Sports Fishing Equipment Market size is set to grow by USD 3.25 bn from 2024-2028,rise in popularity of recreational fishing boost the market- Technavio

NEW YORK, April 5, 2024 /PRNewswire/ -- The global sports fishing equipment market size is estimated to grow by USD 3.25 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 3.97% during the forecast period. The recreational fishing market is thriving due to its popularity as the second-most engaged outdoor activity in the US, behind jogging. Fishing, whether freshwater or saltwater, is accessible through various locations and technologies like Fishbrain's mobile app, marine electronics, and fishing equipment from brands like Kistler Rods. Innovations include GPS systems, side-scanning sonar, and light-tackle lines made of Spectra, Dyneema, and Dacron backing. The offshore fishing industry caters to diverse anglers, from coarse to game, using advanced techniques and gear, while addressing concerns of trashed fishing gear and abandoned electronics. Fishing-related expenses cover various fishing stocks, fishing clubs, franchised and independent sports stores, and fishing sports. 

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Segment Overview 

This sports fishing equipment market report extensively covers market segmentation by Product (Fishing rod, Fishing reel, Fishing lure, Terminal tackle and others) Distribution Channel (Offline, Online) Geography (North America, Europe, APAC, South America, Middle East and Africa)

Market segmentation by Product

The global sports fishing equipment market caters to recreational anglers through offline distributive channels, including department stores, specialty shops, and more. These channels offer a wide range of fishing gear such as rods, reels, fishhooks, lines, baits, lures, sinkers, and handheld tools like spears and harpoons. Anglers can also find advanced equipment for techniques like casting, spinning, fly fishing, and trawling, including grappling hooks, stunning devices, and sensors. The fishing industry supports various water-based sports activities, and fishing associations and recreational fishing clubs foster a community for sports fishermen. Modern fishing equipment includes marine electronics technology like GPS systems, side-scanning sonar, radar pulses, transducers, and VHF technology, as well as automatic identification systems for saltwater fishing applications. Light-tackle fishing techniques have gained popularity, and apps like Fishbrain facilitate equipment sales and provide valuable information for freshwater and saltwater anglers.

Geography Overview

The sports fishing equipment market in North America, led by the US, encompasses various techniques such as Casting, Spinning, and Fly fishing. Handheld tools, Spears, and Harpoons are essential for anglers and sports fishermen in both freshwater and saltwater environments. The fishing industry thrives on water-based sports activities, with fishing associations and recreational fishing clubs fostering growth. Advanced technology, including sensors and smartphone applications like Fishbrain, enhances the fishing experience. Marine electronics technology, including GPS systems, side-scanning sonar, radar pulses, transducers, VHF technology, and automatic identification systems, cater to saltwater fishing applications. Light-tackle fishing techniques employ braided fishing lines and monofilament alternatives. The offshore fishing industry utilizes deep-dropping techniques and advanced equipment like Spectra, Dyneema, and Dacron backing. Coarse anglers and offshore anglers, as well as game anglers, contribute to the market's growth. Artificial trout lakes and day-ticket coarse fisheries offer accessible opportunities for fishing enthusiasts. 

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• The sports fishing equipment market is growing as vendors introduce new variants, integrating innovative technologies like KonneticHD. Products include fishing rods, hooks, lines, lures, sinkers, and electronics from brands like Sage Manufacturing and Kistler Rods. Offshore and recreational anglers use various techniques such as deep-dropping and trawling with gear like grappling hooks and nets. Key materials include braided lines, monofilament alternatives, and Dacron backing. Market expansion attracts coarse and game anglers to day-ticket fisheries, fishing clubs, and franchised sports stores. Fishing sports involve expenses for fishing-related gear and the consumption of fish. Abandoned fishing gear is a concern for environmental sustainability.
• The global sports fishing equipment market faces challenges as end-users opt for pre-owned gear, affecting new unit sales. Pre-used equipment is advertised on print and social media, sold online via Gumtree and eBay, and available in repair shops. Keywords: fishing rods, hooks, lines, baits, lures, sinkers, recreational fishing, gear, grappling, trapping, trawling, seining, casting, spinning, fly fishing, handheld tools, spears, harpoons, fishing industry, water-based sports, fishing associations, recreational clubs, sports fishermen, anglers, freshwater, saltwater, sensors, smartphone apps, outdoor leisure, equipment sales, Fishbrain, marine electronics, GPS systems, side-scanning sonar, radar pulses, transducers, VHF technology, automatic identification systems, saltwater fishing, light-tackle techniques.

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Research Analysis

The Sports Fishing Equipment Market encompasses a wide range of gear essential for recreational fishing activities. Key components include fishing rods, fishhooks, lines, baits, lures, and sinkers. Advanced equipment such as marine electronics technology, like GPS systems and side-scanning sonar, have revolutionized fishing, enhancing the angler's experience. The outdoor recreational sector continues to thrive, with equipment sales reaching new heights. Fishing, an popular outdoor leisure activity, attracts millions worldwide. Grappling tools and stunning devices are also part of the market, catering to various fishing techniques. Overall, the Sports Fishing Equipment Market offers a diverse range of gear for anglers, ensuring an enjoyable and productive fishing experience.

Market Research Overview

The Sports Fishing Equipment market is a significant sector that caters to anglers seeking to enhance their fishing experience. Rods, reels, lines, and lures are essential fishing equipment that find extensive usage in this market. Fishing hooks, sinkers, and floats are other crucial components. The market also offers fishing clothing and accessories, such as waders, hats, and sunglasses. Fishing boats and motorized equipment, like trolling motors, are also part of the market. Fishing electronics, such as fish finders and depth sounders, are increasingly popular. The market for fishing equipment is driven by factors like growing popularity of fishing as a recreational activity, technological advancements, and increasing disposable income. The global fishing equipment market is projected to grow at a steady rate in the coming years.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Fishing Rod
• Fishing Reel
• Fishing Lure
• Terminal Tackle And Others
• Distribution Channel
• Offline
• Online
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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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SOURCE Technavio