Casting Fishing Rod Market Size, Share, Growth And Industry Analysis By Type (Saltwater Rods, And, Freshwater Rods) By Application (Individual, And, Commercial), Regional Forecast To 2031

Updated On: 08 April 2024

Casting Fishing Rod Market REPORT OVERVIEW

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The global casting fishing rod market is expected to grow from USD 356.2 million in 2021 to USD 534.16 million by 2031 at a CAGR of 4.1% from 2021 to 2031.

A casting fishing rod is a type of fishing rod that is used for the purpose of optimizing the process of casting the line. It  will also allow the fisherman to bait with a baitcasting reel. It can use and accept a casting reel. Because of its structure, it can help in easier fishing.

People visiting picnic spots have increased post pandemic. With the increase in outdoor activities, liking towards fishing has also increased. This is considered as the latest trend in the market.

Casting rods help in precisely catching fishes because of their features. Several fishing contests are being organized. Ice fishing has gained prominence. All of these factors are generating a robust growth in the casting fishing rod market share.

COVID-19 impact: Reduction in Fishing Activities During Pandemic Decresed Market Growth

The pandemic of COVID-19 was the prime reason for the drastic downfall of tshares of most of the markets worldwide. The major reason for the downfall of all markets can be attributed to the decrease in the outdoor activites of people.

Several precautionary measures were taken up by the government bodies to prevent the spreading of infectious coronavirus. Lockdowns became mandatory. As a result there was a sudden decrease in the outdoor activities like picnics, and fishing activities. Decrease in fishing activities resulted in the downfall of the casting fishing rod market growth.

LATEST TRENDS

"Growing prevalence of People to Take Up More Vacations to Increase Market Growth"

Post pandemic, the number of people going on vacations has increased considerably. Angling vacations have become highly popular among people today. This trend has become prominent in regions like North America and Europe.  

There are many fishing spots in certain regions of Europe and North America like Connemara in Ireland, Gillhms Resort in Thailand, and Salmon river in New York. These popular spots receive several visits from tourists. With an increase in interest towards fishing, the demand for casting fishing rods have grown. This is considered as the latest trend in the market.

Casting Fishing Rod Market SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following segments:

Saltwater rods, and, freshwater Rods. The saltwater rods segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

Individual, and, commercial. The individual segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Several Benefits of Using Casting Rods to Accelerate Market Growth"

Cating rods are also known as baitcasting rods. They are called so because they come with baitcasting reel. The main advantage of using such rods is they help in catching fishes very precisely. Many people prefer using these rods as they provide accurate pinpoint and will also help in developing the skills as an angular.

Casting fishing rods are incorporated with a trigger which will increase the control over fishing. These rods are considered to be ideal for sight fishing and also in situations where heavy lures will have to be cast. All of these features of casting fishing rod has constributed in increasing the market share.

"Fishing Contests Being Held Across Different Nations to Propel Market Growth "

Another important factor that has helped in the growth of the market is the fishing constests that are being organized around the world. Fishing rods and supplies are an essential in such competitions. Casting fishing rods are given more preference as they simplify the process of fishing.

Some of the examples of of fishing contests that are being held include Minnesota, and fishing Extravganza. People come in large numbers to participate in such events. Ice fishing has become a famous  sport  in the market. Countries like France, Canada, and Norway have several large lakes and ice fishing has gained popularity here. All of these factors are propelling the market development.

RESTRAINING FACTOR

"Desruction of Natural Water Bodies in the Past Few Decades to Decrease Market Growth"

One of the most prevelant problems that is being faced by today’s generation is environmental concerns. Decades of negligence towards our environment has led to the destruction of most of the natural resources, especially water bodies. With the decline in water bodies, all the aquatic animals are facing a major threat. Some factors have become responsible for the decline of marine ecosystems.

Mixing of factory residuals into water, variations in the Ph levels of water, and excessive contamination of water are depleting the marine life. Therefore, government authorities have taken initiatives to bring up policies that will impose strict ban on fishing. With restrictions imposed on fishing the casting fishing rod market is facing decline.

Casting Fishing Rod Market Regional Insights

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"North America to Dominate Market Share in The Upcoming Years"

North America holds the largest market share, as it occupies almost one-fourth of the market share.The reason for rapid growth of the market during research period in North America is the growing passion of people towards fishing. Many people have adopted fishing astheir hobby and recreational activity.

Casting fishing rods help in easy fishing. Many of the the fishing spots are situated in a very calm and peaceful surrounding. Therefore they have become major tourist attractions in places like Switzerland, Norway, and Belgium. Numerous people are attracted to such spots. All of these factors have amplified market growth in the North American region.  

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Daiwa (China)
• Pure Fishing (U.S.)
• Shimano (Japan)
• Dongmi Fishing (China)
• Weihai Guangwei Group (China)
• St. Croix Rods (U.S.)
• Cabela's Inc. (U.S.)
• RYOBI (Japan)
• Eagle Claw (U.S.)
• Okuma Fishing (Japan)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. A list of the key industry players have also been mentioned to give a view of the competition in the market.