Rising participation in fishing competitions and support for recreational fishing initiatives from governments of various countries are expected to drive the expansion of the fishing rods market size over the coming years. Development of offshore wind projects in deep water, which poses low intervention with fishing activities and recreational boating, have been enabling higher fishing performance for anglers. Rise in offshore wind farm projects will continue to benefit the sales of fishing rods.
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Moreover, number of funding schemes offered by governments for recreational fishing projects, in light of the social and economic value of recreational fishing, is likely to push demand for recreating fishing gear, thereby creating significant demand in the fishing rods market. Engagement of fishing enthusiasts on social media and other digital platforms for sharing their catches and other fishing novelties is likely to promote participation, thereby aiding the growth of the fishing rods market.
Fishing Rods Market Insights by Rod Type
Spinning rods are one of the most prominent rods types, and are expected to account for 38% of the market share by crossing a valuation of US$ 1 Bn by the end of 2024. Spinning rods are used at a windy places, as it makes casting easier, while most kinds of other rods fail miserably. User-friendly attributes and convenience of spinning rods, along with their versatile and low-cost nature, continue to underpin their preference among fishing enthusiasts worldwide.
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Fly fishing rods are gaining traction owing to theirs capability of casting baits in distant waters. Also, they do not require reeling before casting. Skilled anglers can use them as a strike indicator too by observing the fly line. The fly fishing rods segment is expected to expand at CAGR of over 4% from 2024 to 2030.
Fishing Rods Market Insights by Distribution Channel
Sports stores accounted for the largest share, and contribute nearly 35% of the global fishing rods market. Anglers regularly upgrade their fishing rods in order to attract more fish, owing to the availability of different options in stores, which is supporting the sales of fishing reels through this sales channel.
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Some important questions that the Casing fishing Rods Market report tries to answer exhaustively are:
- Key strategic moves by various players in the Casing fishing Rods Market in recent years with respect to product launches, deals and tie-ups, and mergers and acquisitions, and divestment of shares
- Which strategies will enable top players in the Casing fishing Rods Market to expand their geographic footprints
- Which new business models are expected to change the course of growth of key regional markets in near future
- Which technologies will witness most attractive research investments and what will be the key sources of funding for startups and new entrants
- Which products segments have in recent years have seen new, lucrative application areas
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