Fishing Rods Market Overview
During the projection period of 2020–2030, the fishing rod market size is anticipated to grow at a value CAGR of 4.5%, representing an absolute dollar opportunity of US$ 1.5 Bn. Spinning rods are expected to increase 1.7 times faster than flying rods in 2020, according to rod type. Casing rods, on the other hand, will hold an 18% market share overall in 2020.
Over the next few years, it is anticipated that increasing numbers of anglers will compete in fishing tournaments and that governments in many nations would fund projects to promote recreational fishing. Higher fishing performance for anglers has been made possible by the development of offshore wind projects in deep water, which poses little interference with fishing operations and recreational boats.
Fishing Rod Types: Spinning Rods & Fly Fishing Rods
One of the most popular rod kinds, spinning rods are anticipated to have 38% of the market share and surpass a US$ 1 Bn valuation by the end of 2020. In windy areas, spinning rods are employed because they make casting easier while the majority of other types of rods fail miserably. Spinning rods continue to be preferred by anglers all over the world due to their user-friendly features, convenience, and versatility as well as their affordability.
Fly fishing rods are becoming more popular as a result of their capacity to cast baits to far-off waters. Additionally, casting with them does not involve reeling. By examining the fly line, skilled anglers can also use them as a strike indicator. From 2020 to 2030, the fly fishing rods market is anticipated to grow at a CAGR of more than 4%.
The highest market share belongs to sporting goods retailers, who account for around 35% of the world's fishing rod sales. Due to the variety of alternatives available in stores, anglers frequently upgrade their fishing rods in an effort to draw in more fish. This is helping to sustain the sales of fishing reels through this sales channel.
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