Fishing, Hunting and Trapping Market - Global Industry Research Analysis

Fishing, Hunting And Trapping Market Insights

According to Market Research Store, the global fishing, hunting and trapping market size was valued at around USD 4.56 billion in 2023 and is estimated to reach USD 12.68 billion by 2032, to register a CAGR of approximately 12.03% in terms of revenue during the forecast period 2024-2032.

The fishing, hunting and trapping report provides a comprehensive analysis of the market, including its size, share, growth trends, revenue details, and other crucial information regarding the target market. It also covers the drivers, restraints, opportunities, and challenges till 2032.

To Get more Insights, Request a Free Sample

Global Fishing, Hunting and Trapping Market: Overview

Fishing, hunting, and trapping are traditional activities that encompass the harvesting of wildlife for various purposes, including food, recreation, trade, and conservation management. The market for these activities has evolved significantly, driven by rising consumer demand for sustainably sourced food, outdoor recreational activities, and wildlife management practices. This industry includes commercial and recreational fishing, hunting for game animals, and trapping for fur, pest control, and ecosystem balance.

Key Highlights

• The fishing, hunting and trapping market is anticipated to grow at a CAGR of 12.03% during the forecast period.
• The global fishing, hunting and trapping market was estimated to be worth approximately USD 4.56 billion in 2023 and is projected to reach a value of USD 12.68 billion by 2032.
• The growth of the fishing, hunting and trapping market is being driven by rising demand for seafood, advancements in aquaculture, and increasing popularity of recreational fishing and hunting activities.
• Based on the type, the fishing segment is growing at a high rate and is projected to dominate the market.
• On the basis of application, the sportfishing association segment is projected to swipe the largest market share.
• By region, Asia-Pacific is expected to dominate the global market during the forecast period.

Fishing, Hunting and Trapping Market: Dynamics

Key Growth Drivers:

• Recreational Pursuits: Growing interest in outdoor activities like fishing, hunting, and trapping for leisure and relaxation.
• Subsistence Living: Reliance on hunting and fishing for food and income in certain regions, especially in developing countries.
• Commercial Fishing: Demand for seafood products drives commercial fishing activities.
• Wildlife Management: Controlled hunting and trapping for population management and conservation efforts.

Restraints:

• Strict Regulations: Increasingly stringent regulations on fishing, hunting, and trapping to protect wildlife and ecosystems.
• Climate Change: Impact on fish populations, wildlife habitats, and weather patterns, affecting the industry.
• Illegal Activities: Poaching and illegal fishing threaten wildlife populations and sustainable practices.

Opportunities:

• Ecotourism: Development of sustainable tourism activities based on fishing, hunting, and wildlife viewing.
• Technological Advancements: Adoption of advanced technologies for efficient fishing, hunting, and trapping practices.
• Sustainable Practices: Growing demand for sustainably sourced products and eco-friendly practices.
• Aquaculture: Expansion of aquaculture to meet increasing seafood demand.

Challenges:

• Declining Wildlife Populations: Overexploitation and habitat loss impacting wildlife numbers.
• Environmental Concerns: Pollution, habitat destruction, and climate change affecting ecosystems.
• Economic Pressures: Fluctuating commodity prices and economic downturns impacting the industry.
• Public Perception: Negative perceptions of hunting and trapping due to animal welfare concerns.

Fishing, Hunting And Trapping Market: Report Scope

Fishing, Hunting and Trapping Market: Segmentation Insights

The global fishing, hunting and trapping market is divided by type, application, and region.

Segmentation Insights by Type

Based on type, the global fishing, hunting and trapping market is divided into fishing, hunting, and trapping.

Fishing stands as the most dominant segment in the fishing, hunting, and trapping market. The prominence of this segment stems from its critical role in providing food resources, supporting global aquaculture, and fulfilling recreational and commercial needs. Fishing includes both marine and inland fisheries, with a significant portion of the market driven by the increasing demand for seafood and the development of sustainable fishing practices. Moreover, advancements in fishing equipment and technologies, such as GPS-enabled devices and fish finders, have made this activity more efficient and lucrative, contributing to its dominant position.

Hunting follows as the second most significant segment. While it is less dominant than fishing, hunting remains vital for wildlife management, cultural traditions, and recreational activities. This segment is supported by the sale of hunting licenses, equipment, and guided tours, especially in regions where it is integrated into tourism. Additionally, hunting plays a role in maintaining ecological balance by controlling overpopulation in certain species, which helps preserve habitats and biodiversity.

Trapping is the least dominant segment in this market. This activity primarily caters to the fur industry, pest control, and wildlife conservation efforts. Though it has a smaller market share compared to fishing and hunting, trapping is essential for specific industries and environmental management practices. Regulations surrounding humane trapping methods and ethical concerns limit its growth, but its importance in certain niche applications ensures its continued presence in the market.

Segmentation Insights by Application

On the basis of application, the global fishing, hunting and trapping market is bifurcated into sportfishing association, fishing organization, and others.

Sportfishing Association is the most dominant application segment in the fishing, hunting, and trapping market. This segment thrives due to the widespread popularity of recreational fishing, which is not only a leisure activity but also a competitive sport in many regions. Sportfishing associations often organize tournaments, events, and conservation initiatives, attracting a large number of participants and sponsors. The segment benefits from increasing awareness about sustainable fishing practices and investments in infrastructure such as fishing charters, lodges, and specialized equipment.

Fishing Organization follows as the second most significant application. These organizations play a pivotal role in commercial fishing, aquaculture, and environmental stewardship. They represent the interests of fishermen, promote sustainable practices, and address issues such as overfishing and habitat destruction. Fishing organizations are integral in shaping policies and regulations, conducting research, and supporting the overall growth of the industry. Their contributions, while substantial, make them less dominant than sportfishing associations due to the latter's broad consumer appeal and recreational focus.

Fishing, Hunting and Trapping Market: Regional Insights

• Asia-Pacific is expected to dominates the global market

Asia-Pacific dominates the global market, driven by its extensive coastline, rich biodiversity, and cultural reliance on fishing and hunting. Countries like China, Indonesia, and Japan are major contributors due to their well-established fishing industries, which cater to both domestic and international markets. The region also benefits from advancements in aquaculture and increasing demand for seafood products, which fuel growth.

North America follows as a key player in the market, with a strong focus on recreational fishing. In the United States, fishing is a deeply ingrained cultural activity, attracting millions of anglers annually. The economic impact of expenditures on fishing equipment, trips, and related activities highlights the significance of this sector in the region.

Europe holds a notable share, with countries such as Norway and Spain leading in commercial fishing. Access to rich fishing grounds like the North Atlantic and Mediterranean Sea supports the market's growth. Furthermore, the region emphasizes sustainable fishing practices and strict regulations, ensuring the industry's long-term viability. Recreational hunting and fishing also contribute to the market's value.

Latin America is an emerging market, with countries like Brazil and Chile expanding commercial fishing operations. The region's diverse ecosystems and natural resources offer vast opportunities for growth. Efforts to modernize fleets and improve processing facilities aim to meet rising global seafood demand and enhance market competitiveness.

The Middle East and Africa, while smaller in market share, show potential for growth. In Africa, initiatives to develop sustainable fishing practices and improve food security are gaining momentum. Similarly, Middle Eastern nations are investing in aquaculture to reduce reliance on imports and support local economies, signaling promising prospects for the market.

Fishing, Hunting and Trapping Market: Competitive Landscape

The report provides an in-depth analysis of companies operating in the fishing, hunting and trapping market, including their geographic presence, business strategies, product offerings, market share, and recent developments. This analysis helps to understand market competition.

Some of the major players in the global fishing, hunting and trapping market include:

• Legacy Anglers
• Keep America Fishing Organization
• NASGW
• NRA
• Maruha Nichiro Corporation
• Nippon Suisan Kaisha Ltd.
• Thai Union Group
• Trident Seafoods Corporation
• Beaver Street Fisheries, Inc.
• Cooke Aquaculture
• American Sportfishing Association (ASA)
• Daiwa Seiko Co. Ltd.
• Shimano Inc.
• Yamaha Motor Co. Ltd.

The global fishing, hunting and trapping market is segmented as follows:

By Type

• Fishing
• Hunting
• Trapping

By Application

• Sportfishing Association
• Fishing Organization
• Others

By Region

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • France
  • Germany
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• The Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East Africa

Frequently Asked Questions