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A new market study, titled “Discover Global Sports Fishing Equipment Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
According to the latest report on sports fishing equipment market, the CAGR is expected to show moderate growth during the forecast period. Sports fishing is slowly gaining ground and becoming a popular recreational sport in various regions across the world. Due to the rising popularity of sports fishing as a sports as well as recreational activity, governments of various regions across the globe are working towards fishing development. Key nations such as the United States and United Kingdom are focusing their efforts towards increasing their fishing platforms. This enables the fishing communinity to have improved access to water bodies for fishing purpose. These factors positively contribute towards the growth of the sports fishing equipment market.
Sports fishing, alternatively known as recreational fishing, simple put means fishing for pleasure or at the competition level. Sports fishing equipment that is commonly used includes a rod, reel, line, hooks and different baits or lures. North America has so far recorded the highest demand for sports fishing equipment, followed by Europe. China is forecasted to maintain the highest growth rate during the period under consideration due to increasing incomes and a rise in downstream applications.
Due to the rising popularity of recreational or sports fishing, many governments are taking efforts to tackel issues like habitat degradation, restoration of marine biodiversity to keep he ecosystem intact and to improve the aquatic systems that support sports fishing. These factors contribute towards the global rise in CAGR of th sports fishing equipment market. Despite the existence of heavy competition, the future for sports fishing equipments looks promising as investors are hopeful of increasing demand and newer investments during the forecast period.
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Key Players of Global Sports Fishing Equipment Market =>
By product, the sports fishing equipment market is segmented as rods, reels and components, lines, leaders, lures, files, baits, terminal tackle and electronics.
On the basis of application, the sports fishing equipment market is segmented as freshwater fishing and saltwater fishing.
The end users of sports fishing equipments are individuals, clubs and sports organizations. Clubs and organizations are driving the market by hosting various fishing events and tournaments and encouraging people to participate in the same. A number of governments across various segments too are focusing on fishing development, thus positively driving the market.
Geographically, the sports fishing equipment market is segmented as North America, Europe, Asia Pacific, South America and Middle East and Africa.
The North American segment is further segmented as USA, Canada and Mexico. The European region is further segmented as Germany, France, UK, Russia and Italy. The Asia Pacific segment is further segmented as China, Japan, Korea, India, Australia and Southeast Asia. The Middle Eastern and African segment is further segmented as Egpyt, South Africa, Israel, Turkey and GCC countries.
The North American segment is the leading segment in the sports fishing equipment market based on it market share and this dominance is expected to continue during the forecast period.
The global players in the sports fishing equipment market are coming up with innovations and improvements in sports fishing gear in a bid to drive the quality of sports fishing as an activity. Some of these innovations include the Airbomb – a revolutionary mid-air baiting device, the world’s most advanced fishing reel developed by Shimano, and so on.
Major Key Points of Global Sports Fishing Equipment Market
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