The global fishing wader market size is expected to reach USD 4.51 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 6.0% from 2021 to 2028. The rising demand for fishing waders from the sporting hobbyists and the growth of the aquaculture sector are expected to boost the market growth. An increase in disposable income and a rise in purchasing power are other factors boosting the market growth. Presently, the aquaculture industry is growing in countries, such as China, Peru, Chile, Japan, and India, owing to government initiatives and various other social programs that support the development of these industries. As the fishing industry is expected to witness steady growth during the forecast period, the demand for these products is also estimated to witness a stable rise.
Fishing wader is considered to be an important accessory globally, thereby fueling the market growth over the forecast period. The major factors responsible for industry growth are increased disposable income in the developing economies and augmented use of fishing waders. Additionally, brand recognition and power are driving the industry. Hence, due to these reasons, the market is anticipated to witness lucrative growth over the forecast period.
The chest product segment captured the largest share of 38.1% in 2020. The presence of leading manufacturing players that provide chest waders to customers is also projected to influence the segment growth in the coming years. Chest wader provides 100% waterproof protection. Chest product forms are also used for various activities, including, camping, riding ATVs, and even playing outside.
North America held the largest share of over 36.0% in 2020 due to the high product demand in the U.S. and Canada. Moreover, the increasing purchasing power of the consumers in this region is driving the market. As North America presents attractive opportunities for the consumer goods sector, the market is projected to witness significant growth over the forecast period.
The report “Fishing Wader Market Size, Share & Trends Analysis Report By Product (Hip, Chest, Waist), By Material (Nylon, Polyester, Neoprene), By Distribution Channel, By Region, And Segment Forecasts, 2021 - 2028” is available now to Million Insights.
Million Insights has segmented the global fishing wader market on the basis of product, material, distribution channel, and region: