U. S. and Global Fishing Nets Market size to Reach USD 2,017.7 Million by 2028; Rising Aquatic Industry Coupled with Increasing Demand for Fish and Fish Products is Booming the Growth of Fishing Nets Market, States Vantage Market Research
Vantage Market Research
7 min read
WASHINGTON, Nov. 29, 2021 (GLOBE NEWSWIRE) -- The growing fishing industry and the demand in fish and fish products are expected to generate revenue for fishing nets market. To catch other marine animals such as prawns, crabs, lobsters, and many others fishing nets are required. According to the State of World Fisheries and Aquaculture, the world aquatic production increased from 72.6 billion tons in 2014 to 91.4 million tons in 2016. The global fishing nets production increased form 272.7 Kilo tons in 2020 and expected to reach 296.5 Kilo tons in 2028, states Vantage Market Research, in a report, titled “Fishing Nets Market, By Type (Purse Seine, Cast Net, Trawl Net, Grill Net, and Others), End-User (Commercial, and Residential), Distribution Channel (Offline, and Online): Global Market Assessment, 2021 - 2028” The market size stood at USD 1,497.6 Million in 2020. The global fishing nets market size is expected to reach USD 2,017.7 million by 2028, exhibiting a CAGR of 12.2% during the forecast period.
The COVID-19 outbreak has affected various industries worldwide. The pandemic has affected most countries in the world, with severe impacts on the global economy and the food production and distribution sector, including fisheries and aquaculture. The fishing nets market also had a huge impact. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy impairing various industries. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data- points:
Impact Assessment of COVID-19 Pandemic
Key Strategies Undertaken by Companies to Tackle COVID-19
Expanding Fishing Industry and Demand for Fish and Fish Products is Increasing the Scope for Fishing Nets Market
Fishing nets are materials made of twine, cord, or similar material that is used for fishing fish or other sea animals. These nets come in various shapes and sizes. Majorly fishing nets fishing nets are made from nylon due to its advantages of strength and durability over other materials. These meshes are manufactures by process called as knotting which is relatively thin thread meshing. Previously, fishing nets were made from materials such as flaxes, grass, wool, and silk, while modern fishing nets are made from artificial polyamides such as nylon.
Additionally, the manufacturers of fishing nets could be focusing more on using materials which could be re-used once they are damaged, for implementing higher cost-effectiveness. Across the globe majority of people are dependent of fishing business. The demand for fishing nets is increasing rapidly and hence in coming years the due to demand for fishing nets the fishing nets market is expected to grow.
Regional Analysis:
Increasing Growth of Fishing Nets Market in Asia Pacific
Asia Pacific is anticipated to grow at a highest CAGR of 13.5% in the projected period. This region is expected to generate s revenue of USD 932.2 Million in 2028. This is attributed sue to presence of number of fishing nets manufacturers, rising industrial and urban infrastructure. Countries such as India and China have huge potential for production of fishing nets manufacturing source due to increasing population and presence of longer coastlines. North America, Middle East and Africa, and Europe also are growing in fishing nets market but due to stringent regulations imposed by government bodies, dependency on imports and preserving certain species of sea animals the growth is expected to slow down in coming years.
List of Prominent Players in the Fishing Nets Market:
Sr. No.
Companies
LOCATION
1.
Miller Net Company Inc.
Memphis, Tennessee, United States
2.
Siang May
Singapore
3.
Magnum polymers Pvt. ltd
Mumbai, India
4.
Brunsonnet and Supply Inc.
Foley, AL, United States
5.
Memphis Net and Twine
United States
6.
Viet AU ltd.
Vietnam
7.
Naguara Net Co. Inc.
Japan
8.
Nitto Seimo
Japan
9.
SNC
Montreal, Canada
Recent Developments in the Industry:
In August, 2021, In FY21, one of the most challenging years across industries, Garware Technical Fibres stood out for its performance, posting its highest ever annual revenues.
In August 2020, Teijin Limited and Kinoshita Fishing Net Mfg. Co., Ltd. jointly announced that they have developed the world’s first high-performance knotless fishing net made with an ultra-high molecular weight polyethylene (UHMWPE) film. Kinoshita Fishing Net will begin selling MX-4 made with Teijin’s Endumax® fishing nets for purse seine net fishing and later for traps, fish farms and trawling.
This market titled “Fishing Nets Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Report Coverage
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
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