South Korea Fishing Lures Market was valued at USD 0.17 Billion in 2022 and is projected to reach USD 0.25 Billion by 2030, growing at a CAGR of 5.6% from 2024 to 2030.
The South Korea Fishing Lures Market is a dynamic and evolving industry that plays a crucial role in the fishing community. As one of the key markets for fishing lures in Asia, South Korea’s demand for these products is fueled by both recreational anglers and the commercial fishing industry. The market is marked by innovation and a growing interest in high-performance lures designed to meet the needs of diverse fishing environments.
One of the most important types of fishing lures in South Korea includes artificial baits such as jigs, spinners, and crankbaits. These lures are highly favored due to their ability to mimic natural prey, enticing a wide variety of fish species. In addition to these traditional lures, there is a noticeable shift toward environmentally friendly options, with biodegradable materials and sustainable practices becoming more common in the industry.
Industries requiring fishing lures, such as sport fishing and recreational businesses, are seeing increased demand for specialized products. Professional anglers seek high-quality lures that offer enhanced durability and realistic action in the water. Moreover, the rise of fishing tourism in coastal regions has boosted the demand for premium lures, specifically tailored for deep-sea fishing and offshore fishing expeditions.
The fishing lures market in South Korea is also influenced by the growth of e-commerce platforms, where online sales of fishing gear, including lures, have surged. This digital transition has made it easier for consumers to access a wide range of lures from global and local manufacturers. The convenience of online shopping has reshaped the way anglers approach purchasing their fishing lures, further diversifying the types of products available on the market.
As industries demand more advanced and efficient lures, manufacturers are innovating new designs and technologies to meet these needs. With technological advancements such as smart lures integrated with sensors and connectivity features, the future of the fishing lures market in South Korea looks promising. These innovations promise to cater not only to the growing demands of professional anglers but also to the evolving preferences of recreational users.
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Eagle Claw
Newell Brands
Okuma
Shimano
Tica
13 Fishing
AFTCO (The American Fishing Tackle Company)
Bass Pro Shops
Cabelas
Fenwick
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Fishing Lures Market
Jigs
Spinnerbaits
Crankbaits
Swimbaits
Soft Plastics
Poppers
Plastic
Wood
Metal
Rubber
Other Materials
Freshwater Fish
Saltwater Fish
Predatory Fish
Game Fish
Natural Color
Bright Color
Glow-in-the-Dark
Multicolor
Metallic
Single Hook
Treble Hook
Double Hook
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Fishing Lures Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Fishing Lures Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Fishing Lures Market, By Type
6. South Korea Fishing Lures Market, By Application
7. South Korea Fishing Lures Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Fishing Lures Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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