India Fishing Equipment Market Research Report, 2028

India Fishing Equipment Market Research Report, 2028

Actual Market Research 31-03-2023 60 Pages Figures : 5 Tables : 18 Region : Asia-Pacific Country : United Arab Emirates Category : Consumer Goods & Services Leisure

India's fishing equipment market has been experiencing significant growth in recent years, owing to the country's vast coastline and the increasing demand for seafood. The market is expected to continue to expand in the coming years due to the growth of the fishing industry and the increasing popularity of recreational fishing. The fishing equipment market in India is driven by factors such as the growing popularity of recreational fishing, increasing disposable income of the middle class, and government initiatives to promote the fishing industry. India has a rich cultural heritage of fishing and is home to a diverse range of freshwater and marine fish species. Fishing is not just a source of livelihood for many people in India but also a popular leisure activity among recreational anglers. Fishing has been an integral part of Indian culture and tradition for centuries. Many communities in India, especially those living along the coast, rely on fishing for their livelihood. Fishing is also a popular recreational activity in India, with many people taking part in it as a hobby. Traditional fishing methods such as netting, angling, and trapping are still used in many parts of India, especially in rural areas. However, modern fishing equipment and techniques are becoming increasingly popular as well. The Indian government has been taking initiatives to promote the fishing industry and increase fish production through schemes such as the Blue Revolution and the Pradhan Mantri Matsya Sampada Yojana. These initiatives have led to increased demand for fishing equipment in the country. According to the research report, "India Fishing Equipment Market Research Report, 2028" published by Actual Market Research, the India Fishing Equipment market is expected to add USD 38 Million by 2028. There is a growing awareness in India about sustainable fishing practices and the need to conserve aquatic resources. This has led to a demand for eco-friendly and sustainable fishing equipment, which presents an opportunity for manufacturers to cater to this segment. The tourism industry in India is growing rapidly, with a focus on promoting adventure tourism. This presents an opportunity for fishing equipment manufacturers to cater to the needs of tourists who engage in recreational fishing. E-commerce is rapidly growing in India, with an increasing number of people preferring to shop online. This presents an opportunity for fishing equipment manufacturers to expand their reach and sell their products online. The Indian government has been taking initiatives to promote the fishing industry and increase fish production in the country. This presents an opportunity for fishing equipment manufacturers to partner with the government and leverage these initiatives to grow their business. In recent years, there has been a lot of innovation in fishing equipment in India, with many domestic and international companies launching new products to cater to the growing demand for high-quality fishing gear. Some of the notable innovations in fishing equipment in India include; Advance fishing stores, Electri-onice fishing reels, Fishing Lures, Fishing Accessories. However, the fishing equipment market in India also faces some challenges, including the high cost of equipment, lack of awareness about the benefits of using advanced fishing equipment, and the presence of low-quality and counterfeit products in the market. To address these issues, manufacturers are focusing on developing innovative and affordable products and implementing strict quality control measures to ensure the safety and durability of their products. The fishing equipment market in India includes a wide range of products such as rods, reels, lines, lures, nets, hooks, and other accessories. The demand for fishing equipment is mainly driven by the commercial fishing industry, which requires high-quality and durable equipment to catch fish in large quantities. However, the recreational fishing segment is also growing rapidly, particularly among the urban middle class, who are increasingly adopting fishing as a leisure activity. Some of the major players in the Indian fishing equipment market include Okuma Fishing Tackle, Shimano Inc., Daiwa Corporation, Rapala VMC Corporation, Pure Fishing Inc., and Zebco Brands. These companies offer a variety of products at different price points to cater to the needs of different customer segments. There are several events and shows related to fishing equipment that take place in India. Some of the prominent ones are; India International Seafood Show, Fishing and Outdoor recreational trade show, Aquaex India, India International Fishing Tackle & Accessories Exhibition, Sportex India. There are several fishing tournaments that take place in India every year. Some of the popular ones are; Indian Angler's Forum Annual Fishing Championship, Mangalore Fishing Tournament, Cauvery Fishing Camp, Tirthan Valley Trout Fishing Festival. Fishing reels are one of the most important equipment in fishing, including in India. They play a crucial role in controlling and managing the fishing line, and also help in casting the bait or lure accurately. In India, where fishing is a popular recreational activity and also a source of livelihood for many, high-quality fishing reels are essential to ensure a successful and productive fishing experience. There are various types of reels available in the Indian fishing equipment market, some of which are, Spinning reels, Baitcasting reels, Spin cast reels, Trolling reels, Centerpin reels, Fly reels, Surfcasting reels, Boat reels. Each type of reel has its own unique characteristics and is used for specific types of fishing techniques and conditions. Some of the popular reel manufacturers in the India fishing equipment market are; Abu Garcia, Shimano, Penn, Daiwa, Okuma, Quantum, Mitchell, Pflueger, Hardy, Greys. India has a diverse range of water bodies including rivers, lakes, ponds, and coastal areas. Each water body has its own unique fish species and requires different types of fishing equipment. And freshwater fishing is popular in India, and thus, freshwater fishing equipment such as rods, reels, lines, hooks, and baits are in high demand. The coastal areas of India are also popular for saltwater fishing, which requires specialized saltwater fishing equipment like heavy-duty rods, reels, lines, and lures. However, since freshwater fishing is more widespread across India, freshwater fishing equipment is generally more useful and in demand in the Indian fishing equipment market. The Indian government has set up regulations for fishing in order to ensure sustainable fishing practices and conservation of fish species. These regulations include; The Indian Fisheries Act, 1897- This act lays down rules for the protection and conservation of fish species and their habitats. The Wildlife Protection Act, 1972- This act provides for the protection of wildlife, including fish, and their habitats. The Coastal Regulation Zone Notification, 2011- This notification regulates development activities in the coastal zone and aims to conserve and protect the coastal environment, including fish habitats. The National Fisheries Policy, 2020- This policy aims to increase fish production and productivity, promote sustainable aquaculture practices, and ensure the welfare of fisher communities. The Inland Fisheries (Amendment) Act, 2021- This amendment to the Inland Fisheries Act, 2021 provides for the protection and conservation of fish species and their habitats in inland waters. The government regulations aim to promote sustainable fishing practices, conservation of fish species and their habitats, and the welfare of fisher communities in India. Considered in this report • Geography: India • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • India Fishing Equipment market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type • Hooks • lines • Sinkers & floats • Rods • Reels • Nets & Traps • Spears& Gaffs • Baits & Lures. • Others By Nature • Fresh water • Salt water • Fly Fishing By Distribution Channel • Online • offline The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, government-generated reports, and databases. After gathering the data from secondary sources, primary research was conducted by making telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started doing primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations and organizations related to the Fishing Equipment industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

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