Growing World Population Buoys Global Fishing Equipment Market

Published By : 14 Dec 2016 | Published By : QYRESEARCH

Any equipment or gear that aids in fishing can be labelled as a fishing equipment. The global market for fishing equipment can be segmented upon the various products available in the market into rods, reels and poles, tools and pliers, fishing lines, rigs, flies and baits, lures, hooks, sinkers, tackle boxes, and tippets and swivels. There are various fishing techniques too deploying one or more of the aforementioned instruments. They are long trolling, line fishing, angling, and snagging. Important players in the global fishing equipment market are Penn Fishing Tackle Manufacturing Company, Arcom International, Berkley, Castaic Soft Bait, Inc., Fenwick, Gamakatsu Co., Ltd., Grandt Industries, Gibbs/Nortac Fishing, Inc., Hedron, Inc., Daiwa Corporation, and Jim Teeny Inc.

High Nutrition Quotient of Fish Ups Demand for Fishing Equipment

At the forefront of driving demand in the global market for fishing equipment is the need for food of a burgeoning world population. Next comes the shifting preference for non-vegetarian food. In fact, on account of their oil, which is high on nutrition quotient and medicinal properties, fish is in much demand. This, combined with greater spending power of people, particularly in the rapidly growing densely populated economies in the Asia Pacific, has upped spending in the retail sector, thereby generating demand for fishing equipment and various other leisure products.

Substandard Products in Regional Markets Presents Growth Opportunities

In the next couple of years too, the largely unorganized fishing sector presents substantial opportunity due to the rising ranks of fishing enthusiasts, worldwide and local substandard products sold in the regional markets. Another factor predicted to boost the market’s growth is the increasing thrust by authorities and non-governmental bodies worldwide to preserve habitats and restore marine biodiversity. For instance, the EU recently has taken steps to adopt a sustainable fishing authorization system by pledging to better monitor the proper fishing practices across international waters.

Geographically, the global market for fishing products can be divided into Asia Pacific, North America, Europe, and the Rest of the World. All of them, currently, have a substantial market for fishing equipment.

Back To Top