The fishing footwear market size was valued at US$ 508.21 million in 2022 and is expected to reach US$ 848.80 million by 2030; it is estimated to register a CAGR of 6.6% from 2022 to 2030.
MARKET ANALYSIS
Fishing footwear primarily provides protection and comfort while fishing. They help keep the feet dry, provide traction on slippery surfaces, and offer support during long hours of fishing. The increasing rise in fishing activities has created lucrative opportunities for the fishing footwear market. Fishing footwear also aids in the prevention of blisters and other foot injuries caused by prolonged standing or walking in wet conditions. Protective fishing boots are helpful in preventing unwanted piercings from hooks, gaffs, and other fishing fishing-related injury. Fishing footwear is designed to repel water and other liquids to provide comfort while fishing. A growth in recreational and commercial fishing activities creates a huge demand for fishing footwear. Fishing footwear offers different advantages and high levels of protection to fishermen.
GROWTH DRIVERS AND CHALLENGES
Fishing is gaining immense popularity as an outdoor activity in many parts of the world, especially in the US, the UK, and Australia. According to the Recreational Boating and Fishing Foundation (RBFF), in 2021, over 52.4 million Americans aged six and above participated in recreational fishing. The rate of participation in recreational fishing is increasing at a steady rate in the US. Further, the rising interest in fishing as an outdoor activity, along with the booming commercial fishing industry, is providing a strong growth platform to the manufacturers of fishing footwear across the globe. Therefore, the manufacturers of fishing footwear are launching innovative products with enhanced performance to meet the rising demand and achieve a competitive advantage over other players operating in the fishing footwear market. For instance, in January 2023, Douglas Gill International Limited, a US-based company fishing apparel and footwear company, launched a new collection of high-performing fishing deck boots that are waterproof and have a sticky grip, rugged durability, and comfortable cushioning. However, fishing footwear such as boots, shoes, sandals, and flip-flops is witnessing significant demand among commercial as well as recreational fishers. However, a few footwear materials, such as felt soles, cause potential harm to animals and plants, which limits their adoption among consumers. Felt sole provides significant traction to anglers on sandy rivers due to their ability to provide good balance on slippery rocks.
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Fishing Footwear Market: Strategic Insights
Market Size Value in US$ 508.21 million in 2022 Market Size Value by US$ 848.80 million by 2030 Growth rate CAGR of 6.6% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Fishing Footwear Market: Strategic Insights
| Market Size Value in | US$ 508.21 million in 2022 |
| Market Size Value by | US$ 848.80 million by 2030 |
| Growth rate | CAGR of 6.6% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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REPORT SEGMENTATION AND SCOPE
The "Global Fishing Footwear Market Analysis and Forecast to 2030" is a specialized and in-depth study focusing significantly on global market trends and growth opportunities. The report aims to provide an overview of the global market with detailed market segmentation on the basis of product type, category, end-use, and geography. The report provides key statistics on the use of fishing footwear across the globe, along with their demand in major regions and countries. In addition, the report provides a qualitative assessment of various factors affecting the fishing footwear market performance in major regions and countries. It also includes a comprehensive analysis of the leading players in the fishing footwear market and their key strategic developments. Analysis of the market dynamics is also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.
The ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global fishing footwear market, which helps understand the entire supply chain and various factors influencing the market growth.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
SEGMENTAL ANALYSIS
The global fishing footwear market is segmented on the basis of product type, category, and end-use. Based on product type, the fishing footwear market is segmented into boots, shoes, and others. The boots designed for fishing primarily provide protection and comfort for anglers while fishing. They also help keep the feet dry, provide traction on slippery surfaces, and provide support during long hours of fishing. For anglers who catch fish from shore, structure, or on a boat, ankle boots are best suited. However, they don’t cover as much of offer less coverage of legs as compared to knee boots but provide coverage and offer sufficient traction when a boat's deck takes on water. Based on category, the fishing footwear market is segmented divided into men and women. Men's fishing footwear products are available in different styles, designs, and features. There are so many brands in the market that offer different types of footwear for men for a range of fishing applications. The demand for men's fishing footwear is increasing with the growing participation of men in fishing activities. Based on end use, the market is segmented bifurcated into residential/ recreational and commercial. In residential/recreational fishing, footwear is used as it provides full protection from water and weather, improved levels of comfort and support, increased stability and traction, and optimizes temperature regulation. The demand for fishing footwear for recreational purposes is increasing continuously with the growing number of people participating in recreational fishing activities. In many countries across the globe, the popularity of recreational fishing is increasing as it promotes physical and mental well-being and offers a chance to connect with nature.
Fishing Footwear Market – by Category, 2022 and 2030
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
REGIONAL ANALYSIS
The report provides a detailed overview of the global fishing footwear market with respect to five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America accounted for the largest share of the global fishing footwear market and was valued at over US$ 180 million in 2022. North America marks the presence of major recreational fishing activities in the region. Europe is expected to reach over US$ 280 million by 2030. Asia Pacific is expected to record a CAGR of ~7% from 2022 to 2030. In 2022, North America dominated the global fishing footwear market. The fishing footwear market in North America is mainly driven by factors such as growing participation in recreational fishing, an increase in commercial fishing activities, and rising efforts by manufacturers to develop durable, comfortable, and high-quality fishing footwear products. In North America, a growing number of people are engaging in freshwater, saltwater, and fly-fishing activities.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
A few initiatives taken by the key players operating in the fishing footwear market are listed below:
In March 2023, Grundéns, a producer of fishing apparel and footwear in Sweden, announced the launch of the GORE-TEX Boundary Wading collection. This collection offers complete male and female-specific waders and the Boundary Wading boots.
IMPACT OF COVID-19 PANDEMIC/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
Before the COVID-19 pandemic, many countries across the world reported economic growth. The key manufacturers invested in the research and development of fishing footwear. They also focused on expanding geographic reach through mergers and acquisitions to cater to a broad customer base. Before the pandemic, the fishing footwear market reported steady growth due to increasing demand from the consumer goods industry. However, during the pandemic, supply chain disruptions, raw material and labor shortages, and operational difficulties created a demand and supply gap, adversely affecting the growth of the consumer industry. Manufacturers reported challenges in sourcing raw materials and ingredients from suppliers, impacting the production rate of fishing footwear.
The demand and supply gap was also recorded in several regions due to fluctuating demand from the consumer goods industry. In 2021, rising vaccination rates contributed to improvements in the overall conditions in different countries, which led to conducive environments for the consumer goods industry. The sales of fishing footwear increased with the resumption of production and sales operations of companies operating in the consumer goods industry. The increasing demand for high-quality fishing footwear solutions in these industries has propelled the growth of the fishing footwear market.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Shimano Singapore Pte Ltd, Grundens LLC, Aftco Manufacturing Co Inc, Huk Gear, Korkers Products LLC, Bryant Sales Co LLC, Guntersville Breathables Inc, Pelagic Inc, Vista Outdoor Inc, and Rocky Brands Inc are among the key players operating in the fishing footwear market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Category, and End Use
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Fishing is gaining immense popularity as an outdoor activity in many parts of the world, especially in the US, the UK, and Australia. According to the Recreational Boating and Fishing Foundation (RBFF), in 2021, over 52.4 million Americans aged 6 and above participated in recreational fishing. The rate of participation in recreational fishing is increasing at a steady rate in the US. The figure below shows the participation rate for recreational fishing over the years in the US.
North America accounted for the largest share of the global fishing footwear market. The fishing footwear market in North America is mainly driven by factors such as growing participation in recreational fishing, an increase in commercial fishing activities, and rising efforts by manufacturers to develop durable, comfortable, and high-quality fishing footwear products.
Based on category, the fishing footwear market is divided into men and women. Women's fishing footwear products are available in different styles, designs, and features. There are so many brands in the market that offer different types of footwear for women for a range of fishing applications. The demand for women's fishing footwear is increasing with the growing participation of men in fishing activities.
Based on product type, the fishing footwear market is segmented into boots, shoes, and others. The boots designed for fishing primarily provide protection and comfort for anglers while fishing. They also help keep the feet dry, provide traction on slippery surfaces, and provide support during long hours of fishing. For anglers who catch fish from shore, structure, or on a boat, ankle boots are best suited. However, they offer less coverage of legs compared to knee boots and offer sufficient traction when a boat's deck takes on water.
The major players operating in the global fishing footwear market are Shimano Singapore Pte Ltd, Grundens LLC, Aftco Manufacturing Co Inc, Huk Gear, Korkers Products LLC, Bryant Sales Co LLC, Guntersville Breathables Inc, Pelagic Inc, Vista Outdoor Inc, and Rocky Brands Inc..
In recent years, there has been a massive transformation in the organized retail sector. The emergence of e-commerce has resulted in considerable changes in the way people shop and spend their money. The increasing penetration of smartphones and the internet, easy access to emerging technologies, rising purchasing power, and convenience provided by online retail shopping platforms from anywhere at any time are among the key factors bolstering the e-commerce industry.
The List of Companies - Fishing Footwear Market
- Shimano Singapore Pte Ltd
- Grundens LLC
- Aftco Manufacturing Co Inc.
- Huk Gear
- Korkers Products LLC
- Bryant Sales Co LLC
- Guntersville Breathables Inc
- Pelagic Inc
- Vista Outdoor Inc
- Rocky Brands Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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