The global fishing rods market size 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. One of the most well-liked pastimes that can aid participants in improving their patience skills is fishing. The significant population's growing preference to spend their vacations close to various fishing locations fuels the expansion of the world market for fishing rods. Fishing rods are equipment used to entice fish during fishing, as the name shows. In other words, fishing rods assist anglers or other people in catching fish. The fishing rods have a hook attached to one end that is secured with a length of flexible rope. These hooks are used to lure fish and quickly capture them. Fishing rods are produced using various materials and are available for purchase offline and online.
A long, thin pole with a line and hook attached is a fishing rod, a tool primarily used for sport fishing. It is a lengthy, cylindrical, thin, flexible rod made of fibreglass, wood, or steel. Anglers typically use it to capture fish. The rod's loose end has a hook attached to hold the bait or lures, which can be live insects and worms or synthetic lures. Fishing rod manufacturers offer features and functionality that enable customers to cast lines farther and more precisely. There are many fishing rods on the market, including fly fishing rods, spinning rods, casting rods, and others.
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Increase in the interest of children in fishing
Children are becoming more interested in fishing and related activities, which has given stakeholders new business opportunities. Additionally, fishing has become a popular outdoor activity for adults and children. Additionally, parents are encouraging kids to start fishing because it improves their ability to focus and be patient. In addition, several short fishing rods are available, especially for kids. There are kid-friendly character versions of this short rod equipment available. Thus, the growth of the fishing rod market is further fueled by the increase in children's interest in fishing activities and the accessibility of fishing equipment for kids.
Rising Social media penetration
As more people in every region of the world access the internet, the number of people using various forms of social media has skyrocketed. Because of this, most companies competing in the fishing rod market have begun formulating plans for promoting their goods and services on various social media platforms. E-commerce is one of the effective strategies that various companies and industries have adopted to spread awareness among their target customers about the product offerings they have available on e-commerce channels. Therefore, the global market for fishing equipment views the marketing strategy of e-commerce as a critical opportunity to gain traction and increase customer reach among its target segments.
Pollution by equipment and the government regulations
Modern fishing techniques alter ocean environments in many ways, including disturbing seafloors, altering food webs, and altering several crucial ecosystem functions. In addition, abandoned and lost fishing rods or equipment are lethal to marine life because they constitute a significant portion of plastic pollution in oceans, rivers, and ponds. Additionally, lost or forgotten fishing equipment is more destructive because it can trap animals. Thus, the adverse effects of modern fishing equipment disturb the marine environment and hinder the market growth for fishing equipment. It has been observed that excessive fishing has harmed the marine ecosystem, as it accounts for a significant portion of this destruction. To protect marine life, governments across the globe have implemented regulations, conventions, and licencing restrictions.
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 portion of global revenue came from spinning rods, dominating the fishing rods market. Its ease of use and simplicity in the application are credited for the segment growth. These products complement crankbaits, jerk baits, shaky heads, and drop shotting by effectively launching lighter lures farther into the water. Additionally, because casting is made simpler, these rods are incredibly helpful when fishing in windy conditions, where most other rod types fail miserably. It also prevents backlashes from occurring, allowing the use of lures to be disregarded.
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. These products are suitable for still water bodies and medium-sized to small streams. Their sizes, which range from 6 to 8 feet, give them an advantage in the dense vegetation. The rod is slightly loaded because its weight makes it easier to cast short line lengths. The product is suitable for sight-fishing circumstances where precise casting is required.
By application, the market is classified as Competitive Casting, Recreational, Commercial, and Others. The most significant percentage came from recreational fishing. It is anticipated that spending on fishing vacations will increase as more people spend their vacations fishing at some of the most well-known fishing locations.
By distribution channel, the market is segmented into online and offline. The majority of the distribution came from offline channels. Customers prefer to purchase rods after using them first-hand. Most anglers pay close attention to how the product feels in their hands and how they control it. Additionally, because a fishing rod is not a commonly used tool, assistance is required during the purchase to ensure a successful transaction. Brick and mortar retailers offering this assistance are offering their customers excellent service.
According to the region, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa.
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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. As a result, group fishing and little competitions within the group are also widespread in the U.S. The geographic configuration of the nations above, which has many lakes, canals, and other water reservoirs, supports all these factors. 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.