The COVID-19 pandemic caused a significant economic loss in APAC. The emergence of new COVID-19 waves in India, Thailand, and other Asian economies has prolonged the effect on GDP. The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries of APAC. However, the uncertainty regarding the future outbreak, especially in countries such as India and a few other Asian countries, has altered the status of several industrial sectors. The shutdown of manufacturing units and disruptions in supply chain and logistics have negatively impacted the fishing equipment market. According to the article from the Hindu, angling grew as a sport in India during the days of the pandemic. Angling not only became a therapeutic pastime but also provided a catch for the dinner table in states across India, which had a positive impact on the demand for fishing equipment as well. Along with this, countries such as Australia have noticed a growth in the recreational fishing industry since the first lockdown in 2020, which has led to an increased demand for fishing equipment. The sales of Australia’s largest fishing tackle supplier grew by more than 50% in the first half of 2021 compared to the same period in 2020. Fishing has also been deemed a COVID-friendly activity in New South Wales, Australia.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC fishing equipment market. The APAC fishing equipment market is expected to grow at a good CAGR during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 6,004.69 Million |
| Market Size by 2028 | US$ 8,662.45 Million |
| CAGR (2021 - 2028) | 5.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Fishing Equipment Market is valued at US$ 6,004.69 Million in 2021, it is projected to reach US$ 8,662.45 Million by 2028.
As per our report Asia Pacific Fishing Equipment Market, the market size is valued at US$ 6,004.69 Million in 2021, projecting it to reach US$ 8,662.45 Million by 2028. This translates to a CAGR of approximately 5.4% during the forecast period.
The Asia Pacific Fishing Equipment Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Fishing Equipment Market report:
The Asia Pacific Fishing Equipment Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Fishing Equipment Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Fishing Equipment Market value chain can benefit from the information contained in a comprehensive market report.
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