Asia-Pacific Fishing Equipments Market Outlook, 2028

Fishing has been an integral part of the culture and lifestyle in the Asia-Pacific region for centuries. The indigenous people of the region, such as the Maori of New Zealand and the Aborigines of Australia, have a deep spiritual and cultural connection to the sea and fishing. The culture of fishing in the Asia-Pacific region is complex and multifaceted, with deep roots in tradition and a growing emphasis on sustainability and responsible resource management. The Asia-Pacific region is home to a wide variety of fishing practices, ranging from traditional small-scale fishing to large-scale commercial operations. These practices are influenced by factors such as geography, climate, and cultural traditions. With the growing awareness of the impact of overfishing on marine ecosystems, there has been a renewed focus on sustainable fishing practices in the region. Governments and communities are taking steps to regulate fishing activities and promote sustainable practices. Fishing is a major economic activity in many countries in the Asia-Pacific region. It provides employment for millions of people and contributes significantly to the GDP of many nations. Fish and seafood are an important part of the cuisine in many countries in the Asia-Pacific region. They are used in a variety of dishes and cooking styles, reflecting the diverse culinary traditions of the region. Despite the long history of fishing in the Asia-Pacific region, there is still room for innovation and development of new fishing equipment. In recent years, there has been a growing interest in sustainable fishing practices and the development of new gear that can help reduce bycatch and other environmental impacts. According to the research report, “Asia-Pacific Fishing Equipments Market Outlook, 2028” published by Bonafide Research, the market is anticipated to grow with more than 4% for 2023-28. The growing population, rising disposable income, and improving living standards in the Asia Pacific region are driving the demand for recreational activities like fishing. This is boosting the demand for fishing equipment such as fishing reels. Additionally, the increasing awareness regarding the benefits of fishing as a stress-relieving activity is also boosting the market growth in the region. Fishing is an important source of income for millions of people in the Asia-Pacific region. Fishing equipment, including boats, nets, and gear, are essential tools for fishermen to catch and process fish for sale. Fish and seafood are a staple food in many countries in the Asia-Pacific region, and fishing equipment is essential for ensuring a steady supply of these foods. Small-scale fishing operations often rely on traditional equipment, such as handlines and traps, to catch fish for local consumption. Fishing equipment can play a critical role in promoting sustainable fishing practices and conservation efforts. Modern equipment, such as fish finders and GPS, can help fishermen to reduce bycatch and avoid overfishing in sensitive areas. The Asia-Pacific region is home to many innovative manufacturers of fishing equipment, who are constantly developing new gear and technologies to improve the efficiency and sustainability of fishing operations.

China is expected to dominate the Asia-Pacific fishing equipment market because of increasing seafood trading and the presence of a large consumer base. As a result of the fastest-growing economies, China shows robust growth, followed by the Indian market, which is slightly increasing. Huge potential exists for offering sophisticated equipment to anglers in the region as majority of them continue to use traditional products that are indigenously made, mostly by a domestic manufacturer. Other growth drivers include underpenetrated nature of the market; increasingly westernized lifestyles, growing stress levels, surging interest in fishing, and expanding population. Japan and South Korea are two more countries where the demand is increasing due to the growing adoption and awareness regarding aquaculture among consumers. Furthermore, increased government support and improved transport infrastructure have increased the importance of international trade in past years. For instance, in India, the Marine Products Export Development Authority (MPEDA) has launched an initiative to develop a global positioning system (GPS)-based database of export-oriented aquaculture farms to ensure their traceability and quality control. The Chinese government has been actively promoting the development of the fishing industry, with a particular focus on modernizing fishing techniques and equipment. This has led to increased investment in fishing equipment manufacturing and research and development. In recent years, there have been various technological advancements in the fishing equipment market. Technological advancements in marine electronics have resulted in significant changes in the fishing industry. The ease of use in new GPS setups allows consumers without knowledge to travel in marine situations for a higher catch probability. Advances in sidescanning sonar enable more accurate tracking of baitfish and aquatic species. Multifrequency, multibeam transducers, and compressed high-intensity radar pulse devices are popular technologies in the field that provide greater detail in tracking schools of fish. Moreover, the introduction of new fishing equipment with upgraded technology by prominent industry players has increased public interest in fishing. These fish equipment manufacturers have addressed challenges encountered while fishing and developed essential solutions. Remote-controlled bait boats are becoming increasingly popular in the Asia-Pacific region. These boats allow anglers to deposit bait in precise locations without disturbing the water, increasing their chances of catching fish. Some models can also be used to locate fish using sonar. Carbon fiber fishing rods are becoming more popular in the Asia-Pacific region due to their strength and light weight. These rods are ideal for catching larger fish, such as tuna and marlin, and are also more comfortable to use for extended periods. In Asia-Pacific, a budget-conscious traveller loves the region for its popular fishing sites, such as Toiman (South China Sea), Redand (South China Sea), Langwaki (Andaman Sea), Bali (Indonesia Sea), and Phuket (Andaman Sea). There is a variety of fishing equipment rental options available in the Asia-Pacific region. Some popular destinations for fishing in the region include Australia, New Zealand, Japan, and Thailand. Many fishing charter companies in Australia offer equipment rental along with their fishing trips. Some companies that offer equipment rental include Fishing Sydney, Fishing Charters Perth, and Bluey's Boathouse in Melbourne. Fishing is a popular pastime in Japan, and there are many rental options available. Some companies that offer fishing equipment rental include Fishing Vision, which has locations throughout the country, and Fishtrip, which specializes in rental gear for fly fishing. Recreational fishing has not gained much popularity across the region but tremendous growth in the interest of the common mass has been observed in recent years. People have been actively participating in fishing as a part of recreational activity in countries including Japan, Australia, and New Zealand. These factors are contributing to making APAC the fastest-growing market for the sales of fishing equipments. There is higher need for fish as a protein source. As a result, there is rising demand for fishing rods, reels, and lures throughout the Asia Pacific market. In addition, availability of a wide range of fishing equipment at affordable prices, combined with the growth of e-commerce platforms, has further created high demand for fishing equipment in the Asia Pacific area. The market has grown in part as a result of presence of sizable manufacturers who offer high-quality fishing equipment at reasonable prices in this region. Among the nature type, fresh water segment is dominating the market in 2022. Freshwater fishing is an important source of income for many people in the Asia-Pacific region, particularly in rural areas. Small-scale freshwater fishing operations often rely on traditional equipment, such as hand lines and nets, to catch fish for local consumption and sale. The freshwater systems of the Asia-Pacific region are among the most biodiverse in the world, with many species of fish found nowhere else. Freshwater fishing plays a critical role in maintaining the ecological balance of these systems and protecting the unique biodiversity of the region. Freshwater fishing is also a popular recreational activity in many parts of the Asia-Pacific region, particularly in areas with abundant natural resources and scenic locations. However, there are many locations throughout the Asia-Pacific region that are popular for fly fishing, including rivers, lakes, and streams in countries such as Japan, New Zealand, Australia, and Indonesia. The target species for fly fishing in the Asia-Pacific region vary depending on the location and season, but commonly include trout, salmon, bass, and various species of saltwater gamefish. In many popular fly fishing locations throughout the Asia-Pacific region, there are guide services available that offer instruction, gear rental, and access to prime fishing locations. Based on the report, the market is segmented into online and offline sales channels. Among them, offline sales channel is anticipated to lead the market by the end of the forecast period with more than 80% market share. Many fishing enthusiasts in the Asia-Pacific region prefer to purchase their equipment from specialty stores that offer a wide range of products and personalized service. These stores may specialize in a particular type of fishing equipment or offer a broad selection of gear for different types of fishing. Large retail chains that specialize in outdoor and sporting goods, such as Decathlon and DICK'S Sporting Goods, are increasingly common in the Asia-Pacific region. These stores offer a wide range of fishing equipment at competitive prices, and can be a convenient option for customers who want to purchase multiple items in one location. Some fishing equipment manufacturers in the Asia-Pacific region sell their products directly to customers through catalogs, mail order, or direct sales representatives. This can be a particularly effective sales channel for high-end or specialized fishing equipment. However, with the growth of e-commerce and online marketplaces, many fishing equipment manufacturers and distributors in the Asia-Pacific region now offer their products through online retail channels. Online platforms allow customers to browse and purchase a wide range of fishing equipment from the convenience of their own homes. Some of the online platforms include Amazon, Alibaba, Tackle Warehouse, Fishpond, Fishbrain, FishingSir, Tacklesmart and Fishin' World etc. Companies Mentioned in this Report: Globeride Inc, Pure Fishing, Inc, Sea Master Enterprise Co., Ltd, Jarvis Walker Pty, Inc, Okuma Fishing Tackle Co., Ltd, Shimano Inc, Rapala VMC Corporation, St. Croix Rods, O. Mustad & Son AS, LeWeihai Guangwei Group Co., Ltd, Taylor Fly Fishing, LLC

Considered in this report • Geography: Asia-Pacific • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Asia-Pacific Fishing Equipment market with its value and forecast along with its segments • Country-wise Welding Equipment & Consumables market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report: • China • Japan • India • Australia • South Korea By Product type: • Hooks • Lines • Sinkers & floats • Rods • Reels • Nets & Traps • Spears& Gaffs • Baits & Lures • Others (Fishing Stopper, Swivel Fishing Line, Fishing Snap, etc.) By Nature Type: • Fresh water • Salt water • Fly fishing By Distribution Channel: • Online • Offline The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Fishing Equipment industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.