The recreational fishing market - Italy

The global recreational and sport fishing equipment market is experiencing growth, with a projected CAGR of 6.47% from 2023-2030. In 2021, China led the market revenue with $4.701 billion, followed by India, the United States, Indonesia, and Japan. Italy's market share amounted to 4.3% of Europe's total revenue that year, with a deficit trade balance as imports consistently exceeded exports from 2018-2022. In terms of sales channels, the Italian market predominantly relied on offline sales (87.7% in 2021), although online sales are expected to rise to 28.7% by 2025. The COVID-19 pandemic negatively impacted the market with decreased gatherings and trade, but recovery is anticipated as production and supply networks improve. Key demand determinants include innovations in fishing equipment, growing fishing associations, and available fish species. Despite the pandemic's setback in 2020, the market is forecasted to recover, with Italy's market expected to grow at a 2.70% CAGR from 2023-2027..**Trends in Italy's Recreational and Sport Fishing Market** Italy has developed a niche market in recreational and sport fishing, given its vast coastlines and numerous lakes and rivers, making it an ideal location for such activities. The Italian market, in 2021, stood as a significant contributor to the European revenue, holding a share of approximately 4 to 5 percent. This market niche is not only defined by traditional fishing practices but also by competitive and recreational angling. The nation's market displayed a consistent growth with revenues reaching around $90 million to $100 million in 2022, and it is projected to expand with an annual growth rate of approximately 2 to 3 percent during the forecast period from 2023 to 2027. A significant portion of this market comprises the sale of equipment such as fishing rods, reels, and hooks, crucial components for any angler. Despite the flourishing domestic interest, Italy witnesses a trade deficit with imports surpassing exports. Specifically, imports of fishing rods nearly touched $20 million while fishing reels stood at over $15 million in 2022. Sales through offline channels contribute to the majority of revenue, with almost 87 to 88 percent of sales occurring through brick-and-mortar stores in 2021. However, there is an anticipated shift with online sales projected to rise to about 28 to 29 percent by 2025, indicating a gradual yet notable digital transformation within the sector. The growing trend in Italy is further catalyzed by innovation within the fishing equipment market and the proliferation of fishing associations and clubs. These organizations play a vital role in promoting fishing, educating, and even contributing to the technological advancement of the industry. However, one cannot ignore the deterrent of high equipment prices that may act as a barrier to entry for potential new enthusiasts. Specialty retailers like VERET have documented that prices for fishing gear can vary, with average costs for rods beginning at approximately 4 to 5 euros and reaching higher according to quality and specifications. Overall, the Italian market for recreational and sport fishing shows a promising future due to the combined effects of market innovations, the geographic predisposition of the country, and a robust existing community of anglers, despite the challenges posed by a deficit trade balance and the luxury pricing of high-quality equipment..### Leading Companies Shaping the Recreational and Sport Fishing Equipment Market The recreational and sport fishing equipment market is vibrant and dynamic, with various players that contribute to its growth, innovation, and competitiveness. Prominent companies recognized for their influence in this market not only provide enthusiasts with cutting-edge equipment but also push the boundaries of technology and design in fishing gear. Here we highlight some of the key companies that stand out in this global industry. #### Eagle Claw Fishing Tackle Co. (USA) Eagle Claw represents the essence of American ingenuity in the fishing equipment market. As a family-owned company with a rich history, they are known for their commitment to craftsmanship and the environment. Producing a variety of fishing gear, including hooks, rods, and tackle, Eagle Claw is synonymous with quality and reliability, truly embodying the spirit of the sport. #### POKEE FISHING TACKLE (China) POKEE FISHING TACKLE has established itself as a significant player in the high-volume Chinese market. Catering to a growing population of recreational anglers, POKEE offers a wide range of fishing tackle products. Its prominence in China is indicative of the nation's increasing appetite for recreational fishing and the demand for affordable, accessible fishing equipment. #### Globeride, Inc. (Japan) Japanese precision and attention to detail shine through in the products manufactured by Globeride, Inc. Specializing in fishing rods and reels, Globeride has carved out a reputation for producing some of the most finely-engineered equipment in the market, blending traditional craftsmanship with modern technological advancements. #### International Electro Medical Co. (India) The International Electro Medical Co. from India is part of the emerging market players, showcasing the growing interest and investment in recreational fishing within the region. Though not primarily focused on fishing equipment, their involvement represents the interconnectedness of diverse industries in the promotion of recreational fishing. #### Mustad & Son AS (Norway) Mustad & Son AS, hailing from Norway, has a storied legacy in producing some of the world’s finest fishing hooks. Renowned for their exceptional quality, durability, and innovative designs, Mustad continues to be a go-to brand for anglers who expect the best from their fishing tackle. #### Rapala VMC Corporation (Finland) The Finnish-based Rapala VMC Corporation is a major influence worldwide with a reputation for top-tier fishing lures, knives, tools, and accessories. Favored by professional and amateur anglers alike, Rapala’s commitment to innovation and

Inforamtion

• Number of pages : 30 pages
• Format : Digital and PDF versions
• Last update : 12/07/2023

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Summary and extracts

List of charts

• Share of revenue by Offline and Online sales channels
• Size of the global market for recreational and sport fishing equipment
• Number of active enterprises
• Fish consumption
• Share of fish consumption by frequency
• Population change
• Legal form of active enterprises
• Size of the recreational/sport fishing equipment market
• Value of production
• Number of people employed in the sectors
• Export values of three recreational and sport fishing items
• Values of imports of three recreational and sport fishing items
• Coverage rate of three recreational and sport fishing items

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