Angling and Hunting Equipment Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

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The global market value of the angling and hunting equipment market was valued at USD 601.1. million in 2022, and a CAGR of 7.1% is expected during the forecast period. Due to rising disposable income and increasing demand for recreational activities, this is driving growth in the market. The increasing popularity of angling and hunting as leisure activities and as a sport is the key factor behind the significant growth in the market.

Regulatory policies aiming to protect wild life are driving growth in the market. Incorporation of smart technologies and e-commerce strategies presents future avenues for market players to enhance the consumer experience and increase sales.


Growth Drivers

Increasing disposable income and increasing demand for wild life adventures and recreational sports are driving growth in this market significantly. More people are engaging in outdoor activities, boosting demand for angling and hunting outdoor activities. Innovations such as advanced fishing electronics and a strong culture for hunting and fishing activities all over the world are driving significant growth in the market. An increasing number of sports enthusiasts all over the world is driving the demand for angling and hunting in the market significantly. Demand from local fish markets and fish processing companies is driving growth in the market significantly.

Increasing government focus on improving local tourism is the main reason behind the tremendous growth in this sector. Increasing demand for fishing and hunting activities in almost all parts of the world is driving growth in the market significantly. Growing trend of vacation in summers and winters is the growing factor in the market significantly.

Segmentation

Distribution Channel

·         Offline

·         Online

Products

·         Accessories

·         Archeries

·         ATV Accessories

·         Clothing

·         Cameras and Accessories

·         Decoy

·         Fishing Rods and Reels

·         Game Calls

·         Knives and Tools

·         Gun, Accessories Maintenance and Storage

·         Hearing Protection

·         Packs and Bag Packs

·         Trees and Sands

·         Lures and Terminal Trackers

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Angling and Hunting Market Distribution Channel Segmentation

On the basis of the distribution channel, the angling and hunting markets are segmented into online and offline. Offline is the leading segment, and the online segment is expected to dominate the market during the forecast period. Offline distribution networks include specialty retail stores, which are dedicated stores that cater specifically to angling and hunting equipment. Sporting goods stores also belong to this category, which are larger chains or stores carrying a variety of sporting equipment. Apart from this, outdoor retailers, hunting and fishing outfitters, and trade shows and expos belong to this market.


Increasing growth in online shopping across the globe is promoting e-commerce websites and manufacturer websites, along with online market places where platforms like Amazon, eBay, and others where various retailers do sell their products. Increasing demand for social media platforms is also a key factor that drives significant growth in the market. Direct sales of products on Instagram and Facebook are making the market even more popular. Some of the sporting websites are also very popular, where the sales of the products are going on.

Angling and Hunting Market by Product Segmentation

On the basis of the products, the Angling and Hunting Market is segmented by Accessories, Archeries, ATV Accessories, Clothing, Cameras and Accessories, Decoy, Fishing Rods and Reels, Game Calls, Knives and Tools, Guns, Accessories Maintenance and Storage, Hearing Protection, Packs and Bags, Trees and Sands, Lures, and Terminal Trackers. Fishing equipment is the leading segment in the market and is expected to dominate it during the forecast period. Fishing equipment like rods, reels, lines, lures, and tackle boxes is generally in demand. Fishing equipment has a broad consumer base and consistent demand across different regions, making it a significant segment in many markets. Hunting equipment is also in demand, as fishing and hunting, along with other recreational activities, are significantly in demand. Increasing growth in sports and recreational activities like fishing, hunting, trekking, and shooting are the most popular leisure activities that are in demand in developing nations. The increasing popularity of recreational sports is driving growth in the market.

Regional Outlook

On the basis of the regions, the angling and hunting equipment market is segmented into 5 parts: Asia Pacific, North America, Latin America, the Middle East and Africa, and Europe. North America is the leading segment due to rising disposable income, an increasing number of sports enthusiasts, and an increasing trend of recreational sports in the United States of America and Canada. Governments in these countries are promoting these sports on a broad level. Innovations in this industry, such as the invention of advanced fishing electronics equipment, are driving growth in the market. Demand from the local fish markets and fish processing companies is driving the growth in the market significantly.

Europe is just next to North America in this aspect. The presence of many key players in European regions is promoting recreational sports and activities in countries like the United Kingdom, France, Spain, Italy, Russia, and Belgium. Increasing disposable income in the region and an increasing craze among sports personnel about hunting, fishing, hiking, and trekking are the main reasons behind the significant growth in the market. Asia Pacific is the leading segment in the market after North America and Europe. Increasing disposable income and rising industrialization, along with urbanization, are driving growth in the market significantly.

Countries like Japan, China, India, and South Korea are witnessing significant growth due to increasing demand for sports and recreational activities. The Middle East, Africa, and Latin America are also witnessing moderate growth in the market due to the increasing popularity of recreational sports and activities in Brazil and Argentina. African countries like South Africa and Egypt have a growing market for angling and hunting. The presence of some key players in the Latin American region is also significantly promoting the growth of the market.


Key Players

·         Browning Arms Company

·         KUIU, LLC.

·         MAVER UK. LTD.

·         Hillman Gear LLC.

·         HARKILA

·         Duluth Holdings Inc.

·         Costa Del Mar In.

·         FORLOH, INC.

·         Armtek Optoelectronics Inc.

·         EBSCO Industries Inc.

·         ADLER ARMS Corporation

·         Other Players

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