Fishing Tackle Box Market Insights
Fishing is emerging as an activity, which is creating the demand for sports fishing equipment, such as fishing tackle boxes, in the global market. Manufacturing of fishing tackle boxes has gained the attention of several manufacturers and has attained a new place in the market at a worldwide level. Several coastal areas support fishing as a sport, which is expected to boost the demand for fishing equipment, especially fishing tackle boxes. Moreover, several organizations are working toward the conservation of fish and wildlife by organizing awareness events, which is also expected to boost the fishing tackle box market.
FISHING TACKLE BOX DYNAMICS
Fishing tackle boxes are used to store bits and pieces required for a day of fishing. A well-stocked fishing tackle box is a must when one wants to go fishing. Every fishing tackle box must contain an extra line, sinkers, plastic worms, bobbers, hooks, a small first-aid kit, lures, needle nose pliers, sunscreen, and a line cutter (nail clipper or knife), among others.
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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. Fishing tackle boxes are generally made of hard plastics, metals, and nylon. The plastic fishing tackle boxes are the most widely used fishing tackle boxes 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.
Since the last few years, freshwater fishing has been the most popular form of fishing as compared to other forms, especially among the youth. It has attracted about 38.1 million participants. Saltwater fishing is the second most popular activity, which engages 4.1% of the U.S. population, followed by fly fishing that is the least preferred of the lot. Fishing as an activity has continued to grow since 2016 and has attracted more participants compared to the previous year.
FISHING TACKLE BOX REGIONAL OVERVIEW
Every year, about 44 million Americans enjoy fishing in the U.S. and about one million spend an average of 17 days fishing. In 2016, approximately 2.5 million Americans tried fishing for the first time. The report indicates an 8% increase in angling participation from 2011 to 2016. Thus, the demand for fishing tackle boxes is expected to grow, thereby aiding in the expansion of the fishing tackle box market.
China has the worldâ€™s largest fishing industry and accounts for 30% of worldâ€™s fish production and 60% of the worldâ€™s aquaculture 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.
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Indonesia has also committed to increase fish production since the past few years, and an approximate of 5.8 million tons of fish is produced annually. These trends contribute to the demand and expand the overall growth of the fishing tackle box market in the forecast period of 2018-2028.
FISHING TACKLE BOX KEY PLAYERS
Some of the prominent players in the global fishing tackle box market are:
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