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Fishing Rods Market to Soar to USD 1,149.64 Million by 2030, Marking a 4.8% CAGR Growth from 2023 to 2030

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Fishing Rods Market to Soar to USD 1,149.64 Million by 2030, Marking a 4.8% CAGR Growth from 2023 to 2030

October 26
22:03 2023
Fishing Rods Market to Soar to USD 1,149.64 Million by 2030, Marking a 4.8% CAGR Growth from 2023 to 2030
The Fishing Rods Market, valued at USD 1,096.98 Million in 2022, is projected to reach USD 1,149.64 Million by 2030, with a Compound Annual Growth Rate (CAGR) of 4.8% from 2023 to 2030, according to a market report.

The Fishing Rods Market is valued at around USD 1,096.98 Million in 2022 and is expected to reach USD 1,149.64 Million by 2030, registering a CAGR of 4.8% over the forecast period.

A fishing rod is a long, thin rod that anglers use to manipulate a line that ends in a hook to catch fish. A fishing rod is, in its most basic form, a straight, rigid stick or pole with a line fastened to one end. Modern rods, however, are typically elastic and typically have the line stored in a reel mounted at the rod handle, which is hand-cranked and controls the line retrieval, as well as numerous line-restricting rings that distribute bending stress along the rod and help dampen/prevent line whipping and entanglement.

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The Fishing Rods Market – Growth Factor

Due to these factors, fishing rod producers have expanded their product lines to include rods appropriate for fishing in extreme weather conditions. Due to its capacity to train the practitioner in terms of enhancing patience as a key skill, fishing has grown in popularity over time. Knowing about rods, hooks, and baits, as well as how to set up rigs and tie knots, combines science and art, which has been difficult as well as creative for people.

Additionally, parents are urging their children to start fishing because it helps them focus and have patience. There are also several short fishing rods available, particularly for children. There are versions of this short rod gear that feature kid-friendly characters. Thus, the growing popularity of fishing among kids and the availability of fishing gear for kids are both contributing to the growth of the fishing rod market.

Fishing Rods Market Dynamics

Drivers

Fishing-Oriented Vacations: The demand for fishing rods is rising as more people take fishing holidays in North America and Europe, at some of the most popular fishing locations in the world.

Rising Global Interest in Fishing Competitions: The popularity of ice fishing, rising personal disposable income, and increased interest in fishing competitions are all driving factors in the market’s expansion.

E-commerce Expansion: The market is anticipated to rise as a result of the development of e-commerce platforms and rising consumer awareness of the advantages of fishing rods.

Restraints

Overfishing and Ecological Damage: Overfishing has depleted marine resources, causing ecological harm that has prompted governments all over the world to enact controls.

Fluctuating Raw Material Prices: Rising environmental concerns, government fishing laws, and fluctuating raw material prices could all impede industry expansion.

The Fishing Rods Market – Trends

• Children’s increased interest in fishing and related pursuits has presented stakeholders with fresh business opportunities.

• Additionally, both adults and kids now enjoy fishing as a leisure activity. Additionally, parents are urging their children to start fishing because it helps them focus and have patience.

• The number of people using various forms of social media has exploded as more people across the globe have access to the internet.

• As a result, the majority of businesses in the fishing rod industry have started to create plans for promoting their products and services on various social media platforms.

• E-commerce is a powerful tactic that many businesses and industries have used to inform their target audiences about the products they have available through e-commerce channels.

The Fishing Rods Market – Segmentation

The Fishing Rods Market fragrance concentrates market has been sub-classified into raw material, product type, application, distribution channel.

On the basis of raw material, the Fishing Rods Market is bifurcated into:

• Bamboo

• Fibreglass

• Carbon fiber

• others

On the basis of product type, the market is segmented into:

• spinning rods

• fly fishing rods

• casting rods

• others

On the basis of application, the market segmented into:

• competitive casting

• recreational

• commercial

• Others

On the basis of distribution channel, the market segmented into:

• Offline

• Online

• Others

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The Fishing Rods Market – Key Market players

Global key players of Fishing Rods Market include TIEMCO Ltd., TICA FISHING TACKLE., St. Croix Rods., SHIMANO INC., POKEE FISHING TACKLE, Ryobi Limited., Preston Innovations., AFTCO, SAGE, Pure Fishing, Inc., S.C. ADDYA & CO. PVT. LTD., R. L. Winston Rod Company, Guangdong Viva Fishing Tackle Industry Co., Ltd, JiuYu Fishing Tackle Co., Ltd., Cashion Fishing Rods, KISTLER Custom Fishing Rods, American Pride Fishing Products, Pride Rods, Moonshine Rod Company, and Rawson Fishing Ltd. among other players.

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