Recreational fishing, often known as sport fishing, is fishing for fun or competition performed using a rod, reel, line, hooks, and various baits. They provide opportunities for socialization with others while improving physical as well as mental health. There is an increasing demand for recreational fishing across the globe, which is boosting the fishing equipment market growth.
Fishing equipment market growth is majorly driven by the increasing number of participants in the developing economies as well as the developed economies across the globe. For instance, according to the Outdoor Industry Association's 2019 Special Report on Fishing, around 49.4 million individuals went fishing in the US in 2018. The Covid-19 pandemic also led to an increased demand for fishing equipment, with major supermarkets and department stores in the country witnessing a shortage of equipment. The travel restrictions and logistical constraints had led to limited supply during the pandemic.
Moreover, there is growing participation in various fishing activities in several countries. Countries in the Asia Pacific have been witnessing a surge in demand for fishing equipment over the last decade. Increased awareness and growing popularity of fishing as a recreational sport have contributed to the fishing equipment market growth in Asia Pacific Thus, increased spending on fishing equipment and accessories due to the rise in participants is increasing the sales of such products. Thus, the increasing participation in recreational fishing is a major factor driving market growth.
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