The global fish hook market size will be $726.9 million in 2024 with a CAGR of 5% from 2024 to 2029.
Definition
A fish hook is a tool used to hang bait to attract fish to hook during fishing. The fish hook is composed of six parts: handle, hook handle, hook bend, hook tip, hook door, and hook bottom. Each part has its own specific function and is an indispensable tool for fishing. This research report divides the products into Large Size and Small Size. According to different sales channels, it is divided into Specialty and Sports Shops, Department and Discount Stores, and Online Retail.
Market by Type
According to the size of the hook, the products are divided into Large Size and Small Size. Large Size mainly refers to the hook size from 1/0 to 19/0, the larger the number, the larger the hook. Small Size mainly refers to the size of the hook from 32 to 1. The larger the number, the smaller the hook.
Market by Application
Based on application, the fishing hook market is segmented into specialty and sports shops, department and discount stores, and online retail.
A specialty store is a shop/store that carries a deep assortment of brands, styles, or models within a relatively narrow category of goods.
Discount store, in merchandising, a retail store that sells products at prices lower than those asked by traditional retail outlets. Some discount stores are similar to department stores in that they offer a wide assortment of goods; indeed, some are called discount department stores.
Online Retail is an e-commerce where consumers use a web browser to purchase goods or services directly from sellers via the Internet.
Regional Analysis and Insights
China dominates the fishing hook market, followed by North America and Europe. There has been a huge growth in the interest of the general public towards recreational fishing and people are actively participating in fishing as a part of their leisure activities.
Market Trends
Fishing is one of the most attractive outdoor sports. It has matured in European and American countries, but is underestimated in developing countries such as China. With the increase in global per capita disposable income and time, and the release of relevant policy dividends, the fishing industry has broad room for development. Therefore, it will continue to promote the development of the Fishing Hooks industry.
From the perspective of participants in fishing activities, the young group has grown significantly. For example, according to the incomplete statistics of the China Fishing Association, there are currently approximately 140 million fishermen in China (participating in at least 4 fishing activities per year). At the same time, fishing is no longer the patent of the middle-aged group, and is gradually developing in the direction of youth, fashion, entertainment, and creativity. Among them, fishing enthusiasts under the age of 18 accounted for 12% of the total, 18 to 24 years old accounted for 10%, and young and middle-aged people aged 25 to 44 have become the main force in fishing, accounting for 46%, accounting for nearly half. However, only 32% of the group of “Grandpa Mission” over 45 years old.
Market Drivers
‘Large number of participants in the fishing crowd’
In the context of the increasing number of anglers around the world, the fishing hook industry continues to witness lucrative opportunities in various countries. Take the United States as an example. Nowadays, fishing is always at the forefront of many outdoor sports in the United States. The United States has the reputation of “the country of boat fishing”, and fishing is very popular in the country. According to statistics from the American Recreational Fishing Association (ASA), more than 49 million Americans participated in fishing activities in 2017, surpassing golf and tennis enthusiasts combined. From 2016 to 2017, the number of fishing participants continued to grow, increasing by 0.4%, or 1.9 million people, reaching the highest participation rate since 2009. The overall participation rate of the population aged 6 and over in the United States reached 16.5%, which means that 49.1 million people have fished at least once in a year. The increase in the number of participants in fishing activities directly promotes the demand for fish hook products.
‘The growth of disposable income and leisure time’
Policy dividend stimulus, the growth of disposable income and leisure time have become one of the main driving forces for the development of the fishing industry. At present, fishing has occupied an important position in the sports industry sector and has brought good economic benefits to the society. Therefore, various countries have issued a series of policies for the fishing industry to promote the development of recreational fisheries. For example, during China’s “13th Five-Year Plan” period, recreational fisheries will be an important direction for advancing the structural reform of the fishery supply side. As the government lists recreational fisheries as a strategic emerging industry, policy dividends will gradually be released. With the continuous rapid economic development, China has become the world’s largest emerging leisure consumer market, and the trend of consumption upgrading is obvious. At the same time, the average annual statutory rest days of Chinese employees have reached 125 days (11 statutory holidays, 104 days of weekly holidays, and an average of 10 days of paid annual leave for employees). The free time of leisure for the nationals has exceeded one-third of the whole year. one. More disposable income and time will promote the development of the fishing industry. This will also promote the development of the fishing hook industry to a certain extent.
Top Companies
The fishing hook market is highly competitive, with major players including Gamakatsu, Shimano, Globeride, Pure Fishing, Inc., Eagle Claw, VMC PECHE, HAYABUSA CO., LTD., Mustad, Okuma, BKK and 13 Fishing.
Market Scope
Coverage | Detail |
Market Size in 2024 | 726.9 million USD |
Market Size in 2029 | 927.7 million USD |
CAGR from 2024-2029 | 5% |
Regional Analysis |
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Country-Level Analysis | US, Canada, Germany, France, China, India, etc. |
Competitive Landscape |
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Market Segment by Type | Small Size Large Size |
Market Segment by Application | Specialty and Sports Shops Department and Discount Stores Online Retail Others |
