The global fishing hooks market is predicted to achieve growth as fishing gains significance as a recreational, social, and sporting activity and an important contributor to the economic growth of some countries. Introduction of new fish lures and baits and technically advanced products is foreseen to create strong demand in the global market. Manufacturers are also offering eco-friendly fishing hooks amid increasing awareness about marine environment protection.
The requirement of non-stainless steel, non-offset circle hooks is expected to increase in the US because of the implementation of new shore-based shark fishing regulations approved by the Florida Fish and Wildlife Conservation Commission. The new shark fishing mandates will be in effect from July 2019.
Growing Participation in Sport and Recreational Fishing to Create Soaring Demand
Increasing popularity of sport fishing, growing number of fishers, and high participation in seashore and saltwater fishing are some the crucial factors augmenting the demand in the global fishing hooks market. As fishing techniques continue to develop, the requirement of corrosive-resistant, high-strength, and advanced fishing hooks is expected to grow in the coming years. Rising adoption of sustainable fishing practices could be a powerful factor pushing the demand for environment-friendly fishing hooks. Availability of a wide array of products from complex to easy-to-use fishing hooks is anticipated to help manufacturers to expand their customer base.
Important Points to Remember
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Manufacturers to Introduce Environment-friendly Products to Help Fishers Reduce Footprint
The global fishing hooks market marks the presence of leading players such as Wright & McGill, TTI-Blakemore Fishing Group, Gamakatsu, Pure Fishing, Inc., Rapala VMC, TIEMCO Ltd., O. Mustad and Son, and Owner Hooks Co. Ltd. Vendors are predicted to come up with products that will help anglers to leave minimum footprint. Furthermore, customers could be offered with products that can be used for less harmful fishing tackles and that are environment-friendly. In 2019, freshwater and saltwater fishing hooks provider, Gamakatsu USA launched range of new products including Double Assist 520, Magic Eye Tuna Plug, Finesse Jig Head, Spring Lock Monster, and G Finesse Tricky Head.
By Product Type
By Material Type
By Sales Channel
Among product type segments, circle hook is projected to become more prominent and grow faster in the global fishing hooks market in terms of sales. Advantages such as minimal damage to fish or aquatic habitat and reduced number of by-catches are expected to increase the demand for circle hook. Among material types, high carbon steel is forecast to account for a considerable market share. Among sales channels, general sporting goods store could show massive growth in the global market, whereas online channel is prognosticated to rise at a quicker CAGR.
By Region
Analysts expect North America to bank on larger sales growth in the US to secure a significant share of the global fishing hooks market. High participation in fishing activities, growing interest in recreational fishing, and lucrative sales opportunities in the fishing industry are some of the factors anticipated to work in the favor of the US market. On the other hand, the global market could witness Asia Pacific growing at a faster pace due to the rise of the fishing industry and high demand for fish as an important source of protein.
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Table of Contents
Overview of the Report: The report starts with research scope, major players studied by the authors, years considered for the research study, objectives of the study, and analysis of market share by application and market size growth rate by type.
Global Growth Trends: Here, the size of the global Bio-pharma market is studied along with sales and revenue analysis. This section also includes industry trends and analysis of the growth rate of the global Bio-pharma market by region.
Regional Analysis: All of the regions and countries analyzed in the report are studied on the basis of revenue, sales, and share in the global Bio-pharma market.
Company Profiles: Almost all leading companies operating in the global Bio-pharma market are profiled in this section, taking into account their recent developments, market share, and other vital factors.
Market Forecast: Apart from revenue and sales forecast of the global Bio-pharma market, this section provides forecast of all
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