Fish hunting is the activity of catching fish from various natural resources and the tools and equipment used for this process are known as fish hunting equipment. Fishing is an ancient activity that has undergone many reforms throughout. Earlier, fish hunting also known as fishing was done for fulfilling the appetite and recreational activities, as the trend changed now fishing is also done for commercial needs and this augments the growth of the fish hunting equipment market. Some of the traditional fishing techniques like Spearfishing, Angling, Ice fishing, Trapping, Hand Gathering, Netting, and Kite Fishing are still prevalent in recent times but the equipment used in these techniques are diversified. The fish hunting equipment market is manufacturing fishing rods and reels, fishing line, hooks, fishing lures, floaters, sinkers, swivels, Needle Nose pliers, nets, spears, bite indicators, traps, fish stringer, fly fishing tackle, Tackle boxes and others. The leading countries in the fishing sector are China, Indonesia, India, the U.S., Russia, Peru, Vietnam, Japan, Norway, and Myanmar.
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COVID-19 Scenario Analysis:
Lockdown Scenario
The Industries and market for fish have been badly impacted due to the Coronavirus outbreak. There has been a dramatic fall in the prices of the fish market. As the cause of the outbreak is related to the seafood market, the fish market is also endangered. Therefore, the activities of fishing have gone down and this has affected the sales of the fish equipment market as well.
Production hampered
The outbreak has to lead to the shutdown of many units and has affected the raw material procurement.
Supply chain disruption
The supply chain has been disrupted due to the closedown of the offline stores and late deliveries.
Regulatory Hurdle
The government bodies have imposed restrictions on the mobility of citizens; therefore, the fishing activities have been ceased for the time being and the fish equipment market has lost its sales.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The various markets and industries are involved in fish procurement and fish processing. The fish processing industries usually use fish equipment and hold a huge market share. The fish equipment market has target segment of mainstream as well as the general population since fishing is considered as a recreational activity in a country like the U.S. The involvement in recreational activities, increase of Pisciculture, surge in fish processing industries, and increased disposable income are the factors that are improving the global fish hunting equipment market. However, varying prices, lack of awareness, the intervention of the government policies in the fish hunting, and limited market segments cause hindrance in the growth of the industry. Contrarily, if an investment is made in launching new reliable technology considering the safety norms and providing comfort to the customers within the equipment present new pathways in the industry.
The global fish hunting equipment market trends are as follows:
New equipment to increase the market
The key players are investing in the R&D, and are manufacturing new equipment for making the fishing experience different as a recreational activity. For commercial use, the separate pieces of equipment have been designed considering bulk requirement. Van Staal, a leading player in the market is focused on the high quality of equipment, combining superior engineering with fishing equipment. The company has launched a new series of equipment known as X-series, optimized in casting distance and control. The concept of electrofishing is also widely used in the fishing market and the companies are investing in it as well. The existing equipment is being categorized differently by adding special features to them; poles and its accessories, seat box and its accessories, variants of rods, reels with lightweight designs, and other designs that have been launched in the market. Apart from the equipment, the companies are also designing various types of hats, apparel, and fishing kits to attract the target market.
Increasing the market share
The manufacturers have been investing in the market according to the segmentation being made, the size, shape, and design vary according to the end user. The growing fish processing industries can be the main focus of the fish equipment industries providing sustainable solutions. Providing a comfortable and safe experience with fishing equipment is also a profitable strategy for the market.
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Key Benefits of the Report:
- This study presents the analytical depiction of the global fish hunting equipment industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global fish hunting equipment market share.
- The current market is quantitatively analyzed to highlight the global fish hunting equipment market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global fish hunting equipment market analysis based on competitive intensity and how the competition will take shape in the coming years.
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