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Fishing Equipment Market Rises as Fish Occupations Spur for Sustenance, Recreation Reasons

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Published on : Apr 07, 2016

From the fishing equipment used in primitive times to the ones used in modern times, fishing equipment has advanced leaps and bound. Today, there is a large range of fishing gear that can be used for catching fish on the seabed, in mid-water, and just off the base for all vessel sizes that work singly or in pairs. 

Across the world, fish consumption has been rising due to a multitude of reasons. First and foremost, fish is the staple food for a large population, especially those living in coastal areas. An increasing trend for the consumption of meats, seafood, and other non-vegetarian foods is fuelling fish trade. Moreover, in the emerging economies of Asia Pacific such as India, due to the recently gained economic prosperity and surging income levels, it has stimulated spending habits of consumers for delicatessen foods. In addition to this, in India, due to relaxation of import duties a large variety of foods such as prepared meats, cheese, fish foods are distributed through retail channels.

The fishing equipment market will display a positive growth curve in the years to come, say analysts. With a surge in fish consumption, anglers are spending large sums for the purchase of high-quality equipment for a better catch. Additionally, a part of the tax levied on the purchase of motorboat fuel is contributed towards fish conservation and fish leisure activities that need fishing equipment as well. Along with this, over the past few years, fish occupations have received a boost due to the medicinal value of fish, which in turn, has benefitted the fishing equipment market as well.

Amongst all, it is the unorganized fishing sector that holds tremendous potential for the fishing equipment market. This sector includes catering to fishermen that are oblivious about mechanized fishing equipment and still depend on local substandard equipment that are generally handed down from generations. In the current times, with fishing becoming a popular recreational activity, it will bolster growth of the fishing equipment market.

Some top companies around the world that operate in the global fishing equipment market are AFTCO Mfg. Co. Inc., Berkeley, Daiwa Corporation, Fenwick, Gamakatsu Co. Ltd., and Pure Fishing among others.