The newly published research study on the Fishing Rods Market by Fact.MR offers a holistic overview of the market with exclusive insights, backed with historical data and forecast on the fishing rods market. A detailed assessment of the market and the factors influencing the fishing rods market growth are also included in the extensive market study. The inclusion of micro- and macro-economic factors that play a crucial role, the market dynamics including trends, challenges, growthopportunities and key market drivers makes this study a crucial business intelligence tool. The reportalso includes segment-wise and region-wise evaluation
Fishing Rods Market in Numbers:
- The fishing rods market registered a CAGR of over 2% during the period 2014 to 2018. The socio-economic aspects of fishing, along with the impact of shark management measures, have been confining growth of the fishing rods industry.
- Global fishing rods market was valued at over US$ 1,000 Mn in 2018. Growth of the fishing rods market has been sustained by the innovative product developments by leading players for retail commodity supply amid intense competition in terms of cost.
- Europe is estimated to remain the leading market for fishing rods market followed by North America in terms of value by 2029-end. A wide range of policies for regulating the fishing activities at EU level, as well as the types of fishing gear and techniques, have been significantly influencing growth of the fishing rods market in Europe.
- The fishing rods market in Asia-Pacific excluding Japan (APEJ) is estimated to grow at a relative faster pace. Sensing the price competitiveness in the retail landscape, development of products to improve the commodity circulation, continues to be the key focus area of fish rods manufacturers in the region.
- Stakeholders in the fishing rods industry are shifting their focus to leverage the opportunities entailed from surging recreational fishing activities worldwide.
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Fishing Rods Market - Key Challenges Impacting Market Growth
- The companies providing fishing gears and equipment are likely to bear the brunt of the ban of commercial fishing - highly witnessed across the Arctic, and the open-ocean fishing in a bid to prevent the exploitation of fish stocks. Moreover, as overfishing alters ecosystems, these initiatives could grow as a growth constraint for the fishing industry as a whole, in turn impacting the fishing rods sales.
- Over the past decade, lead used in fishing tackles have been associated with the mortality of water birds, leading to the ban on these products. This has created a demand for the non-lead fishing tackle variants, whose production results in nearly twice the cost than the former variants.
Fishing Rods Market â€" Deep-dive into the Competition Landscape
Â The globalÂ fishing rod marketÂ is fragmented in nature, wherein the leading companies accounts for nearly one-fifth share of the market, while the rest is governed by emerging players. Leading players in the fishing rods market are focusing on enhancing their portfolio, while strengthening their distribution network, and appealing popular anglers to represent as their brand ambassadors, in a bid to enhance their brand image.
Â The fishing rods market continues to grow at a steady pace, registering low-to-moderate growth in developed markets, whereas a slightly better expansion in developing markets. Low-entry barriers led to an influx of startups in the fishing rods landscape, which further added to the already intense competition. While stronger distribution remains the mainstay of leading players in the fishing rods market, emerging players are focusing on maintaining long-term relationships with existing suppliers.
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