Fishing Rod Market Outlook and Growth Forecast for the Period 2018-2028

Posted on 2019-05-21 by Mark Hub in Sports // 0 Comments

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Sport equipment market expanded at a global level due to rising irrigation infrastructure and expansion in the coastal areas, attraction towards marine habitat and indulgence in sports. The economic growth and opportunities to the residents of coastal areas are the direct constraints of the global market of a fishing rod. Many countries organize events to create awareness towards the marine life and its importance including sports fishing. Such programs impact the Fishing Rod Market trends and creates new opportunities for growth of the fishing rod.

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Fishing, which has long been a recreational activity, is gathering momentum due to the fast paced lifestyle, thereby increasing the demand for fishing equipment the global market, including fishing rod. A fishing rod is a flexible long pole or sticks attached to a line. There are different types of fishing rods used depending on the activity such as fly fishing rods, spinning rod, ice fishing rod, etc. Manufacturing of fishing rods has also gained the attention of many small manufacturers and found a place in the market at a regional and global level. Many countries, mostly located in the coastal regions, encourage sports fishing, which amplifies the demand for fishing equipment. The demography comprises the new generation, who are taking up fishing as a recreational sport.

Alberta Fish and Game Association is a well-known organization working for the development of the fish and wildlife conservation in Canada. They regularly organize some awareness events, recreational fishing which indirectly supports the market for fishing equipment such as the fishing rod.

Most people like to spend their time in recreational fishing, whereas some others are more attracted towards freshwater sports fishing rather than saltwater sports fishing. This restraint in the market is restricted to some specific regions.

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Significant attraction towards sports fishing develops new opportunities for the fishing rod market participants. Manufacturers are now introducing newly sustainable fishing rod, such as carbon fibre rods and graphite fishing rods over the conventional bamboo fishing rods. Many countries have formulated rules against the cutting of bamboo as it can have an adverse effect on the nature. The lack of bamboo fishing rods has encouraged the consumers to opt for modern fishing rods. Moreover, graphite fishing rods are more flexible and easy to use. Bamboo fishing rods are more expensive, have slow action and can breaks easily as compared to graphite fishing rod and carbon fibre fishing rod. The newer versions are more affordable, durable and environment-friendly. This changes the conventional market scenario and provides new opportunities.

Fishing rods are segmented on the basis of type of fishing method, such as flying fishing rod, spinning rod and ice fishing rod. There are two variants of flying fishing rods: 6-8 ft. or 8-10 ft. as per the requirement of covering the broader or narrower loop on casting forward the lure.. Spinning fishing rod has a range from 5-9 ft. and is commonly used as it is comfortable. Ice fishing rods are only 24-36 inches long and have a limited use than the spinning fishing rods.

North America dominates the sales of fishing rod as 40 million Americans indulge in the activity and the presence of more natural streams. Furthermore, the market is expected to grow as many new young fishing enthusiasts are venturing into sports fishing and supporting the demand for fishing rods. Japan has a vibrant recreational fishing population, which is likely to create a massive market for the fishing rod. Australia and New Zealand are emerging as the new hotspot for recreational fishing, and thus, the market for fishing rod is likely to grow. Collectively these global trends contribute to the demand and expand the overall growth of the fishing rod market in the forecast period, 2018-2028.

Some of the key market players in the global fishing rod market are Shakespeare, Shimano, Weihai Guangwei Group, Ryobi, Humminbird and Pokee.

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Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.

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