FactMR’s study opines that surpassing the conventional consumer interests of adventure and recreation, fishing rods manufacturers have been recently discovering profits in consistently rising penchant for sport fishing and professional angling, particularly across developed regional markets. Steady growth in demand for innovative fishing rods is envisaged as the sport fishing industry is observing a rapid surge in the number of professional angling clubs or associations.
The global fishing rods market analysis report also provides an in-detailed analysis of the overall vendor landscape. The report analyzes the key marketing and promotional strategies adopted by the leading companies in the global market. Furthermore, it takes into consideration the existing development, past events, and recent trends to provide a strong and unbiased opinion on the future direction in which these leading companies will be heading into. To back its opinion, the research report covers all the factors and events such as mergers, acquisitions, takeovers, joint ventures, and strategic alliances.
Accounting for nearly 30% of the global sport fishing equipment industry as of 2018, fishing rods have been among high selling fishing gear and equipment, which is further estimated to thrive with a noteworthy rise in the number of fishing and angling tournaments. According to the study, fishing rods manufacturers are currently focused on micro-level research targeting specific angling requisites, which will remain an important booster to fishing rods sales in the near future.
Spinning Rods Remains Sought-after among Amateur Anglers
As per the findings, nearly 2/5th of total sales is accounted by lightweight rods, followed by the rods within a medium weight range. Convenience of use associated with lighter weight of fishing rods will continue to be instrumental in creating higher traction for these categories over other variants. Moreover, spinning type of fishing rods is currently the first choice of consumers, accounting for over 35% of total fishing rods sales. Time-saving, easy-to-master attributes of spinning tackle technique, particularly for amateur anglers, is likely to remain the prominent factor responsible for retaining the top selling position of spinning rods in market.
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The report opines that following developed regions, the market for fishing rods in Asia Pacific excluding Japan (APEJ) is progressing at a notable pace. Global players are highly likely to eye opportunities arising in China, ASEAN countries, and Oceania. Among these key recreational fishing clusters, Oceania registers the highest per capita spending on recreational fishing, thereby attracting fishing rods businesses to the APEJ region. Meanwhile, the presence of a large number of quality water bodies and fish diversity are positioning Japan as a strong market for commercial and recreational fishing, and sport fishing.
This FactMR report provides an exclusive outlook of the fishing rods market for the projection period, 2019 to 2029. The fishing rods market is projected to record a CAGR of nearly 4.5% through 2029. According to the strategy analysis of the competition landscape, a majority of fishing rods manufacturers are collaborating with popular, award-winning professional anglers for brand endorsement.
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To provide an in-detailed analysis of the potential opportunities, the research report takes into consideration of the several growth factors across different regional segments. The important geographical segments of the global fishing rods market are as follows:
- North America (Canada, US)
- Latin America (Argentina, Mexico)
- Europe (NORDIC, UK)
- Japan and MEA
- APEJ (China, India)