Nearly 12 million units of fishing rods are likely to be sold globally, by the end of 2020. As indicated by a recent outlook by Fact.MR, the fishing rods market has been a significant contributor to several local economies’ buildout via activities, such as recreational and sportfishing. With broader applicability in recreation and tourism sectors, fisheries and associated markets have been witnessing significant growth opportunities over the recent past.

Fact.MR’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 sportfishing and professional angling, particularly across developed regional markets. Steady growth in demand for innovative fishing rods is envisaged as the sportfishing industry is observing a rapid surge in the number of professional angling clubs or associations.

Accounting for nearly 30% of the global sportfishing 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.

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 sportfishing.

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After reading the fishing rods market report, readers get insight into:

Major drivers and restraining factors, opportunities and challenges, and the competitive landscape
New, promising avenues in key regions
New revenue streams for all players in emerging markets
Focus and changing role of various regulatory agencies in bolstering new opportunities in various regions
Demand and uptake patterns in key industries of the fishing rods market
New research and development projects in new technologies in key regional markets
Changing revenue share and size of key product segments during the forecast period
Technologies and business models with disruptive potential

The fishing rods market report offers assessment of prevailing opportunities in various regions and evaluates their shares of revenue by the end of different years of the assessment period. Key regions covered comprise:

North America (U.S., Canada)
Latin America (Brazil, Mexico)
Europe (U.K., Germany)
APEJ (China, India)

The evaluation of the competitive landscape in the fishing rods market covers the profile of the following top players:

Pure Fishing, Inc.
Shimano Inc.
Wright & McGill Co.
Okuma Fishing Tackle Co. Ltd.
Daiwa Corporation
Eposeidon Outdoor Adventure Ltd.
Clam Corporation
TIEMCO Ltd.
Croix Rods
Piscifun

The global fishing rods market report offers detailed assessments and quantitative evaluations that shed light on numerous key aspects that have shaped its evolution over the historical period. In coming years, some of the key aspects that will shape the growth prospects during the forecast period are objectively covered in the study.

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Some important questions that the fishing rods market report tries to answer exhaustively are:

Key strategic moves by various players in the 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 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?