How Has The Fishing Market Evolved And What Is Its Future Forecast?
The fishing market size has seen considerable growth recently, increasing from $689.33 billion in 2024 to $736.51 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. Factors contributing to this historic period growth include cultural and traditional practices, economic dependence, global seafood demand, government policies and regulations, tourism, and recreational fishing.
The market is projected to continue this robust growth, estimating to reach $964.73 billion in 2029 at a compound annual growth rate (CAGR) of 7.0%. The forecast period growth can be attributable to factors such as sustainable fishing practices, climate change impacts, eco-certifications and labels, global population growth, increased consumer demand for sustainable seafood. Trends for the future include customization in fishing gear, social media influence, introduction of smart fishing technologies, focus on family-friendly fishing, and global expansion of fishing tourism.
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What Are The Key Drivers Influencing The Fishing Market Growth?
The rise in seafood consumption is acting as a key driver for the fishing market growth. Seafood encompasses a multitude of aquatic creatures consumed by humans, including varieties of fish, shrimp, and even octopuses. The primary method of source these seafood is through fishing, which is the only way to capture cod, perch, salmon, sardines, trout, and many other forms of marine life included in seafood. The availability and market for seafood expand as fishing increases. For instance, Statistics Iceland reported in July 2022 that the total fish catch for June 2022 was nearly 35,000 metric tons, which was a 14,000-tonne increase from June 2021. Hence, increased consumption of seafood is propelling the fishing market’s growth.
How Is The Global Fishing Market Segmented?
1) By Fishing Method Type: Pots And Traps, Line And Pole, Large Nets, Single Line Trolling
2) By Location Type: River, Lake, Sea
3) By Species Type: Clams, Carp, Cod, Tuna, Salmon, Squids, Shrimp, Cephalopod, Groundfish
4) By Distribution Channel: Online, Offline
5) By End-User: Individual Consumers, Clubs, Sports Organizers
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Who Are The Major Players In The Fishing Market?
Major companies operating in the fishing market include Daiwa Corporation, Johnson Outdoors Inc., Maver UK Limited, Rome Specialty Company Inc., Shanghai Kai Chuang Marine International Co. Ltd., Pure Fishing Inc., Maruha Nichiro Corporation, Nissui Corporation, Thai Union Group Public Company Limited, Mowi ASA, Dongwon Enterprise Co. Ltd., Red Chamber Co., Skretting AS, Trident Seafoods Corp., Austevoll Seafood ASA, Sildarvinnslan HF, Aleutian Spray Fisheries Inc., Sahlman Seafoods Inc., Admiralty Island Fisheries Inc., Beaver Street Fisheries Inc., High Liner Foods Inc., Inland Seafood Inc., Sysco Corporation, Salmar Farming AS, Andrew Marr International Ltd., Grieg Seafood ASA, Marubeni America Corp., Charoen Pokphand Foods Group Co. Ltd., Kyokuyo Co. Ltd., Cooke’s fishing division Inc., Bakkafrost P/F, Biofish Holding A/S, Blue Island plc, Brim hf, PT Central Proteina Prima Tbk, PT Cilacap Samudera Fishing Industry Tbk, Clean Seas Seafood Ltd.
What Are The Emerging Trends In The Fishing Market?
Technological advancements are being recognized as a significant trend in the fishing market. For example, in July 2022, Garmin Ltd., a US-based marine electronics manufacturing company, launched the LiveScope XR System. This live-scanning sonar technology provides real-time images of fish and structure up to 350 feet away in salt water while maintaining image clarity and resolution. Its unique features include built-in stabilization systems, vivid color palettes, and multiple mode options, aiding in consolidating the company’s position in the market.
Which Region Saw The Highest Growth In The Fishing Market?
Asia-Pacific was the largest region in the fishing market in 2024 and is anticipated to be the fastest-growing region during the forecast period. Other regions covered in the fishing market report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Fishing Market Report 2025 Offer?
Fishing, defined as the activity or business of catching fish, employs techniques such as fly-fishing, baitcasting, spinning, trolling, and other types involving a person or a boat propelled by paddle, oar, or sail. The Fishing Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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