In a recent market study published by Fact.MR, the current and future prospects of the Fishing Hooks Market are thoroughly analyzed. Further, the report includes an in-depth analysis of the various factors that are likely to control the growth trajectory of the Fishing Hooks Market in the upcoming years.
In addition, a qualitative and quantitative assessment of the various market segments is enclosed in the report and accurately represented in the form of tables, graphs, and figures.
The report indicates that the Fishing Hooks Market is expected to register a CAGR growth of ~XX% over the forecast period and reach a value of ~US$XX. The report elaborates on the micro and macro-economic factors that are projected to influence the growth of the Fishing Hooks Market in the upcoming years 2018 to 2028.
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Essential Findings of the Report
- Factors that are likely to impede the growth of the Fishing Hooks Market over the forecast period 2018 to 2028
- Competition analysis that provides intricate details related to the business prospects of leading market players
- Major trends influencing the dynamics of the Fishing Hooks Market
- Y-o-Y growth of each market segment
- Pricing strategies of various market players in the Fishing Hooks Market
Important questions pertaining to the Fishing Hooks Market catered to in the report:
- What is the projected revenue generated by some prominent market players in the Fishing Hooks Market?
- What are the prospects of the Fishing Hooks Market in region 1?
- What is the scope for innovation in the Fishing Hooks Market?
- How have government policies impacted the dynamics of the Fishing Hooks Market in various regions?
- Which region has the highest concentration of tier 1 companies?
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Fishing Hooks Market – Growing Popularity of Recreational Fishing Resulting Increase in Spending Of Fishing Tackle
Marine recreational fishing is a high participation activity with large economic value and social benefits across the globe. Approximately 8.7 million European recreational sea fishers participated in recreational fishing last year, the average per capita spending of Europe is around US$ 10. And it is high among other regions of the globe. And total expenditure of €5.9 billion is spent annually on the fishing tackle. In addition, fishing participation has increased by almost 20% over the last 10 years. Anglers have also increased their overall spend by 2.4% during the past five years. Revenue from equipment purchases to all trip expenditures also increased from US$ 45 billion to US$ 46.1 billion in the last five years.
According to the American Sport fishing Association (ASA), anglers in America generate more than US$ 48 billion in retail sales with a US$115 billion impact on the nation’s economy and create employment for more than 828,000 people. The average per capita spending of the U.S. is more than US$ 13, which is slightly higher than the European countries and other regions of the globe. The impact as such represents growing popularity of recreational fishing, which is likely to create a lucrative opportunity for fishing hooks market in the future.
An evolution in the designs of fishing tackles has been witnessed, which is aimed at achieving better results. Trending designs of fishing tackles are the ones with lifelike actions that mimic the appearance of a real fish or pray of the fish to be caught such as dragonfly, frog, or worm. Another design improvement is focused on improving the product finishes in terms of introducing features such as glow in the dark and UV integration. Due to growing efforts in the marine biodiversity conservation, new finishes in the design of fishing hooks have been introduced, which helps anglers to catch fish as well as release them without killing or causing any injury. In addition, implementation of new technologies allows anglers to use fishing hooks at a variety of water depths by increasing mobility by using different angling style. Introduction of the new tackle technologies are likely to boost the adoption of advanced fishing hooks in the estimated period.
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This post was originally published on Analytics News