Published Date : 16 Jan 20 | Views: 205 | Industry : Sports
Light
Weight and Durable Rods are likely to Augment the Growth of the Fishing Rod
Segment
The
product segment of the market is divided into Fishing rod, Fishing reels,
Fishing lines, Fishing lures, Fishing hooks, Fishing flies, Fishing net, Fishing
bait, and Others. Increasing participation in fishing and recreational fishing
activities has led to rising demand for the fishing rod. These fishing rods are
durable and lightweight and can easily pull fish out of water. Customers are
also buying fishing rods which help in reducing human effort making fishing
experience hassle free and enjoyable. This is likely to augment the growth of
the fishing rod segment. The distribution channel of the market is segregated
into the offline and online segments.
Presence
of Several Water bodies and the Availability of Fish in North America is Likely
to Boost the Market Growth
North
America holds a significant share of the market due to the popularity of
fishing as an activity. The presence of several water bodies and the
availability of fish in the region is expected to propel the growth of the
regional market. The rapid surge in professional angling along with increasing
participation angling clubs and associations is contributing to the growth of
themarket.
Key
Players Keen to Manufacture Advanced Fishing Equipment
Some
of the key players operating in the Sports Fishing Equipment market are
EagleClaw Midstream Services, LLC, Okuma Fishing Tackle Corporation, O. Mustad
& Son A.S., Shimano Inc., Newell Brands Inc., Rapala VMC Corporation,
Gamakatsu, Newell Brands Inc., and Aftco Mfg. Co., Inc.
Growing
Popularity of Fishing is likely to Boost the Market Growth
The growing popularity of fishing as a sport has resulted in high demand for Sports Fishing Equipment. Support from the government for the improvement in fishing infrastructure to promote the development of coastal areas around the globe is likely to foster the growth of the market. Fishing competitions, programs, events, and recreational activities are responsible for driving the growth of the sport fishing equipment market. Manufacturers offering smart fishing equipment with sensors, which can be connected to smartphones to track activities and to locate fishing spots is likely boosting the growth of the Sports Fishing Equipment market in the future.