Sports Fishing Equipment Market size to grow by USD 2.09 Bn | Market

NEW YORK, Nov. 22, 2021 /PRNewswire/ — “Sports Fishing Equipment Market by Product and Geography – Forecast and Analysis 2021-2025” has been added to Technavio’s offering. The report features AFTCO Mfg. Co. Inc., Fairpoint Outdoors AS, and Gamakatsu USA Inc. among others as dominant players in the market.

The market is expected to witness a YOY growth rate of 1.53% in 2021 and will progress at a CAGR of 2.80% during the forecast period. The report segments the market by product (fishing rod, fishing reel, fishing lure, and others) and geography (North America, Europe, APAC, South America, and MEA).

View FREE Sample: to know additional highlights and key points on various market segments and their impact in coming years.

Vendor Insights

• The global sports fishing equipment market is fragmented due to the presence of several global and regional players.

• Vendors are focusing on launching new products backed with innovative technologies to remain competitive in the market and expand their shares.

• Some vendors are offering personalization options in their products to gain customer interest and drive sales.

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

Find additional highlights on the growth strategies adopted by vendors and their product offerings. Read Free Sample Report.

Geographical Market Analysis

• The report analyzes the growth of the market across APAC, Europe, MEA, North America, and South America.

• North America will emerge as the largest market for sports fishing. The region holds 40% of the global market share.

• Increasing consumer spending on outdoor recreation will be crucial in driving the sports fishing equipment market in North America.

• Countries such as the US, China, France, Germany, the UK, and Japan are expected to emerge as prominent markets for sports fishing equipment during the forecast period.

Know more about this market’s geographical distribution along with the detailed analysis of the top regions. www.technavio.com/report/sports-fishing-equipment-market-industry-analysis

Story continues

Key Market Drivers & Challenges:

Key driver:

• The market is driven by the increasing popularity recreational fishing as the major factor driving growth.

• Many countries, especially in the Mediterranean region are encouraging fish tourism to generate revenue and address short-term losses.

• Such efforts are resulting in increased individual interest in recreational fishing, which is subsequently boosting the sales of sports fishing equipment globally.

Key trend:

• The integration of innovative features in sports fishing equipment will be the major trend in the market.

• Vendors in the market are focusing on the development of sports fishing equipment by integrating various innovative features.

• For instance, some vendors are integrating sensors in their products that help end-users track…