The global fishing rods market size is expected to register a revenue of USD 1.3 billion by the end of 2025, according to a new report by Million Insights. It is expected to grow with a CAGR of 4.8% from 2019 to 2025. This growth can be attributed torising trend for carrying out recreational fishing activities across developed regions like North America and Europe.
The spinning rod segment held the largest share of 35.0% across the global market in 2018 owing to its property of effortless application and simplicity. The fly fishing rods segment is anticipated to witness the highest growth with a CAGR of 5.3% from 2019 to 2025. This can be attributed to its increasing popularity due to its ability for casting the baits even at longer distances.
The recreational fishing application segment held the largest share of around 50.0% across the global market owing to rising preference for spending vacations at destinations that are popular for fishing. The commercial application segment is anticipated to witness the highest growth with 5.5% CAGR from 2019 to 2025. This method is being implemented by commercial fishermen and the ones who sell premium fishes that are not easily available.
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The offline segment of distribution channel held the largest share of more than 85% across the global fishing rods market due to rising preference among buyers for physical verification of the product. The online distribution channel is anticipated to witness highest CAGR of 5.7% during the forecasted years. This growth can be associated with rising influence of the internet, smartphones and various e-commerce platforms.
The bamboo-based fishing rods segment held the largest share of around 40% across the global market. The raw material segment of fiberglass is anticipated to register the highest CAGR of 5.3% during the forecast period, 2019 to 2025 owing to its usage for catching huge fishes like walleye, muskie, and pike.
The market in North America held the largest share exceeding 40.0% across the global market in 2018 owing to rising interest among the millennial population to spend time on activity like fishing. Asia Pacific is anticipated to register the highest growth rate with a CAGR of 5.6% from 2019 to 2025.
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Further key findings from the report suggest:
• The spinning rod segment held the largest share of more than 35.0% across the global market in 2018.
• The application segment for recreational fishing held the largest share of around 50.0% across the global market.
• The fiberglass raw material segment is anticipated to register the highest CAGR of 5.3% during the forecasted years, 2019 to 2025.
• Key players in the fishing rod market are Cabela’s Inc.; Eagle Claw; AFTCO Mfg.; Dongmi Fishing, Shakespeare; and Tiemco.
Million Insights has segmented the global fishing rods market on the basis of product, raw material, application, distribution channel, and region:
Fishing Rods Product Outlook (Revenue, USD Million, 2015 – 2025)
• Spinning Rods
• Fly Fishing Rods
• Casting Rods
Fishing Rods Raw Material Outlook (Revenue, USD Million, 2015 – 2025)
• Carbon Fiber
Fishing Rods Application Outlook (Revenue, USD Million, 2015 – 2025)
• Competitive Casting
Fishing Rods Distribution channel Outlook (Revenue, USD Million, 2015 – 2025)
Fishing Rods Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• New Zealand
• Central & South America
• Middle East & Africa
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