Global Fishing Rods Market Grows Steadily at a CAGR of 3.10%

Introduction

Fishing is one of the most popular activities to help participants develop their patience. The growing preference of a substantial population to spend their vacations close to various fishing spots drives the expansion of the global market for fishing rods. As their name implies, fishing rods are equipment used to attract fish during fishing. In other words, fishing rods facilitate catching fish by anglers and others. On one end of each fishing rod is a hook secured with an adjustable rope length. These hooks are used to entice and capture fish quickly. Various materials are used to manufacture fishing rods, which are available offline and online.

A fishing rod is a long, thin pole with a line and hooks attached that is primarily used for sport fishing. It is a long, cylindrical, flexible, and thin rod made of fibreglass, wood, or steel and typically employed by anglers to capture fish. A hook is attached to the rod's free end to hold the bait or lures, which can be live insects, worms, or artificial lures. Manufacturers of fishing rods provide functionality and features that enable customers to cast lines farther and more precisely. Various fishing rods are available, including fly fishing rods, spinning rods, and casting rods.

Market Dynamics

An increase in children's interest in fishing is propelling the market growth.

Children's growing interest in fishing and related activities has created new business opportunities for stakeholders. Moreover, fishing has become a popular outdoor activity among adults and children. Parents encourage their children to begin fishing because it improves their concentration and patience. Additionally, there are several short fishing rods available, especially for children. This short rod equipment is available with kid-friendly character designs. Thus, the increase in children's interest in fishing activities and the accessibility of fishing equipment for children fuel the growth of the fishing rod market.

Rising Social media penetration is driving the market

As more people in every region of the world gain access to the internet, the number of social media users has skyrocketed. Due to this, most fishing rod market competitors have begun formulating strategies for promoting their products and services on various social media platforms. E-commerce is one of the effective strategies that companies and industries have adopted to increase target customer awareness of their product offerings on e-commerce channels. Therefore, the global fishing equipment market views e-commerce marketing as a crucial opportunity to gain traction and expand its customer base among its target segments.

Regional Analysis of the Global Fishing Rods Market

According to the region, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The largest fishing rod market in the world, as measured by revenue, was found in North America. People love to spend their time near the water reservoirs and have made this peaceful activity their hobby. Most fishing locations are also surrounded by water and vegetation, making them ideal picnic spots and places to gather with loved ones. The market is anticipated to grow the fastest in the Asia Pacific. Although recreational fishing has not become particularly well-liked in the area, there has been a sharp increase in public interest in recent years.

Key Highlights

• The Global Fishing Rods Market was valued at USD 1.03 billion in 2021 and is projected to reach USD 1.62 billion by 2030, registering a CAGR of 5.13% from 2022 to 2030.
• The Global Fishing Rods Market is segmented by product, raw material, application, distribution channel, and region. Based on the product, the market is divided into Spinning Rod, Fly Fishing Rod, Casting Rods, and Others. The most considerable global revenue came from spinning rods, dominating the fishing rods market.
• Based on Raw material, the market is categorized into bamboo, fibreglass, carbon fibre and others. Fishing rods made of bamboo dominated the market and held the largest share.
• By application, the market is classified as Competitive Casting, Recreational, Commercial, and Others. The most significant percentage came from recreational fishing.
• By distribution channel, the market is segmented into online and offline. The majority of the distribution came from offline channels.

Competitive Players

1. AFTCO Mfg.
2. Cabelas Inc.
3. Dongmi Fishing
4. Eagle Claw
5. Preston Innovations
6. RYOBI
7. Pokee Fishing
8. Shakespeare
9. Shimano
10. Croix
11. Tica Fishing
12. Tiemco
13. Weihai Guangwei Group

Recent Developments

• April 2024 - With the acquisition of Mid-America Rod Company, GSM Outdoors expanded its line of fishing brands to include the American manufacturer. Mid-America Rod Company, based in Arkansas, has been producing high-quality rods since 1976.
• February 2024 - Orvis, the outdoor gear retailer that started it all with the modern fly rod, announced the new Helios line of rods. Compared to its revolutionary forerunner, the Helios 3 (H3), the new Helios is 25% stronger, 10% lighter, and four times more precise. This user-friendly rod has begun an innovative new era in fly rod production.

Segmentation

1. By Product
   1. Spinning Rods
   2. Fly Fishing Rods
   3. Casting Rods
   4. Others
2. By Raw Material
   1. Bamboo
   2. Fibreglass
   3. Carbon Fiber
   4. Others
3. By Application
   1. Competitive Casting
   2. Recreational
   3. Commercial
   4. Others
4. By Distribution Channel
   1. Online
   2. Offline
5. By Rod Weight
   1. Ultra-Light
   2. Light
   3. Medium
   4. Medium Heavy
   5. Heavy
   6. Extra Heavy
6. By Flex Type
   1. Tip Flex
   2. Mid Flex
   3. Full Flex
7. By Sales Channel :
   1. Supermarkets/ Hypermarkets
   2. Sports Stores
   3. Speciality Stores
   4. Online Stores
      1. Company Websites
      2. Third-party Online
      3. Specialty Online
   5. Direct Procurement