of smart technology in gear, growth in online sales channels, and increased focus on product customization for specific fishing environments.

Citius Research has developed a research report titled “Fishing Equipment Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Fishing Equipment Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Fishing Equipment Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Fishing Equipment Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Fishing Equipment Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Fishing Equipment Market
• Research Methodology
• Executive Summary
• Market Dynamics of Fishing Equipment Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Fishing Equipment Market
• Cost and Gross Margin Analysis of Fishing Equipment Market
• Fishing Equipment Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Fishing Equipment Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Fishing Equipment Market Key Stakeholders

Below are the key stakeholders for the Fishing Equipment Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Fishing Equipment Market Report Scope

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Fishing Equipment Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Fishing Equipment Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Fishing Equipment Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Frequently Asked Questions