Market Forecast By Product Type (Depthway, Lengthway), By End User (Individual Application, Commercial Application) And Competitive Landscape
Product Code: ETC433894 | Publication Date: Dec 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
Turkey Nylon Knotted Fishing Net Market is projected to grow at highest CAGR during the forecast period The market is being driven by the increasing adoption of netting technology in seafood industries and increasing investments in modern fishing nets. In general, nylon knotted fishing nets are broadly used for harvesting various aquatic species, such as shrimp, lobster, and crab. Additionally, these are also used for land-based activities such as crop protection and hunting. However, environmental concerns and government regulations are expected to hamper the Turkey Nylon Knotted Fishing Net Market Growth in the years to come.
According to 6Wresearch, Turkey Nylon Knotted Fishing Net Market is expected to grow during 2022-2028. The rising demand for sustainable seafood, growing demand for recreational activities, increasing demand for fishing nets from both domestic and international consumers, increasing awareness about the importance of fishing practices, and growing preference for healthy foods are some of the key factors propelling the growth of this market. The increasing commercial catches of seafood and increasing investments in new fishing nets, and increasing popularity of seafood among consumers is forecast to drive the demand for nylon knotted fishing nets. Additionally, technological advancements are also contributing to the growth of the Turkey Nylon Knotted Fishing Net Industry. However, the environmental concerns and government regulations are projected to impede the growth of the market during the forecast period.
The pandemic has impacted the unfavorably Turkey Nylon Knotted Fishing Net Market. The lockdown measures implemented across the country have led to a decrease in demand for fishing nets as people are unable to go out. Moreover, the negative impact of the pandemic on the economy has led to a decrease in overall purchasing power which had decreased the demand for this market. Restrictions imposed by various countries across the globe has led to a decrease in recreational activities, thereby affecting the sales of fishing equipment including nets. Moreover, the closure of fish markets and restrictions on international trade have also hampered the growth of this market.
On the basis of Product Type, the market is segmented into Depthway and Lengthway. Depthway nets are designed to be used in water that is shallow whereas Lengthway nets are designed for use in deeper water, up to 60 feet deep. The use of fishing nets is merely depended upon the type of fish you are targeting.
The competitive landscape of the Turkey Nylon Knotted Fishing Net Market which is part of Middle East Nylon Knotted Fishing Net Market is highly fragmented with the presence of a large number of small and medium-sized manufacturers. The key players in the market are focused on expanding their product portfolio and geographical reach to gain a competitive edge in the market. In addition, companies are investing in research & development activities to develop innovative products to meet the customer needs.
The report offers a comprehensive study of the subsequent market segments: