What Is The Current and Historic Market Size Analysis Of The Fishing Hunting And Trapping Market?
The fishing hunting and trapping market has seen considerable growth due to a variety of factors.
• The market size for fishing, hunting, and trapping has witnessed robust growth in the past few years. The market, which is projected to grow from $1139.58 billion in 2024 to $1218.35 billion in 2025, boasts a compound annual growth rate (CAGR) of 6.9%.
Significant reasons for the substantial growth in the historic period include traditional subsistence, commercial fishing, recreational and sport hunting, conservation and wildlife management, as well as cultural and heritage practices.
What are the Market Size and Expected Growth Rates for the Fishing Hunting And Trapping Market?
The fishing hunting and trapping market is expected to maintain its strong growth trajectory in upcoming years.
• Over the upcoming years, the market size of fishing, hunting, and trapping is projected to witness robust growth. It is forecasted to expand to $1599.89 billion in 2029, growing at a compound annual growth rate (CAGR) of 7.0%.
Several factors contribute to this expected increase in the forecast period, including sustainability and conservation efforts, ecotourism, the incorporation of advanced technology like GPS tracking, mobile applications, and drone-supported hunting and fishing, the effects of climate change, and changing regulations. The forecast period will also see key trends like wildlife photography, catch and release fishing, hunting for conservation, ethical and sustainable hunting, and an emphasis on farm-to-table and local seafood.
Which Key Drivers Are Propelling The Fishing Hunting And Trapping Market's Growth?
The rise in demand for seafood items is anticipated to drive the expansion of the fishing, hunting, and trapping market in the future. Seafood items encompass a diverse range of food derived from marine flora and fauna harvested from fresh and marine water bodies. The practices of fishing, hunting, and trapping are employed to procure seafood which is nutrient-rich, involving the capture of fish, shellfish, and other marine beings using nets, lines, traps, and fishing vessels. As an example, the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), a government department based in Australia, reported in March 2023 that the output of Australia's fisheries and aquaculture has risen by 8% to $3.63 billion in 2022–23, predicting a further growth of 2% in 2023–24. Thus, the mounting demand for seafood items is fueling the enhancement of the fishing, hunting, and trapping market.
What Are The Key Segments Within The Global Fishing Hunting And Trapping Market?
The fishing, hunting and trapping market covered in this report is segmented –
1) By Type: Fishing, Hunting And Trapping
2) By Application: Sportfishing Association, Fishing Organization, Other Applications
Subsegments:
1) By Fishing: Freshwater Fishing, Saltwater Fishing, Fly Fishing, Ice Fishing, Fishing Gear And Equipment (Rods, Reels, Tackle), Bait And Lures
2) By Hunting And Trapping: Big Game Hunting, Small Game Hunting, Waterfowl Hunting, Predator Hunting, Hunting Gear And Equipment (Rifles, Bows, Ammunition, Clothing), Hunting Accessories (Calls, Decoys, Blinds), Pest Control Trapping, Live Animal Trapping, Trapping Gear And Equipment (Traps, Snares, Cages), Trapping Accessories (Baits, Lures)
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How Are New Trends Impacting The Size Of The Fishing Hunting And Trapping Market?
Leading businesses in the fishing, hunting, and trapping market are prioritizing the development of cutting-edge technologies, for instance, artificial intelligence (AI)-powered fish harvesting machines, to gain a competitive advantage. AI-powered fish harvesting machines have a considerable impact on fishing, hunting, and trapping as they are more compassionate and less wasteful than conventional fishing tactics. To illustrate, in July 2022, Shinkei Systems, an American automation company specializing in fish harvesting automation, introduced its AI-powered fish harvesting machine. This machine, which employs a Japanese technique of instantly and humanely killing fish by inserting a spike into their brains, features a receptacle for incoming fish, an operation zone, and an output for transfer to an ice bath. It also uses a computer vision system to recognize the fish species and its shape.
Who Are the Key Players In The Fishing Hunting And Trapping Market?
Major companies operating in the fishing
• hunting and trapping market include:
• Nippon Suisan Kaisha Ltd.
• Maruha Nichiro Corporation
• Leroy Seafood Group ASA
• Angler's Legacy
• American Sportfishing Association
• Keep America Fishing Organization
• National Association of Sporting Goods Wholesalers
• National Rifle Association (NRA)
• Orvis
• Simms Fishing Products
• The Orvis Company
• Duck Commander
• Costa Del Mar
• Berkley Fishing
• Mossy Oak
• G. Loomis
• Yeti Holdings
• Abel Reels
• Sage Fly Fishing
• Penn Fishing
• St. Croix Rods
• Abu Garcia
• Pure Fishing
• Zebco
• Ranger Boats
• Winchester Repeating Arms
• Mossberg
• Browning Arms Company
• Federal Premium Ammunition
• Benelli Q.J.
• Kimber Manufacturing
• Fabbrica d'Armi Pietro Beretta
• Savage Arms
• Remington Arms
• PSE Archery
• Bowtech Archery.
What Are The Regional Insights Into The Fishing Hunting And Trapping Market?
Asia-Pacific was the largest region in the fishing, hunting and trapping market in 2023. The regions covered in the fighter aircrafts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
