Asia-Pacific: Fishing Rod Market 2024

Fishing Rod Market Size in Asia-Pacific

In 2021, the Asia-Pacific fishing rod market decreased by -13.8% to $X, falling for the second year in a row after three years of growth. In general, consumption continues to indicate a mild shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Fishing Rod Production in Asia-Pacific

In value terms, fishing rod production reached $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 7.6% against the previous year. Over the period under review, production reached the peak level at $X in 2019; afterwards, it flattened through to 2021.

Fishing Rod Exports

Exports in Asia-Pacific

In 2021, overseas shipments of fishing rods and other line fishing tackle increased by 31% to X tons, rising for the sixth consecutive year after two years of decline. The total export volume increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, fishing rod exports soared to $X in 2021. Total exports indicated strong 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 +62.6% against 2014 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, finishing at X tons, which was near 85% of total exports in 2021. The following exporters - South Korea (X tons), Japan (X tons), Vietnam (X tons) and Hong Kong SAR (X tons) - together made up 9% of total exports.

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-Pacific, with a CAGR of +8.0% from 2012-2021. Hong Kong SAR experienced a relatively flat trend pattern. China (+5.8 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +8.0%. In the other countries, the average annual rates were as follows: Japan (+3.7% per year) and Vietnam (+13.3% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, picking up by 5.2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.8%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: 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-Pacific

Fishing rod imports soared to X tons in 2021, growing by 35% against 2020 figures. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.2% 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 +43.4% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, fishing rod imports surged to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.0% 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 +84.0% against 2012 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan (X tons), South Korea (X tons) and Indonesia (X tons) represented roughly 60% of total imports in 2021. It was distantly followed by Thailand (X tons), Hong Kong SAR (X tons) and Australia (X tons), together mixing up a 21% share of total imports. Singapore (X tons) held a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +21.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported fishing rods and other line fishing tackle in Asia-Pacific, comprising 37% of total imports. The second position in the ranking was taken by South Korea ($X), with a 12% share of total imports. It was followed by Hong Kong SAR, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan stood at +6.3%. In the other countries, the average annual rates were as follows: South Korea (+12.6% per year) and Hong Kong SAR (+8.0% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, shrinking by -2.8% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 9.9% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+11.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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