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

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.