Fishing Net Market Report

COVID-19 Impact Analysis on Global Fishing Net Market 

COVID19 is an unparalleled global public health emergency affecting almost every industry, and long-term impacts are expected to impact industry growth during the forecast period. The COVID-19 pandemic has certainly affected the global fishing net market due to disruption in the global supply chain across the globe. As the pandemic has majorly caused the shutdown of manufacturing, as well as the number of applications stopped working for days due to strict lockdown regulations. Besides, the market has certainly witnessed losses due to declining sales and distribution. However, the demand for the market was observed by end-users post pandemic, which has specifically led to the rise in growth of the market. Also, an increase in the adoption of online platforms is expected to boost market growth.

Market Overview- Global Fishing Net Market

Market Driver

The expansion of the fishing industry and rising demand for fish is a major factor in boosting the global fishing net market. Fishing nets are available in various shapes and sizes. Aquaculture is the world’s fastest-growing food production system and its production has increased. The increasing popularity of seafood and rapidly gaining importance fishing activities are expected to boost the fish net market growth. Also, increasing demand for seafood and increasing demand for fish oil due to its various health benefits is a one of the major factor fuel the fish net market. Furthermore, the increasing demand for nylon-based fishing net due to its technical advantages over other materials such as physical strength, resistance to oil and other chemicals, low absorption of moisture and longer lifespan is impacted positively on market growth.

Market Restraint

Increasing regulations to help preserve sea-animals around the globe hinders the global fishing net market. Adding to that, using re-usable plastic for manufacturing fishing nets as it helps in reducing the ocean waste caused by fishing nets is another factor hampering the fishing net's market growth.. 

Market Opportunity

Increasing research and development activity to develop degradable fishing net’s which will protect the marine ecosystem. 

Market Growth Challenges

Increasing number of regulation to preserve marine animals around the globe hinder the global fishing net market growth.

Cumulative Growth Analysis

The report provides in-depth analysis of the global fishing net market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. An increase demand for seafood as growing importance of fish oil in across the globe which boost the fish net market. It is expected to witness a growth at a specific CAGR from 2022-2028.

Market Segmental Overview

The global fish net market comprises of different market segment like net type, distribution channel, end-user and geography. 

Fishing Net Market by Net Type

The net types studied in the global fish net market are gill net, cat net, hoop net & others. The gill net segment accounts for the largest share in the fishing net market. The Gillnet is used by fishermen throughout the world to catch various species of fish and scientists also use it as a sampling tool to assess fish population. It is an all-like structure of net and it is available in a variety of mesh sizes. The gill net stricture allows the head of the fish to enter the mesh and prevents the fish from escaping. A gill net is made of monofilament or multifilament nylon. Gill nets are used widely in the coastal fisheries of the world due to their low cost and versatility.   Gill nets are made from fine strings so they are almost invisible to the fish as, target marine animals are unaware of their presence, so they can easily be trapped by the meshes. Due to the easy application of gill net, increased demand for fishing.  

Fishing Net Market by Distribution Channel

Fishing nets are distributed by various channels,such as offline channels and online channels. The offline channel segment accounts for the largest share in the fishing net market. The increasing consumer dependency on the various facilities offered by fishing net stored such as wider product range, freedom of selection and discount offers is expected to increase the offline distribution channel.

Fishing Net Market by End-User

The end-users studied in the global fish net market are commercial and individual. The commercial segment accounts for the largest share in the global fishing net market. In 2021, the commercial segment held 79.51 percent, therefore dominating the fishing net market. The increasing demand for seafood coupled with the increasing selection of fishing as a major source of disposable income is driving the commercial use of the fishing net.  Additionally, an increasing number of commercial fisheries in the world are a major source of income. For instance, according to the Food and Agriculture Organization, approximately 59.5 million people were engaged in the primary sector of fisheries and aquaculture. About 39.0 million people were employed in fisheries.   Moreover, a growing population and increasing demand for seafood boost the use of fishing nets in the commercial sector.

Fishing Net Market by Geography

The global fishing net market is studied for the following regions: North America, Europe, Asia-Pacific and Rest of the world (RoW). Asia-pacific is likely to witness a rising demand for fishing nets across the country. Growing popularity due to the presence of an eclectic variety of fish and other marine animals. Due to increasing economies in developing countries like India, China and Japan, it boosts the market growth. India and China are major producers as well as consumers of aquaculture in the region. For instance, in 2018, the total fisheries production of India was 13.7 million metric tons, which constitutes approx. 6.5 % of global fish production. Besides, increasing demand for fish and aquaculture from the pharmaceutical industry for various medical purposes. Furthermore, the rising popularity of fishing as a recreational activity is also supporting the growth of the fishing net market in the Asia-Pacific region.

Competitive Landscape Analysis

The competitive landscape analysis of the fishing net market is certainly based on a range of market players operating in the packaging industry with a rise in income and increased demand for innovative and strong fishing net. Besides, a number of market players offered a wide range of products for different applications in various geographic locations. The market has major competitive analysis based on new product launches as well as other developments.

The key players studied in market are Amco Polymers, BASF SE, Advan Six Inc., TORAY INDUSTRIES, Inc., Royal DSM N.V., Indorama Ventures, Naguara Net Co, Inc, Nitto Seimo, SNC, Formosa Chemicals, Fiber Corporation, Teijin Limited, Garware Wall Ropes., Miller Net company Inc, Siang May, Magnum Polymers Pvt ltd, Brunsonnet and supply Inc, Memphis Net and Twine, Viet AU ltd And among others.