Global Fishing Rods Market Research Report: Forecast (2022-27)

Market Definition

Fishing rods, which help people catch the fish, comprise of a hook at the one end tied with a long & flexible rope. They are manufactured using different materials like bamboo, graphite, fiberglass, etc., and are available extensively across both online & offline sales channels. Over the years, fishing has gained significant traction, especially across Europe & North America, as it helps individuals boost their self-esteem, improve patience levels, relieve stress, and much more.

Market Insights

The Global Fishing Rods Market is projected to grow at a CAGR of around 4.2% during the forecast period, i.e., 2022-27. The market is driven primarily by the increasing inclination of people toward fishing as recreation. Besides, the burgeoning participation of individuals in fishing competitions, coupled with various government initiatives & massive funding toward promoting recreational fishing across different countries worldwide, are also driving the global market.

Moreover, the surging number of fishing associations & clubs for recreational fishing worldwide is also promoting the overall market growth. Additionally, rigorous promotional activities by fishing rod manufacturers entwined with the rapid expansion of online retail channels offering a hassle-free shopping experience with an extensive range of rods to consumers are also acting as prominent growth drivers for the market.

Ice fishing has gained significant traction across Sweden, Russia, Canada, Greenland, etc., in recent years, owing to the freezing temperatures & extensively available lakes in these countries. These factors have encouraged the leading fishing rod manufacturers to develop rods for these climatic conditions with sensors to help consumers locate & track fishing hotspots through their smartphones, which project remunerative growth prospects for the global market through 2027. Nevertheless, the surging presence of fishers on social media for sharing their fishing moments is another crucial aspect fueling the demand for fishing rods and augmenting the overall market growth.

Impact of Covid-19 on the Global Fishing Rods Market

The advent of Covid-19 in 2020 had significant implications on various industries worldwide, yet the Global Fishing Rods Market faced a short-term impact. Due to trade restrictions & closure of industries, the sales of fish & its associated products, which highly rely on international trade, were hampered severely amidst the pandemic.

North America, one of the prime fishing rods markets worldwide, witnessed a drastic decline in its growth. However, post the upliftment of lockdown, mounting participation in fishing activities and a rapidly increasing number of recreational activities have curated new growth paths for the global market.

Moreover, with a significant upsurge in the number of fishers across the world, fishing rod manufacturers are expecting lucrative growth opportunities, which, in turn, would further accelerate the growth of the global market in the years to come.

Market Segmentation

Based on Product:

• Spinning Rods
• Fly Fishing Rods
• Casting Rods

Amongst them all, spinning rods held the largest share in the Global Fishing Rods Market in the previous few years, and the same trend is projected even during 2022-27. It attributes primarily to their simple & hassle-free application and high efficiency in throwing lighter lures at long distances in water. These rods are incredibly beneficial for fishing at windy places since it makes casting easier. Moreover, their versatility, excellent durability, & low-costs are other characteristics that contribute to their dominance in the global market.

On the other hand, the demand for fly fishing rods is projected to witness the fastest growth in the market through 2027, owing prominently to its capability for casting lures in the water from a long distance. Fly fishing is most effective on rivers and not lakes. Fly fishing rods are lightweight and do not require reeling before casting. As a result, their increasing popularity for commercial fishing activities is augmenting the growth of the global fishing rods market.

Based on Raw Material:

• Bamboo
• Fiberglass
• Carbon Fibre

Here, Bamboo fishing rods held the largest market share in previous years, owing principally to their flexibility, high-tensile strength, UV & acid resistance, and lightweight yet superior durability. Fishing rods made of bamboo sticks are suited best for small & still water bodies, environmentally friendly, and if kept properly, they survive several years without losing their characteristics.

Moreover, in long-distance fishing, where accurate casting is required, they are considered an ideal companion. In addition, their easy casting technique, which makes them a perfect choice for novice anglers, is another critical factor contributing to their growing demand worldwide and driving the global market.

Nevertheless, Fiberglass fishing rods are gaining rapid traction in the global market. These rods are most suitable for catching large & heavy baits and are the preferred choice of fishers, owing to their lower costs and lighter weight yet more durability than graphite fishing rods. Hence, with these aspects, their adoption is significantly increasing for commercial fishing activities, which, in turn, is accelerating the overall market growth.

Regional Landscape

Geographically, the Global Fishing Rods Market expands across:

• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific

Of all regions globally, North America, followed by Europe, is expected to dominate the Fishing Rods Market during 2022-27. It owes to the growing interest of people, especially millennials, in recreational fishing, coupled with the increasing consumer demand for technologically-advanced fishing rods and massive expenditure by fishers on fishing-related equipment, primarily rods. Besides, the various angling competitions that happen across Canada & the US and the presence of numerous canals, lakes, & other water reservoirs across different countries in North America are other crucial aspects driving the regional market.

After jogging, recreational fishing is considered the second-most popular outdoor activity in the US. A large number of people have adopted fishing as their hobby, and they love spending their time around water reservoirs. Furthermore, most angling sites across the region are surrounded densely by water & greenery, which provides a natural spot for people to get together. Hence, these aspects project significant expansion of the fishing rods market in North America over the forecast years.

Key Questions Answered in the Market Research Report:

1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Global Fishing Rods Market?
2. What are the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Fishing Rods Market?
4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Fishing Rods Market based on the competitive benchmarking matrix?
5. What are the key results derived from surveys conducted during the Global Fishing Rods Market study?