About the Report
According to the Food and Agriculture Organization of the United Nations, estimates of the global number of recreational fishers or anglers vary between 220 million and 700 million, with the higher estimate accounting for approximately double the number of commercial anglers. In terms of fishing equipment, sustainable materials, electronics, and artificial intelligence developments have been gaining attention for high-end rigs. Sports fishing activities are largely restrained to developed economies in Europe and North America. Further, only 17 percent of the young demographic below 18 years-old has been involved in fishing, which accounts for less than 5 percent of all anglers. Fishing is also the 10th-most popular sport among women. Female anglers account for 26.8 percent of all anglers - 8 percent of the sports fishing population. These are key factors that are expected to influence developments in the sports fishing equipment industry through 2031.
In its new report, Fact.MR tracks the growth of the sports fishing equipment market in 20+ high-growth countries. It also details the impact that the COVID-19 pandemic has had on the market, and what the future years will offer to stakeholders.
Historical and Future Outlook
From 2016 to 2020, the sports fishing equipment market has reflected steady growth. The industry has displayed a moderately fragmented structure. It grew from around US$ 2.2 Bn in 2016 to nearly US$ US$ 2.6 Bn in 2020. The Asia Pacific excluding Japan region reflects a high potential for growth.
Fact.MR has forecasted the global sports fishing equipment market to rise at close to 4.5% CAGR from 2021 to 2031. Resurgence of outdoor recreational activities with the gradual relaxation of lockdown regulations are key factors that will support faster recovery and the adoption of newer technologies in this space through the projection period.
What are the Prospects of Braided Lines in Sports Fishing?
Braided fishing lines have largely gained acceptance among bass anglers, and light-tackle fishing methods. This can be attributed to advantages in terms of easier casting. Also, braided lines are more resistant to twisting and stretching, unlike monofilament alternatives, thereby providing superior durability.
In recent years, braided lines have also gained ground in offshore fishing. Dyneema and Spectra are popular brands of braided fishing lines in the offshore world. Replacing conventional Dacron backing with braids has allowed reels to hold more than 1,500 yards of braid of the same strength – a three time increase. Consequently, capacity concerns have largely been negated with braided lines.
Braided lines have also found key roles in daytime deep-dropping practices. Solid-core braided lines, usually comprise a 65-pound-test, have become the professional line option for this fishery method. This can be accounted for by lower resistance to water current, allowing for straighter connections between weight and the rods at substantial depths.
Further, the stretch-free properties of braided lines enable easier detection of fish bites at greater depths which is not possible with monofilament lines. This trend bodes well for sales in the times to come.
How are Electronic Improvements Aiding the Sports Fishing Sector?
Technological breakthroughs in marine electronics have resulted in major changes in the sports fishing sector. Ease of use in new GPS setups allows people without expertise to navigate in marine environments for higher probability of catch. Advances in side-scanning sonar allows for easier tracking of bait fish and pelagic fish. Multifrequency, multibeam transducers, and compressed high-intensity radar pulse devices are prominent technologies in the field that provide superior detail in tracking schools of fish.
While digital radar systems are limited in terms of range, they provide advantages in terms of target separation and detail. Also, improvements in LCD display size and technology, and recent advances such as photo overlays and 3-D viewing functionality, are expected to gain popularity among anglers.
Other advancements include the use of VHF tech for automatic identification systems, and digital selective calling systems to improve safety onboard fishing boats, which generates key opportunities, especially in saltwater fishing applications in the long term.
What are the Main Challenges Impacting Players in the Sports Fishing Space?
The long-term prospects of the sports fishing equipment market is positive, driven by recreational consumer interest. However, the industry is expected face obstacles that can potentially limit growth of the industry.
Concerns over the sustainability of fishing stocks are a key challenge holding back the industry. Further, environmental concerns associated with abandoned fishing gear is also hurting the adoption of the activity and associated products. Ethical considerations towards fishing activities have limited sales.
Further, lack of adequate fishing locations and costs associated with fishing rigs have largely limited the adoption of sport fishing to North America and Europe. Public and government efforts are key to surpass such challenges to long-term developments.
Why are the Prospects of Sports Fishing Equipment Big in the United States?
According to a report by the National Sporting Goods Association, fishing currently ranks 4th in the most popular participation sports in the country, beating bicycling, bowling, basketball, golf, jogging, baseball, softball, soccer, football, and skiing. Only walking, swimming, and camping are more popular – in fact, fishing is more popular than golf and tennis combined.
The U.S. Fish and Wildlife Service estimates that, one out of every six Americans who are 16 and older enjoy going out for a day of fishing. The multi-billion-dollar U.S. sports fishing industry can be accounted for by expenditures on fishing trips, equipment, licenses and stamps, land ownership and leases, and membership contributions.
The National Sporting Goods Association has also stated that, the average angler in the United States spends more than a US$ 1,000 annually for fishing-related expenses. Expenditure levels are higher for bass anglers. According to the Fact.MR report, North America is the leading market for sports fishing equipment, led by the United States, which is estimated to account for more than US$ 800 Mn in 2021. Fishing rod sales will account for approximately one-third of the market share during this period.
How is the Sports Fishing Sector Faring in the United Kingdom?
According to the National Rivers Authorities of the U.K., the country holds 42,123 km of rivers and 1,653 lakes > 5 ha. Fisheries are in private ownership. The country accounts for more than 2 million coarse anglers, 1 million offshore anglers, and over 800,000 game anglers, all of whom spend more than £1,000 per annum on fishing.
According to the Food and Agriculture Organization of the United Nations, the popularity of fishing for trout in U.K. lakes has grown significantly, and additional artificial trout lakes have been created to meet this growing demand. Similarly, the country has witnessed an increase in the number of still-water coarse fisheries operating on a day-ticket basis. Also, wild coarse fish populations of river systems have been found to be stable. However, angling clubs in the U.K. have been adversely affected by a steady decline in membership.
As per the Fact.MR study, the U.K. is the second-largest European market for sports fishing equipment, accounting for close to a quarter of the region’s revenue, which is likely to continue through the assessment period.
How is France Contributing to the Sports Fishing Equipment Industry?
As per the Fact.MR study, France is the leading and fastest-growing market for sports fishing equipment, reflecting an estimated growth rate of over 5% CAGR through 2031. Significant impetus in offshore recreational fishing is expected to drive the industry in the long term.
As per a study by the Marine Economics Unit of the IFREMER, UMR AMURE, recreational fishers of France are estimated at approximately 2.5 million, with overall catch estimated at 24,000 tons of fish and 3,100 tons of shellfish. Fishing expenditure in the country was estimated at between 1,200 and 2,000 million euros.
In France, recreational fishing is subject to only limited regulation; there is no licensing system or registry of marine recreational fishers. Relatively relaxed regulations on fishing are expected to generate opportunities for sports fishing equipment manufacturers.
Why Do Fishing Rods Account for More than 30% of Sports Fishing Equipment?
Sports fishing equipment broadly comprises fishing rods, reels, hooks, lures, lines, rigs, and jig heads. Fishing rods account for a major revenue share, and are also expected to display a higher-than-average rate of growth.
Fishing rods accounted for over US$ 817 Mn in 2020, and growth of the segment can be attributed to the relatively higher value of rods, wide range of rods for varying fishing activity types, and product options available for all costs and levels of fishing expertise.
Why are Sports Organizers a Driving Force in the Sports Fishing Equipment Industry?
Major buyers of sports fishing equipment include individual consumers, fishing clubs, and sport event organizers. Sport organizers account for higher purchases of fishing equipment, and are projected to reflect a higher growth rate of over 5% through the assessment period.
Some of the leading sports fishing tournaments on a global scale include the Bisbee Black and Blue, in Mexico, the Los Sueños Signature Triple Crown in Costa Rica, the Mississippi Gulf Coast Billfish Classic, the Annual Big Rock Blue Marlin Tournament, The World Cup Blue Marlin Tournament Worldwide, the Bermuda Big Game Classic, the Annual White Marlin Open, and the Pirate's Cove Billfish Tournament. These events play key roles in increasing consumer interest and drive the potential for sales of sports fishing equipment.
How Will Independent Sports Outlets Contribute to Sales of Sports Fishing Equipment?
Leading channels of distribution for sports fishing equipment include independent sports outlets, franchised sports outlets, modern trade channels, direct to consumer brand outlets, and direct to customer online channels. Independent sports outlets remain highly sought-after, owing to easier access to a wide range of products and brands.
While independent sports outlets are expected to account for more than 30% of the market through 2031, franchised sports outlets are estimated to display faster growth, supported by geographical expansion efforts taken by leading manufacturers, including Aftco Mfg. Co. Inc., Shimano Inc., and Globeride Inc.
The sports fishing equipment market is moderately fragmented in nature, with significant presence of regional players. Leading manufacturers are increasingly focused on product development and launch strategies, with a focus on material and design improvements.
- For instance, in October 2020, The Kistler Rods announced the launch of its budget range of Kistler GRAPHITE rods, which are priced at US$ 150. These products are hand-produced, and the company offers a one-year replacement warranty.
- Catch Co. in December 2020, announced the closure of a US$ 6 million funding aimed towards product and brand development, including fishing tackle subscriptions, lures, and rods, and the launch of Karl's Bait & Tackle e-Commerce platform.
- Minn Kota launched its Raptor range of shallow water anchors, which feature proprietary active anchoring and auto bottom functionality modes to keep boats steady in varying shallow water settings, costing up to US$ 1,899.99.
Fact.MR has also studied the following sports fishing equipment manufacturers in its detailed study*:
- EagleClaw Midstream Services LLC
- Newell Brands Inc.
- Okuma Fishing Tackle Corporation
- Shimano Inc.
- Aftco Mfg. Co. Inc.
- Globeride Inc.
- O. Mustad & Son A.S.
- Rapala VMC Corporation
*This list is indicative- full details about the sports fishing equipment manufacturers are available upon request.
Historical Data Available for
USD Million for Value
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Customization & Pricing
Key Questions Answered in Report
- How will the sports fishing equipment market expand through 2031?
As per the Fact.MR market study, the global sports fishing equipment market is likely to display steady growth due to rising consumer interest in recreational water sporting events, reflecting a moderate CAGR of around 4.5% through 2031.
- Which is the dominant sports fishing equipment market?
Currently, North America is the leading market for sports fishing products. The market is driven by a strong recreational fishing culture and easier access to new technologies and designs in the region.
- How is COVID-19 impacting the sports fishing equipment growth projections?
The COVID-19 pandemic has significantly affected the growth of the industry across the world. Strict lockdown restrictions through 2020, in terms of outdoor activities, have hurt the need for fishing equipment. However, resumption of services in select regions will aid recovery towards 2021.
- Which are some of the prominent market players?
Prominent sports fishing equipment manufacturers include
Enquiry before Buying
Is the research on sports fishing equipment conducted by Fact.MR?
Yes, the global sports fishing equipment research report has been compiled by expert analysts of Fact.MR through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses demand-side assessment of the market, and triangulates the same through supply-side analysis. This methodology is based on use of standard market structure, methods and definitions. Request a detailed methodology
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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Key Segments of Sports Fishing Equipment Market
- Jig Heads
- Individual Consumers
- Sports Organizers
- Independent Sports Outlets
- Franchised Sports Outlets
- Modern Trade Channels
- Direct to Consumer Brand Outlets
- Direct to Customer Online Channels
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- Europe (Germany, UK, France, Spain, Italy, Nordic, Rest of Europe)
- Asia Pacific excluding Japan (China India, Malaysia, Thailand, Singapore, Australia, Rest of APEJ)
- Middle East and Africa (GCC Countries, South Africa, Nigeria, Israel)
Sports Fishing Equipment Market: Report Scope
A new market study published by Fact.MR on the global sports fishing equipment market provides readers with an exhaustive analysis on key market dynamics, including the drivers, restraints, opportunities, and trends, along with comprehensive data on the structure of the market. The report also provides information on the growth of the sports fishing equipment market throughout the assessment period of 2021 to 2031.
Major indicators of growth, including the value chain and Year-on-Year (Y-o-Y) growth of the market in addition to compounded annual growth rate (CAGR) and supply chain analysis have been covered in the market study. The data allows readers better comprehension of the prospects of the sports fishing equipment market through the forecast period.
The report can prove to be very relevant for key stakeholders in the sports fishing equipment industry, including suppliers, manufacturers, investors, and distributors, aiding them in the development of informed strategies to take advantage of the trends in the market space. Stakeholders in the sports fishing equipment market - investors, industry experts, researchers, and journalists, can make use of the data presented in the Fact.MR study.
The study also covers key statistics on the economic factors that shape the development of the sports fishing equipment market. It also gives actionable data on the potential of the future trends in the market. Also, small-scale players and new entrants in the sports fishing equipment industry can leverage the information given in the report, to support informed business decisions gaining traction in the sports fishing equipment market.
This market report offers an exhaustive analysis on different features, including product developments, regulatory landscape, demand, sales, and revenue generation in the global sports fishing equipment market.
In-depth estimates about the market have also been given through optimistic and conservative scenarios in terms of the sales of sports fishing equipment during the projection period. A comparison of price points by region and global average price is also covered in the study.
Segments of Market
Fact.MR’s report on the sports fishing equipment market offers data classified into four segments — product, end user, distribution channel, and region. This report offers essential data about the major market dynamics and growth parameters associated with these categories.
Key Questions Answered in Report
- Which regions will remain the more lucrative regional markets for sports fishing equipment?
- Which factors will induce changes in the demand for sports fishing equipment during the assessment period?
- How will changing trends impact the sports fishing equipment landscape?
- How can market players capture the low-hanging opportunities in developed regions?
- Which companies are leading the sports fishing equipment market space?
- What are the winning strategies of stakeholders in the sports fishing equipment market to upscale their position in this landscape?
In Fact.MR’s study, a unique methodology for research has been implemented to conduct detailed research on the developments in the sports fishing equipment market, and reach conclusions on the basic growth parameters of the market for the future. This research methodology is a combination of primary and secondary research, which helps analysts maintain the accuracy and reliability of the conclusions drawn.
Secondary resources referred to by analysts during the preparation of the sports fishing equipment market study include statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed product portfolio managers, CEOs, senior managers, market intelligence managers VPs, and marketing/product managers, all of whom have contributed to the development of the study as a primary resource.
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