Fishing Rods Market
Report ID: SQSG25J2005
Fishing Rods Market Size, Share, Growth Analysis, By Product Type(Spinning Rods, Fly Fishing Rods, Casting Rods, Others), By Raw Material(Bamboo, Fiberglass, Carbon Fiber, Others), By Application(Competitive Casting, Recreational, Commercial, Others), By Distribution Channel(Online, Offline), By Region - Industry Forecast 2024-2031
Report ID:
SQSG25J2005 |
Region:
Global |
Published Date: April, 2024
Pages:
260
|Tables:
119
|Figures:
77
Fishing Rods Market Insights
Fishing Rods Market size was valued at USD 1.03 billion in 2019 and is poised to grow from USD 1.08 billion in 2023 to USD 1.62 billion by 2031, growing at a CAGR of 5.13% in the forecast period (2024-2031).
Market expansion is anticipated to be aided by the growing popularity of fishing as a recreational activity among people of all ages in nations like the U.K., Japan, and Australia. Due to its capacity to train the practitioner in terms of enhancing patience as a crucial skill, fishing has grown in popularity over time. Knowing about rods, hooks, and baits, as well as how to set up rigs and tie knots, combines science and art, which has proven difficult as well as creative for people.
Vacations that include fishing have become very popular in recent years in North America and Europe. Popular fishing destinations around the world, such as Connemara (Ireland), the Coasts of the Scottish Highlands (Midwest), Lake Michigan (Illinois), Salmon River (New York), and Gillhams Resort, are attracting more tourists (Thailand). Fishing aficionados are frequently seen going on excursions with their families and friends because the peace and quiet in these regions makes for a pleasant place for a gathering and enjoyment. In turn, it is anticipated that in the upcoming years, demand for fishing rods would rise.
Another development that has an impact on the market for fishing rods is the rising popularity of ice fishing in recent years. With so many lakes and a cold climate, ice fishing has become increasingly popular in nations like Norway, Bulgaria, France, and Canada. A significant boost to this comes from competitions hosted around the world. For instance, more than 15000 anglers participate in the Brainerd Jaycees Ice Fishing Extravaganza, which is held in January on Gull Lake in Minnesota. Due to these factors, fishing rod producers have expanded their product lines to include rods appropriate for fishing in extreme weather conditions.
It has been noted that overfishing, which accounts for a significant portion of this devastation, has harmed the marine ecosystem. As a result, laws, agreements, and licencing limitations have been put in place by governments all over the world to safeguard marine life. For instance, the Central Fisheries Board in Ireland oversees the regulation of angling and the distribution of licences throughout the nation.
US Fishing Rods Market is poised to grow at a sustainable CAGR for the next forecast year.
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Fishing Rods Market Segmental Analysis
Global fishing rods market is segmented based on the product, raw material, application, distribution channel, and region. Based on the product, the global fishing rods market is segmented into spinning rods, fly fishing rods, casting rods, and others. Based on raw material, global fishing rods market is segmented into bamboo, fiberglass, carbon fiber, and others. Based on application, global fishing rods market is segmented into competitive casting, recreational, commercial, and others. Based on distribution channel, global fishing rods market is segmented into online and offline. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Product Type
In 2021, spinning rods dominated the market for fishing rods and generated more than 38.0 percent of worldwide sales. Its ease of use and simplicity in the application are credited for the category growth. These items enhance crankbaits, jerk baits, shaky heads, and drop shotting by effectively launching lightweight lures farther into the water. Additionally, because casting is made simpler, these rods are incredibly helpful when fishing in windy conditions, where the majority of other rod types would fail miserably. It also prevents backlashes from occurring, allowing the usage of lures to be disregarded.
The quickest CAGR of 6.1 percent is anticipated for the fly-fishing rod market from 2022 to 2028. Because it can cast bait into far-off waters, the device has been gaining popularity. It can cast lures far and wide, even to choosy trout or fussy tarpon. Additionally, casting doesn't need to be reeled in first. By examining the fly line, knowledgeable fishermen may utilize it as a strike indicator as well.
Fishing Rods Market Analysis by Application
In 2021, recreational fishing accounted for the biggest percentage, surpassing 52%. It is anticipated that spending on fishing holidays would increase as more individuals choose to spend their vacations fishing at some of the most well-known fishing locations. Governments all across the world have also controlled recreational fishing to protect marine life and generate substantial income. For established fisheries, "pay to fish" is another source of income through which they can charge visitors to use certain ponds, lakes, and reservoirs.
From 2022 to 2028, commercial fishing is anticipated to experience the quickest CAGR of 6 percent. Multiple hooks are used in this section to increase the likelihood that they would catch a school of certain pelagic species, such as bluefin, yellowfin, marlin, billfish, sailfish, tuna, swordfish, halibut, and sablefish. Commercial fisherman that fish on a smaller scale or who sell unusual types of fish, which are difficult to catch using nets, are more likely to use this strategy.
Fishing Rods Market Analysis by Distribution Channel
The overwhelming portion, more than 86 percent of the total income in 2021, came through offline channels. After using the rod firsthand, people choose to purchase them. Most fishermen pay close attention to how the equipment feels in their hands and in their control. A fishing rod is also not a product that is frequently used, therefore support during the purchase is required for a successful transaction. Brick and mortar stores that give this assistance do a great job of helping their customers.
The quickest CAGR of 6% is anticipated for the internet channel between 2021 and 2028. Since these items are more recent than their competitors, their penetration is also more limited. The majority of fishermen are over 35, and they have little experience with online shopping. In the next years, it is anticipated that the growing popularity of fishing among millennials and generation Z would increase the usefulness of online platforms.
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Fishing Rods Market Regional Insights
Fishing rod sales in North America accounted for more than 45.0 percent of worldwide sales in 2021, making it the industry's largest fishing rods market. People enjoy to spend their time around the water reservoirs and have made this tranquil pastime their passion. The majority of fishing locations are also surrounded by water and vegetation, making them ideal picnic areas and places to gather with loved ones. As a result, group fishing and little competitions inside the group are also widespread in the US. The physical configuration of the aforementioned nations, which has a high number of lakes, canals, and other water reservoirs, supports all these aspects.
The market in Asia Pacific is anticipated to develop at the quickest rate, with a CAGR of 6.2 percent from 2022 to 2028. Although recreational fishing has not become particularly well-liked in the area, there has been a sharp increase in public interest in recent years. In nations like Japan, Australia, and New Zealand, fishing has been avidly practised by citizens as a kind of recreation. The primary fisheries and aquaculture sector employed an estimated 58.5 million people in 2020. While the number of fishermen has decreased, notably as a result of developments in Asia, the numbers in the aquaculture industry have stabilised. Women made up around 21% of those directly employed, and nearly 50% of those working full-time throughout the entire aquatic value chain, including post-harvest operations. According to estimates, 600 million people rely on the fisheries and aquaculture industries for their livelihoods after accounting for dependents.
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Fishing Rods Market Dynamics
Fishing Rods Market Driver
- Vacations that include fishing have become very popular in recent years in North America and Europe. Popular fishing destinations across the world, such as Connemara (Ireland), the Coasts of the Scottish Highlands (Midwest), Lake Michigan (Illinois), Salmon River (New York), and Gillhams Resort, are attracting more tourists (Thailand). Fishing aficionados are frequently seen going on excursions with their families and friends since the peace and quiet in these regions makes for a pleasant place for gathering and enjoyment. In turn, it is anticipated that in the upcoming years, demand for fishing rods would rise.
- The market is expanding primarily due to the growing global popularity of angling contests and rising personal disposable income. Other indirect market growth drivers include the increased popularity of ice fishing, an increase in research and development efforts, and the trend of fishing during holidays. Long-term market development prospects will also be produced by the increasing prevalence of e-commerce platforms, growing understanding of the benefits of fishing rods, such as their capacity to throw baits into far waters and growing awareness via social media platforms.
Fishing Rods Market Restraint
- It has been noted that overfishing, which accounts for a significant portion of this devastation, has harmed the marine ecology. As a result, laws, agreements, and licensing limitations have been put in place by governments all over the world to safeguard marine life. For instance, the Central Fisheries Board in Ireland oversees the regulation of angling and the distribution of licenses throughout the nation.
- Long-term market expansion will be significantly hampered by changes in the price of raw materials. Government-imposed strict fishing laws and growing environmental concerns may further impede industry expansion. The market's development pace will once again be slowed down by increased efforts to conserve and preserve endangered species and the number of vegans, which is steadily expanding.
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Fishing Rods Market Competitive Landscape
The global fishing rods market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions.
Top Players in the Global Fishing Rods Market
- St. Croix Rods
- Shimano Inc.
- Abu Garcia
- Daiwa Corporation
- Pure Fishing Inc.
- Okuma Fishing Tackle Corp.
- G. Loomis Inc.
- Fenwick
- Orvis Company
- Hardy & Greys Ltd.
- Cabela's Inc.
- Sage Fly Fishing
- PENN Fishing Tackle Manufacturing Co.
- Ugly Stik
- Shakespeare
- Tica Fishing Tackle
- Rapala VMC Corporation
- Gamakatsu Fishing Hooks
- Jarvis Walker Pty Ltd
- Rapala.
Fishing Rods Market Recent Developments
- In April 2022, the outdoor industry leader in North America, Bass Pro Shops, announced the opening of a new Outdoor Superstore in Orange County, California.
- In February 2022, the Bass Pro Shops U.S. Open Bowfishing Championship, the pinnacle competition in the rapidly expanding sport of bow fishing, will make a comeback to the Ozarks from April 30 to May 1, 2022.
Fishing Rods Key Market Trends
- Given the social and economic benefits of recreational fishing, the number of financing programs provided by governments for related initiatives is anticipated to drive demand for recreational fishing gear, leading to a considerable increase in the market for fishing rods. Fishing rods market expansion will likely be aided by the engagement of fishing enthusiasts on social media and other digital platforms to share their catches and other fishing oddities.
Fishing Rods Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global fishing rods market analysis, in terms of product, the spinning rod segment held the largest share in the market. Its ease of use and simplicity in the application are credited for the category growth. These items enhance crankbaits, jerk baits, shaky heads, and drop shotting by effectively launching lightweight lures farther into the water. In terms of application, recreational fishing held the largest share in the market. It is anticipated that spending on fishing holidays would increase as more individuals choose to spend their vacations fishing at some of the most well-known fishing locations. And in terms of region, the North American region held the largest share in the fishing rods market. People enjoy spending their time around the water reservoirs and have made this tranquil pastime their passion. The majority of fishing locations are also surrounded by water and vegetation, making them ideal picnic areas and places to gather with loved ones.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.03 billion |
| Market size value in 2031 | USD 1.62 billion |
| Growth Rate | 5.13% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Fishing Rods Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Fishing Rods Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Fishing Rods Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fishing Rods Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fishing Rods Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Fishing Rods Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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