Global Sports Fishing Equipment Market to Register a Sluggish CAGR of 3.1% Over the Projected Period


 Published Date : 16 Jan 20   |   Views: 205   |  Industry : Sports

QYR Consulting has added a new report in its repository titled, “Sports Fishing Equipment Market Report: Company Analysis, History and Future Overview, Global Sales Trends by 2025,” which recognizes prominent growth factors and analyses the market based on segmentation, region, and competitive strategies of the market players. The global Sports Fishing Equipment market is likely to be valued US$ 16.2 Bn by 2025 from US$ 13.0 Bn in 2018, exhibiting a sluggish CAGR of 3.1% during the forecasted period, i.e. between 2019 and 2025.

Segmental Analysis

Light Weight and Durable Rods are likely to Augment the Growth of the Fishing Rod Segment

The product segment of the market is divided into Fishing rod, Fishing reels, Fishing lines, Fishing lures, Fishing hooks, Fishing flies, Fishing net, Fishing bait, and Others. Increasing participation in fishing and recreational fishing activities has led to rising demand for the fishing rod. These fishing rods are durable and lightweight and can easily pull fish out of water. Customers are also buying fishing rods which help in reducing human effort making fishing experience hassle free and enjoyable. This is likely to augment the growth of the fishing rod segment. The distribution channel of the market is segregated into the offline and online segments.

North America

Regional Analysis

Presence of Several Water bodies and the Availability of Fish in North America is Likely to Boost the Market Growth 

North America holds a significant share of the market due to the popularity of fishing as an activity. The presence of several water bodies and the availability of fish in the region is expected to propel the growth of the regional market. The rapid surge in professional angling along with increasing participation angling clubs and associations is contributing to the growth of themarket.

Key Players

Key Players Keen to Manufacture Advanced Fishing Equipment

Some of the key players operating in the Sports Fishing Equipment market are EagleClaw Midstream Services, LLC, Okuma Fishing Tackle Corporation, O. Mustad & Son A.S., Shimano Inc., Newell Brands Inc., Rapala VMC Corporation, Gamakatsu, Newell Brands Inc., and Aftco Mfg. Co., Inc.

Global CAGR During 2020-2026


Market Dynamics

Growing Popularity of Fishing is likely to Boost the Market Growth

The growing popularity of fishing as a sport has resulted in high demand for Sports Fishing Equipment. Support from the government for the improvement in fishing infrastructure to promote the development of coastal areas around the globe is likely to foster the growth of the market. Fishing competitions, programs, events, and recreational activities are responsible for driving the growth of the sport fishing equipment market. Manufacturers offering smart fishing equipment with sensors, which can be connected to smartphones to track activities and to locate fishing spots is likely boosting the growth of the Sports Fishing Equipment market in the future.

For further information, check :https://www.qyrconsulting.com/reports/sports-fishing-equipment-market

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