Sports Fishing Equipment Market Research Report By Equipment Type (Rods, Reels, Lines, Hooks, Baits and Lures, Tackle Boxes and Bags, Fish Finders and GPS Devices), By Fishing Technique (Fly Fishing, Spinning, Baitcasting, Trolling, Jigging, Ice Fishing), By Target Species (Salmon, Trout, Bass, Walleye, Tuna, Marlin, Swordfish), By Distribution Channel (Retail Stores, Online Retailers, Sporting Goods Stores, Discount Stores, Specialty Shops, Wholesale Distributors), By End User (Recreational Anglers, Professional Anglers, Charters and Guide

Sports Fishing Equipment Market Overview

Sports Fishing Equipment Market Size was estimated at 14.99 (USD Billion) in 2022.The Sports Fishing Equipment Market Industry is expected to grow from 15.64(USD Billion) in 2023 to 22.9 (USD Billion) by 2032. The Sports Fishing Equipment Market CAGR (growth rate) is expected to be around 4.33% during the forecast period (2024 - 2032).

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Key Sports Fishing Equipment Market Trends Highlighted

The Sports Fishing Equipment Market exhibits significant growth, driven by factors such as rising disposable income, increasing participation in recreational fishing activities, and technological advancements in fishing equipment. Key market drivers include the growing popularity of sport fishing as a leisure activity, environmental conservation efforts promoting sustainable fishing practices, and government initiatives to promote fishing tourism.Opportunities for market exploration lie in expanding into emerging markets, developing innovative and eco-friendly fishing equipment, and targeting specific segments such as tournament anglers and aspiring fishermen. Recent trends highlight the growing popularity of sustainable fishing practices, leading to a surge in demand for eco-friendly equipment and accessories. Additionally, the proliferation of social media and online fishing communities has fueled the rise of influencer marketing and peer-to-peer recommendations within the industry.

Sports Fishing Equipment Market Drivers

Rising Popularity of Recreational Fishing

Different trends triggering the sports fishing equipment market include the growing preference for recreational fishing activities. In addition, as the number of people opting for Fishing as their leisure or hobby increases, they need to purchase specific equipment, such as rods, reels, lures, and others. This trend will continue in the upcoming years since they are encouraged by several factors, including the growing number of people possessing more disposable income, as well as those getting urbanized and becoming fond of out-of-home activities.In addition, the increasing number of people participating in catch-and-release fishing activities also stimulates the demand for sports fishing equipment.

Technological Advancements

The third driver of the Sports Fishing Equipment Market is technological advancements. Nowadays, manufacturers develop new products and technologies for anglers in order to stay at the forefront and increase profits each year by meeting the changing demands of customers. Technological advancements mainly have to do with the materials used to manufacture rods and reels, such as carbon fiber or titanium, which are light and help create more sensitive rods or a combination of titanium and other metals to create robust rods.Moreover, manufacturers also work on the development of electronic devices, such as fish finders, GPS systems, and many others that could be useful for anglers. Such devices combining optical or chemical sensors with computer processing to collect and display information enable anglers to locate schools of fish, improving an overall recreational fishing experience.

Growth of Competitive Fishing

Another factor contributing to the rising demand for sports fishing equipment is the increasing popularity of competitive Fishing. With the rising number of professional fishing tournaments and competitions where even recreational Fishing has become lucrative with the introduction of significant prize pools, the number of anglers all over the world is growing. Thus, investing in the high performance of the equipment becomes a common trend, and this growth is expected to be observed within the next few years.

Sports Fishing Equipment Market Segment Insights

Sports Fishing Equipment Market Equipment Type Insights  

The Sports Fishing Equipment Market is segmented into several types of equipment, including rods, reels, lines, hooks, baits and lures, tackle boxes and bags, and fish finders and GPS devices. Each segment is important for the overall fishing experience and contributes to the market growth. Rods  Fishing rods are used to cast a line and reel in fish. They come in a variety of lengths, materials, and actions to suit different fishing methods and target species. The global market of fishing rods is projected to expand considerably as more people are getting involved in recreational Fishing, and advancements are allowing for better rod designs and performance. Reels  Fishing reels are used to store and retrieve the fishing line. They come in a variety of types, such as spinning reels, baitcasting reels, and fly reels, each possessing different advantages and purposes. The global market of fishing reels is boosted by factors, such as the growing adoption of lightweight and sturdy reels and the rising interest in high-performance reels among the anglers. Lines  Fishing lines are used to attach the reel to the hook and bait. They come in various compositions, diameters, and strengths to accommodate different fishing conditions and target species.The global market of fishing lines is affected by such factors as the improvement in line technologies, such as the creation of stronger and more abrasion-resistant fishing lines. Hooks  Fishing hooks are used to catch and keep fish. They come in a variety of sizes and shapes and are created from different materials to accommodate various types of bait and fishing methods. The global market of fishing hooks is driven by the increasing demand for specialized hooks for specific fish and the advancements in hook materials and designs. Baits and Lures  Baits and lures are used to attract and catch fish.They come in a variety of forms, such as live bait, artificial lures, and flies. The global market of baits and lures is affected by the growing preference for artificial lures and the increasing call for sustainable and realistic lures. Tackle Boxes and Bags  Tackle boxes and bags are used to store and arrange the fishing equipment. They come in a variety of sizes and designs to satisfy the various demands and preferences of the anglers. The global market of tackle boxes and bags is influenced by the rising activity in Fishing and the need for durable and comfortable storage solutions. Fish Finders and GPS Devices Fishfinders and GPS devices are used to locate fish and navigate waters. The devices provide the anglers with information about the depth of the water, the type of the bottom, and the whereabouts of the fish. The global market of fish finders and GPS devices is expanding due to technological advancements, such as the introduction of high-resolution sonar and GPS features.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Sports Fishing Equipment Market Fishing Technique Insights  

The Sports Fishing Equipment Market is segmented by Fishing Technique into Fly Fishing, Spinning, Baitcasting, Trolling, Jigging, and Ice Fishing. Among these, Spinning is projected to account for the largest market share in 2023, which will be around 35% of the Sports Fishing Equipment Market revenue. It is caused by the technique's versatility and applicability to a large number of fishing opportunities. Fly Fishing, in turn, will be the fastest-growing technique during the forecast period because the number of recreational anglers who use this technique is increasing along with their desire for a more challenging and close-to-nature experience.Baitcasting, Trolling, Jigging, and Ice Fishing techniques will also be growing, sharing this general trend towards the improvement of their technologies, an increase of fishing tournaments' popularity, and the enlargement of the customer audience.

Sports Fishing Equipment Market Target Species Insights  

The Target Species segment plays a crucial role in the Sports Fishing Equipment Market. In 2023, the market for salmon fishing equipment is estimated to be valued at USD 3.49 billion and is projected to reach USD 4.7 billion by 2032, exhibiting a CAGR of 4.2%. The trout fishing equipment market is valued at USD 2.85 billion in 2023 and is expected to grow to USD 3.85 billion by 2032, with a CAGR of 4%. The bass fishing equipment market is anticipated to witness a CAGR of 3.9%, rising from USD 2.57 billion in 2023 to USD 3.45 billion by 2032. The walleye fishing equipment market is valued at USD 1.98 billion in 2023 and is projected to reach USD 2.67 billion by 2032, representing a CAGR of 4.1%.The market for tuna fishing equipment is estimated to be valued at USD 1.68 billion in 2023 and is anticipated to grow to USD 2.26 billion by 2032, with a CAGR of 4%. The marlin and swordfish fishing equipment market is valued at USD 1.23 billion in 2023 and is expected to reach USD 1.65 billion by 2032, exhibiting a CAGR of 4.2%. These estimates highlight the growing demand for specialized fishing equipment tailored to specific target species as anglers seek enhanced performance and efficiency in their fishing endeavors.

Sports Fishing Equipment Market Distribution Channel Insights  

The Sports Fishing Equipment Market is segmented by distribution channel into retail stores, online retailers, sporting goods stores, discount stores, specialty shops, and wholesale distributors. Among these channels, online retailers are expected to witness the highest growth over the forecast period, owing to the increasing popularity of e-commerce and the convenience it offers to consumers. In 2023, the Sports Fishing Equipment Market revenue through online retailers is projected to reach USD 4.5 billion, and it is estimated to register a CAGR of 5.2% to reach USD 6.2 billion by 2032.Retail stores continue to account for a significant share of the market due to the wide variety of products they offer and the personalized shopping experience they provide. Sporting goods stores are also a popular channel for the distribution of sports fishing equipment, as they cater to the specific needs of anglers. Discount stores and specialty shops play a niche role in the market, targeting budget-conscious consumers and those looking for specialized equipment, respectively. Wholesale distributors act as intermediaries between manufacturers and retailers, ensuring the smooth flow of products to the end consumers.

Sports Fishing Equipment Market End User Insights  

The Sports Fishing Equipment Market Segmentation by End User comprises Recreational Anglers, Professional Anglers, Charters and Guides, and Commercial Fishermen. Among these segments, Recreational Anglers hold the largest market share, accounting for over 60% of the Sports Fishing Equipment Market revenue in 2023. The growth of this segment is attributed to the increasing popularity of recreational Fishing as a leisure activity, driven by factors such as stress relief, enjoyment of nature, and social interaction. Professional Anglers, on the other hand, represent a smaller but significant segment, with their market share expected to experience steady growth in the coming years due to the rising number of fishing tournaments and competitions.Charters and Guides who provide guided fishing experiences for recreational anglers are also anticipated to witness market growth driven by the increasing demand for personalized and tailored fishing experiences. Commercial Fishermen, who use fishing equipment for commercial purposes, account for a relatively smaller share of the Sports Fishing Equipment Market, but their segment is expected to remain stable over the forecast period.

Sports Fishing Equipment Market Regional Insights  

The Sports Fishing Equipment Market is segmented by region into North America, Europe, APAC, South America, and MEA. North America is expected to dominate the market in 2023 with a market value of USD 6.23 billion. Increasing demand for recreational activities, including Fishing, coupled with growing consumer spending on outdoor activities, contribute to the region's dominance. The Sports Fishing Equipment Market Segmentation by region provides valuable insights, enabling market players to tailor their strategies and offerings to specific regional demands and preferences.Sports Fishing Equipment Market Data reveals that the APAC region is projected to witness the fastest growth during the forecast period, owing to rising participation in fishing tournaments and a surging middle-class population with increased disposable income. In 2023, the Sports Fishing Equipment Market Statistics indicate that Europe holds a significant market share of around USD 4.12 billion. The region's established fishing industry, advanced manufacturing capabilities, and large consumer base support market growth. South America and MEA offer emerging opportunities for market growth, driven by increasing tourism and recreational fishing activities.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Sports Fishing Equipment Market Key Players And Competitive Insights

Developing new and innovative products is the key strategy adopted by the major players in the Sports Fishing Equipment Market industry. In addition, major companies are undertaking frequent mergers and acquisitions, as well as joint ventures and partnerships, in order to achieve a higher market share. The Sports Fishing Equipment Market is anticipated to grow in the upcoming years owing to factors such as an increase in fishing participation and growth in disposable income. In addition, the competitive Sports Fishing Equipment Market scenario is mainly due to the presence of many global and regional players in the Sports Fishing Equipment Market, along with the presence of several new entrants. The major sports fishing equipment market players are adopting a range of strategies to expand their market share.

A very important contributor to the Sports Fishing Equipment Market is Shimano. Shimano provides an extensive variety of fishing rods, reels, and lures and prides itself on the high quality of its products. The company also has a strong sports fishing equipment market presence and is one of the key players. Another important contributor to the Sports Fishing Equipment Market is Daiwa. Daiwa also has a broad selection of fishing rods, reels and lures, with both products known for their high quality. The company's presence is strong in the Asia market and is now expanding to other markets as well. Abu Garcia is yet another major contributor to the Sports Fishing Equipment Market. The company offers a diverse range of fishing rods, reels, and lures throughout the product range and is known for the creativity of its products. The firm's presence is strong in the North American market and is currently expanding to other major markets.

Rapala is a key contributor to the Sports Fishing Market, with a strong presence in the lure market. The company features a wide variety of lures, including crankbaits, jerkbaits, and spoons, as well as plastic lures. Its presence is strong in the North American market and is now increasing in other major markets. Another vital contributor to the sports fishing market, with a banner presence in the fishing line market, is Berkley. The company offers a large line of fishing lines, including monofilament, fluorocarbons, and braided lines. Its presence is strong in the North American market and is now increasing in other major markets. Strike King, meanwhile, is another major contributor to the sports fishing market with a strong emphasis on the lure market. The lures market line includes a large selection of lures, such as crankbaits, spinnerbaits, and jigs. Its presence is strong in the North American market and is now increasing in other major markets.

Key Companies in The Sports Fishing Equipment Market Include

• Quantum


• Berkley


• Croix Rod


• Loomis


• Rapala


• Okuma


• Pure Fishing


• Electric Blue Fishing


• Fenwick


• Costa Del Mar


• Daiwa


• AFTCO


• Shimano

Sports Fishing Equipment Market Industry Developments

The Sports Fishing Equipment Market is expected to reach USD 22.9 billion by 2032, exhibiting a CAGR of 4.33% during the forecast period. The market growth is attributed to increasing participation in recreational fishing activities, rising disposable income, and technological advancements in fishing equipment. Asia-Pacific accounted for the largest market share in 2023, owing to the growing popularity of Fishing as a leisure activity in countries like China, Japan, and India. North America is expected to witness significant growth over the forecast period due to the presence of a large number of fishing enthusiasts and well-established fishing infrastructure. Key industry players include Shimano, Daiwa, Abu Garcia, and Rapala VMC. Recent developments in the market include the launch of eco-friendly fishing equipment and the adoption of advanced technologies like GPS and sonar systems.

Sports Fishing Equipment Market Segmentation Insights

Sports Fishing Equipment Market Equipment Type Outlook

• Rods


• Reels


• Lines


• Hooks


• Baits and Lures


• Tackle Boxes and Bags


• Fish Finders and GPS Devices

Sports Fishing Equipment Market Fishing Technique Outlook

• Fly Fishing


• Spinning


• Baitcasting


• Trolling


• Jigging


• Ice Fishing

Sports Fishing Equipment Market Target Species Outlook

• Salmon


• Trout


• Bass


• Walleye


• Tuna


• Marlin


• Swordfish 

Sports Fishing Equipment Market Distribution Channel Outlook

• Retail Stores


• Online Retailers


• Sporting Goods Stores


• Discount Stores


• Specialty Shops


• Wholesale Distributors

Sports Fishing Equipment Market End User Outlook

• Recreational Anglers


• Professional Anglers


• Charters and Guides


• Commercial Fishermen

Sports Fishing Equipment Market Regional Outlook

• North America  


• Europe  


• South America  


• Asia-Pacific  


•  Middle East and Africa