The Reports and Insights, a leading market research company, has recently releases report titled “Casting Fishing Rod Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2031.” The study provides a detailed analysis of the industry, including the global Casting Fishing Rod Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Casting Fishing Rod Market?
The casting fishing rod market was US$ 821.3 Million in 2022. Furthermore, the casting fishing rod market to register a CAGR of 4.4% which is expected to result in a market forecast value for 2031 of US$ 1307.6 Million.
What are Casting Fishing Rod?
Casting fishing rod is a specialized fishing rod designed for the purpose of casting bait or lures into the water. It is equipped with a reel that enables the angler to control the release of the fishing line and the precise placement of the bait or lure. They are typically paired with baitcasting or spinning reels and are available in various lengths, materials, and action types to accommodate different fishing methods and the specific fish species being targeted. These rods are used in both freshwater and saltwater fishing and are highly regarded for their adaptability to a wide range of angling techniques, including baitcasting, trolling, and vertical jigging.
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What are the growth prospects and trends in the Casting Fishing Rod industry?
The casting fishing rod market is under the influence of a combination of driving factors and emerging trends that significantly impact its growth and development. Firstly, the surge in the popularity of recreational fishing, which has evolved into both a leisure activity and a competitive sport, serves as a major driving factor. This upswing in fishing enthusiasts has led to a heightened demand for high-quality casting fishing rods. Moreover, advancements in rod manufacturing technology, particularly the incorporation of innovative materials like carbon fiber and composites, have led to casting fishing rods with improved strength, sensitivity, and reduced weight, thereby enhancing the angler’s experience and contributing to market growth. Furthermore, a growing emphasis on sustainability and eco-consciousness is exerting an influence on the casting fishing rod market. Anglers are increasingly seeking products and practices that have minimal environmental impact, resulting in the development of eco-friendly rod designs and materials. The prevalence of online retail and e-commerce platforms has significantly expanded the market’s accessibility, allowing anglers to explore a wide range of casting fishing rods, make informed choices, and bolster market growth. Additionally, customization and personalization of fishing gear are on the rise, with manufacturers responding by offering more options to meet individual preferences.
What is included in market segmentation?
The report has segmented the market into the following categories:
- Spinning Rods
- Baitcasting Rods
- Surf Rods
- Trolling Rods
- Telescopic Rods
- Fly Rods
- Carbon Fiber
- North America
- Latin America
- Middle East
Who are the key players operating in the industry?
The report covers the major market players including:
- Shimano Inc.
- Daiwa Corporation
- Pure Fishing, Inc.
- Croix Rods
- Loomis, Inc.
- Abu Garcia
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