Sports Fishing Equipment Industry Opportunities, Growth Rate and Future Demand

Rising participation in fishing activities by people of all ages (particularly youth and females), increasing popularity of fishing, and rise in demand for sports fishing equipment are some of the factors driving the market.

ID: 1550474
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(businesspress24) - Global sports fishing equipment market is expected to grow significantly in the forecast period due to rising popularity of fishing. Sport fishing is carried out fishing equipment like hooks, line, reel, rods, etc. These equipment are mostly used by the participants in sports fishing who are also known as anglers.

Rising participation in fishing activities by people of all ages (particularly youth and females), increasing popularity of fishing, and rise in demand for sports fishing equipment are some of the factors driving the market. Moreover, increase in demand for sea food and increasing disposable income of consumers are also expected to drive the market growth. However, several taxes imposed for fishing and motorboat fuel are hampering the growth of the market.

Increasing popularity of spearfishing is an emergent trend witnessed by sports fishing equipment market. Additionally, advent of fish aggregating devices (FADS) is also attracting larger audience, mostly in the Caribbean islands. The changing food lifestyle of consumers on the global scale is expected to offer opportunities to the market.

Market is categorized on the basis of product type, distribution channel, end user and geography. On the basis of product type, market is divided into rods, reels and components, files, leaders, line, lures, electronics, baits, and terminal tackle. Fishing rod segment is anticipated to register significant growth in the coming years owing to increasing number of fishing activities worldwide that require fishing rods.

Based on distribution channel, market is split into saltwater fishing, freshwater fishing and others. Freshwater fishing segment is expected to hold larger share of the market owing to growing preference for fishing. In terms of end user, market is bifurcated into distributor, online sales, and direct sales. Online sales segment is predicted to lead the market owing to online preference.

Geographically, market is segmented as North America, South American, Europe, Asia Pacific, and Middle East & Africa. South and North America accounted for the maximum share of sports fishing equipment market owing to intensifying participation of anglers in fishing. Moreover, Asia Pacific is also predicted to lead the market growth due to increased number of fishing activates. The key players profiled in sports fishing equipment market comprise AFTCO, EAGLE CLAW, Newell Brands, SHIMANO, TICA FISHING TACKLE, and OKUMA FISHING TACKLE.



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Date: 07/05/2019 - 02:34
Language: English
News-ID 1550474
Character count: 3423
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Freigabedatum: 05.07.2019
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