DUBLIN, July 20, 2021--(BUSINESS WIRE)--The "Sports Fishing Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Sports Fishing Equipment Market to Reach $16 Billion by 2027
Amid the COVID-19 crisis, the global market for Sports Fishing Equipment estimated at US$12.6 Billion in the year 2020, is projected to reach a revised size of US$16 Billion by 2027, growing at a CAGR of 3.4% over the analysis period 2020-2027.
Rods, Reels, & Poles, one of the segments analyzed in the report, is projected to record a 3.1% CAGR and reach US$6.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lures, Flies, & Baits segment is readjusted to a revised 4.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4.5 Billion, While China is Forecast to Grow at 5.9% CAGR
The Sports Fishing Equipment market in the U.S. is estimated at US$4.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2 Billion by the year 2027 trailing a CAGR of 5.9% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.8% and 2.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR.
Fishing Lines Segment to Record 4.2% CAGR
In the global Fishing Lines segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.1 Billion in the year 2020 will reach a projected size of US$1.5 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2027.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Opportunity in Disguise for Sports Equipment Providers amid COVID-19
COVID-19 Impact on Fishing Equipment Market
COVID-19 Pandemic Results in Scarcity of Fishing Equipment
An Overview of Sports Fishing Equipment
Types of Sports Fishing Equipment
Sports Fishing Equipment: Meeting the Ever-Changing Needs of Recreational Fishing, the Healthful Pastime
Myriad Health and Well-Being Benefits of Recreational Fishing Drive Widespread Adoption of Fishing Equipment
Key Health and Well-Being Benefits of Recreational Fishing Ranked in the Order of Importance
Global Sports Fishing Equipment Market: Overview and Outlook
Major Technological Advances to Drive Growth
Developed Countries Traditional Revenue Contributors, while Developing Countries Spearhead Market Growth
Lures, Flies, & Baits: The Fastest Growing Segment
Future Developments in Fishing Rods to Drive Segmental Growth
Competitive Landscape: A Highly Fragmented Marketplace
Shimano: A Dominant Force in the Fishing Gear Market
Floating Minnow from Rapala: The Story of Invention to Commercialization
Competition: Noteworthy Trends
Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 159 Featured)
Aftco Mfg. Co., Inc.
Eagle Claw Fishing Tackle Co.
Eppinger Mfg. Co.
Gamakatsu Co., Ltd.
Grandt Industries, Inc.
Jim Teeny, Inc.
Koppers Fishing and Tackle Corp.
O. Mustad & Son A.S.
Okuma Fishing Tackle Corporation
Plano Synergy Holdings, Inc.
PRADCO Outdoor Brands, Inc.
Pure Fishing, Inc.
Rapala VMC Corporation
Rome Specialty Company, Inc.
Sea Master Enterprise Co., Ltd.
St. Croix of Park Falls, Ltd.
Taylor Fly Fishing
TICA Fishing Tackle
Zebco Holdings, Inc.
3. MARKET TRENDS & DRIVERS
Steady Proliferation of Connected Electronic Fishing Devices Drive Healthy Market Growth
Select Innovative Electronic Sports Fishing-Related Products
Fish Finders: Helpful Tools for Elevating Fishing Experience
Fishing Cameras for Easy Underwater Viewing Using Tablets or Smartphones
Bobbers with Integrated Intel Chip & Wireless Connectivity
Notable Advanced Electronic Fishing Lures
AngLR Tracker for Fishing Rod
FishSentry Connected Fishing Rods
PowerRay Underwater Robot
FLIR Ocean Scout TK Night-Vision Camera
Humminbird HELIX 10
Individuals Account for Bigger Share
Sports Organizers Drive Demand
Fishing Clubs Elevate Participation Levels
Passion for Outdoors and the Drive to Preserve Nature Steer Demand from the Millennials Population
Global Millennial Population Facts & Figures: Important Opportunity Indicators
Disruptive Technologies that Transformed the Sports Fishing Boats over the Years
Focus on Developing Fishing Infrastructure Strengthens Market Prospects
Surging Popularity of Kayak Fishing Benefits Market Expansion
Consumer Affluence Influences Sports Fishing Equipment Sales
Surging Interest in Fishing among Women Opens Up Growth Avenues
Ice Fishing Gear: Equipment to Make Most of Ice Fishing Mission
Innovations & Advancements
3D Printing Streamlines Fishing Equipment Manufacturing
Advancements in Fly Fishing Reels
Tippet Innovations Bolster Stealthiness in Fly Fishing
Lures Mimic Sounds of Fish
Lures with Characteristic Wobbling Action
Airbomb: A Revolutionary Mid-Air Baiting Device
Shimano's First-of-its-Kind Fishing Reels
Innovative Fishing Accessories
Other Innovative Fishing Rods, Lures and Reels
Select Innovative Sports Fishing Reels
Select Innovative Sports Fishing Rods
Fishing Tackle and Gear
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
Socio-Economic Importance of Recreational Fishing to Drive Long Term Growth in Demand for Sports Fishing Equipment
US Fishing Lines Market: Monofilament Continues to Dominate, while Braided Lines Spearhead Growth
Fishing Equipment in the US: An Evolutionary Scan
Growing Popularity of Kite Fishing Augurs Well for Market Demand
Technology Advancements in Sport Fishing Boats
Freshwater Fishing Continues to be the Most Popular Fishing Form
Favorable Demographic Trends Strengthen Market Prospects
Increasing Participation of Women in Sports Fishing Bodes Well for Market Demand
Canada: A Major Recreational Fishing Hub Continue to Witness Steady Market Growth
British Columbia: One of the Major Sports Fishing Destinations in the Country
China Offers Significant Growth Opportunities
China: A Leading Producer of Sports Fishing Equipment Worldwide
Chinese Manufacturers Focus on Product Development and Cost Reduction
Europe: Select Growth Drivers
Total Companies Profiled: 159
For more information about this report visit https://www.researchandmarkets.com/r/7r3iu4
View source version on businesswire.com: https://www.businesswire.com/news/home/20210720005680/en/
Laura Wood, Senior Press Manager
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