The global fishing rod market will reach USD 32.3 billion by 2028,
Given the social and economic benefits of recreational fishing, the number of funding programs offered by governments for related activities is expected to increase the demand for recreational fishing equipment, resulting in a significant expansion of the market for fishing rod. The participation of fishing enthusiasts on social media and other digital platforms to share their catches and other fishing quirks is likely to contribute to the growth of the global fishing rod market.
The market is growing largely due to the increase in personal disposable income and the global popularity of competitive fishing. Rising interest in ice fishing, expanding research and development, and the custom of fishing during vacations are other indirect factors driving the market growth. The growing use of e-commerce platforms has increased awareness of the benefits of fishing rods, such as their ability to cast bait in distant waters, and the growing use of social media platforms will all contribute to the development opportunities of the long-term market.
Commodity price changes will severely hamper long-term market expansion. Restrictive fishing regulations imposed by the government and growing environmental concerns can further hamper business growth. The increased attempts to protect and preserve endangered animals and the continuously growing vegan population will once again reduce the growth rate of the market.
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Read the Market Research Report, “Global Fishing Rods Market by Product Type (Baitcasting Rods, Fly Fishing Rods, Spinning Rods, and Others), Raw Material (Bamboo, Fiberglass, Fiberglass) Carbon, Others), Application (Casting Competitive, Recreational, Commercial, Others), Distribution Channel (Online, Offline) and Region – Forecast and Analysis 2022-2028″ by Skyquest
North America was the largest market for fishing rod sales in 2021, accounting for over 45.0% of global sales. People like to hang out near water reservoirs and have made this peaceful activity their passion. Besides being surrounded by water and nature, most fishing spots also offer great places to picnic and spend time with loved ones. Group fishing and small tournaments within the group are therefore very common in the United States. All of these are supported by the physical layout of the aforementioned countries, which contains a significant number of lakes, canals, and other water reservoirs.
With a CAGR of 6.2% from 2022 to 2028, the Asia-Pacific market is expected to witness the fastest growth. Despite the fact that recreational fishing has not gained much popularity in the region, there has been a significant increase in public interest in recent years. Fishing has long been a popular pastime for people in countries like Japan, Australia, and New Zealand. In 2020, 58.5 million people worked in the primary fisheries and aquaculture sector. Although there are fewer fishermen today, in particular because of events in Asia, the workforce in the aquaculture sector has stabilized.
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Over 86% of overall revenue in 2021 was generated through offline methods, an overwhelming majority. People decide to buy the rods after actually using them. The majority of anglers pay great attention to the feel of the equipment in their hands and during use. A successful transaction requires assistance throughout the purchase because a fishing rod is not a product that one uses regularly. Customers are well served by the physical establishments that provide this support.
Across the entire aquatic value chain, including post-harvest activities, women accounted for about 50% of those working full time and about 21% of those directly employed. After taking dependents into consideration, an estimated 600 million people depend on the fisheries and aquaculture sectors for their livelihoods.
The Internet channel is expected to witness a CAGR of 6% between 2021 and 2028. Since these products are newer than their competitors, there is less market for them. Most anglers are over 35 and few have ever shopped on the internet. Online platforms are expected to be more prominent in the coming years as fishing becomes popular among Millennials and Gen Z.
The report published by SkyQuest Technology Consulting provides in-depth qualitative information, historical data and verifiable projections on the size of the market. The projections presented in the report have been derived using proven research methodologies and assumptions.
What does this report bring?
Market estimate for more than 20 countries
Fishing Rods Market Demand by Region, Sub-Region and Country
Customization of segments, regions and company profiles
100+ tables, 150+ numbers
Global, Regional and Country Fishing Rod Market Trends
Comprehensive mapping of fishing rod industry parameters
Attractive Investment Proposition in the Global Fishing Rods Industry
Competitive strategies adopted by key players in the Fishing Rods market
Drivers, Restraints, Opportunities, Challenges and Impact on Fishing Rods Market Size
Market growth rate to 2028
Regulatory scenario, regional dynamics and Fishing Rods market overview of key countries in each region
Detailed market information by region and country
Analysis of market segmentation trends, opportunities and growth
Porter’s five forces analysis to know the state of the market
Fishing Rods Market Price and Sales Analysis
Parent Market Analysis
Benchmark of the product portfolio
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SkyQuest has segmented the global fishing rod market on the basis of product, application, raw material, distribution channel and region:
Global Fishing Rods Market by Product Type (Revenue, USD Billion, 2021-2028)
Fly fishing rods
others), raw material (bamboo, fiberglass, carbon fiber and others), application (competitive, recreational, commercial casting and others), distribution channel (online and offline
Global Fishing Rods Market by Raw Material (Revenue, USD Billion, 2021-2028)
Global Fishing Rods Market by Application (Revenue, USD Billion, 2021 – 2028)
Global Fishing Rods Market by Distribution Channel (Revenue, USD Billion, 2021-2028)
Global Fishing Rods Market by Region (Revenue, USD Billion, 2021-2028)
The rest of Europe
Rest of Asia-Pacific
Central and South America
Rest of CSA
Middle East and Africa
Rest of MEA
Key players in the global fishing rod market
Cabela’s Inc. (USA)
AFTCO Mfg. (United States)
Eagle Claw (US)
Dongmi Fishing (China)
Preston Innovations (UK)
Pokee fishing (Hong Kong)
Tica Fishing (China)
SkyQuest Technology is a leading growth consulting firm providing market intelligence, marketing and technology services. It has more than 450 satisfied customers worldwide.
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