Global Sports Fishing Equipment Market 2018-2022
About Sports Fishing Equipment
Sports fishing, also known as recreational fishing, is fishing for pleasure or competition. It is mainly done with arod, reel, line, hooks, and a range of baits or lures. The practice of catching fish with a hook is called angling. Hence, people who participate in sports fishing are also known as anglers.
Technavio’s analysts forecast the global sports fishing equipment market to grow at a CAGR of 3.71% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global sports fishing equipment market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of sports fishing equipment.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Sports Fishing Equipment Market 2018-2022
Technavio recognizes the following companies as the key players in the global sports fishing equipment market: EAGLE CLAW, Newell Brands, OKUMA FISHING TACKLE, SHIMANO, TICA FISHING TACKLE, and AFTCO.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the advent of FADS. The introduction of fish aggregating devices (FADS) is drawing the attention of several sports fishermen, particularly in the Caribbean islands. Fishermen bait primary species such as mahi-mahi, billfish, and small to medium-sized tuna using FADS. Fishermen in the Dominican Republic are increasingly adopting FADS to trap billfish. Various fishermen also adopt these devices in areas such as eastern Atlantic side of Antigua, St. Lucia, and the west coast fishing villages.”
According to the report, one of the major drivers for this market is the rising popularity of fishing. People of all age group are increasingly participating in fishing because it is considered as a popular recreational activity Fishing activity not only forges a deep connection with nature but also fosters bonding with family and friends and encourages wellness. The number of new fishing participants comprising of female and youth is higher in comparison to the general fishing population. In addition, freshwater fishing is considered as the most popular form of fishing as participants extensively prefer fishing in fresh water over salt water. Consequently, the demand for sports fishing equipment will also increase
EAGLE CLAW, Newell Brands, OKUMA FISHING TACKLE, SHIMANO, TICA FISHING TACKLE, and AFTCO.