The global fishing lures market is poised for significant growth from 2025 to 2032. In 2024, the market was valued at approximately USD 3.35 billion and is projected to reach USD 5.36 billion by 2033, exhibiting a Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period.
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Fishing lures are artificial baits designed to attract fish by mimicking their natural prey through movement, vibration, and color. They are essential tools for both recreational and commercial fishing activities.
Rising Popularity of Recreational Fishing: An increasing number of individuals are engaging in fishing as a leisure activity, driving the demand for innovative and effective fishing lures.
Technological Advancements: Continuous improvements in lure design and materials enhance their effectiveness, attracting more anglers to invest in advanced products.
Growing Disposable Income: Economic growth in various regions has led to higher disposable incomes, enabling consumers to spend more on recreational activities and related equipment.
The fishing lures market can be segmented based on type, application, and region.
By Type:
Freshwater Fishing Lures: Designed specifically for freshwater environments.
Saltwater Fishing Lures: Tailored for saltwater fishing conditions.
By Application:
Fishing Supply Stores: Traditional brick-and-mortar outlets specializing in fishing gear.
Sports Outlets: Retailers offering a broad range of sporting goods, including fishing equipment.
Online Retail: E-commerce platforms providing a wide selection of fishing lures.
Others: Various other distribution channels.
North America: A mature market with a strong base of recreational anglers.
Europe: Steady growth driven by environmental awareness and the popularity of fishing as a pastime.
Asia-Pacific: Expected to witness the fastest growth due to increasing interest in recreational fishing in countries like China, Japan, and Australia.
Middle East and Africa: Emerging markets with potential for growth as fishing gains popularity.
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The market is characterized by the presence of several key players focusing on product innovation and strategic partnerships to enhance their market share. Some prominent companies include:
Eagle Claw
Newell Brands
Okuma
Shimano
Tica
13 Fishing
AFTCO (The American Fishing Tackle Company)
Bass Pro Shops
Cabela's
Fenwick
Globeride
Gamakatsu
Future Outlook
The fishing lures market is anticipated to maintain its growth trajectory through 2032, driven by the factors mentioned above. Manufacturers are expected to continue focusing on innovation, sustainability, and expanding their distribution networks to capitalize on emerging opportunities.