Fishing Rods Market Size, Share, Market Research and Industry Forecast Report,2020-2026 (Includes Business Impact of COVID-19)

  • TBI425325
  • November 28, 2020
  • Global
  • 132 pages
  • Lucintel

Industry Insights, Market Size, CAGR, High-Level Analysis: Fishing Rods Market

The global fishing rods market size was valued at USD 909.4 million in 2018. Rising adoption of fishing as a recreational activity among the people of various age groups in countries including U.K., Japan, and Australia is expected to promote the market growth. Over time, fishing has gained popularity owing to its ability to train the practitioner in terms of improving patience as a key skill. Knowledge about rods, hooks, and baits, along with the arrangement of rigs and knots, acts as the combination of science and art, which has been challenging as well as creative for the individuals. In the last few years, angling vacations have gained significant popularity among the people of Europe and North America. People are taking interest in spending their vacations around popular fishing spots across the world, including Connemara (Ireland), Coasts of Scottish Highlands (Midwest), Lake Michigan (Illinois), Salmon River (New York), and Gillhams Resort (Thailand). The calmness around these areas offer a good spot for get together and enjoyment and thus, fishing enthusiasts can be seen taking trips along with the family and friends. This, in turn, is expected to increase the demand for fishing rods in the coming years. Moreover, growing adoption of ice fishing in the recent past is another trend influencing the fishing rods market. Ice fishing has gained popularity in countries including Norway, Bulgaria, France, and Canada, which have a large number of lakes and freezing climatic conditions. This is further boosted by contests held in different parts of the world. For instance, Brainerd Jaycees Ice Fishing Extravaganza is held every January on Gull Lake, Minnesota, wherein more than 15000 anglers participate. These factors have prompted the fishing rod manufacturers to broaden their product range to incorporate rods suitable for fishing during extreme weather. It has been observed that marine ecosystem has been hampered due to excessive fishing, as it holds a substantial percentage in this destruction. Thus, the governments across the world have been implementing rules, conventions, and licensing restrictions in order to protect the marine life. For instance, the Central Fisheries Board in Ireland regulates angling and controls license distribution in the country.

Product Insights of Fishing Rods Market

Spinning rods led the market for fishing rods and accounted for more than 35.0% share of the global revenue in 2018. The segment growth is attributed to its simplicity and effortless application. These products are efficient in throwing lighter lures far in water and complement the crankbaits, jerkbaits, shaky heads, and drop-shotting. Furthermore, these rods are exceptionally useful in fishing in windy place, where most kinds of other rods will fail miserably as it makes casting easier. It also avoids creating backlashes and thus, the use of lures can be skipped. Fly fishing rods are expected to expand at the fastest CAGR of 5.3% from 2019 to 2025. The product has been gaining popularity owing to its capability for casting baits in distant water. It can cast lures as small as finicky tarpon or a picky trout for the long distance. In addition, it does not require reeling prior to casting. Skilled anglers are able to use it as a strike indicator too by observing the fly line.

Application Insights of Fishing Rods Market

Recreational fishing accounted for the largest share of exceeding 50.0% in 2018. Rising spending on angling vacations, wherein people prefer spending their vacation angling at some of the most popular fishing destinations, is expected to be a favorable factor. Furthermore, the governments from across the world have regulated the recreational fishing in order to keep the marine life healthy and earn a robust revenue. ˜Pay to fish is another revenue channel for established fisheries, where they can charge the tourists for letting access to certain ponds, lakes, and reservoirs. Commercial fishing is expected to expand at the fastest CAGR of 5.5% from 2019 to 2025. Under this segment, multiple hooks are used in order to enhance their chance for catching school of specific pelagic fishes, which include bluefin, yellowfin, marlin, billfish, sailfish, tuna, swordfish, halibut, and sablefish. The method is especially adopted by commercial fishermen who operate on smaller scales or those who sell exotic species of fish, which arent easily caught through netting.

Distribution Channel Insights

Offline channels accounted for the largest share, exceeding 85.0% share of the global revenue in 2018. The buyers prefer buying rods after getting a hands-on experience with the rod. Most anglers are very conscious about how the product feels in hand and how they have command on it. Additionally, fishing rod is not a regularly used tool and assistance is necessary during the purchase for a satisfactory purchase, which is well assisted by brick and mortar sellers by offering on the purchase assistance. The online channel is expected to expand at the fastest CAGR of 5.7% from 2019 to 2025. These products are comparatively new and thus the penetration is comparatively shallower than its counterparts. A majority of anglers fall in the age group which is above 35 and their relationship with e-commerce is limited. Rising interest of the millennials and generation Z in fishing is expected to promote the utility of online channels over the upcoming years. Raw

Material Insights of Fishing Rods Market

Bamboo based fishing rods led the market and accounted for a share of more than 40.0% in 2018. These products are appropriate for medium to small streams and still water bodies. Their sizes range from 6 to 8 feet and provide advantage in bushy surrounding. Owing to its weight, the rod is slightly loaded, which assists in casting short line lengths easily. The product is appropriate for sight angling situation, where accurate casting is needed. Moreover, its cushioning effect helps in reducing the bounce of heavy lures. The easy casting technique makes it appropriate for beginners. Its strength helps in protecting the tip of the rod from breaking due to wait or shock. The shorter rods can easily absorb the shocks as well as stop the fish. Fiberglass fishing rods are expected to expand at the fastest CAGR of 5.3% from 2019 to 2025. These products are composed of either electrical glass or structural glass, which are appropriate for catching large fishes such as pike, muskie, or walleye and require sturdy and durable body to muscle the fighting fish. Their low price is another factor influencing the market growth positively. Furthermore, these fishing rods are perfect for casting large and heavy baits.

Regional Insights of Fishing Rods Market

North America was the largest market for fishing rods, accounting for more than 40.0% share of the global revenue in 2018. People have adopted this peaceful activity as a hobby and they love to spend their time around the water reservoirs. Furthermore, majority of the angling spots are surrounded with water and greenery, providing a natural spot for picnics and family and friends get together. Thus, group angling and small contests among the group is also common in U.S. All these factors are supported by the geographic setup in the aforementioned countries as they have a large number of lakes, canals, and other water reservoirs. Asia Pacific is expected to be the fastest growing market, expanding at a CAGR of 5.6% from 2019 to 2025. Recreational fishing has not gained much popularity across the region but tremendous growth in the interest of common mass has been observed in recent years. People have been actively participating in fishing as a part of recreational activity in countries including Japan, Australia, and New Zealand.

Market Share Insights of Fishing Rods Market

Some of the key players of the market are AFTCO Mfg.; Cabelas Inc.; Dongmi Fishing, Eagle Claw; Preston Innovations; RYOBI; Pokee Fishing; Shakespeare; Shimano; St. Croix; Tica Fishing; Tiemco; and Weihai Guangwei Group. Most rod manufacturers offer end to end angling tackles. For instance, AFTCO Mfg. offers angling shorts, shirts, outerwear, and accessories for men, women, and kids, as well as offers nets, butts, and rod spare parts. Thus, most companies offer one spot solution to all angling related requirement. In addition, these firms can be seen to be hosting or sponsoring angling contests to enhance peoples interest in fishing and create brand awareness among the common mass.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Fishing Rods Market Research Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global fishing rods market report on the basis of product, raw material, application, distribution channel, and region: Product Outlook (Revenue, USD Million, 2019 - 2030)
  • Spinning Rods
  • Fly Fishing Rods
  • Casting Rods
  • Others
Raw Material Outlook (Revenue, USD Million, 2019 - 2030)
  • Bamboo
  • Fiberglass
  • Carbon Fiber
  • Others
Application Outlook (Revenue, USD Million, 2019 - 2030)
  • Competitive Casting
  • Recreational
  • Commercial
  • Others
Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030)
  • Online
  • Offline

Table of Contents
Chapter 1. Methodology and Scope                    1.1. Market Segmentation & Scope                    1.2. Market Definition                    1.3. Information Procurement                        1.3.1. Purchased Database                        1.3.2. GVR’s Internal Database                        1.3.3. Secondary Sources & Third-Party Perspectives                        1.3.4. Primary Research                    1.4. Information Analysis                         1.4.1. Data Analysis Models                    1.5. Market Formulation & Data Visualization                    1.
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