The lucrativeness of online channels is becoming increasingly palpable in the fishing hooks market, as a traditionally brick-and-mortar marketplace is being swept by waves of digitalization. A new Fact.MR study projects online sales to grow at the highest rate through 2028; however, the growth won’t be enough to offset preeminence of general sporting goods stores as the largest and most preferred sales channel.
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The study envisages the fishing hooks market to exhibit a sluggish 2.0% CAGR during the period of forecast 2018 to 2028. Manufacturers of fishing hooks have developed a wide range of requirement-specific products. Circle hooks have been foreseen to maintain their preeminence in the fishing hooks market, complemented by a steady demand for double & treble hook and J hook. Circle hook sales are likely to grow twice as fast as sales of latter variants.