Thailand: Fishing Rod Market 2024

Fishing Rod Market Size in Thailand

The Thai fishing rod market surged to $X in 2021, rising by 183% against the previous year. Over the period under review, consumption, however, saw a pronounced reduction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Fishing Rod Production in Thailand

In value terms, fishing rod production totaled $X in 2021 estimated in export price. Over the period under review, production continues to indicate a deep contraction. The growth pace was the most rapid in 2019 when the production volume increased by 55% against the previous year. Fishing rod production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Fishing Rod Exports

Exports from Thailand

In 2021, overseas shipments of fishing rods and other line fishing tackle increased by 61% to X tons, rising for the fifth year in a row after two years of decline. Over the period under review, exports saw a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, fishing rod exports skyrocketed to $X in 2021. In general, 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 +38.2% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan (X tons) was the main destination for fishing rod exports from Thailand, accounting for a 58% share of total exports. Moreover, fishing rod exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan totaled +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.0% per year) and China (+36.3% per year).

In value terms, Japan ($X), the United States ($X) and China ($X) constituted the largest markets for fishing rod exported from Thailand worldwide, together comprising 87% of total exports.

China, with a CAGR of +45.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average fishing rod export price stood at $X per ton in 2021, with a decrease of -14.6% against the previous year. In general, the export price recorded a slight slump. The pace of growth appeared the most rapid in 2015 when the average export price increased by 60% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Japan ($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 China (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Fishing Rod Imports

Imports into Thailand

In 2021, approx. X tons of fishing rods and other line fishing tackle were imported into Thailand; with an increase of 108% on 2020. Overall, imports enjoyed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, fishing rod imports surged to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 21%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest fishing rod supplier to Thailand, with a 80% share of total imports. Moreover, fishing rod imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +28.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+5.2% per year) and Malaysia (+31.9% per year).

In value terms, China ($X) constituted the largest supplier of fishing rods and other line fishing tackle to Thailand, comprising 59% of total imports. The second position in the ranking was held by Japan ($X), with a 26% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.4% per year) and Malaysia (+3.8% per year).

Import Prices by Country

In 2021, the average fishing rod import price amounted to $X per ton, which is down by -41.9% against the previous year. In general, the import price showed a deep setback. The pace of growth was the most pronounced in 2015 when the average import price increased by 12% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-11.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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