Fishing, Hunting And Trapping Market Size, Share, Growth, and Industry Analysis, By Type (Fishing, Hunting, Trapping), By Application (Commercial, Recreational), and Regional Forecast to 2032.

FISHING, HUNTING AND TRAPPING MARKET OVERVIEW

The global fishing, hunting and trapping market size was valued at USD 496.74 million in 2023 and is expected to reach USD 764.5 million by 2032, with a CAGR of 4.1% during the forecast period.

Indeed, the segment has witnessed some fantastic growth on account of sustained consumer interest in outdoor recreation and sustainable food sourcing. A wide array of activities is involved in this segment, which runs the gamut from commercial fishing to recreational hunting and wild trapping for various purposes, such as pest control and fur. Consequently, environmental and conversational policies are at the heart of the dynamics of this industry, along with technological advances and shifting consumer preferences.

Over the past couple of years, there has been the more recent drive for the fishing industry to create sustainability by practicing responsible methods of fishing and aquaculture techniques so that it can meet the increased demand for seafood without depleting the marine ecosystems. The hunting sector in recent times has benefited from increased interest because of its use as a means of management over certain wildlife and as a source of organic free-range meat.

Global Crisis Impacts the Fishing, Hunting, and Trapping MarketCOVID-19 IMPACT

Fishing, Hunting and trapping industries gained a mixed effect due to changed consumer behaviour and supply chain disruption during the COVID-19 pandemic

The COVID-19 pandemic experienced globally was unmatched in level and scale. The market saw less-than-anticipated demand in all geographies than the pre-pandemic levels. The rapid growth rate of CAGR could mark back-to-pre-pandemic-levels-of-growth demand for the market.

The COVID-19 pandemic had a mixed impact on fishing, hunting, and trapping markets. Commercial fishing was plagued by disrupted supply chains of the global market, plummeting demand in the hospitality industry, and workforce mobility restrictions. Because of the situation, the temporary grounding of most fishing fleets and the reduced capacity of processing facilities led to financial hardships within the fishing communities.

On the other hand, some areas realized increased recreational hunting and fishing activities as people began looking for outdoor activities where they could keep their social distance. While this positively bumped up equipment sales and license revenues in those areas, travel restrictions and public land closures in other jurisdictions restrained overall participation.

LATEST TRENDS

The fishing, hunting, and trapping industry is involved in the rapid development of sophisticated technological approaches to achieve efficiency and sustainability. Capture fisheries are increasingly using GPS and sonar technologies in locating fish with better precision. Fishing gear technology is becoming increasingly selective in order to minimize bycatch. Moreover, continuous development of sustainable fishing techniques-including FADs-as well as even improved aquaculture methods, is underway.

Hunting provides increased ethics and conservation. With hunting, there is a development of new optics, trail cameras, and mobile apps that will be common to better manage the game and hunting. Locavore hunting is another developing trend where individuals hunt for sustainable, locally sourced meat. It also covers information on humane trapping methods and their increasing use within wildlife management programs. There has also been a greater interest in the use of trapping for invasive species control and ecological research.

FISHING, HUNTING, AND TRAPPING MARKET SEGMENTATION

BY TYPE

• Fishing: This too involves both professional and sports types of fishing. Commercial fishing is a form of fishing where fish and other water animals are trapped and caught for sale, while recreational fishing is done as a sport or for personal consumption.

• Hunting: It's not correct that hunting activities are primarily intended for recreation; actually, they also intend to serve other ancillary purposes such as management of wildlife and getting meat.

• Trapping: Trapping is the process of catching animals through various devices mainly for fur harvesting and to control the pest and wildlife management. As compared to the industries of fishing and hunting, this industry is smaller in scale; however, in some parts of the world and according respective industries, the trapping segment is considerable in nature.

BY APPLICATION 

•  Commercial: The fishing, hunting, and trapping market covers activities organized for profit. This comprises of fishing activities whereby large-scale commercial fisheries cater to worldwide seafood markets as well as aquaculture firms.
• Recreational: This category includes avocation and sport, leisure, or subsistence. Recreational fishing involves both freshwater and saltwater angling.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities, and challenges that indicate market conditions.

DRIVING FACTORS

"There is growing demand for sustainable and locally sourced food which drives the market"

The increasing demand by consumers for sustainable and locally sourced food is one of the major driver the fishing, hunting and trapping market growth. It also raises environmental and food-quality issues in people's minds, which, in turn, drives demand for wild-caught fish and game meats as perceived natural and environmentally friendly alternatives to factory-produced foods. This would further tend to develop growth on the commercial fishing side, along with the hunting industry for sporting purposes and ancillary industries involved in the processing and distribution of wild-caught products.

"Technology to Advance Efficiency and Sustainability for Market Expansion"

 A majority of the segments witness growth in the market; technological innovations have a very high contribution. For example, within fishing, the use of sonar technologies, increased improvement of GPS systems, and better gears leads to a high-efficiency catch without severe environmental damage. Similarly, optics, trail cameras, and mobile applications highly contribute toward improvisation in the overall hunting experience and also contribute toward wildlife management. New designs for humane traps show huge concern for animal welfare in trapping. Technological advances better the operational efficiency and also attract more participants to these activities.

RESTRAINING FACTOR

"Environmental Concerns and Regulatory Pressures May Dampen Market Growth"

One of the major factors that impede the fishing, hunting, and trapping market share is increasing environmental concern and subsequently regulatory pressure. Overfishing resulted in depleted fish stock at most fisheries; these have translated into strict allocations of quotas as well as other tighter restrictions on fishing. There have similarly been concerns about the decline in the populations of the wildlife, which have, in turn, led to stricter regulations on hunting in most jurisdictions; the trapping industry is still under attack by animal rights activists, and a shift in public sentiment against animal fur. It is such environmental and ethical issues that are promoting the growing stringency of regulation, damping market growth and forcing major adjustments on the part of industry operators.

OPPORTUNITY

"Eco-tourism and experiential outdoor activities will create opportunities for market growth"

There is also an emerging opportunity for eco-tourism and experiential outdoor activities related to fishing, hunting, and trapping. With the consumer desire for authentic and experiential experiences, there could be a new opportunity for guided hunting trips, fishing expeditions, and wildlife tours. This kind of trend would create more revenue sources in local communities and deeper commitment to species conservation. If that is not enough, these activities can further present an opportunity for educational programs where sustainable practices and wildlife management are implemented to attract more people from other groups to the market.

CHALLENGE

Perhaps it is its challenge in striking a balance between economic interests and conservation within the industry.

A strong balance to counteract the fishing, hunting, and trapping markets usually consists of a balance between conservation and economic interests. There's growing pressure to protect wildlife populations and ecosystems and additional pressure from the industry to find ways of remaining profitable as it abides by sustainable practices. The whole process requires working through complicated regulations, understanding the implementation of new technologies, and making considerable investments in more sustainable equipment and practices. Finally, activities-especially hunting and trapping-are challenging to social acceptance and market demand because of public perception. These pressures are somewhat maintained in continuity within the industry, which needs to make sure that their natural resources on which they rely, and their economic operations, are viable long-term.

REGIONAL INSIGHTS OF FISHING, HUNTING, AND TRAPPING MARKET

• NORTH AMERICA

North America is a potential market for fishing, hunting, as well as trapping activities due to the high tradition that exists in outdoor recreation management of wildlife. This region is highly rich in natural resources, having lengthened coastlines, diversified ecosystems, and rich wildlife populations. The recreational sector of the United States fishing, hunting, and trapping market is very active, with millions of Americans participating each year in these activities. In the U.S. market, one is able to notice a proper regulatory framework, dedicated conservation efforts, and a considerable ancillary impact from such related industries as equipment manufacturing and tourism.

• EUROPE

Fisheries, Hunting and Trapping - Activities with long and diversified traditions as well as legislations between countries. Commercial fisheries represent a high-profile activity where the coastal states very often hold important roles while EU holds a central position in many ways regarding fisheries management. Recreational fishing is popular over the region while hunting traditions vary much between different countries. For example, in the European market, the laws concerning sustainable fishing practice are rigid and more directed to hunting and trapping for conservation and animal welfare.

•   ASIA

  This region holds the majority share in the world's fishing. Countries such as China and Japan have big fishing fleets in addition to having immense consumption of seafood products. As per the statistics of FAO, China's capture fisheries production reached 15.31 million metric tons in 2022, which is the highest across the globe. The industry is of such significance that different countries either have rich traditional experiences related to hunting and trapping or rely on the conservation of wildlife. Recreational fishing and hunting tourism have been increasingly observed in the region, which, over time, will create opportunities for further market expansion in the years to come.

KEY INDUSTRY PLAYERS

"Contribution of Key Players to Market Development through Innovation and Market Expansion"

 Key players in the market develop strategic policies for innovation and expansion of their market shares, thus contributing to market growth. In this respect, the companies are advancing technologies that boost efficiency and reduce environmental impacts on fishing operations, manufacturing more ethical hunting gears that are efficient, and producing more humane ways of trapping. They are also expanding their product portfolios to include green products that could provide for the rising demand for eco-friendly practices. Many players make use of digital channels to improve market access and customer interaction. Some of the key factors contributing to growth and leading trends among players include investments in research and development, improvement in supply chain operations, and exploring new regional markets.

LIST OF THE KEY PLAYERS INVOLVED IN FISHING, HUNTING, AND TRAPPING

• Brunswick Corporation (U.S.)
• Shimano Inc. (Japan)
• Johnson Outdoors Inc. (U.S.)
• Vista Outdoor Inc. (U.S.)
• Yamaha Motor Co., Ltd. (Japan)
• American Outdoor Brands Corporation (U.S.)
• Rapala VMC Corporation (Finland)
• Newell Brands Inc. (U.S.)
• Pure Fishing, Inc. (U.S.)
• Garmin Ltd. (Switzerland)
• Malibu Boats, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENT

October 2023: Johnson Outdoors Inc. introduced environmentally friendly fishing equipment with fishing lures made from degradable materials and fishing rods manufactured with recycled material. The product line addresses the growing demand for sustainable fishing gear and serves to meet the tide of environmental sensitivity that is beginning to sweep through the industry.

REPORT COVERAGE

Complete SWOT analysis, along with the forecasted future trend of the market. It draws encouragement from the different factors responsible for its growth, in view of the various segments of the market and the possible applications that might affect the market in the coming years. It considers the ongoing fad and nuances of history that have been responsible for the steering and course the market has taken in its present shape and form, respectively. These are then integrated into a comprehensive view insofar as the makeup of the market is concerned, including any openings that might arise with due time.

This fishing, hunting, and trapping market will continue to grow due to increased outdoor sports interest, food derived from renewable resources, and rapid rates of technological change internally. Eco-tourism, sustainability, and integration of advanced technologies are emerging trends that protect market growth despite different challenges and increasing pressures emanating from environmental concerns and regulations. Key players always innovate and strategically develop the market to increase the efficiency and popularity of fishing, hunting, and trapping. Consumers' preferences keep changing toward sustainability and experience-oriented outdoor activities; therefore, the market is likely to change continuously with more innovations and higher penetrations likely to push up its growth in the near future.