Summary

Fishing has played a significant role in the cultural and economic development of South America, with a rich and diverse fishing culture that varies depending on the region and the communities that practice it. In many coastal regions of South America, fishing has been a way of life for centuries, with indigenous communities utilizing traditional fishing techniques and knowledge passed down through generations. These fishing techniques include the use of nets, hooks, and traps, as well as fishing with harpoons and spears. In the Amazon Basin, fishing is a vital source of food and income for many indigenous communities. These communities use a variety of traditional fishing techniques, such as using poisonous plant extracts to stun fish, as well as the use of traps and nets. In addition to subsistence fishing, many communities also engage in commercial fishing, selling their catch in local markets. The culture of fishing equipment in South America varies depending on the region and the type of fishing being practiced. Traditional fishing techniques often involve the use of simple and locally-made equipment, while modern commercial fishing relies on more advanced technology and equipment. Modern commercial fishing in South America relies on a variety of advanced equipment, including trawlers, fishing boats equipped with nets, and fish-finding sonar technology. Large industrial fishing vessels are used to catch species such as anchovy and tuna in the Pacific Ocean off the coast of Peru and Chile. These vessels use large nets to catch fish in large quantities, which are then processed and exported. In the Amazon Basin, indigenous communities use a traditional fishing technique called "hunting fish" that involves using bows and arrows to catch fish. This technique is still practiced today and is a sustainable way of fishing in the region.

According to the research report, “South America Fishing Equipments Market Outlook, 2028” published by Bonafide Research, the market was valued at USD 1171 Million in 2022. Fishing equipment is essential to the cultural, economic, and environmental sustainability of fishing in South America, from traditional artisanal fishing to modern commercial fishing practices. Fishing is a vital source of protein and nutrition for many people in South America, particularly in coastal and riverine communities. Traditional and artisanal fishing practices often use simple and sustainable equipment to catch fish, which provides a source of food that is both healthy and accessible. Also, the use of sustainable fishing equipment and practices is crucial to ensuring the long-term health of fish populations and marine ecosystems in South America. By using equipment such as fishing nets that allow small or non-targeted species to escape, fishermen can reduce bycatch and help to protect the marine environment. Fishing equipment can also be used to monitor fish populations and ensure that fishing is done in a sustainable manner. Fishing is also a popular leisure activity in South America, with many people participating in freshwater and saltwater fishing. This has created a demand for fishing equipment such as rods, reels, lures, and fishing line, as well as boats and other accessories. Advances in fishing technology, such as fish-finding sonar and GPS navigation systems, have made fishing easier and more efficient for both recreational and commercial fishermen. This has led to a demand for modern fishing equipment that incorporates these technological advancements.

Based on the report, the market is segmented into various product types including hooks, lines, sinkers & floats, rods, reels, nets & traps, spears & gaffs, baits & lures and others. Among them, reels segment is leading the market in 2022 followed by baits & lures. Spinning reels are popular among anglers in South America due to their versatility and ease of use. They can be used for a variety of freshwater and saltwater fishing applications and are suitable for both beginner and experienced anglers. However, Baitcasting reels are also used in South America, particularly among experienced anglers who prefer a more specialized and precise fishing experience. These reels are often used for targeting larger fish species and require a higher level of skill to operate effectively. On the other hand, live bait is commonly used in South America for both freshwater and saltwater fishing. Some examples of live bait used in the region include worms, shrimp, and minnows. Artificial lures, such as crankbaits, jigs, and soft plastic baits, are popular among anglers in South America. These lures are often designed to mimic the movement and appearance of natural prey, making them effective for catching a wide range of fish species. Fishing rods are growing with a higher CAGR compared to other segments. The growth in the popularity of fishing in South America, combined with advancements in technology and new fishing techniques, has led to an increase in demand for specialized fishing rods that can meet the needs of different types of anglers and fishing applications.

Further, the market is segmented into three major countries including Brazil, Argentina and Colombia. Among them, Brazil is anticipated to lead the marker during the forecast period with over 40% market share. Brazil is home to a diverse range of fishing locations, including rivers, lakes, and the Atlantic Ocean. This has led to a wide variety of fishing equipment being used throughout the country, including different types of rods, reels, baits, and lures. Fishing tournaments are a popular activity in Brazil, with several competitions held throughout the year. These events showcase the latest fishing equipment and techniques and bring together anglers from all over the country to compete for prizes. Brazil's indigenous communities have a long history of fishing, and their traditional fishing equipment and techniques have influenced the country's fishing culture. For example, the use of woven fishing nets is a common practice among indigenous fishermen in Brazil. In recent years, there has been an increased focus on sustainability in Brazilian fishing culture. Anglers are encouraged to practice catch and release fishing, as well as using biodegradable fishing equipment, to help protect the country's fish populations and aquatic ecosystems.

According to the report, the market is further categorized into three nature types including fresh water, sea water and fly fishing. Among them, fresh water segment is expected to add around USD 100 Million market size from 2023 to 2028. Freshwater fishing is a popular activity in South America, with numerous rivers, lakes, and reservoirs throughout the region. South America is home to a vast network of rivers, lakes, and other freshwater bodies, making it a prime destination for freshwater fishing. One of the most significant freshwater sources in South America is the Amazon River and its many tributaries. The Amazon River alone accounts for approximately 20% of the world's freshwater discharge into the ocean. Other notable freshwater sources in South America include the Paraná River, the Uruguay River, and Lake Titicaca, which is the highest navigable lake in the world. However, the Atlantic Ocean and the Pacific Ocean border South America, providing ample opportunities for saltwater fishing. Deep-sea fishing is also popular in South America, particularly off the coast of Brazil, Argentina, and Chile. In addition to that, many fly fishing enthusiasts in South America are committed to sustainable fishing practices and prioritize catch-and-release fishing to protect the region's fish populations and aquatic ecosystems. Fly fishing is growing in popularity in South America, particularly in Argentina and Chile. The popularity of fly fishing in South America has led to significant investment in the region's tourism infrastructure, with many lodges, outfitters, and tour operators catering specifically to fly fishing enthusiasts.

Based on the sales channel, the market is segmented into online and offline. Among them, offline segment is projected to attain market size of over USD 1.1 Billion by 2028. Many fishing equipment retailers in South America operate physical stores where customers can browse and purchase fishing equipment. These stores may be specialized fishing shops or general outdoor and sporting goods stores. Distributors and wholesalers may purchase fishing equipment in bulk from manufacturers and sell it to retailers, helping to ensure a steady supply of products in the market. Fishing lodges and outfitters in South America may sell or rent fishing equipment to visitors, either as part of a package or on an individual basis. Brick-and-mortar stores and online retailers offer convenience and choice, while direct sales from manufacturers may provide a more personalized experience. Online retail has become increasingly popular for fishing equipment sales in South America, particularly in countries like Brazil and Argentina, where e-commerce is a growing industry. Some of the online platforms available for the South America fishing equipment market include MercadoLibre, Amazon, Decathlon, Fish TV and Pesca Argentina etc.

Companies Mentioned in this Report:
Globeride Inc, Pure Fishing, Inc, Sea Master Enterprise Co., Ltd, Okuma Fishing Tackle Co., Ltd, Shimano Inc, Rapala VMC Corporation, St. Croix Rods, Taylor Fly Fishing, LLC

Considered in this report
• Geography: South America
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• South America Fishing Equipment market with its value and forecast along with its segments
• Country-wise Welding Equipment & Consumables market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:
• Brazil
• Argentina
• Colombia

By Product type:
• Hooks
• Lines
• Sinkers & floats
• Rods
• Reels
• Nets & Traps
• Spears& Gaffs
• Baits & Lures
• Others (Fishing Stopper, Swivel Fishing Line, Fishing Snap, etc.)

By Nature Type:
• Fresh water
• Salt water
• Fly fishing

By Distribution Channel:
• Online
• Offline

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Fishing Equipment industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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