The recreational fishing market - Italy

Under the termrecreational fishing refers totothe activity exercised exclusively for recreational and competitivecheusesliving aquatic resourcesand isexercised along the coastsmarine, of rivers or in lakes,either at the surface or underwater. It differs from commercial fishing in that, in recreational fishing, the sale of caught product in any form is strictly prohibited [Coast Guard]. In addition, it differs from recreational fishing only in that in the latter the individuals belong to a national sports organization or hold a national sports license. The recreational fishing market refers to the supply of products and services that enable the practice of fishing. This market, therefore, includes fishing equipment (fishing rods, reels and more), the licenses needed to be able to practice this activity, means of transportation, also referred to as vessels, and more. The global recreational and sport fishing equipment market is growing with a compound annual rate CAGR of 6.47 percent over the forecast period 2023-2030. China is the market leader based on the revenue shown in 2021, mainly due to the strong demand from the growing population. The Italian market in 2021 accounted for 4.3% of total revenues in Europe, an area where Germany is the revenue leader. Also in Italy, the trade balance of sa fishing rods, fish hooks and reels in the period 2018 - 2022 was always in deficit, that is, imports exceeded exports. In addition, the market consists of numerous Italian associations dedicated to sport fishing, which in turn have a large number of members. In Italy today, there are about 2,209 sports bodies and organizations, including those made up of sport and recreational fishermen. In terms of distribution, the offline channel, with a good number of specialized outlets, is the most developed although the online channel is expected to grow. In conclusion, given the large extension of the Italian coastline and the prosperity of lakes and riverbanks in the Italian territory, this country appears to be particularly predisposed to the activity of recreational and sport fishing. In addition, innovations in the market as well as the increase of sports associations will contribute to the growth of the market in Italy.