Advanced Fabric Technologies to Boost Demand of Neoprene-based Fishing Waders – Fact.MR Study

The demand for Neoprene-based Fishing Waders is now dominated by Asia Pacific, followed by North America. This is owing to China’s dominance as a fishing wader manufacturer, which meets consumer demand for Neoprene-based Fishing Waders at reasonable prices. The burgeoning e-Commerce sector, which has a market value of US$ 4.6 billion and is likely to develop even more in the future years, is the most dominant distribution channel.

Neoprene Neoprene-based Fishing Waders are the most popular, accounting for 34% of the market in 2020, and are expected to continue on this path in the future. Manufacturers’ relatively high R&D spending on product innovation for innovative designs and high-quality materials that enable lightweight and durable waders is projected to drive market expansion.

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Fact.MR’s recently published report on fishing waders forecasts the market to exhibit positive trends, registering a CAGR worth 7.3% across the 2021-2031 assessment period. By the end of the aforementioned decade, the industry is slated to reach US$ 2 Bn in value terms. Increased frequency of recreational fishing will principally drive future market demand.

From 2016 to 2020, the market registered steady growth, expanding at a CAGR of nearly 5%. Prospects temporarily dwindled during the COVID-19 pandemic, attributed to curbs on outdoor recreational activities. This was eventually offset, as plateauing infection curves permitted a resumption of such activities, particularly since Q4 2020.

In the future, it is expected that global demand for fish and other marine products is likely to rise. The State of World Fisheries and Aquaculture report published by the Food & Agriculture Organization claims that global fish production reached nearly 179 million tons in 2018. This number is anticipated to rise to 200 million tons by 2029, increasing by 25 million tons, or 14%, from the 2017-19 base period. Hence, demand for fishing waders to undertake fishing operations is bound to increase.

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Neoprene-based Fishing Waders Market: Key Takeaways

  • By 2031, the Neoprene-based Fishing Waders market is expected to grow by around 2X in value.
  • During the forecast period, the market is expected to increase due to rising demand for eco-friendly and better materials.
  • Men’s Neoprene-based Fishing Waders have been the fastest-growing segment among end users, with a 4.5 percent annual growth rate.
  • In 2021, Asia Pacific is predicted to have the highest market revenue, with a 14 BPS increase by 2031.
  • The market for ‘large size’ Neoprene-based Fishing Waders is the most dominating, accounting for the highest market share in 2020 and predicted to grow at a CAGR of roughly 6% through 2031.
  • During the projection period, the e-Commerce distribution channel is expected to have the greatest CAGR of over 6%.
  • Demand for Neoprene-based Fishing Waders was impacted in 2020 as a result of the COVID-19 issue, and it is expected to follow the same market pattern for a short time.

Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions to expand their market ground.

  • In April 2020Great American Outdoors Group, the parent company of Bass Pro, partnered with Cabela’s to acquire Utah-based Sportsman’s Warehouse. The Great American Outdoors Group will remain a private company. Sportsman’s Warehouse was acquired for $18.00 per share in cash.
  • With an updated fit for enhanced mobility and proven 4MOST® DRY-PLUS™ waterproof technology, Cabela’s® has developed the Premium Breathable Stocking-Foot Fishing Waders for Men which offers great performance at an affordable price. Made of a super-tough, tightly woven micro denier nylon, these waders’ protective upper features triple-layered knees for maximized protection from abrasion and punctures.

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Key Segments Covered

  • Product
    • Chest Fishing Waders
    • Hip Fishing Waders
    • Waist Fishing Waders
    • Breathable Fishing Waders
  • Style
    • Boot Foot Fishing Waders
    • Stocking Foot Fishing Waders
  • Material
    • Nylon Fishing Waders
    • Polyester Fishing Waders
    • Neoprene Fishing Waders
    • Rubber Fishing Waders
    • Others (Gore-Tex, etc.)
  • Size
    • Small Fishing Waders
    • Medium Fishing Waders
    • Large Fishing Waders
  • End User
    • Fishing Waders for Men
    • Fishing Waders for Women
    • Fishing Waders for Children
  • Distribution Channel
    • Online
      • E-commerce Websites
      • Company Owned Websites
    • Offline
      • Hypermarkets & Departmental Stores
      • Specialty Stores
      • Chain & Franchise Stores

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