Global Fishing Equipment Market Outlook
Revenue, 2024
$14.3B
Forecast, 2034
$24.4B
CAGR, 2025 - 2034
5.5%
The Fishing Equipment industry revenue is expected to be around $15.1 billion in 2025 and expected to showcase growth with 5.5% CAGR between 2025 and 2034. The significant increase highlights the growing importance of the Fishing Equipment market due to the rise in fishing and commercial fisheries worldwide. Technological upgrades have made fishing gear easier to use and efficient while consumers are spending more on activities, like fishing and participating in fishing contests. In developing countries where aquaculture is becoming popular and conservationists are pushing for fishing practices the global Fishing Equipment industry is thriving. Given these circumstances and trends in place the market remains appealing for investment and innovation emphasizing its significance, in the sports and recreation sector.
When it comes to fishing gear and tools for fishing trips or professional use are essential for anglers of all kinds. Be it for outings or business ventures, on the water.
Market Key Insights
- The Fishing Equipment market is projected to grow from $14.3 billion in 2024 to $24.4 billion in 2034. This represents a CAGR of 5.5%, reflecting rising demand across Recreational Fishing, Sport Fishing and Commercial Fishing.
- Shimano Inc., Daiwa Corporation, Rapala VMC Corporation are among the leading players in this market, shaping its competitive landscape.
- U.S. and Japan are the top markets within the Fishing Equipment market and are expected to observe the growth CAGR of 3.6% to 5.3% between 2024 and 2030.
- Emerging markets including Indonesia, Nigeria and Chile are expected to observe highest growth with CAGR ranging between 6.3% to 7.6%.
- Transition like Transition to Sustainable Fishing Equipment has greater influence in United States and Japan market's value chain; and is expected to add $451 million of additional value to Fishing Equipment industry revenue by 2030.
- The Fishing Equipment market is set to add $10.1 billion between 2024 and 2034, with manufacturer targeting Freshwater Fishing & Fly Fishing Technique projected to gain a larger market share.
- With Emergence of technological advancements, and The rise of sport fishing, Fishing Equipment market to expand 71% between 2024 and 2034.
Opportunities in the Fishing Equipment
Nations like China and India are also showing potential for growth with their growing middle class communities and increasing enthusiasm for activities such, as fishing.
Growth Opportunities in North America and Europe
In North America's fishing industry sector the increased desire for fishing gear is mainly influenced by the rising enthusiasm for fishing and the innovative technology utilized by leading companies to improve the fishing experience. Prominent companies in this market produce a range of high quality fishing rods, reels hooks and baits to cater to the needs of both seasoned and novice anglers. These renowned brands engage in competition not only just in terms of quality but also, in terms of innovation consistently striving to enhance the performance and user friendliness of their products. The growing availability of spending money along with a rise in the popularity of family fishing outings has boosted the market for fishing gear, in North America.
When we look at Europe and its fishing gearindustry'sstatus reflects a position in the market scenario there are several factors driving this growth such as a growing interest in sport fishing and the presence of vast fishing grounds like the North Atlantic Ocean and the Mediterranean Sea. In Europe's market competition is fierce among established brands that focus on variouss of fishing equipment like lines lures and fishing apparel Technological progress and strict regulations governing leisure fishing play a significant role, in shaping the fishing gear sector in this region. The increasing interest in fly fishing is driving up the demand, for equipment tailored to this hobby.
Market Dynamics and Supply Chain
01
Driver: Emergence of Technological Advancements, and Growing Sustainability and Ecotourism Trends
The swift integration of state of the art technology in the fishing gear sector. Sonar systems and GPS trackers along with electronic reels. Is also projected to notably boost the interest in advanced fishing equipment products. These innovations provide improved functionality and accuracy whichre attractive, to both skilled anglers and hobbyists alike; ultimately propelling the expansion of the Fishing Equipment Market. The increasing awareness of preserving marine ecosystems and promoting fishing methods is also significantly influencing the Fishing Equipment sector as well. Manufacturers are also now focusing more towards developing eco fishing gear that minimizes accidental catch and protects non target species from harm. This shift in preference towards fishing equipment is also encouraging companies to come up with innovative solutions, in their product designs and production processes.
The rise in interest in sport fishing for leisure has also significantly driven up the need for top notch fishing equipment. The surge is also not only just seen in established markets. Also in developing economies leading to more investment, in crafting a wide range of fishing gear tailored for differents of fish and habitats.
02
Restraint: Economic Instability
The fishing equipment industry faces challenges due to instability as fluctuations, in the economy can affect how much people spend on fishing gear during tough times when leisure activities are often reduced to save money.
03
Opportunity: Tapping into the Fly Fishing Market and Sustainable Fishing Gear Trend
Serving an dedicated community of fishing aficionados are those who indulge in fly fishing – a realm that holds promise, for companies producing fishing gear to flourish economically. The distinct nature of the gear needed for this activity. Fly rods and specialized reels. Opens doors for manufacturers to create tailored products and launch marketing strategies aimed at this niche market. Diversifying their offerings to encompass fly fishing equipment could enable businesses to connect with this committed group of consumers and capitalize on its expanding prospects.
Consumers who care about the environment are advocating for ethically produced goods in various sectors including fishing equipment as well. Creating eco fishing gear that has minimal effects on marine life is not only attractive to environmentally conscious customers but also positions businesses ahead of upcoming stricter environmental rules. By establishing themselves as pioneers, in fishing gear production companies can capitalize on this movement to boost their business and build a favorable brand image.
04
Challenge: Environmental Concerns
Environmental worries related to fishing pose an obstacle for the Fishing Equipment market as they involve concerns such as overfishing and water pollution which can harm aquatic ecosystems due to inappropriate fishing methods used. These environmental issues may lead to government rules on fishing practices which could impact the sales of fishing gear. Moreover increasing consumer awareness about these problems and their inclination towards eco products are also reducing the demand, for conventional fishing equipment making it challenging for the market.
Supply Chain Landscape
1
Raw Material Acquisition
Mitsubishi CorporationRio Tinto Group
2
Equipment Manufacturing
Shimano Inc.Okuma Fishing Tackle Co. Ltd
3
Wholesale Distribution
Bass Pro ShopsTackledirect LLC
4
Retail & End-User Market
Cabelas Inc.Dicks Sporting Goods
1
Raw Material Acquisition
Mitsubishi CorporationRio Tinto Group
2
Equipment Manufacturing
Shimano Inc.Okuma Fishing Tackle Co. Ltd
3
Wholesale Distribution
Bass Pro ShopsTackledirect LLC
4
Retail & End-User Market
Cabelas Inc.Dicks Sporting Goods
Use Cases of Fishing Equipment in Recreational & Sport
Recreational Fishing : Many people who enjoy fishing as a hobby often spend their weekends or holidays engaging in fishing activities using items such as fishing rods and reels along with other necessary equipment like lines and hooks from popular brands, like Zebco and Eagle Claw known for their quality products and widespread availability in the market.
Commercial Fishing : Commercial fishing involves using reliable fishing gear on a large scale to handle the demands of the sea environment effectively The tools commonly utilized are nets trawlers and pot traps specifically designed to withstand tough conditions at sea Mustad and Okuma are key players, in this industry known for providing durable and high quality equipment that has helped them establish a solid market presence.
Sport Fishing : In the sport fishing realm competition is fierce as enthusiasts seek the excitement of the catch alongside relaxation in the waterside setting. The utilization of top notch rods, reels and fish finders designed for this purpose is common in this field leading manufacturers such as Shimano and Penn are esteemed for their cutting edge gear which plays a role, in their industry leadership.
Ice Fishing : Ice fishing refers to the practice of fishing on bodies of water using specific gear like ice drills and specialized lures such as tip ups designed for this purpose. Companies, like Frabill and Clam offer top notch fishing equipment tailored for ice fishing enthusiasts who frequent this of activity and cater to the needs of this specialized market segment.
Recent Developments
The fishing gear industry has undergone changes lately due to market advancements and technological innovations that have led to improved designs and manufacturing methods, for fishing equipment resulting in significant market expansion.
December 2024 : Shimano introduced a groundbreaking fishing reel powered by intelligence technology. This innovative product brings a level of precision and advancement to the sport of fishing.
September 2024 : Berkeley Fishing is well known for its high quality fishing equipment. launched a new range of eco friendly fishing lures. This initiative is a step, towards promoting environmental sustainability within the fishing gear sector.
June 2024 : In a development, for fishing enthusiasts everywhere Daiwa has teamed up with DeepCast. A top notch tech company. To bring cutting edge predictive data analytics to their range of fishing gear.
Impact of Industry Transitions on the Fishing Equipment Market
As a core segment of the Other Consumer Goods industry,
the Fishing Equipment market develops in line with broader industry shifts.
Over recent years, transitions such as Transition to Sustainable Fishing Equipment and Technological Evolution in Fishing Equipment have redefined priorities
across the Other Consumer Goods sector,
influencing how the Fishing Equipment market evolves in terms of demand, applications and competitive dynamics.
These transitions highlight the structural changes shaping long-term growth opportunities.
01
Transition to Sustainable Fishing Equipment
With the growing awareness of issues worldwide the fishing gear sector has had to make significant changes. The move towards using eco materials, biodegradable fishing lines and lead free weights highlights a shift towards sustainable fishing gear. This change has not only influenced the production patterns of fishing equipment but also altered consumer choices creating a ripple effect on related sectors, like plastics and metals. The shift towards sustainability has emerged as a catalyst for progress in the fishing equipment industry worldwide and is shaping new directions, for innovation.
02
Technological Evolution in Fishing Equipment
In the evolution of the Fishing Equipment sectors advancements is the adoption of technology as a pivotal phase. Regular fishing gear like rods and reels have transformed to include GPS setups and sonar fish locators alongside features such as power meters and WiFi connectivity. The introduction of technology has sparked a notable wave of changes in fishing equipment functionality boosted fishing effectiveness and influenced market shifts. This technological shift has not only influenced linked electronics sectors but also spurred development and progress, within the fishing equipment industry and other related areas.