The growing popularity of sport fishing and angling is likely to boost

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Rockville, MD, June 11, 2019 (GLOBE NEWSWIRE) — Nearly 12 million units of fishing rods are expected to be sold worldwide by the end of 2020. As a recent outlook from Fact.MR indicates, the fishing rod market has contributed significantly to building several local economies through activities such as recreational and sport fishing. With wider applicability in the leisure and tourism sectors, fishing and associated markets have seen significant growth opportunities in recent years.

The Fact.MR study finds that beyond conventional consumer interests in adventure and recreation, fishing rod manufacturers have recently discovered benefits through an ever-increasing penchant for sport fishing and fishing. commercial fishing, especially in developed regional markets. A steady growth in demand for innovative fishing rods is expected as the sport fishing industry observes a rapid increase in the number of professional fishing clubs or associations.

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Accounting for nearly 30% of the global sport fishing gear industry in 2018, fishing rods are among the top-selling fishing gear and equipment, which is further expected to flourish with a notable increase in the number of fishing tournaments and line fishing. According to the study, fishing rod manufacturers are currently focusing on micro-level research targeting specific angling requirements, which will remain an important driver of fishing rod sales in the near future.

Casting rods remain sought after by amateur anglers

According to the results, almost 2/5and of total sales are represented by light rods, followed by medium weight rods. The convenience of use coupled with the lighter weight of the rods will continue to be instrumental in creating higher pull for these categories compared to other variants. In addition, spinning type fishing rods are currently the top choice of consumers, accounting for more than 35% of total fishing rod sales. The time-saving and easy-to-master attributes of spinning fishing technique, especially for recreational anglers, are likely to remain the primary factor responsible for maintaining the selling position of spinning rods in the market.

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Regional analysis of the fishing rod market reveals that North America and Europe remain a lucrative market duo for manufacturers, with a major boost received from higher investments in sport fishing and the professional fishing equipment industry. Europe has a remarkable number of trout and salmon waterways, in addition to vast bodies of common fish waters, which continue to make the region an important market for rod makers. Poland was specifically cited as a high-potential market with solid growth opportunities due to a high fishing density of one fisherman per 1.23 ha of lakes, rivers and reservoirs.

The report estimates that after developed regions, the Asia-Pacific ex-Japan (APEJ) fishing rod market is growing at a notable pace. Global players are very likely to seize opportunities in China, ASEAN countries and Oceania. Of these key recreational fishing clusters, Oceania has the highest per capita spending on recreational fishing, attracting rod companies to the APEJ region. Meanwhile, the presence of a large number of quality water bodies and the diversity of fish position Japan as an important market for commercial and recreational fishing and sport fishing.

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According to the strategic analysis of the competition landscape, the majority of fishing rod manufacturers work with popular and award-winning professional anglers for brand endorsement. Additionally, an important finding from Fact.MR’s research points to the emergence of a growing number of outdoor sports and fishing exhibits laying a solid foundation for strategic collaborations and partnerships, contributing to the growth future of the fishing rod market. Business development strategies will also continue to focus on the development of new products that meet versatile ranges, from budget to premium.

This Fact.MR report provides an exclusive perspective of the fishing rods market for the projection period, 2019 to 2029. The fishing rods market is expected to register a CAGR of almost 4.5% through 2029.

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