Fishing Rods Market Analysis Report By Product, By Raw Material, By Application, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global fishing rods market size was accounted for USD 909.4 million, in 2018. The market is expected to witness a CAGR of 4.8%, during the forecasted years, 2019 to 2025. This growth can be attributed to an increasing preference for activities like fishing among the millennial population. Moreover, rising knowledge about hooks, baits, and rods among the buyers is acting as one of the major factors driving the market growth.

The popularity of angling vacations is increasing at a significant rate across the developed regions of North America and Europe. Popular fishing locations like Lake Michigan (Illinois), Gillhams Resort (Thailand), Salmon River (New York), and Connemara (Ireland) are gaining attraction among tourists all over the world. Peace and serenity across these locations are anticipated to boost the fishing activity thereby increasing the market demand for fishing rods during the forecasted years, 2019 to 2025.

An emerging trend for ice fishing has also increased in the last few years across countries like Bulgaria, Norway, Canada, and France. This can be attributed to the rising number of ponds, lakes, and the presence of snow across such regions. Moreover, the rising number of campaigns and contests across these regions is expected to propel the market demand for fishing rods. For example, the contest named Brainerd Jaycees Ice Fishing Extravaganza is conducted every year in Minnesota for anglers.

The marine ecosystem gets hampered due to extensive fishing activity due to the decrease in the number of fish.  Thus, the governing bodies have started imposing several restrictions, regulations, and rules for carrying out such activities. For example, the Fisheries Board of Ireland has started implementing controls over licensing to carry out fishing activities. These are anticipated to act as a hindrance to the market growth for fishing rods.

Products Insights

The product segment of spinning rods held the largest share of 35.0% across the global fishing rod market. This can be associated with its property of effortless application and simplicity. Moreover, these rods help in throwing the lures at a long distance in the water. Moreover, usage of these rods in carrying out fishing activities at windy places thereby facilitating the process of casting.

The product segment of fly fishing rods is anticipated to witness the highest growth with a CAGR of 5.3% during the forecasted years. This can be attributed to increasing popularity due to its ability for casting the baits even at longer distances. In addition, it does not require the process of reeling before casting. Thus, the market for such products is anticipated to increase due to their rising usage among commercial fishermen.  

Application Insights

The application segment of recreational fishing held the largest share of more than 50.0% across the global market. This can be associated with the rising preference for spending vacations at destinations that are popular for fishing. Moreover, the initiatives undertaken by the governing bodies to promote fishing activity to maintain good and healthy marine life coupled with the revenue generation from such activity are anticipated to drive the market growth further.

The commercial application segment is anticipated to witness the highest growth with a CAGR of 5.5% during the forecasted years. As the demand for fish is increasing significantly, the need for the usage of multiple hooks to catch a school of fishes like yellowfin, bluefin, billfish, marlin, tuna, sailfish, sablefish, halibut, and swordfish are increasing. This method is being implemented by commercial fishermen and the ones who sell premium fishes that are not easily available. As the demand for such exotic fishes is increasing due to rising disposable income among the millennial population, the commercial application segment is projected to show a significant growth rate during the forecasted years, 2019 to 2025. 

Distribution Channel Insights

The offline segment of the distribution channel held the largest share of more than 85% across the global fishing rods market. This can be associated with the preference among buyers for physical verification of the product before making the purchase decision. Moreover, the need for assistance while purchasing the product as per the desired specifications is being provided by the brick and mortar sellers.

The online distribution channel is anticipated to witness the highest growth with a CAGR of 5.7% during the forecasted years. This growth can be associated with the rising influence of the internet, smartphones, and various e-commerce platforms like Amazon, Alibaba, Walmart, and Flipkart. As the majority of the anglers have their age of more than 35 years, they are less prone to the usage of the internet but the upcoming generation Z is anticipated to drive the market growth owing to their rising interest in online purchasing.

Raw Material Insights

In 2018, the raw material segment of bamboo-based fishing rods held the largest share exceeding 40% across the global market. They are most commonly used in water bodies that are small to medium in size and water bodies that have still water. Various salient features like moderately loaded weight help in casting the lengths with short lines easily. In addition, cushioning effect and slight angling situation helps in accurate casting and decreasing heavy lure bounces. Moreover, a shorter length of rods also helps in shock-absorbing thereby stopping the fish. Thus, the market for such fishing rods is anticipated to witness significant growth in the upcoming years.

The raw material segment of fiberglass is anticipated to register the highest CAGR of 5.3% during the forecast period, 2019 to 2025. This growth can be attributed to its usage for catching huge fishes like walleye, muskie, and pike coupled with the usage of structural or electrical glass for its production. Moreover, lower-cost prices as compared to the rest of the product segments are also expected to positively impact the market growth in the upcoming years.

Regional Insights

In 2018, North America held the largest share exceeding 40.0% across the global market. This growth can be attributed to rising interest among the millennial population to spend time on activities like fishing. Moreover, most of the angling spots required for fishing are located near greenery and near water reservoirs. Therefore, they provide an excellent spot for camping and family picnics. Moreover, angling contests being undertaken across countries like Canada and the U.S. are anticipated to fuel up the market demand for fishing rods in the upcoming years.

Asia Pacific is anticipated to register the highest growth rate with a CAGR of 5.6% during the forecasted years. In this region, good growth in common mass interest for conducting activities like fishing is seen.  Moreover, the rising interest in recreational fishing activity across countries like Australia, New Zealand, and Japan is expected to boost in the upcoming years, thereby increasing the demand for fishing rods across the globe.

Fishing Rods Market Share Insights

The market for fishing rods includes key players such as Cabela’s Inc.; Eagle Claw; AFTCO Mfg.; Dongmi Fishing, Shakespeare; Tiemco; Weihai Guangwei Group; St. Croix; Shimano; Shakespeare; and Pokee Fishing. These manufacturers always take into consideration, the requirements as specified by the buyers to facilitate the activity of fishing. Thus, they have started providing angling tackles to their products. For example, AFTCO Mfg. has started offering angling shirts, shorts, and other accessories for kids, women, and kids. Moreover, they have also started conducting various angling contests and championships to create brand awareness among buyers.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global fishing rods market report based on product, raw material, application, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Spinning Rods
    • Fly Fishing Rods
    • Casting Rods
    • Others

• Raw Material Outlook (Revenue, USD Million, 2015 - 2025)
    • Bamboo
    • Fiberglass
    • Carbon Fiber
    • Others

• Application Outlook (Revenue, USD Million, 2015 - 2025)
    • Competitive Casting
    • Recreational
    • Commercial
    • Others

• Distribution channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Online
    • Offline

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • U.K.
        • Germany
        • France
    • the Asia Pacific
        • Japan
        • Australia
        • New Zealand
    • Central & South America
    • Middle East and Africa