[Research Report] 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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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.

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.

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.

Fishing Footwear Market Report Scope

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.