Fishing Tackle Box Market

Fishing Tackle Box Market Outlook (2022-2032)

The emergence of fishing as a sport is anticipated to set demand in the market. Hooks, bait, rods, and fishing lines are essentials required in fishing sports. Fishing is prevalent in coastal areas as sports determine its commercial application. The propelling passion of people for traveling and vacation is on the rise which is anticipated to bring bright statistics in fishing tackle box sales in the upcoming period. The accelerated popularity of fishing is set to foster demand for this equipment in the forecast period.

As per the statistics, about 50 million people fishing in rivers and oceans in 2019. This amount is anticipated to grow in upcoming years. Additionally, the increasing number of youth participants and anglers is contributing to rising in this market.

In light of modern digital media propagating information about sports fishing is set to excel in market share in the forecast year. Social media networking is contributing to increasing the promotion of this sport and is likely to help manufacturers in the marketing of their types of equipment.

The global fishing tackle box is valued at USD 24,799.38 Million in 2022. Moreover, this market is anticipated to cross a valuation of USD 37,421.23 Million by 2032. The industry is expected to grow with a CAGR of 4.2% in the forecast period.

Report Attributes	Details
Market size (2022 A)	USD 24,799.38 Million
Base Year for Estimation	2022
Forecast duration for this research	2022-2032
Forecasted Market value (2032 F)	USD 37,421.23 Million
Global Market Growth rate (2022-2032 E)	CAGR of 4.2%
Key Companies Profiled	Custom LeatherCraft Manufacturing LLC SpiderWire Plano Wakeman Ready 2 Fish Okeechobee

What are the drivers of the fishing tackle box market?

Well-configured fishing tackle box sound exciting when one is thinking of going fishing. Boobers, hooks, and extra line sinkers are must-haves for fishing enthusiasts. There are various techniques for catching fish, which include hand gathering, spearing, angling, and trapping. Angling is the most popular method and requires numerous tools that can be carried easily in fishing tackle boxes. These are generally made of hard plastics, metals, and nylon.

Plastic tackle boxes are the most widely used as they are lightweight and durable. The main advantage of fishing tackle boxes is that they are water-resistant, easy to clean, and suitable for high-temperature pressure washing.

The dynamics of fishing sports are turning in favor of freshwater fishing in comparison with other forms. The youth participants seem to be most attracted to freshwater fishing. Additionally, fly fishing is anticipated to gain growth in the forecast period. Fishing is a popular activity in the US.

What are the factors deterring the market?

Compared to past years there is a significant rise in sustainability awareness among users. Environmental pollution is an uprising concern with the lost tackleboxes. Metal rods and plastic baits count for a major share of these pollutants. Scientists have made it to attend to the pollution happening due to lost tackle boxes. The regulations and policies are anticipated to reign the usage in upcoming years which may deter sales of new tackle boxes.

Regional Outlook

With the rising no of hobbyists in the American region, there is an expected increase in this field in the forecast period. The size of the fishing business in the USA accounts for 67,300 in 2022. Moreover, around 52.4 million recreational fishing participants belong to this region. These stats project the growth potential of fishing tackles in the upcoming decade.

China has emerged as the largest fishing country amounting to the world’s 30% share in terms of production. In China, about 25% of the people are engaged in fishing and the annual fish production is about 76.15 billion kg, which creates a lucrative market for fishing tackle boxes in the region.

Indonesia has also committed to increasing fish production in the past few years, and approximately 5.8 million tons of fish are produced annually. These trends contribute to the demand and expand the overall growth of the market in the forecast period.

Segment wise Insights

Hard tackle boxes are robust. A vast majority are made of hardened plastic as they tend to be lighter and are not susceptible to damage due to excessive exposure to water.

Soft fishing tackle boxes are generally backpacks made of nylon. The advantages of a soft bag are its low weight and its capacity to carry several tools. Soft fishing tackle boxes are usually lightweight as compared to hard ones.

Small fishing tackle boxes comfortably fit into a backpack and enable the storage of tools and accessories that are required for fishing.

More than 87% of total sales for fishing equipment in 2019 came from offline distribution channels. Due to the wide selection of fishing tackle available in these outlets, specialty shops dominated the offline channel category. Anglers are increasingly favoring offline shopping since it allows for first-hand familiarity with the gear used for fish hunting. The preference for in-store purchases has also increased thanks to assistance from store owners and in-store salespeople who convey information about the application of this equipment.

The online distribution channel is anticipated to grow at a CAGR of 4.9%. The rise of the online channel for fishing equipment is being fueled by the explosion in online shopping as a result of increasing awareness and convenience. Many millennials are being compelled to participate in such activities due to the growing popularity of fly fishing in the outdoor sector, which is expanding the potential for online channel sales.

Competitive Landscape

To accommodate consumer demand for fish hunting equipment, businesses are putting their attention on growing their product lines and implementing cutting-edge technologies. For instance, Fishbrain, a social network for fishermen, introduced an in-app fishing tackle shop in October 2019 that enables members to browse and purchase fishing gear from different companies.

FISHING TACKLE BOX MARKET SEGMENTATION

• By Forms :

  • Hard
  • Soft

• By Size :

  • Small
  • Medium

• By Region :

  • North America
  • Latin America
  • Europe
  • Japan
  • Asia Pacific excluding Japan (APEJ)
  • Middle East & Africa (MEA)