Rockville, Feb. 05, 2024 (GLOBE NEWSWIRE) -- As per the latest industry analysis by Fact.MR, a market research and competitive intelligence provider, the global Fishing Rod Market is estimated at US$ 1.29 billion in 2024 and is forecasted to reach US$ 1.98 billion by the end of 2034.
The market is being driven by a combination of technological advancements, changing consumer preferences towards modern fishing equipment, and the increasing popularity of recreational fishing. The fishing rod, a fundamental tool in the sport of angling, is evolving significantly to meet the diverse needs of anglers worldwide.
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Key Segments of Fishing Rod Market Research Report
| By Rod Type | By Rod Weight | By Flex Type | By Sales Channel | By Region |
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Integration of smart technologies into fishing rods is a prominent trend driving market growth. Sensors, Bluetooth connectivity, and GPS features are enhancing anglers’ experience, providing real-time data, connectivity with mobile devices, and smart functionalities. Continuous exploration of advanced materials, including graphene and nano-composites, is further driving innovation in fishing rod design. Manufacturers are focusing on creating rods with optimal strength, sensitivity, and durability to meet the demands of modern anglers.
Shift toward online purchasing is also reshaping market growth. e-Commerce platforms offer a vast array of fishing rods, providing customers with convenience, extensive product information, and the ability to compare and choose from a diverse range of options. Surge in recreational fishing activities worldwide is a key factor driving sales of fishing rods. As more individuals are engaging in fishing as a leisure activity, the demand for high-quality fishing rods is on the rise.
Key Takeaways from Market Study
- Global demand for fishing rods is projected to increase at a CAGR of 4.4% through 2034.
- The United States market is projected to reach US$ 425.1 million by 2034-end.
- Sales of fishing rods in Japan are estimated at US$ 147.8 million for 2024.
- The market for full flex fishing rods is forecasted to reach US$ 8.37 billion by the end of 2034.
“Rapidly growing fishing tourism boosting demand for specialized fishing rods with travel-friendly and purpose-specific features,” says a Fact.MR analyst.
Competitive Analysis
Leading manufacturers of fishing rods are Shimano Inc., Pure Fishing Inc., St. Croix Rods, and Daiwa Corporation. Leading companies are dominating the market with a strong product portfolio, technological prowess, and extensive distribution networks.
Industry leaders are continually launching innovative products to stay ahead. They are introducing smart fishing rods with advanced materials, and those designed for specific fishing techniques, catering to diverse consumer preferences. Companies are also expanding their global footprint through strategic acquisitions, partnerships, and entering new markets. Global expansion is helping companies to tap into emerging opportunities and increase their revenues.
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| Report Attribute | Details |
| Value Projection (2034) | US$ 1.98 Billion |
| Growth Rate (2024-2034) | 4.4% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 87 Tables |
| No. of Figures | 216 Figures |
Enhanced Casting Precision and Control Drive the Surge in Full Flex Fishing Rods
Full flex fishing rods, alternatively labeled as slow-action or parabolic rods, offer a distinctive curvature along their entire length, presenting a suite of advantages tailored to specific angling preferences and scenarios. Their unique design enables a deeper and more precise bend, particularly beneficial for casting accuracy, notably in scenarios demanding precision like fly fishing in confined spaces or amidst obstacles.
The slower action characteristic of full flex rods aids in absorbing shocks and sudden movements during casting and retrieval. This shock absorption proves advantageous for delicate presentations, reducing the likelihood of startling fish. Moreover, the slower action facilitates a gentler hook set, decreasing the risk of line breakage or lost catches.
Anglers valuing prolonged and engaging battles with fish often favor full flex rods, as their slow action prolongs the fight, intensifying the thrill for those relishing the challenge of landing a catch.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the globalfishing rod market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights on the market based on rod type (spinning rods, casing rods, ice fishing rods, fly rods, surf rods, telescopic rods), rod weight (ultra-light, light, medium, medium heavy, heavy, extra heavy), flex type (tip flex, mid flex, full flex), and sales channel (supermarkets/ hypermarkets, sports stores, specialty stores, online stores, direct procurement), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
Checkout More Related Studies Published by Fact.MR Research:
Sports Fishing Equipment Market: The global sports fishing equipment market is projected to expand steadily at a CAGR 5.2% value, during the forecast period 2023-2033.
Fishing Tackle Box Market: The global fishing tackle box market is valued at USD 24,799.38 Million in 2022 and is anticipated to cross a valuation of USD 37,421.23 Million by 2032.
Fishing Reels Market: In FY 2023, the fishing reels market reached a valuation ofUS$ 6 Billion, and is, Furthermore, across the 2023-2033 period of assessment, growth is expected to accelerate at a4.1%CAGR, reachingUS$ 9 Billion.
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