Transparency Market Research (http://www.transparencymarketresearch.com) includes new market research report "Fishing Equipments Market" to its huge collection of research reports.
Albany, NY -- (SBWIRE) -- 03/04/2015 -- Fishing has emerged as a rather enjoyable and productive activity in regions such as North America, Asia Pacific, Europe and the Rest of the World (RoW). As a result, the market for fishing equipment is registering impressive rate of growth globally. Factors such as growing demand for fish and fish products, increasing disposable income of individuals, and rapidly growing market for fish consumption especially within the APAC region, have played a crucial role in transforming the spending culture in global retail markets leading to the surge in demand for fishing equipment. Besides this, an increasing number of consumers have been including fish as part of their daily diet, which has correspondingly spurred the demand for fishing equipment in the global market.
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The global market for fishing equipment can be categorized into rods, tippets and swivels, reels and poles, lures, tackle boxes, rigs, fishing lines, tools and pliers, files and baits, and hooks, on the basis of product types. It terms of fishing technique the global fishing equipment market can be segmented into trolling, angling, snagging, and long line fishing. Geographically, the global market for fishing equipment can be segmented into North America, Europe, APAC, and Rest of the World (RoW).
Rising Fish Consumption Due to Increasing Population to Boost Demand for Fishing Equipment
The global population is increasingly becoming aware of the health benefits associated with the consumption of fish. Growing fish consumption owing to overall increase in population and rising health consciousness have significantly bolstered the demand for fishing equipment in the global market. Besides, the increasing disposable income of individuals and rapid growth of fish and fish products market in the APAC region has contributed to the surge in demand for fishing equipment and other leisure products. Millions of anglers have increased their expenditure by several manifolds. This, coupled with increase in overall tax collected from fishing and motorboat fuel, has contributed greatly to support fish recreational programs and fisheries conservation. Moreover, increased awareness among consumers pertaining to the benefits of fish oil has created fresh opportunities for manufacturers in the fish and fishing equipment. All these factors have come together to bolster the fish equipment market.
Manufacturers Developing Advanced Fishing Gear to Address Increased Demand
The spur in global demand for fishing equipment has encouraged manufacturers to develop new and advanced fishing equipment. In order to address this surge in demand, global manufacturers have introduced new designs in fishing gear featuring long lines with hooks attached to the equipment for catching fish. It is important to note here that the global fishing gear or equipment market is largely driven by the culture of brand loyalty. A majority of anglers engaged in fishing activities prefer to use specific brands rather than opting for random products. This leads to a phenomenal surge of premium quality brands of fishing tackles. Further, the growing popularity of "catch and release" practice among anglers has decelerated the use of live bait, which in turn, creates increased demand for quality lures.
Manufacturers Could Tap into Local Fishing Equipment Market to Create Fresh Opportunities
The large section of the global fishing equipment market mostly located across developing economies is still accustomed to the use of indigenous and standardized products. Manufacturers could tap into these largely unorganized fishing sectors to explore new markets for their products. Additionally, increasing popularity of fishing as a recreational activity has also created fresh opportunities for fish equipment manufacturers.
Global Fishing Equipment Market features a Competitive Landscape
Fishing equipment has a highly fragmented market with a large number of large and medium-scale companies vying to acquire the lion's share in the market. The list of major players dominating the market includes companies such as Grandt Industries, Lureflash International Ltd., Gamakatsu Co Ltd., Arcom International, Berkley, Jim Teeny Inc., Gibbs/Nortac Fishing Inc., Rome Specialty Company, Jarden Corporation, K2 Inc., AFTCO Mfg. Co., Penn Fishing Tackle Manufacturing Company, Sea Master Enterprise Co. Ltd. Storm Lures Corporation, Fenwick, and Eppinger Mfg. Co.
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