The fishing and hunting equipment market in Sri Lanka exhibited steady growth over the past decade, with its value per capita rising from $0.25 in 2013 to $0.43 in 2023. This represents an overall increase of 72% during this period. In 2023, the market saw a year-on-year growth of approximately 2.4% from 2022. Over the last two years, the market expanded by about 4.9%, while the five-year compound annual growth rate (CAGR) stood at 2.5%.
Future trends to watch for include increasing demand driven by tourism and recreational activities, innovations in equipment technology, and potential impacts of environmental regulation. Companies should monitor changes in consumer behavior and sustainability initiatives as these may significantly affect market dynamics.
