China: Fishing Rod Market 2024

Fishing Rod Market Size in China

In 2021, the Chinese fishing rod market decreased by -61.9% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption recorded a abrupt shrinkage. Fishing rod consumption peaked at $X in 2020, and then declined notably in the following year.

Fishing Rod Production in China

In value terms, fishing rod production fell modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the production volume increased by 17%. Fishing rod production peaked at $X in 2020, and then fell in the following year.

Fishing Rod Exports

Exports from China

In 2021, overseas shipments of fishing rods and other line fishing tackle increased by 35% to X tons, rising for the fifth year in a row after three years of decline. Overall, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.5% 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 +65.8% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, fishing rod exports soared to $X in 2021. In general, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +88.9% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for fishing rod exports from China, accounting for a 28% share of total exports. Moreover, fishing rod exports to the United States exceeded the volume sent to the second major destination, South Korea (X tons), fourfold. Japan (X tons) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+8.1% per year) and Japan (+5.2% per year).

In value terms, the United States ($X) remains the key foreign market for fishing rods and other line fishing tackle exports from China, comprising 32% of total exports. The second position in the ranking was taken by Japan ($X), with a 13% share of total exports. It was followed by South Korea, with a 4.8% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+6.8% per year) and South Korea (+17.8% per year).

Export Prices by Country

In 2021, the average fishing rod export price amounted to $X per ton, with an increase of 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. 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 for the major export markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Fishing Rod Imports

Imports into China

Fishing rod imports into China was estimated at X tons in 2021, surging by 2.2% against 2020. In general, imports saw a noticeable increase. The most prominent rate of growth was recorded in 2018 with an increase of 66%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, fishing rod imports soared to $X in 2021. Over the period under review, imports continue to indicate a resilient increase. The growth pace was the most rapid in 2019 with an increase of 62% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Japan (X tons), South Korea (X tons) and Vietnam (X tons) were the main suppliers of fishing rod imports to China, together comprising 62% of total imports. Malaysia, the United States, Indonesia and Thailand lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +50.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of fishing rods and other line fishing tackle to China, comprising 54% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 10% share of total imports. It was followed by Thailand, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value from Japan totaled +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+49.2% per year) and Thailand (+32.8% per year).

Import Prices by Country

In 2021, the average fishing rod import price amounted to $X per ton, with an increase of 15% against the previous year. In general, the import price showed a remarkable increase. The most prominent rate of growth was recorded in 2020 when the average import price increased by 82% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Thailand ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+20.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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