Deep Analysis of Impact of COVID-19 on “Fishing Rods Market 2019-2025” Growth Worldwide….



The global fishing rods market size was valued at USD 909.4 million in 2018. Rising adoption of fishing as a recreational activity among the people of various age groups in countries including U.K., Japan, and Australia is expected to promote the market growth. Over time, fishing has gained popularity owing to its ability to train the practitioner in terms of improving patience as a key skill. Knowledge about rods, hooks, and baits, along with the arrangement of rigs and knots, acts as the combination of science and art, which has been challenging as well as creative for the individuals.
In the last few years, angling vacations have gained significant popularity among the people of Europe and North America. People are taking interest in spending their vacations around popular fishing spots across the world, including Connemara (Ireland), Coasts of Scottish Highlands (Midwest), Lake Michigan (Illinois), Salmon River (New York), and Gillhams Resort (Thailand). The calmness around these areas offer a good spot for get together and enjoyment and thus, fishing enthusiasts can be seen taking trips along with the family and friends. This, in turn, is expected to increase the demand for fishing rods in the 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.
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.coming years.
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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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.
Moreover, growing adoption of ice fishing in the recent past is another trend influencing the fishing rods market. Ice fishing has gained popularity in countries including Norway, Bulgaria, France, and Canada, which have a large number of lakes and freezing climatic conditions. This is further boosted by contests held in different parts of the world. For instance, Brainerd Jaycees Ice Fishing Extravaganza is held every January on Gull Lake, Minnesota, wherein more than 15000 anglers participate. These factors have prompted the fishing rod manufacturers to broaden their product range to incorporate rods suitable for fishing during extreme weather.
It has been observed that marine ecosystem has been hampered due to excessive fishing, as it holds a substantial percentage in this destruction. Thus, the governments across the world have been implementing rules, conventions, and licensing restrictions in order to protect the marine life. For instance, the Central Fisheries Board in Ireland regulates angling and controls license distribution in the country.
Spinning rods led the market for fishing rods and accounted for more than 35.0% share of the global revenue in 2018. The segment growth is attributed to its simplicity and effortless application. These products are efficient in throwing lighter lures far in water and complement the crankbaits, jerkbaits, shaky heads, and drop-shotting. Furthermore, these rods are exceptionally useful in fishing in windy place, where most kinds of other rods will fail miserably as it makes casting easier. It also avoids creating backlashes and thus, the use of lures can be skipped.
Fly fishing rods are expected to expand at the fastest CAGR of 5.3% from 2019 to 2025. The product has been gaining popularity owing to its capability for casting baits in distant water. It can cast lures as small as finicky tarpon or a picky trout for the long distance. In addition, it does not require reeling prior to casting. Skilled anglers are able to use it as a strike indicator too by observing the fly line.
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https://www.grandviewresearch.com/press-release/global-fishing-rods-market
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
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.





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