Dallas, Texas, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Market experts and latest studies anticipate that the global fish finders market revenue may reach $879.1 million and grow at an annualized rate of 6.7% during the forecast period 2022 through 2031.
Fisheries play an important role in the socioeconomic. The contribution of the sector to the national global fish finders economy is gradually increasing. Fisheries contributed majorly to the national gross domestic product (GDP) and agricultural GDP of many countries involved in fishery. The importance of fisheries in national food security is encouraging; it provides 60 percent of animal protein to their diet and 12 percent of the total population of the country directly or indirectly depend on the fisheries sector for their livelihood. Growth performance of fish production during the last five years is driving the global fish finders market.
The use of ultrasonic echoes has resulted in improvements in fishing gear and method. Fishing gear have been greatly improved the extent of raising catching efficiency.
Increase in fish production, technical improvements are contributing to freshness, fish price stabilization, rapid development in synthetic fibre industry for fishing nets is driving the global fish finder market.
Also, introduction of ready-to-cook, ready-to-eat and other value-added fisheries products for the local and export markets, newly faced by the government and the players along the value chains are other factors driving the global fish finders market.
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Global Fish Finders Market Scope:
| Metrics | Details |
| Study Period | 2019-2031 |
| Market Size in 2031 | USD 879.1 million |
| Segment Covered | by Equipment Type, by Application, by Product Type, BY Region, |
| by Equipment Type Covered | Fixed, Portable |
| by Application Covered | Recreational Fishing, Commercial Fishing, Professional Fishing, Others |
| by Product Type | Standalone, Combined, Networked System |
| Regions Covered | North America, Europe, Asia Pacific, Middle East, and Africa and South America |
| Key Players Profiled | NorCross Marine Products Inc, Garmin Ltd.,Hule, Furuno Electric Co., Ltd., Humminbird Fishing Electronics & Mapping, NAVICO,Johnson Outdoors Inc., Deeper,FLIR Systems, and Samyung ENC among others. |
Capture fisheries output is anticipated to decline. These forecasted declines will be brought about by the cumulative impacts of restrictions, which will result in the continued closure of enterprises, operational issues in the business, a fall in demand for seafood, reduced purchasing power of the people, delayed stocking and harvesting and expensive logistics in the supply chain hampering the global fish finders market.
While the pandemic’s challenges remain present, in terms of the health concerns of individuals, households and communities, the pandemic also brought about restrictions and lockdowns that greatly impacted small-scale fisheries and aquaculture operators across countries are restraining the global fish finders market.
Among the most traded food commodities in the world (and regional) markets, seafood comprises a diverse range of species, as well as production and distribution methods and accounts for a significant 17 percent of the world protein intake. However, the trade was disrupted following flight cancellations, travel bans, national lockdowns and strict protocols and measures in the logistics. With restrictions implemented at the international and local levels, food supply chains were significantly affected and food-system vulnerabilities
The reduction in availability of fish for processing and trade, lack of storage facilities and restrictions in transportation are attributed to this disproportion of fish finders market.
At the same time, preventive measures taken to contain the mass spread of the COVID-19 pandemic impacted small-scale fishers, aquaculture operators and fisheries-based business operators collectively influenced the global fish finders market.
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However, despite the global negative impacts of COVID-19, the fisheries sector was able to take advantage of the crisis to adapt and innovate. The pandemic enabled the development of various innovative strategies in the smallscale fisheries sector. Examples include the use of information and communication technologies such as intensified use of mobile phones and social media to connect with consumers and shorten the supply chain, selling and delivering directly to consumers, the revival of local food networks, collaborations between communities and governments and reduced fishing pressure in some areas
Small-scale fishers, aquaculture operators and fisheries-based business operators coped with the impacts of the pandemic and survived through various approaches. Also, availability of government support as well as the inventiveness remained the key growth forces.
The global fish finders market is broadly divided into three sub-groups, i.e. inland culture, inland capture and offshore fishing, and Coastal fishing. Inland culture fishery includes mainly pond and ditch, ox-bow lake (baor), shrimp and prawn farm, seasonal cultured waterbody, pen and cage culture, etc. covering an area of about 0.84 million hectares and produces 2.58 million tonnes accounting for about 58 percent of the total fish production in 2019–2020. The overall growth performance from inland aquaculture showed a moderate increasing trend
Global fish finders market plays an important role in the APAC countries contributing significantly to revenue share. Many APAC countries depend upon fish as an integral part of their diet as termed major protein source, vitamins and other important micronutrients. APAC countries are among the highest fish consumers in the world. Increase of local consumption due to population growth, increasing demand in the domestic market and growing access to international markets, initiatives by the fisheries administration to support small-scale fishers to generate additional household income and focusing on foreign exchange generation.
Important Points from Table of Contents:
1. Introduction
2. Research Methodology
3. Market Outlook
4. Fish FInders Market by Equipment Type, 2019-2029 (USD Million)
4.1. Fixed
4.2. Portable
5. Fish FInders Market by Application, 2019-2029 (USD Million)
5.1. Recreational Fishing
5.2. Commercial Fishing
5.3. Professional Fishing
5.4. Others
6. Fish Finders Market by Product Type, 2019-2029 (USD Million)
6.1. Standalone
6.2. Combined
6.3. Networked System
7. Fish FInders Market by Region, 2019-2029 (USD Million)
7.1. North America
7.1.1. US
7.1.2. Canada
7.2. Europe
7.2.1. UK
7.2.2. Germany
7.2.3. France
7.2.4. Rest of Europe
7.3. Asia Pacific
7.3.1. China
7.3.2. Japan
7.3.3. India
7.3.4. Rest of Asia Pacific
7.4. South America
7.4.1. Brazil
7.4.2. Mexico
7.4.3. Rest of South America
7.5. Middle East & Africa
8. Competitive Landscape
9. Company Profiles
10. Appendix
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