Global Fishing, Hunting and Trapping Market to Reach US$581.7 Billion by 2030

The global market for Fishing, Hunting and Trapping estimated at US$482.3 Billion in the year 2023, is expected to reach US$581.7 Billion by 2030, growing at a CAGR of 2.7% over the analysis period 2023-2030. Fishing, one of the segments analyzed in the report, is expected to record a 3.1% CAGR and reach US$336.6 Billion by the end of the analysis period. Growth in the Hunting segment is estimated at 2.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$131.4 Billion While China is Forecast to Grow at 5.4% CAGR

The Fishing, Hunting and Trapping market in the U.S. is estimated at US$131.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$117.3 Billion by the year 2030 trailing a CAGR of 5.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 0.8% and 2.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.4% CAGR.

Global Fishing, Hunting, and Trapping Market - Key Trends & Drivers Summarized

What Constitutes the Fishing, Hunting, and Trapping Sector?

The fishing, hunting, and trapping sector encompasses activities geared towards the capturing and processing of wild fish and game. These practices are critical for food supply, cultural heritage, and economic activity in many communities worldwide. Commercial fishing involves the harvest of fish and seafood from wild fisheries in both inland and marine waters, while hunting and trapping often target game and fur-bearing animals. Sustainability is a significant concern within this sector, with regulatory bodies imposing quotas and seasons to manage wildlife populations responsibly and ensure the long-term viability of these industries.

How Are Sustainability Initiatives Shaping This Sector?

Sustainability efforts are profoundly reshaping the fishing, hunting, and trapping industry. Increased awareness of overfishing, habitat destruction, and species endangerment has led to stricter regulations and the adoption of more sustainable practices. Many operators are now utilizing technology such as GPS and sonar not only to enhance efficiency but also to minimize environmental impacts. Additionally, there is a growing trend towards certifying products as sustainably sourced, which appeals to the environmentally conscious consumer and opens up new market opportunities in premium segments.

What Role Does Technology Play in Modernizing Traditional Practices?

Technological advancements are revolutionizing traditional practices in the fishing, hunting, and trapping sector. Modern equipment and techniques, such as improved fish-finding sonar, environmentally friendly traps, and precision hunting gear, increase the efficiency and selectivity of harvesting efforts. Technology also plays a crucial role in monitoring wildlife populations and habitats, helping to inform regulatory decisions and conservation strategies. These innovations ensure that the sector can continue to thrive economically while maintaining ecological balance.

What Are the Primary Growth Drivers for the Fishing, Hunting, and Trapping Market?

The growth in the fishing, hunting, and trapping market is driven by several factors, including the rising global demand for protein-rich foods and the increasing popularity of outdoor recreational activities. As populations grow and become more affluent, seafood and game meat are increasingly viewed as healthy diet components. Moreover, cultural traditions and the rising interest in sustainable and organic food sources further drive demand for products from this sector. The sector`s growth is also supported by advancements in gear and equipment, which improve yield and reduce wasteful practices. However, it must balance these growth opportunities with the imperative to manage and conserve natural resources effectively.