A fishing rod is a tool used in recreational fishing or sport fishing that consists of a line and a long pole. Accessories required for sports fishing/recreational fishing includes reel, lures & baits, hooks & sinkers, fishing lines & leaders, nets, and others. Generally, the line is kept in storage on a reel that the angler spins to both let out and take up the line while casting. A hook holds the bait at the loose end of the line. Either artificial lures or live insects and worms, as well as sinkers and bobbers (or floats) are used to keep the bait at the proper level in the water.
Europe holds maximum share in the fishing rods and accessories market globally, followed by North America and Asia Pacific.
Europe and North America are mature markets for fishing rods and accessories. Increasing demand for technologically advance fishing rods and accessories in Europe is anticipated to boost the fishing rods and accessories market in the coming years. The U.K. and France are significant fishing rods and accessories markets in Europe. Companies operating in the market mainly focus on offering technologically upgraded products to deal with the competition and maintain their customer base.
North America is the second largest market for fishing rods and accessories across the globe. Key manufacturers in the U.S. such as Pure Fishing, Inc. and St. Croix Rods specialize in manufacturing fishing rods.
The Asia Pacific fishing rods and accessories market is projected to expand at the highest CAGR during the forecast period. Growing prominence of fishing vacations, rise in fishing destinations in Southeast Asia, and establishment of fishing resorts are some of major factors expected to drive the growth of the market in the region.
Manufacturers of fishing rods and accessories focus on product innovation and expanding their presence all over the world to endure the intense competition. Fishing rods and accessories are increasingly demanded by recreational fishers and sports fishing enthusiasts.
Manufacturers are also focusing on developing fishing rods and accessories especially for female anglers.
Factors such as rising participation in sports fishing competitions, government support for recreational fishing initiatives, and growing enthusiasm of fishers are projected to drive the demand for fishing rods and accessories worldwide. Additionally, increasing participation of women in sports fishing is also expected to drive the market. A number of sports fishing events and competitions organized worldwide are specially targeting women anglers. ‘Ladies Annual Fish-Off,’ one of the largest female fishing tournaments in South Florida, U.S. is attracting more women to the sport.
However, growing popularity of other leisure activities (computer games, mobile games, etc.) and the time consuming and pricy fishing license procedure in some parts of the globe are factors anticipated to hamper the growth of the market during the forecast period.
The global fishing rods and accessories market has been segmented based on product, water type, rod material, distribution channel, and region.
Product Type - In terms of product type, the global fishing rods and accessories market has been classified into rod, and accessories. Rods are segmented into casting rods, spinning rods, fly rods, and others. Accessories are segmented into reel, lures & baits, hooks & sinkers, fishing lines & leaders, nets, and others.
Water Type - In terms of water type, the global fishing rods and accessories market has been segmented into freshwater and salt water.
Rod Material - In terms of rod material, the market has been bifurcated into bamboo rods, graphite rods, and fiberglass rods.
Distribution Channel - The market has been bifurcated into online and offline, based on distribution channel, where the offline segment has been further divided into hypermarkets/ supermarkets, and specialty stores.
Region - Based on region, the market is classified into North America (U.S, Canada, and Rest of North America), Europe (U.K, Italy, France, Germany, and Rest of Europe), Asia Pacific (India, China, Japan, and Rest of Asia Pacific), Middle East & Africa (GCC, South Africa, and Rest of Middle East & Africa), and South America (Brazil, and Rest of South America)
The fishing rods and accessories market is fragmented due to the presence of numerous established and local players. Rivalry among manufacturers is expected to increase in the coming years due to technologically advanced products offered by both established and local players.
Key companies profiled in the fishing rods and accessories research report include Globeride, Inc., Shimano, Inc., St. Croix Rods, Pure Fishing, Inc., Okuma Fishing Tackle Co., Ltd, R. L. Winston Rod Company, SAGE, Weihai Huayue Sports Goods Co., Ltd., Bruce & Walker, and L Wilson & Co Pty Ltd..