Asia: Fishing Rod Market 2024

Fishing Rod Market Size in Asia

In 2021, the Asian fishing rod market decreased by -14.7% to $X, falling for the second consecutive year after three years of growth. In general, consumption continues to indicate a mild downturn. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Fishing Rod Production in Asia

In value terms, fishing rod production totaled $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 7.7% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Fishing Rod Exports

Exports in Asia

In 2021, overseas shipments of fishing rods and other line fishing tackle increased by 32% to X tons, rising for the sixth year in a row after two years of decline. The total export volume increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, fishing rod exports surged to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +62.8% against 2014 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, amounting to X tons, which was near 85% of total exports in 2021. South Korea (X tons), Japan (X tons), Vietnam (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +5.5% from 2012 to 2021. At the same time, Vietnam (+8.0%), Japan (+1.6%) and South Korea (+1.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +8.0% from 2012-2021. Hong Kong SAR experienced a relatively flat trend pattern. While the share of China (+5.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest fishing rod supplier in Asia, comprising 65% of total exports. The second position in the ranking was taken by Japan ($X), with a 9.3% share of total exports. It was followed by Vietnam, with a 5.1% share.

In China, fishing rod exports expanded at an average annual rate of +8.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+3.7% per year) and Vietnam (+13.3% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, surging by 5.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.0%), while the other leaders experienced more modest paces of growth.

Fishing Rod Imports

Imports in Asia

In 2021, fishing rod imports in Asia skyrocketed to X tons, jumping by 34% against the year before. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +73.4% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, fishing rod imports skyrocketed to $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +63.3% against 2014 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X tons), South Korea (X tons) and Indonesia (X tons) represented the major importer of fishing rods and other line fishing tackle in Asia, comprising 57% of total import. It was distantly followed by Thailand (X tons) and Hong Kong SAR (X tons), together generating a 16% share of total imports. Singapore (X tons), Kazakhstan (X tons), Taiwan (Chinese) (X tons), China (X tons), the United Arab Emirates (X tons), the Philippines (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Thailand (with a CAGR of +21.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported fishing rods and other line fishing tackle in Asia, comprising 40% of total imports. The second position in the ranking was taken by South Korea ($X), with a 13% share of total imports. It was followed by China, with a 10% share.

In Japan, fishing rod imports expanded at an average annual rate of +6.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+12.6% per year) and China (+11.4% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, shrinking by -3.7% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the import price increased by 6.2% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2020, and then shrank modestly in the following year.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :