Fishing bait market size to grow by USD 173.31 million from 2022 to 2027; Growing popularity of fly fishing to boost the market - Technavio

NEW YORK, May 31, 2023 /PRNewswire/ -- The global fishing bait market size is estimated to grow by USD 173.31 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 4.06%. North America will account for 28% of market growth during the forecast period. The growth of the regional market is attributed to factors such as the increasing popularity of recreational fishing, the growing demand for organic and natural baits, and the rising use of catch-and-release fishing practices. The US, Mexico, and Canada are the key revenue contributors to the fishing bait market in North America. Recreational fishing is popular in the US. Participation in sport fishing is also increasing in the country. These factors will drive market growth during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Fishing bait market - Segmentation assessment
Segment overview
Technavio has segmented the market based on distribution channel (offline and online), type (fresh water, salt water, and fly fishing), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The offline segment will account for a significant share of market growth during the forecast period. Offline sales channels for this market include bait and tackle shops, outdoor retailers, convenience stores, supermarkets, and wholesalers. These sales channels are frequented by consumers who prefer the examine the products before purchasing. Such factors are expected to drive the growth of the segment during the forecast period.

Insights on the market contribution of various segments, including country- and region-wise data, historic (2017 to 2021) data, and forecast market size (2023 to 2027) - Download a sample report

Fishing bait market – Market dynamics
Key factor driving market growth

• The growing popularity of fly fishing is driving market growth.
• Fly fishing gear has become widely available, affordable, and accessible to a wide consumer base in recent years.
• It has become a popular form of sustainable fishing, as it uses artificial bait instead of live bait.
• The use of artificial flies and catch-and-release practices help minimize the impact on fish populations and their habitats.
• Therefore, more people are taking up the sport, and the demand for high-quality fishing bait is likely to increase.
• These factors will fuel market growth during the forecast period

Leading trends influencing the market 

• The growing demand for environmentally friendly baits is a key trend in the global fishing bait market.
• Environmentally friendly baits have become popular in recent years, as more people are becoming aware of the negative impact of fishing on the environment.
• These baits are designed to minimize environmental issues and reduce the amount of waste.
• Environmentally friendly baits are made from sustainable materials such as cornstarch, soybeans, or other renewable resources to make biodegradable baits.
• These baits break down quickly in the water and do not leave behind any harmful chemicals or pollutants.
• Other types of environmentally friendly baits are made from materials such as old fishing lines, plastic bottles, and other recycled items.
• Thus, the growing demand for environmentally friendly baits will support market growth during the forecast period.

Major challenges hindering the market growth

• The limited availability of freshwater resources is challenging market growth.
• There is a finite number of freshwater resources.
• Many regions face water scarcity due to factors such as climate change, overexploitation of water resources, and pollution.
• Water scarcity can have a significant impact on fish populations by reducing the amount of habitat and food sources.
• Moreover, fish caught in polluted water is unhealthy to consume.
• Thus, the limited availability of freshwater resources is expected to challenge the global fishing bait market growth during the forecast period.

Insights on market drivers, trends, & challenges, historic period (2017 to 2021), and forecast period (2023 to 2027) - Request a sample report!

What are the key data covered in this fishing bait market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the fishing bait market between 2023 and 2027
• Precise estimation of the size of the fishing bait market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the fishing bait market across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of fishing bait market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global fishing bait market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global fishing bait market 2017 - 2021 ($ million)

• 4.2 Distribution Channel Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
• Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 32: Chart on Comparison by Distribution Channel
• Exhibit 33: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.4 Online - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel 
• Exhibit 42: Market opportunity by Distribution Channel ($ million)
• Exhibit 43: Data Table on Market opportunity by Distribution Channel ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 44: Chart on Type - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 46: Chart on Comparison by Type
• Exhibit 47: Data Table on Comparison by Type

• 7.3 Fresh water - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Fresh water - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Fresh water - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Fresh water - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Fresh water - Year-over-year growth 2022-2027 (%)

• 7.4 Salt water - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Salt water - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Salt water - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Salt water - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Salt water - Year-over-year growth 2022-2027 (%)

• 7.5 Fly fishing - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Fly fishing - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Fly fishing - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Fly fishing - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Fly fishing - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Type 
• Exhibit 60: Market opportunity by Type ($ million)
• Exhibit 61: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 India - Market size and forecast 2022-2027 
• Exhibit 95: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 France - Market size and forecast 2022-2027 
• Exhibit 103: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ million)
• Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 AA Baits and Feeds
• Exhibit 115: AA Baits and Feeds - Overview
• Exhibit 116: AA Baits and Feeds - Product / Service
• Exhibit 117: AA Baits and Feeds - Key offerings

• 12.4 American Baitworks Co. 
• Exhibit 118: American Baitworks Co. - Overview
• Exhibit 119: American Baitworks Co. - Product / Service
• Exhibit 120: American Baitworks Co. - Key offerings

• 12.5 BPS Direct LLC
• Exhibit 121: BPS Direct LLC - Overview
• Exhibit 122: BPS Direct LLC - Product / Service
• Exhibit 123: BPS Direct LLC - Key offerings

• 12.6 Castaic Inc.
• Exhibit 124: Castaic Inc. - Overview
• Exhibit 125: Castaic Inc. - Product / Service
• Exhibit 126: Castaic Inc. - Key offerings

• 12.7 Duel Co., Ltd.
• Exhibit 127: Duel Co., Ltd. - Overview
• Exhibit 128: Duel Co., Ltd. - Product / Service
• Exhibit 129: Duel Co., Ltd. - Key offerings

• 12.8 Gamakatsu USA Inc.
• Exhibit 130: Gamakatsu USA Inc. - Overview
• Exhibit 131: Gamakatsu USA Inc. - Product / Service
• Exhibit 132: Gamakatsu USA Inc. - Key offerings

• 12.9 Newell Brands Inc.
• Exhibit 133: Newell Brands Inc. - Overview
• Exhibit 134: Newell Brands Inc. - Business segments
• Exhibit 135: Newell Brands Inc. - Key news
• Exhibit 136: Newell Brands Inc. - Key offerings
• Exhibit 137: Newell Brands Inc. - Segment focus

• 12.10 Nikko Kasei Co. Ltd.
• Exhibit 138: Nikko Kasei Co. Ltd. - Overview
• Exhibit 139: Nikko Kasei Co. Ltd. - Product / Service
• Exhibit 140: Nikko Kasei Co. Ltd. - Key offerings

• 12.11 O. Mustad and Son AS
• Exhibit 141: O. Mustad and Son AS - Overview
• Exhibit 142: O. Mustad and Son AS - Product / Service
• Exhibit 143: O. Mustad and Son AS - Key offerings

• 12.12 Rapala VMC Corp.
• Exhibit 144: Rapala VMC Corp. - Overview
• Exhibit 145: Rapala VMC Corp. - Business segments
• Exhibit 146: Rapala VMC Corp. - Key offerings
• Exhibit 147: Rapala VMC Corp. - Segment focus

• 12.13 Taylor Mans Custom Lures 
• Exhibit 148: Taylor Mans Custom Lures - Overview
• Exhibit 149: Taylor Mans Custom Lures - Product / Service
• Exhibit 150: Taylor Mans Custom Lures - Key offerings

• 12.14 TIEMCO Ltd.
• Exhibit 151: TIEMCO Ltd. - Overview
• Exhibit 152: TIEMCO Ltd. - Product / Service
• Exhibit 153: TIEMCO Ltd. - Key offerings

• 12.15 Weihai Guangwei Group Co. Ltd. 
• Exhibit 154: Weihai Guangwei Group Co. Ltd. - Overview
• Exhibit 155: Weihai Guangwei Group Co. Ltd. - Product / Service
• Exhibit 156: Weihai Guangwei Group Co. Ltd. - Key offerings

• 12.16 Weihai Liangchen Fishing Tackle Ltd. 
• Exhibit 157: Weihai Liangchen Fishing Tackle Ltd. - Overview
• Exhibit 158: Weihai Liangchen Fishing Tackle Ltd. - Product / Service
• Exhibit 159: Weihai Liangchen Fishing Tackle Ltd. - Key offerings

• 12.17 Yakima Bait Co.
• Exhibit 160: Yakima Bait Co. - Overview
• Exhibit 161: Yakima Bait Co. - Product / Service
• Exhibit 162: Yakima Bait Co. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 163: Inclusions checklist
• Exhibit 164: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 165: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 166: Research methodology
• Exhibit 167: Validation techniques employed for market sizing
• Exhibit 168: Information sources

• 13.5 List of abbreviations 
• Exhibit 169: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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