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Fishing Net Market Size, Share & Industry Analysis, By Type (Gill Net, Cast Net, Hoop Net, Others), By Distribution Channel (Offline, Online), By End-User (Commercial, Household)and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI103088 | Status : Ongoing

 

KEY MARKET INSIGHTS

The significant expansion of the aquaculture industry coupled with the increasing demand for fish and other marine animals such as prawns, crabs, and many others are predicted to leverage the demand for fishing net in the forthcoming years. According to the State of World Fisheries and Aquaculture (SOFIA) 2018, the world aquaculture production increased significantly from 73.8 million tons in 2014, 81.2 million tons in 2015, and 90.9 million tons in 2016. The increasing world aquaculture production is predicted to drive the global market of fishing tools.


The prominent players operating in the market are embarking upon the research and development of the degradable fishing net to protect the marine ecosystem and to increase their footprint in the global market of fishing net. Moreover, fishing is the primary source of earning in many emerging countries which is expected to increase the demand for fishing tools such as net, hooks, and others. The majority of fishing nets are produced by using synthetic fibers such as nylon which exhibit flexibility and excellent strength, ensuring good fishing performance and durability. These synthetic fishing nets are strongly built and maintain functionality for a long period which is predicted to boost the demand for synthetic fishing nets.

Aquaculture is the world’s fastest-growing food production system. During the past few decades, aquaculture production has increased tremendously. This sector is rapidly gaining importance as a result of dwindling catches of fish from natural water bodies and increasing global demand for seafood. The increasing popularity of seafood coupled with the increasing demand for fish and krill oil due to its various health benefits is anticipated to boost the global fishing net market in forthcoming years. Moreover, the increasing demand for nylon-based fishing net owing to its better physical strength such as breaking strength, elongation, and firm mesh shape is predicted to positively impact the sale of nylon fishing net. The nets of organic polyamides such as wool or silk thread are widely utilized at house scale level. The easy and affordable availability of fishing net in various sizes and shapes is expected to further drive the market growth. The increasing innovation by the prominent market players, such as the launch of biodegradable fishing net that are degraded by microorganisms (bacteria or fungi) in seawater after a certain period is predicted to drive the market growth. Moreover, the increasing use of re-usable plastic for the manufacturing of fishing net is predicted to positively impact the market growth in forthcoming years.


The stringent rules and regulations about the over-fishing and anti-dumping activities owing to the dramatic decrease in many species of aquaculture are predicted to restrain the market growth. Furthermore, the fluctuating raw material cost of fishing net fiber is expected to hamper the market growth.

Key Players Covered:


The prominent players operating in the global fishing net market are Nitto Seimo, Viet AU ltd., Magnum polymers Pvt. ltd., Taizhou Winstrong Special Net Co. Ltd., Brunsonnet and Supply Inc., Siang May, Memphis Net and Twine, Miller Net Company Inc., Naguara Net Co. Inc., and others.

Gill nets are expected to witness significant growth in the global market of fishing nets. Gill nets are used widely in the coastal fisheries of the world because of their low cost and versatility. These aforementioned reasons are predicted to drive the demand for gill nets. Gill nets are made with fine strings that are selected to be relatively invisible to the fish, especially at low light intensities. Once a net is invisible, the target marine animals are unaware of its presence and then swim into it, and can become trapped by the meshes. The ease of application offered by the gill net is predicted to increase the demand for the same. Moreover, household use of the cast net is increasing owing to its simplicity of design, construction, operation, and its low energy requirement makes the net very popular especially in the household and traditional sector.

The offline sale of the fishing net is predicted to hold a considerable share in the global market of the fishing net. The increasing consumer dependency on the various facilities offered by fishing net stores such as wider product range, freedom of selection, and discount offers is anticipated to increase foot counts on the floor. Furthermore, the doorstep delivery and cash-on-delivery offered by various online portals are predicted to increase the sale from various online stores. The commercial use of the fishing net is predicted to dominate the global market of the fishing net. The tremendously increasing demand for seafood along with the increasing selection of fishing as a major source of disposable income for disadvantaged and marginal populations in many emerging countries are predicted to drive the commercial use of the fishing net.

Regional Analysis:


Asia Pacific is anticipated to hold a prominent share in the global market of fishing net. Fishing in Asia Pacific has been gaining rapid popularity because of the presence of an eclectic variety of fish and other marine animals. For instance, in 2018, the total fisheries production of India was 13.7 million metric tons which constitutes approx. 6.5% of global fish production. The various government policies and subsidiaries to support and develop the fisheries sector which can further propel the fisheries industry which is expected to increase the sale of the fishing net within the region.

North America is anticipated to witness considerable growth in the global market of fishing net. The increasing awareness about the benefits of fish and krill oil along with the increasing demand for fish within the region can positively impact the fisheries industry which is predicted to drive the demand for fishing net. The ease of product availability owing to the presence of prominent players such as Miller Net Company Inc., Memphis Net and Twine, and others within the region is predicted to drive the market in North America. Moreover, in both the United States and Canada, there is robust institutional support for aquaculture and government assurances to raise industry expansion within the region which is expected to boost the sale of fishing net.


Segmentation


























 ATTRIBUTE

  DETAILS

By Type



  • Gill Net

  • Cast Net

  • Hoop Net

  • Others (Lift Net, Push Net, and Others)



By Distribution Channel



  • Offline

  • Online



By End-User



  • Commercial

  • Household



By Geography



  • North America (U.S., Canada, and Mexico)

  • Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East & Africa (South Africa, UAE, and Rest of ME&A)



Key Industry Developments:



  • In the year 2020-21, the Government of India has announced the allocation of approximately USD 74 Million for continuation of ‘Blue Revolution Scheme’

  • In May 2019, BUBBA, South American company announced the launch of the BUBBA Fishing Net. The launch of fishing net is expected to help the company to step into premium and highly dependable fishing products range. The BUBBA Fishing Net is widely available online.





  • Ongoing
  • 2023
  • 2019-2022

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