The global fishing equipment market is expected to grow from US$ 23,799.79 million in 2021 to US$ 31,835.53 million by 2028; it is estimated to register a CAGR of 4.2% from 2021 to 2028.

Increasing participation in recreational fishing and the growth of fish-based tourism in developing countries are the key factors attributed to drive the fishing equipment market during the forecast period.

Based on type, the fishing equipment market is segmented into fishing rods, nets and traps, hooks, reels, fishing lines, sinkers, and others. The fishing rods segment accounted for the largest market share in 2020. Growing number of anglers and increasing adoption of fishing as a recreational activity have fueled the demand for fishing rods. Based on distribution channel, the fishing equipment market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment is expected to grow because the staff is knowledgeable enough to explain the benefits and specifications of the products to customers so that they can find their product of interest; this attracts a fixed set of customers who later become regular buyers.

The fishing equipment market in Europe is expected to grow at the highest CAGR during the forecast period. The growth in sports and recreational activities and surge in e-commerce platforms are fueling the market growth in European countries. Europe is considered one of the growing markets for fishing equipment due to the rise in recreational fishing and anglers in the region. Thus, due to an increasing trend of recreational angling in the country, the demand for fishing rods, hooks, nets, traps, and fishing lines is increasing and driving the fishing equipment market in the region.

Eagle Claw Fishing Tackle Co.; Okuma Fishing Tackle Co. Ltd.; SHIMANO INC.; TICA FISHING TACKLE; AFTCO; RAPALA VMC CORPORATION; Weihai Guangwei Group Co., Ltd.; Decathlon SA; Daiwa; and Pure Fishing Inc. are among the key players operating in the global fishing equipment market.

The overall global fishing equipment market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the fishing equipment market.