The global fishing net market size is expected to gain momentum owing to the increasing demand for fishing tools during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Fishing Net Market, 2022-2029.” The market is growing as more technically advanced products are used by fishermen. Fisheries have recently embraced modern technologies to carry out their operations. Developments in fuel consumption, such as turbo engines, mechanical hauling machinery, improved navigation systems, and fish-finding devices, have had a significant impact on the efficiency and productivity of nets.
Detrimental Impact of Covid-19 on Fishing Industry
The COVID-19 pandemic is an unprecedented blow to the business and healthcare system. The disruption of agricultural goods production and consumption chains, including as fish and fisheries products, resulting from the extended stateside shutdown will directly impact people involved in the sector. Domestic fishing industry, transport, and advertising, marine catch fisheries, seed supply, and seafood export are all examples of the diverse influence. This working paper aims to present the multidirectional economic repercussions of the pandemic on the fisheries industry and a series of policy recommendations for mitigating the shock.
By type, the market is segmented into gill net, cast net, and others. On the basis of distribution channels, the market is segregated into offline and online. On the basis of end-user, the market is divided into commercial and household. Finally, by geography, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East Africa.
What does the Report Offer?
The report then forecasts market growth patterns for the industry. It also carried out an analysis of upstream raw materials, downstream demand, and current market dynamics. Before assessing its feasibility, the paper concludes with some key recommendations for a new initiative in the industry. Overall, the report offers a comprehensive analysis of the global fishing nets industry.
High Use of Advanced Material Fiber to Stimulate Growth
During the projected period, the worldwide fishing net market growth is expected to grow due to the growing industry. Following the advent of contemporary net fibers, technology has advanced significantly. Previously, netting was made by hand, which was tedious and time-consuming. Machine-made nettings have become virtually completely employed for construction in recent years, resulting in a beneficial impact on the market for fishing net fibers. Innovative materials with higher tensile strength, such as the Dyneema brand of Ultra-High Molecular Weight Polyethylene (UHMWPE), which is more robust, have just been launched into the international market, which is expected to grow.
Presence of Marine Animals to promote Growth in Asia Pacific
Asia Pacific is expected to hold the largest global fishing net market share during the forecast period. Asia Pacific is expected to be a big fish eater. However, the worldwide market may be hampered by a rising number of restrictions aimed at helping to protect endangered sea animals around the world. Furthermore, the use of reusable plastic in manufacturing could have a substantial effect on the market.
North America is expected to have a sizable share of the market. The increasing awareness regarding the benefits of fish is predicted to drive the market. The presence of prominent players will ease the product availability and will boost sales.
Manufacturers Focus on RD Investments to Offer Advanced Products
Due to the presence of various local producers, the worldwide market is highly fragmented. Furthermore, raw material costs for fishing nets have fluctuated in both emerging and developed nations. Increasing overfishing rules and anti-dumping charges function as an oppressive element in the market.
- May 2019: BUBBA, a company based in South America, has announced the launch of their BUBBA fishing net. It is expected to assist the company in moving into a premium and highly dependable fishing product range, and it is widely available on the internet.
List of Key Players Profiled in the Global Market for Fishing Net:
- Nitto Seimo
- Viet AU ltd.
- Magnum Polymers Pvt Ltd
- Taizhou Winstrong Special Net Co. Ltd
- Brunsonnet and Supply Inc.
- Siang May
- Memphis net and Twine
- Miller Net Company Inc.
- Naguara Net Co. Inc.