Fishing Waders Market
Fishing Waders Market (Product Type: Chest Waders, Hip Waders, and Waist Waders; Style: Boot Foot Waders and Stocking Foot Waders; Material: Nylon, Polyester, Neoprene, Rubber, and Others; Size: Small, Medium, and Large; End User: Men, Women, and Children; and Distribution Channel: Online [e-Commerce Websites and Company-owned Websites] and Offline [Hypermarket & Departmental Stores, Specialty Stores, Chain & Franchise Stores, and Others]) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
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Growing Government Support and Rise in Number of Fishing Hobbyists to Propel Market
The global fish production has witnessed consistent growth in the past two to three decades, as new fishing technologies and techniques enter the fray. Global fish production is projected to rise in the near future even though the quantity of fishes that are being captured in the wild are declining as per the United Nation’s Food and Agriculture Organization (FAO). At present, fishing and aquaculture industries in fishing intensive countries, including China, Chile, Peru, Japan, and India are growing at an impressive pace due to government initiatives and programs that support the development of these industries. While the fishing industry is on the course to witness considerable growth during the forecast period, with it the demand for fish waders is also expected to experience a steady growth within the same timeframe.
At present, manufacturers operating in the fishing waders market are expected to focus on enhancing the comfort levels of their products and roll out advanced fish waders that augment the overall fishing experience. The growth of the fishing waders market is projected to rely on a host of factors, including the rise in the number of fishing hobbyists, growing consumer appetite for an improved fishing experience, the advent of new materials, and availability of cost-efficient fishing waders across online and offline sales channels. At the back of these factors, the global fishing waders market is expected to attain a market value of ~US$ 2 Bn by the end of 2030.
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Demand for Breathable Fish Waders Higher than Neoprene Fish Waders, Nylon and Polyester Remain Popular
Technological advancements and progress in the fishing textile sector have paved the way for fish waders made from different types of materials. The demand for different types of fish waders largely depends on several factors such as climate, temperature, type of activity, season, etc. Neoprene fish waders are extensively used for duck and goose hunting activities and due to exceptional insulation of the material, the demand for neoprene fish waders is relatively higher during winters than other seasons. The exceptional insulation coupled with superior durability is a leading factor that is likely to drive the sales of neoprene fish waders in the upcoming years.
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While the demand for neoprene fish waders is on the rise, the demand for breathable waders is expected to remain higher than that of neoprene waders during the forecast period. As breathable waders that are made from polyester and nylon do not hinder the motion of the user, the demand is likely to move in the upward trajectory in the forthcoming years. Although nylon and polyester are projected to remain the most prominent types of materials within the fishing waders market, the choice of the wader primarily depends on several external factors.
Online Sales on Rise as Brands Focus on Expanding Product Portfolio to Gain Advantage
The booming e-Commerce sector has emerged as an ideal distribution channel for participants operating in the current fishing waders market. While offline distribution channels are likely to garner more revenue, sales via online distribution channels are anticipated to grow at an impressive pace over the upcoming years. Several brands operating within the fishing waders market are focusing on expanding their product portfolio by launching new products to gain an advantage in the fairly consolidated market. For instance, in October 2019, Patagonia announced the launch of a new line of waders that were primarily designed bearing in mind user convenience. Moreover, in January 2019, Simms Fishing Product, one of the prominent manufacturers of fish waders announced the launch of new spring 2020 products, including fish waders, hoodies, and jackets.
Product Diversification to Remain Key amid COVID-19 Pandemic, Sales Likely to Decline in 2020
The onset of the novel COVID-19 pandemic is expected to have a medium impact on the growth of the fishing waders market. While the demand from hobbyists is expected to decline due to lockdowns and social distancing norms, demand from the fishing sector, particularly in developed nations such as Norway, Australia, Japan, the U.S., Canada, etc., are likely to remain steady. The COVID-19 pandemic has led to a host of supply chain bottlenecks, as governments across the world continue to impose trade restrictions on non-essential goods and services and lack of personnel within the logistics sector, among others.
As sales of fishing waders are likely to decline in 2020, market players should focus on product diversification and long-term growth strategies to gain ground in the post-COVID-19 era. Several fishing wader companies are currently switching to the production of personal protection equipment to bridge the gap between demand and supply. For instance, Simms Fishing Products commenced the production of medical gowns in response to the shortage of PPE equipment across the U.S.
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The global fishing waders market is expected to witness steady growth during the forecast period. The market growth primarily depends on factors, including soaring demand for fishing waders from the fishing hobbyists, growth of the fishing & aquaculture sector, technological advancements, and entry of fishing waders with optimal designs. Market players should focus on launching new products to gain an advantage in the consolidated market landscape and focus on listing their products on online distribution channels. Amid the COVID-19 pandemic, market players should focus on product diversification and try to rope in efforts to manufacture medical gowns and other forms of personal protective equipment.
Fishing Waders Market: Overview
- Fishing wader is a waterproof outdoor clothing that covers the human body from chest to foot. Waders function like waterproof boots and shoes, but with greater benefits such as providing a waterproof layer from the chest to the foot. Rapid growth in the number of people who depend on fish and fish related products for a livelihood, along with adoption of fishing waders is expected to boost the market.
- Different types of fishing waders are used for fishing or angling. The fishing waders also come in different styles such as boot foot waders and stocking foot waders.
Fishing Waders Market: Regional Overview
- Asia Pacific dominates the current global fishing waders market and is expected to continue its dominance in terms of both revenue generation and CAGR. China is the dominant fishing wader producer globally and rise in demand for fishing waders at a cheaper price, which remains the preferred choice among Chinese consumers, is further likely to fuel the market. Furthermore, strong product innovation among manufacturers with new designs and quality material that enable lightweight and durable waders are expected to boost the market during the forecast period.
Fishing Waders Market: Market Trends
- As per the Food and Agriculture Organization (FAO), around 12% of women were involved in the fishing industry or in fishing. This number has been rising consistently with a ~167% rise in the last two decades and increasing every year. Women also play a significant and critical role in small-scale fisheries.
- Currently, the demand for fishing waders and related products for women is rising and women are sourcing various options through online channels and multi-brand retail outlets. This is anticipated to accelerate the fishing waders market over the next few years.
Fishing Waders Market: Drivers and Opportunities
- Increasing demand for eco-friendly and improved materials is anticipated to boost the fishing waders market during the forecast period. Several players are investing in research & development to manufacture high quality products and procure environment-friendly raw materials, which is expected to drive the fishing waders market in the coming years.
- Distribution channels, such as e-Commerce, have become an easier option to cater to the demand from consumers. Presently, consumers can avail various options to choose different types of fishing waders through e-Commerce platforms or company-owned websites. This is also projected to create new opportunities for the fishing waders market globally during the forecast period.
Fishing Waders Market: Key Segments
- The global fishing waders market has been segmented based on product type, style, material, size, end user, distribution channel, and region
- In terms of product type, the global fishing waders market has been divided into chest waders, hip waders, and waist waders
- Based on style, the market has been classified into boot foot waders and stocking foot waders
- Based on material, the market has been classified into nylon, polyester, neoprene, rubber, and others (gore-tex, etc.)
- Based on size, the global fishing waders market has been divided into small, medium, and large
- In terms of end user, the market has been segregated into men, women, and children
- Based on distribution channel, the fishing waders market has been split into online and offline. The online channel is further divided into e-Commerce websites and company-owned websites. The offline channel is sub-segmented into hypermarket & departmental stores, specialty stores, chain & franchise stores, and other (variety stores).
- In terms of region, the global fishing waders market has been divided into North America (U.S., Canada, and Rest of North America), Europe (U.K., France, Germany, and Rest of Europe), Asia Pacific (China, Japan, India, and Rest of Asia Pacific), Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa), and South America (Brazil and Rest of South America)
Fishing Waders Market: Competition Landscape
- The global fishing waders market is consolidated with the presence of established players. Companies are investing in product innovation to increase their customer base. Furthermore, large number of manufacturers are engaging with local manufacturers and distributors to increase their presence and reach in different parts of the globe.
- Some of the key players operating in the fishing waders market are
- Cabela's LLC
- Columbia Sportswear Company
- Caddis Waders
- Pure Fishing, Inc.
- Gator Waders, LLC.
- Pacific Eagle Enterprise Co., Ltd
- Simms Fishing Products
- Patagonia, Inc.
- The Orvis Company Inc.
Fishing Waders Market – Scope of the Report
Transparency Market Research’s recent report on the fishing waders market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the fishing waders market analyzes the scenario for the period 2020 - 2030, wherein 2019 is the base year and 2018 is historical data. The report enables readers to make important decisions with regard to their business, through a wealth of information enclosed in the study.
This TMR study on the fishing waders market provides data on the developments undertaken by important players and stakeholders in the market, along with a competitive analysis. The report also provides an understanding of strengths, weaknesses, threats, and opportunities, along with trends and restraints in the landscape. Presented in a clear sanctioned manner, the report on the global fishing waders market gives readers an individual understanding of the market.
The study discusses the underlying trends and impact of various factors that drive the global fishing waders market, along with their influence on the evolution of the market.
The study also offers Porter’s Five Force Analysis, value chain analysis, key trend analysis, SWOT analysis, COVID-19 impact analysis, climate change impact, raw material analysis, and consumer buying behavior of the global fishing waders market in order to highlight the crucial growth tactics and opportunities for market players.
Key Questions Answered in This Report on Fishing Waders Market
- How much revenue will the fishing waders market generate by the end of the forecast period?
- What application of fishing waders is likely to gain the maximum market share by 2030?
- What regions currently contribute the maximum share to the overall fishing waders market?
- What are the indicators expected to drive the global fishing waders market?
- Which region is likely to be a lucrative market during the forecast period?
- What are the essential strategies incorporated by key stakeholders in the global fishing waders market to expand their geographical presence?
- What are the major advancements witnessed in the global fishing waders market?
The report answers these questions and more about the global fishing waders market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.
Fishing Waders Market – Research Methodology
The TMR report on the global fishing waders market is based on a complete and comprehensive evaluation of the market backed by secondary and primary sources. The competitive scenario of the global fishing waders market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the global fishing waders market arrive at predictions and estimations, and calculate the forecast for the market.
The report uses an analytical triangulation method to estimate the numbers and figures of the global fishing waders market with both bottom-up and top-down approaches.
The detailed assessment of the global fishing waders market, along with an overview of the landscape is provided based on a careful examination of the avenues related to this market. Analysts’ conclusions on how the global fishing waders market is set to grow are based on carefully vetted primary and secondary sources.
- In this chapter, the report offers a dashboard view of the competition matrix of leading players in the global fishing waders market, along with structural analysis
- The report includes the below mentioned pointers of major players operating in the fishing waders market :
- Company Overview
- Product Profiling
- Product Innovation
- Business Strategies/Recent Developments
- Technological Advancements
- Key Mergers & Acquisitions
- Expansion Strategies
- Company Financials
Fishing Waders Market – Segmentation
The report on the global fishing waders market provides information on the basis of product type, style, material, size, end user, distribution channel, and region.