The key driving factor of the market is the growing preference of a substantial population to spend their vacations close to various fishing spots drive the fishing rods market.
Fishing is one of the most popular leisure activities and helps participants develop and improve their skills. A growing trend in fishing sports is expected to drive demand for the fishing rod market. Fishing rods that help people catch fish consist of a hook at one end connected to a long, flexible rope. It is a long, cylindrical, flexible, thin rod made of fiberglass, wood, or steel, typically used by anglers to catch fish. Many people around the world tend to participate in various types of recreational activities, such as fishing. This factor is the major driving force behind the expansion of the global fishing rod market. Fly rods, casting rods and spinning rods are some of the most popular products available on the fishing rod market. These sticks are made from a variety of materials such as carbon fiber, bamboo and fiberglass.
In recent years, the number of participants in various leisure activities has increased dramatically. Increasing individual participation in fishing competitions coupled with various government initiatives and massive fundings to promote recreational fishing in various countries around the world, are driving the global market. Also, one of the key factors behind this growth is the improvement in disposable income in large populations around the world, mainly in developed countries. Furthermore, the recent increase in ice fishing acceptance is another trend impacting the fishing rod market. Ice fishing is popular in countries such as Norway, Bulgaria, France and Canada with numerous lakes and sub-zero climate conditions. All these factors are expected to drive market growth across the globe.
The increasing number of fishing associations and clubs for recreational fishing around the world is also driving the growth of the fishing rods market. The rising popularity of angling competitions around the globe and increasing personal disposable income are two major factors propelling market growth.
The market has major restraining factors, like overfishing, as the marine ecosystem accounts for a significant proportion of its destruction. Thus, governments across the world have been enforcing restrictions, conventions, licensing restrictions to protect marine life. For instance, in Ireland, the central Fisheries commission regulates fishing and administers national licenses in the country. Other impediments to market growth include action by PETA and other NGOs on the environmental impact of hunting and fishing gear.
The fluctuations in the price of raw materials are one of the major factors challenging the growth of the fishing rods market. Furthermore, the growing government regulations and rising environmental concerns will pose a major challenge to the growth of the market.
The report provides in-depth analysis of the fishing rods market, market size, and compound annual growth rate (CAGR) for the forecast period of 2023-2029, considering 2022 as the base year. A growing trend among many of the population to spend their vacations near various fishing sports and an increased interest in children in fishing across the globe are fueling the growth of the market, which is expected to witness growth at a specific CAGR from 2023-2029.
The fishing rods market comprises of different market segment like product type, material type, flex type, rod weight, application, distribution channel and geography.
By product type, the fishing rods includes key segment of
Over the forecast period spinning rods are expected to dominate the market. These products are efficient at casting lighter baits in the water and complement crankbaits, jerk baits, shaky heads and drop shots. This segment is growing owing to its ease of use and these rods are very useful when fishing in windy areas where most other rods fail miserably, as they make casting easier. It also avoids creating backlash and thus, the use of lures can be skipped. Thus, all these factors boost segment growth.
On the other hand, the fly-fishing rods are expected to register the fastest CAGR during the forecast period. It can also be used as baiting cast in shallow water, and it is gaining popularity as it can cast small baits such as Finicky Tarpon and Finicky Trout in a long range.
By material type, the fishing rods includes key segment
The bamboo material type is expected to dominate the market over the forecast period. In 2018, bamboo-based fishing roads accounted for 40.0%. These products are suitable for medium to small rivers and still waters. Their size ranges from 6 to 8 feet, giving them an advantage in bushy environments. Bamboo rods are an idea for anglers who enjoy the most delicate presentation as well as the slow and extremely flexible action of their rods. Moreover, its toughness prevents the rod tip from breaking due to maintenance or impact. A short rod absorbs shock better and can stop fish. All these factors are expected to boost the bamboo segment's growth.
Fiberglass is expected to register the fastest CAGR during the forecast period. These rods are most suitable for catching large and heavy baits and are the preferred choice of fishers owing to their lower costs and lighter weight yet more durability than graphite fishing rods.
By flex type, the fishing rods includes key segment
The tip flex is expected to dominate the market over the forecast period. The tip flex model has a stiffer bend along most of the rod. This creates a stronger backbone that allows for heavier, faster throws on large presentations such as large foam patterns and streamers.
By rod weight, the fishing rods includes key segment
The ultra-light rods are expected to dominate the market over the forecast period. Ultra-light rods are great for catching small fish in shallow water. Designed to cast small amounts of weight. This makes them best for mild lures like tiny spoons and spinners. Ultralight rods can also help boost the movement at the entice for the duration of the retrieve.
By application, the fishing rods includes key segment of
Recreational fishing is expected to dominate the market over the forecast period. In the year 2018, recreational fishing accounted for the largest share, around 50.0%, in the fishing rods market. Recreation fishing is the second most popular outdoor activity in the United States after jogging. Many enjoy fishing and spending time near the reservoirs. Adding to that, growing interest in children’s fishing and related activities has created new business opportunities for interest groups. Fishing is also a popular outdoor activity for adults and children. Furthermore, parents encourage their children to start fishing. Therefore, the demand for fishing rods is growing in recreational fishing.
By distribution channel, the fishing rods includes key segment
The supermarket is expected to dominate the market over the forecast period. Buyers prefer to experience using a rod before purchasing a rod. Most anglers are very conscious of how the product feels in their hands and how they control it. On the other hand, the online store is expected to register the fastest CAGR during the forecast period. E-commerce is one of the most effective strategies adopted by companies and industries to increase target customer awareness of product offerings on e-commerce channels.
By geography, the fishing rods includes key segment of
North America is expected to dominate the market over the forecast period. In the year 2018, North America accounted for the largest share, accounting for over 40.0% of global fishing rod sales. People have adopted this peaceful activity as a hobby and enjoy spending time near the reservoir. In addition, increased fishing competition activity in the region is expected to boost sales of fishing rods in the coming years.
The Asia Pacific is expected to register the fastest CAGR during the forecast period. In countries like Japan, Australia, and New Zealand, people actively engage in fishing as part of their recreational activities.
The outbreak of the COVID-19 pandemic is expected to have a noticeable impact on market growth. Lockdowns imposed to stem the spread of the disease have disrupted supply chains and manufacturing operations around the world. Massive lockdowns and travel restrictions imposed to combat the pandemic are altering human behavior, disrupting industrial activity, and creating challenges and uncertainties for the global economy and human societies. Due to lockdowns, 81% of the global workforce remained at home by early April 2020, and global manufacturing output fell by 20% in April 2020. Also, the impact of the COVID-19 on the seafood industry and aquaculture has been tremendously huge and people who actually rely solely on seafood have had to go through a lot while the food supply chain has been hampered due to the various measures taken while trying to prevent the ill-effects of the pandemic. Although the pandemic has slightly reduced the global fishing rod market, net income, and production of rods in the upcoming years, the market is expected to slowly pick up.
The competitive landscape analysis of the fishing rods market is primarily focused on expanding the global growth of the fishing rods market through new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in the market has led to growing demand for the market. Besides, the market offers a range of products to fulfil the required demand of consumers, which is further contributing to healthy growth in the market.
The key players studied in market are
AUGUST 2022: PENN Fishing, a leading saltwater tackle company, has introduced a dependable rod for anglers looking for functionality and durability in a variety of fishing conditions. The Mariner III is the perfect rod for anglers who need a reliable, versatile rod for most saltwater species, including salmon and steelhead.
By product type, the fishing rods include key segments like spinning rods, fly fishing rods, casting rods, ice fishing rods, surf rods, telescopic rods. The spinning rods segment is expected to dominate the market over the forecast period. By material type bamboo, fiberglass, carbon fiber. The flex type of fishing rod includes tip flex, mid flex. By rod weight, fishing rods include, ultra-light, light, medium, medium heavy, Heavy, Extra Heavy. The fishing rods finds its application in competitive casting, recreational fishing, and commercial fishing. The distribution channel of fishing rods, supermarkets, hypermarkets, sports stores, online stores, direct procurement. The global fishing rods market is studied for the following regions: North America, Europe, Asia-Pacific, and Rest of the World (RoW). The North America region is projected to lead the market during the forecast period.
Market
Sizing for Year: | 2019-2029 |
Base
Year: | 2022 |
Forecast
Period: | 2023-2029 |
Value: | USD
Million |
Market
Segment studied: | Product Type Material Type Rod Weight Application Distribution channel |
Market
Players and its Competitors: | AFTCO Cabela’s Inc. Dongmi Fishing
Tackle Co., Ltd. Eagle Claw Preston
Innovations RYOBI Pokee Fishing
Tackle Pure Fishing,
Inc. Shimano, Inc. St. Croix Rods Tica Fishing
Tackle Shakespeare |
FREQUENTLY ASKED QUESTIONS
What are the drivers for fishing rods market?
The key driving factor of the market is the growing preference of a substantial population to spend their vacations close to various fishing spots drive the fishing rods market.
Which is the leading product type segment for fishing rods market?
The spinning product type segment has accounted the major market share, and is expected to witness the growth at highest pace during the forecast period.
Which region is gaining majority of market share during the forecast period (2023-2029)?
North America is expected to gain major market share during the forecast period (2023-2029).