Fishing lures make up a global industry. In 2023, the global fishing lures market sales revenue was $3.9 billion. This sector is expected to increase at a compound annual growth rate (CAGR) of 5.50%% from 2023 to 2030. The North America fishing lure market sales revenue was $1.17 billion, with an expected CAGR of 4% to 2030 (North America consists of 23 countries).

The Asian market represents the largest fishing lure market sales revenue in the world, at $1.4 billion, with a CAGR of 6.8% to 2030. China is the largest manufacturer of fishing lures. The U.S. is the second largest in sales. Anglersheadquarters.com lists over 210 global lure manufacturers.

Thomas.net lists 62 fishing lure manufacturers in the U.S. (some make lures for commercial applications). The popularity of recreational fishing is a significant factor in the rise of lure sales revenue. There is a growing demographic in the U.S. who is adding more fish and seafood to their diets.

Innovative Technological Developments Drive the Fishing Lure Market

The fishing lure industry is an ever-growing, ever-evolving market. Manufacturers continually integrate characteristics, physical features, natural patterns, and technology to mimic baitfish species. Leading manufacturers consistantly introduce new products. The most recent developments include electronic/intelligent/smart lures.

Some electronic lures are illegal in some states and banned in fishing tournaments. Anglers look for how much of an opportunity will a specific lure increase their catch rate. Anglers rarely find illegal lures for sale in the U.S. In 2000, New Hampshire became the first state to implement a ban on lead tackle. Only Wyoming has banned fishing with electrical devices.

There is ongoing legislation on federal and state levels involving lead ammunition and fishing tackle. In September, 2022, the U.S. Fish and Wildlife Service issued a final rule which opened new hunting and fishing opportunities, but it also phased out the use of lead ammunition by 2026 on some of its lands.

In 2015, Pressreader.com reported that three anglers in Mexico caught 650 largemouth bass in 25 hours using a flashing lure. That equaled one bass per each angler every seven minutes. Manufacturers face challenges when transitioning from traditional materials to more sustainable alternatives, even with the growing demand for eco-friendly fishing equipment.

Groups demanding eco-friendly fishing equipment exist all over the globe. They call it sustainable fishing and sustainable fishing gear. In 2021, Grist.org reported that Americans are demanding more sustainable seafood, and it is working.

Types of Fishing Lures

There are hundreds of artificial lures. Trying to describe them in categories is confusing, and under a certain type of lure are subtypes. For people who have never fished but are interested in recreational fishing, the following are elementary lure descriptions at best. Anglers like to glom on to a certain type of lure for a specific fish species and/or they love to experiment with new lures.

Crankbait Lures:

Manufacturers design crankbaits to move through the water easily. These are fishing lures that imitate baitfish to trigger a game fish's prey instinct to strike. Crankbaits have a bill or lip on the front that aides them in diving and planing through water. Anglers can control how deep this lure drops by retrieving it. Longer bills help them dive deeper and wiggle side-to-side to elicit bites.

Fly Lures:

Fly lures or artificial flies are made to copy the behavior of aquatic insects, baitfish, crustaceans, etc. Though typically used in fly fishing, anglers use them in other types of fishing. Fly fishing anglers make them by hand by tying furs, feathers, thread, and all kinds of materials, depending on what fish prey they want them to imitate, onto a fish hook. They can look like baitfish, birds, insects, small mammals, vegetation, and worms. Their main purpose is to make fish think they are natural prey. 

Jerkbait Lures

Jerkbaits are also called stickbaits, slashbaits, and minnow baits. Generally, jerkbaits are long, narrow, hard-bodied lures with short bills and two to three treble hooks dangling beneath the bills. They appear like dying baitfish. Jerkbaits are useful lures when fishing in cold water because they can hold and suspend in water columns. Anglers also use them year-round in various conditions. 

Jigs: 

Jigs can entice a range of freshwater species with their natural actions. They have a weighted head and a body that often features feathers or plastic to mimic prey. They vary in weights from light to heavy for topwater fishing and deepwater fishing. They have a hook with some kind of weight, a skirt, a trailer keeper, and/or a weedguard.

Spinner Lures/Baits:

Spinners are made from one or more metal blades that spin like fan blades and entice fish like natural bait under the water’s surface. They generate vibrations fish can sense through their lateral lines. A wire arm runs through a weighted head and connects to a hook. Metal beads, spacers, or swivels are attached to the arm. Often, they come with soft skirts to hide the hook.

Spoon Lures:

Generally made of metal, spoons have oblong, flat, oval-shaped components that resemble spoons with a slight concave feature. Their flat construction allows them to skim through water easily. This construction lets them wobble when towing or sinking, and the wobbling makes turbulence that lures the fish. The blades create light reflections that mimic baitfish scales. Spoons create vortices that fish follow when they are evading prey. They come in all colors, materials, and sizes, and can be painted to appear like natural baits.

Topwater Lures:

Topwaters, also called surface lures or walkers, float or suspend on the water's surface. Manufacturers design them to imitate prey to attract predatory fish. They can come painted to look like baitfish or small frogs or insects. 

Electronic Lures

Electronic lures, like traditional lures, cater to different fishing conditions, species, and environments. These are technologically advanced fishing devices designed to improve opportunities for a successful harvest. They use stimuli forms of light, sound, and vibration to entice fish to bite.

Light-Emitting Lures:

LED Lures: These lures are equipped with small LED lights that flash or glow, mimicking the bioluminescence of certain prey species. The light can be constant, pulsating, or flashing in different colors, which can be effective in low-light conditions or murky water.

Glow Lures: These lures absorb light and then emit it slowly, glowing in dark or deep waters. They do not actively use electronics but are sometimes categorized under light-emitting lures due to their glowing properties.

Sound-Emitting Lures:

Buzzer Lures: These lures have built-in speakers that emit sounds mimicking the noises made by prey species, such as clicking, buzzing, or other sounds that attract fish.

Vibrating Lures with Sound: These combine sound and vibration, using small internal motors to create noise that can mimic the movement and sounds of distressed prey or schools of fish.

Vibrating Lures:

Motorized vibration lures contain small motors that cause them to vibrate, and they imitate the erratic movements of injured prey. The vibration can be used alone or in conjunction with other stimuli, like light or sound.

Rattling Lures:

Rattling lures have internal beads or mechanisms that emit a rattling sound when moving, beisides the vibration. The noise and vibration together are designed to draw attention from fish, especially in deeper or murkier waters.

Multi-Sensory/Hybrid Lures:

Hybrid lures combine two or more of the above elements, such as light, sound, and vibration, to create a multi-sensory attraction. For example, a lure might flash LED lights, emit sound, and vibrate all at once to mimic the full range of stimuli that might attract predatory fish.

Programmable / Smart Lures

Smart lures are advanced electronic lures that can be programmed with different patterns of light, sound, or vibration. These are designed for customized programming based on the targeted species or specific fishing conditions.

Forward-Facing Sonar Lures (FFS):

FFS lures are the lures that fishing tournaments typically ban. Tournaments highlight the experience, knowledge, and skills of anglers. FFS lures provide real-time, three-dimensional views of the underwater environment in front of a boat. FFS technology allows anglers to see fish behavior, locate fish, and identify their environments. 

Many fishing tournaments emphasize traditional angling methods, where the challenge lies in reading the water, understanding fish behavior, and using skill to attract and catch fish. Banning forward-facing sonar helps preserve these traditional aspects of the sport. FFS lures would give an unfair advantage to anglers when fishing against traditional lures.

FFS lures also raise concerns about overfishing. The ability to target precisely and catch fish using FFS can lead to higher catch rates. In catch-and-release tournaments, this might increase stress on fish populations and potentially lead to higher mortality rates.

Some species may be more susceptible to being targeted with FFS technology, like those that gather in schools or are found in specific structures. This could lead to an imbalance in the types of fish being caught and potentially harm certain populations.