Gulf of Mexico Fishing Industry Harold F. Upton Analyst in Natural Resources Policy February 17, 2011 Congressional Research Service 7-5700 www.crs.gov R41640 . (National Oceanic and Atmospheric Administration). Global Sport Fishing Tackle Market Report 2019 has complete details about market of Sport Fishing Tackle industry, Sport Fishing Tackle analysis and current trends. In addition, angling tourism in Ireland that brings more revenue than golf is helping in increasing awareness regarding these outdoor sports, thus positively impacting the regional market growth. Technavio market research analysts forecast the global sports fishing equipment market to grow at a CAGR of close to 4% during the period 2018-2022. Our support available to help you 24 hours a day, five days a week. The fishing industry has provoked various international disputes as wild fish capture rose to a peak about the turn of the century, and has since started a gradual decline. About 12% of households in the United States say that they participate in hunting or fishing activities on a regular basis. In 2018, according to the 2019 Special Report on Fishing by the Outdoor Industry Association, about 49.4 million people went for fish hunting to oceans, rivers, lakes, and streams in the U.S. This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. Industry News. That includes $796 million in income and about 16,000 direct employment opportunities. (American Sportfishing Association), #14. In addition, anglers spend more on fishing equipment and trips in comparison to what they spend on Valentine’s Day, Easter, and Halloween, according to the report. The global fish hunting equipment market size was valued at USD 15.2 billion in 2019 and is expected to witness significant growth in the forthcoming years. Industry News, What's Hot. (Bassmaster), #4. Soft bait, on the other hand, has experienced a spending increase of just 0.4%. Connecting youth to fishing will inspire passionate anglers and committed outdoor stewards, ultimately ensuring that our nation’s waterways are protected, our communities are healthy and our industry is thriving . Baits & lures are expected to register a revenue-based CAGR of 4.7% from 2020 to 2027. #9. (Statista), #18. Fly Fishing Retailers” was prepared by Southwick Associates , Inc., and it gives us a clearer picture of the state of the market than we have had in many years. Emerging trend of combination of different styles in topwater bass lures, such as blades, hollow body frogs, and other large prop baits, are boosting the growth of these fish hunting equipment. Moreover, fishing participation added 300,000 participants in 2018 in the country, thus reaching the highest number of participants since 2007. (Statista), #23. More than 1.62 million jobs are created, directly and indirectly, because of the commercial and recreational fishing industries. We’ve been fishing for virtually all of our recorded history. According to the survey, the favour of people to "fishing activities" is on the rise, and occupies the mainstream trend, thus greatly on the degree of animating the fishing tackle the demand of the market and affects the development of the whole fishing industry. Additional information National statistics. Published by David Lange, Dec 11, 2020 Fishing is one of the most popular outdoor recreational activities in the United States. The average household which purchases a fishing license will spend about $52 on the tackle they need for a positive experience. All interactions are confidential. For the purpose of this study, Grand View Research has segmented the global fish hunting equipment market report on the basis of product, distribution channel, and region: Product Outlook (Revenue, USD Million, 2016 - 2027), Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027), Regional Outlook (Revenue, USD Million, 2016 - 2027), We never share your personal data. Hunting & fishing industry comprises companies that operate by pursuing, hunting, and killing of wild animals for various reasons, such as food, recreation and trade. Presence of a number of lakes and rivers as well as a long coastline is increasing the application of fish hunting equipment. However, over the years fishing has changed extensively. From the first days of the modern lure to the early 1900s, metal spoons and spinners were the top products made and sold. In California, there are more than 64,000 anglers who spend over $54 million each year in the state. Fishing reels dominated the market for fish hunting equipment, accounting for a share of more than 28.2% of the global revenue in 2019. Europe is expected to register a revenue-based CAGR of 4.6% from 2020 to 2027 owing to growing popularity of recreational fishing in the region. The market intelligence study titled “Fishing Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024” delves into the prospect of growth of the world market for fishing equipment. The fishing industry as a whole, whether it is manufacturers of: lures, line, rods, reels, boats, motors, sunglasses, hooks, tackle boxes, etc. Moreover, fishing participation rate in Japan grew from 8.1% in 2011 to 8.7% in 2016. Fish Hunting Equipment Market Size, Industry Report, 2020-2027, Request discounts available for Start-Ups & Universities. Posted at 18:44 25 Dec 18:44 25 Dec. What does the deal mean for fishing? The economic impact of bass fishing in the United States, including economic output and indirect contributions, is more than $115 billion each year. By Chris Morris & Oliver Barnes. The market has been characterized by intense competition. For the 5-year period ending in 2017, the overall fishing industry experienced a market contraction of 0.6% annually. (Statista), #21. Hard bait spending increases are at 8.5%. Almost any equipment or gear used for fishing can be called fishing tackle. Taiwan is surrounded by seas with a coastline of over 1600 km. Avail customized purchase options to meet your exact research needs: "The quality of research they have done for us has been excellent...". With over 49 million anglers in the U.S. in 2018, recreational fishing is a formidable economic force in the country’s economy. Top players operating in the market include Orvis; Van Staal; Globeride, Inc.; Sensas; Maver UK Ltd.; PRADCO Outdoor Brands, Inc.; Eagle Claw; Costa Del Mar, Inc.; Pure Fishing, Inc.; and Newell Brands. It is followed by flounder/halibut, redfish, shellfish, and bluefish. Bass Pro Shops to Acquire Sportsman’s Warehouse . For instance, Cotton Cordell Pencil Popper is a new version of the Pencil Popper for a variety of inshore fish hunting. When combined, they helped to provide direct employment opportunities for more than 828,000 people. Growing involvement in different categories of fishing is increasing the number of fishing participants across various countries. In the context of the UK fishing industry. Design an exclusive study to serve your research needs. In addition, assistance by shop owners and in-store salespersons imparting knowledge about the application of these equipment has increased the preference for store purchases. New Trend: Fishing Reels and Lines Market: Industry Statistics and Facts Helps to Flourish Industry Rapidly – QYR| Eagle Claw, Newell Brands, Okuma, Shimano, Tica, 13 Fishing . Some commercial fishing has pushed species to the point where some fish have become endangered. Furthermore, growing digital entrepreneurship is helping to increase awareness regarding sport fishing among consumers through social media. More than 177,000 jobs are generated in Florida alone. (Bassmaster), #6. (Bassmaster), #5. We are in compliance with GDPR & CCPR norms. Fishing with this fishing equipment along with different fishing techniques brings a radical change in the fishing industry. The ocean covers 71% of the earth's surface and 80% of the value of exploited marine resources are attributed to the fishing industry. BBC Reality Check. Two-thirds of the tackle that is purchased for fishing in the U.S. is for freshwater species. Surge in online shopping as a result of rising awareness as well as increased convenience is fueling the growth of the online channel for fishing equipment. When residential and commercial fisheries are combined, they create a total impact of $208 billion in sales. Online distribution channel is expected to expand at a CAGR of 4.9% from 2020 to 2027. An angler on the Kennet and Avon Canal, England, surrounded by his tackle. (American Sportfishing Association), #8. Over time, fishing has gained popularity owing to its ability to train the practitioner in terms of improving patience as a key … For instance, according to 2019 Special Report on Fishing by the Outdoor Foundation, female participation reached 17.7 million in 2018 in the U.S. Get your queries resolved from an industry expert. Annual fishing expenditures in the United States total $45 billion. North America dominated the global market, accounting for a share of 60.2% of the global revenue in 2019. In fact, the Taiwanese fishing tackle industry has proved to be one of the most promising businesses in the entire leisure fishery field, exporting US$33 million in 2017,according to Taiwan’s latest customs statistics. Social network for fishermen, such as Fishbrain, is a dominant app and network in the U.S. with over 7 million users. Some regions, such as Southeast Asia, have up to 95% of their reefs over-fished. More than 33 million Americans say that they went fishing at least once in the past year. It also assesses the sequential growth of the said market over the forecast timeframe that extends from the year 2016 to 2024. #1. Additionally, rising number of female anglers is boosting the fish hunting equipment market growth, thereby increasing the sales of the fish hunting equipment. Fishing Tackle Market 2019 global research report gives detailed information on Fishing Tackle Market size, share, growth, trends, as well as demand/supply. Preference for offline shopping is increasing among anglers as it offers hands-on experience of the fish hunting equipment. Updated statistics from the UK's Marine Management Organisation on the UK fishing sector show that UK vessels landed 724 thousand tonnes of sea fish in 2017, with a value of £980 million. Most businesses within this industry are sole proprietors. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. Follow him on Instagram @joesills for updates from the field. Fishing tackle is the equipment used by anglers when fishing. (Bassmaster) #2. (National Oceanic and Atmospheric Administration), #16. This is followed by walleye pollock, shrimp, Pacific salmon, and sea scallops. (American Sportfishing Association), #10. In total, tackle brings in about $6 billion in retail sales each year. More than $15 billion in tax revenues was generated by fishing activities, which includes the purchase and use of fishing lures. Home » Statistics » 23 Fishing Lure Industry Statistics, Trends & Analysis. The most common time fishermen describe themselves as an “avid angler” is between the ages of 35-44, which is also when they have the most discretionary income to spend on this activity. Increasing presence of online retailers, such as Cabelas, Fishing Tackle Unlimited, Tackle Warehouse LLC, and Amazon, in the fishing equipment industry is helping in creating awareness among anglers regarding various types of fishing tackles available in the market. Independent marine recreational bait and tackle retails stores contribute $2.3 billion to the U.S economy. (National Oceanic and Atmospheric Administration), #24. (National Oceanic and Atmospheric Administration), #25. Additionally, increasing participation of the younger population, including children, as anglers are contributing to the robust growth of the market. 77% of anglers use some type of an artificial bait or lure when they are fishing. This report has a service guarantee. LED lures are one of the latest innovations from the industry, using flashing and strobing patterns, with multiple colors, to attract a fish to bite. (American Sportfishing Association), #13. 22 out of 30 tackle categories have seen spending increases in the past decade. Fishing industry. Global Fishing Tackle Boxes Market 2020-2026 industry research report has incorporated the analysis of different factors that augment the market’s growth. David Guest. Florida sees the bulk of this impact, with $28.7 billion in sales generated annually. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. Northland Reflects on the Legacy of Ron Lindner . The Angling Trades Association (ATA) represents manufacturers, wholesalers, distributors and retailers of fishing tackle and equipment and provides members with regular industry statistics. Over 55% of the world’s reefs are over-fished as well. (Bassmaster), #2. Although Italy, Greece and Portugal only produced about a combined one tenth (11.0 %) of EU fisheries production in 2017, they accounted for just over one-third (35.9 %) of employment (see Figure 2). Recreational fishing contributes more than $115 billion to the U.S. economy, including $48 billion spent on fishing equipment, supporting 828,000 jobs in the U.S. Important Bass Fishing Industry Statistics #1. Specialty stores dominated the offline channel segment due to availability of a large variety of fishing tackles in these stores. Increased presence of retail stores for fishing equipment such as The Fly Fishing Shop, White’s Tackle, FishUSA, and Tackle Berry is widening the product availability across regions, thereby driving the sales of fish hunting equipment through offline stores. More than one out of every six Americans goes fishing every year. There are certain factors that may put the health of this industry into doubt in the coming years. And have you ever heard of the old saying, "It's not what you know, it's who you know?" Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections. 16% of anglers have an HHI of $100,000 or more. This fishing category has witnessed an average growth of 1.2% since 2016, resulting in 39.0 million participants in 2018. (Statista), #22. (National Oceanic and Atmospheric Administration), #17. On behalf of the Board of Directors, welcome to the American Fly Fishing Trade Association, the sole trade organization for the fly fishing industry. Bass Pro Shops to Acquire Sportsman’s Warehouse. Some examples are hooks, lines, sinkers, floats, rods, reels, baits, lures, spears, nets, gaffs, traps, waders and tackle boxes. Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. North America dominated the global market, accounting for a share of 60.2% of the global revenue in 2019. More than $16 billion of that is dedicated solely to bass fishing equipment and accessories. Growing trend of fly fishing in the outdoor industry is compelling a number of millennials to involve in such activities, thereby expanding the scope for online channel sales. A segmented view of Fishing Tackle Market based on key players, regions, development plans, historical data, opportunities, marketing strategy and an application will help the market aspirants in planning their business. (American Sportfishing Association) #10. Two-thirds of the tackle that is purchased for fishing in the U.S. is for freshwater species. Industry News. Nationally, anglers generate more than $48 billion in retail sales with a $115 billion impact on the economy, creating employment for more than 800,000 people. Thus, the region witnesses a high demand for fish hunting equipment, which is expected to rise substantially in the forecast period. Dammrich Takes the Helm of Center for Sportfishing Policy B.O.D. In total, tackle brings in about $6 billion in retail sales each year. Banks, consultants, sales & marketing teams, accountants and students all find value in IBISWorld. Industry News. Furthermore, substantial contribution by women to the fishing industry is increasing the growth opportunity for this fish hunting equipment. Please fill out the form below for a free PDF report sample & The global fishing rods market size was valued at USD 909.4 million in 2018. Industry News. is literally inundated, every single day, with hundreds, maybe thousands, of sponsorship requests. The average retailer who only specializes in bait and tackle generates about $426,000 in revenues each year. Revenue in USD Million & CAGR from 2020 to 2027, North America, Europe, Asia Pacific, Central & South America, Middle East & Africa, Revenue forecast, company share, competitive landscape, growth factors and trends, U.S., Germany, U.K., Japan, Australia, Brazil, 15% free customization scope (equivalent to 5 analyst working days), If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization. (American Sportfishing Association), #15. (IBIS World), #7. Regional Insights. 56% of regular anglers in the U.S. have an annual household income of $50,000 or more. These trends are likely to emphasize sports like fish hunting, which is expected to ramp up the sales of fish hunting equipment. The fishing lure industry makes it possible for almost everyone to enjoy a day of fishing if they wish. (Statista), #20. Growing popularity of fish hunting in the outdoor recreational industry is resulting in a large number of anglers, thereby ramping up the sales of fish hunting equipment. More than half (56%) of anglers fish from the shore, relying on fishing lures to help them bring in their catch. Bass is the most popular species that is fished, followed by trout, crappie, … Without sustainable practices in these critical areas, there may be fewer chances to go fishing for future generations. (American Sportfishing Association), #9. 36% of people in the United States that they fish between 4-11 times each year. Global Fishing Tackle Market Report 2019 - History, Present and Future This website is secure and your personal details are safe. The modern fishing lure industry reached the market in the late 19th century in the United States, thanks to the efforts of the Enterprise Manufacturing Company and a handful of dedicated fishing pioneers, such as W.D. However, the industry is likely to recover over the forecast timeframe, given the rising popularity of online/e-commerce sales. 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