The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The fishing, hunting, and trapping market have experienced a robust growth trajectory, with a notable increase from $1,085.26 billion in 2023 to an anticipated $1,162.13 billion in 2024. This growth is underpinned by a commendable Compound Annual Growth Rate (CAGR) of 7.1%. The historic surge is attributed to a variety of factors, including traditional subsistence practices, recreational and sport hunting, commercial fishing, conservation and wildlife management, and cultural and heritage practices.

Charting a Sustainable Future: Growth Projections and Influencers

• Forecasted Momentum: The market is poised for continued expansion, reaching $1,518.66 billion by 2028 at a CAGR of 6.9%.
• Shaping Forces: The anticipated surge in the forecast period is driven by sustainability and conservation efforts, the rise of ecotourism, technological adoption (GPS tracking, mobile apps, and drone-assisted hunting and fishing), climate change impact, and evolving regulations.
• Future Trends: Notable trends include the emergence of wildlife photography, the popularity of catch and release fishing, hunting for conservation purposes, ethical and sustainable hunting practices, and the rise of farm-to-table and local seafood consumption.

Seafood Demand Ignites Growth

• Seafood Surge: The increasing demand for seafood products is set to be a key growth driver for the fishing, hunting, and trapping market.
• Diverse Harvesting Methods: Fishing, hunting, and trapping are integral for obtaining seafood products, involving methods such as nets, lines, traps, and fishing vessels.
• Australian Scenario: In March 2023, the Australian fisheries and aquaculture production increased by 8% to $3.63 billion in 2022–23, with a projected 2% increase in 2023–24, highlighting the thriving demand for seafood products.

Industry Giants Steering the Market

• Market Leaders: Key companies shaping the fishing, hunting, and trapping landscape include Nippon Suisan Kaisha Ltd., Maruha Nichiro Corporation, Leroy Seafood Group ASA, and many others.
• Diverse Involvement: Companies such as Duck Commander, Costa Del Mar, Berkley Fishing, and National Rifle Association (NRA) play a significant role in the market, reflecting the diverse landscape of the industry.

Read The Full Fishing, Hunting And Trapping Market Report Here:
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Technological Transformation in Focus

• Tech-Driven Innovation: Major companies are at the forefront of adopting innovative technologies to gain a competitive edge in the market.
• AI-Guided Fish Harvesting Machine: In July 2022, Shinkei Systems launched an AI-guided fish harvesting machine, revolutionizing the fishing landscape.
• Humane and Efficient: The AI-guided fish harvesting machine utilizes a humane Japanese method, instantly and humanely killing fish using a spike to the brain.
• Computer Vision System: The machine employs a computer vision system to identify fish species and shapes, reducing waste and enhancing efficiency.

Segmentation Insights: Understanding Market Dynamics

• Type Segmentation: Fishing, Hunting And Trapping.
• Application Segmentation: Sportfishing Association, Fishing Organization, and Other Applications.

Regional Dominance: Asia-Pacific Takes Center Stage

• Largest Region in 2023: Asia-Pacific emerged as the largest region in the fishing, hunting, and trapping market in 2023, highlighting the significance of the region in the industry’s landscape.

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The Fishing, Hunting And Trapping Global Market Report 2023  provides an overview of the fishing, hunting and trapping market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The fishing, hunting and trapping market forecast analyzes fishing, hunting and trapping market size, fishing, hunting and trapping market share, leading competitor and their market positions.

The Table Of Content For The Fishing, Hunting And Trapping Market Include:

1. Fishing, Hunting And Trapping Market Executive Summary
2. Fishing, Hunting And Trapping Market Segments
3. Fishing, Hunting And Trapping Market Size And Fishing, Hunting And Trapping Market Growth Rate
4. Key Fishing, Hunting And Trapping Market Trends
5. Major Fishing, Hunting And Trapping Market Drivers
……
25. Key Mergers And Acquisitions In The Fishing, Hunting And Trapping Market
26. Top Fishing, Hunting And Trapping Companies
27. Fishing, Hunting And Trapping Market Opportunities And Strategies
28. Fishing, Hunting And Trapping Market, Conclusions And Recommendations
29. Appendix

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