Fishing Market Report 2025

The fishing market size has grown strongly in recent years. It will grow from $689.33 billion in 2024 to $736.51 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to cultural and traditional practices, economic dependence, global demand for seafood, government policies and regulations, tourism, and recreational fishing.

The fishing market size is expected to see strong growth in the next few years. It will grow to $964.73 billion in 2029 at a compound annual growth rate (CAGR) of 7%. The growth in the forecast period can be attributed to sustainable fishing practices, climate change impacts, eco-certifications and labels, global population growth, increased consumer demand for sustainable seafood. Major trends in the forecast period include customization in fishing gear, social media influence, introduction of smart fishing technologies, focus on family-friendly fishing, global expansion of fishing tourism.

The rising consumption of seafood is expected to drive the growth of the fishing market in the future. Seafood encompasses a variety of aquatic creatures consumed by people, such as fish, shrimp, and even octopuses. Fishing serves as the primary source of seafood, as it is the only method to catch cod, perch, salmon, sardines, trout, and many other marine species that are classified as seafood. The expansion of fishing increases the market size and enhances the availability of seafood, thereby boosting the fishing market. For example, in July 2022, data published by Statistics Iceland, an Iceland-based government agency, indicated that the total fish catch for June 2022 was nearly 35,000 metric tons, reflecting a 14,000-ton increase compared to June 2021. Thus, the increased consumption of seafood is fueling the growth of the fishing market.

The growth of aquaculture is expected to propel the fishing market forward. Aquaculture entails the controlled cultivation of various aquatic organisms, including fish, crustaceans, mollusks, and algae. Fishing plays a crucial role by supplying the essential raw materials needed for cultivating these aquatic species. The integration of aquaculture with capture fisheries aims to enhance the natural supply of both marine and freshwater organisms. For example, in March 2022, a report published by the Food and Agriculture Organization, an Italy-based agency of the United Nations, projected that the aquaculture sector would lead the growth of global fisheries and aquaculture production, exceeding 100 million metric tons for the first time in 2027 and reaching 106 million metric tons by 2030. This growth in aquaculture highlights its significant impact on the overall growth trajectory of the fishing market.

Technological advancements represent a prominent trend shaping the fishing market landscape. Key companies within the fishing industry are prioritizing the development of innovative solutions to fortify their market standings. As an illustration, Garmin Ltd., a US-based marine electronics manufacturing company, introduced the LiveScope XR System in July 2022. This live-scanning sonar technology enables real-time visualization of fish and structures up to 350 feet away in saltwater. It amplifies the live-scanning sonar range while maintaining image clarity and resolution, offering long-range and close-range views in real-time. Notable features include built-in stabilization systems for steady sonar images, vibrant color palettes, and multiple viewing mode options such as forward, down, and perspective modes. This technological advancement signifies the ongoing evolution within the fishing market to enhance efficiency and accuracy in fishing practices.

Leading companies in the fishing market are focusing on forming strategic partnerships to promote sustainable fishing practices and secure a competitive advantage. These collaborations involve various stakeholders, including fishery participants, seafood businesses, retailers, and NGOs, to implement actions that support sustainable seafood production. For example, in July 2024, the Southeast Asian Fisheries Development Center (SEAFDEC), an intergovernmental organization based in Thailand, announced a five-year partnership with the United States Agency for International Development (USAID), a federal agency from the U.S. The goal of this partnership is to improve the management of fisheries and aquaculture resources, promoting sustainable practices to protect biodiversity and enhance livelihoods in the Indo-Pacific region. Key objectives include supporting the implementation of sustainable fishery policies, providing resources and capacity-building for fishers, and strengthening the operational capabilities of national fisheries agencies to tackle illegal, unreported, and unregulated fishing.

In August 2022, Vista Outdoor Inc., a prominent US-based manufacturer and marketer of outdoor sports and recreation products, completed the acquisition of Simms Fishing Products for $192.5 million. This strategic acquisition is expected to fortify Vista Outdoor Inc.'s market presence by adding a high-end, innovative brand with substantial market potential to its portfolio. Simms Fishing Products, the acquired company, specializes in providing fishing equipment and solutions.

Major companies operating in the fishing market include Daiwa Corporation, Johnson Outdoors Inc., Maver UK Limited, Rome Specialty Company Inc., Shanghai Kai Chuang Marine International Co. Ltd., Pure Fishing Inc., Maruha Nichiro Corporation, Nissui Corporation, Thai Union Group Public Company Limited, Mowi ASA, Dongwon Enterprise Co. Ltd., Red Chamber Co., Skretting AS, Trident Seafoods Corp., Austevoll Seafood ASA, Sildarvinnslan HF, Aleutian Spray Fisheries Inc., Sahlman Seafoods Inc., Admiralty Island Fisheries Inc., Beaver Street Fisheries Inc., High Liner Foods Inc., Inland Seafood Inc., Sysco Corporation, Salmar Farming AS, Andrew Marr International Ltd., Grieg Seafood ASA, Marubeni America Corp., Charoen Pokphand Foods Group Co. Ltd., Kyokuyo Co. Ltd., Cooke’s fishing division Inc., Bakkafrost P/F, Biofish Holding A/S, Blue Island plc, Brim hf, PT Central Proteina Prima Tbk, PT Cilacap Samudera Fishing Industry Tbk, Clean Seas Seafood Ltd.

Asia-Pacific was the largest region in the fishing market in 2024 and is expected to be the fastest-growing region in the fishing market report during the forecast period. The regions covered in the fishing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the fishing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Fishing encompasses the activity or business of capturing fish using various techniques, such as fly-fishing, baitcasting, spinning, trolling, and other methods involving boats propelled by paddles, oars, or sails.

The primary fishing methods include pots and traps, line and pole, large nets, and single-line trolling. Pots and traps involve using nets or structures to guide fish into an enclosure, making it challenging for them to exit. This method is employed in diverse locations, including rivers, lakes, and seas, to catch various species such as clams, carp, tuna, salmon, squids, shrimp, cephalopods, and groundfish. The harvested fish are distributed through both online and offline channels, serving individual consumers, clubs, and sports organizers as end-users.

The fishing market research report is one of a series of new reports that provides fishing market statistics, including fishing industry global market size, regional shares, competitors with a fishing market share, detailed fishing market segments, market trends and opportunities, and any further data you may need to thrive in the fishing industry. This fishing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The fishing market includes revenues earned by entities by providing services such as culturing, processing, preserving, storing of fishing related consumables items. The market value includes the value of related goods sold by the service provider or included within the service offering. The fishing market also includes sales of hooks, fishing rods, nets, traps which are used in providing fishing services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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