The global fishing rods market size is expected to reach USD 1.3 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.8% over the forecast period. Growing adoption of angling as a hobby is creating a drift in the market. Furthermore, angling is getting a commercial focus from the current business operating across the entire aquaculture sector.
Along with the manufacturers innovating the products, a constant strategic action by these companies has been witnessed in the industry. Over the past few years, the rod manufacturers have been organizing large fishing festivals. Use of social media helps in propagating the news and thus, create an interest among the beginners for angling as a recreational activity, thereby promoting the use of rods.
These manufacturers are also hosting and sponsoring some of the largest angling competitions in the world annually, where thousands of anglers participate and love to showcase their angling skills. Fishing has also become a rescue from the busy and noisy city life for its practitioners. The calm and serene environment around the water reservoirs and an opportunity to practice a peaceful art are attracting people towards angling. People have started taking fishing centered vacations, where they spend a majority their time performing the activity. This, in turn, is driving the global fishing rods market.
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Some of the key players are AFTCO Mfg.; Cabela’s Inc.; Dongmi; Eagle Claw; Preston Innovations; RYOBI; Shakespeare; Shimano; St. Croix; Tica; Tiemco; and Weihai Guangwei Group. Product innovation seems to be the most central strategy for the manufacturers. Myriads of products are available in the market to cater to unique demands of every angler from light weight to heavy weight rods as well as from slow action to very fast action rods. These products have been innovated on the basis of the reservoir one prefers to catch fish in, as there are different rods for ice, freshwater, and saltwater fishing. Moreover, innovation has been done on the basis of one interest in angling a certain kind of fish depending on its shape, size, and weight.
Further key findings from the report suggest:
• By product, spinning rods accounted for the largest share of over 35.0% share in 2018 due to its operational simplicity and popularity among the amateurs. Fly fishing rods are expected to expand at the fastest CAGR of 5.3% from 2019 to 2025
• By raw material, bamboo accounted for more than 40.0% share of the global revenue in 2018 owing to its convenient pricing and durability
• The recreational application segment accounted for more than 50.0% share of the global revenue in 2018. The commercial segment is expected to expand at the fastest CAGR of 5.5% from 2019 to 2025.
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Grand View Research 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
• Fly Fishing
• Casting
• Others
Fishing Rods Raw Material Outlook (Revenue, USD Million, 2015 - 2025)
• Bamboo
• Fiberglass
• Carbon Fiber
• Others
Fishing Rods Application Outlook (Revenue, USD Million, 2015 - 2025)
• Competitive Casting
• Recreational
• Commercial
• Others
Fishing Rods Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
• Online
• Offline
Fishing Rods Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
o U.S.
• Europe
o U.K.
o Germany
o France
• Asia Pacific
o Japan
o Australia
o New Zealand
• Central & South America
• Middle East & Africa
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