Vietnam: Fishing Rod Market 2024

Fishing Rod Market Size in Vietnam

For the third year in a row, the Vietnamese fishing rod market recorded decline in sales value, which decreased by -1.6% to $X in 2021. Overall, consumption recorded a pronounced slump. Fishing rod consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Fishing Rod Production in Vietnam

In value terms, fishing rod production stood at $X in 2021 estimated in export price. Overall, the total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -8.2% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 45%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Fishing Rod Exports

Exports from Vietnam

In 2021, overseas shipments of fishing rods and other line fishing tackle increased by 0.8% to X tons, rising for the fifth consecutive year after two years of decline. Overall, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 32% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, fishing rod exports surged to $X in 2021. Over the period under review, exports recorded strong growth. As a result, the exports attained 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 Vietnam, accounting for a 48% share of total exports. Moreover, fishing rod exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), fourfold. China (X tons) ranked third in terms of total exports with a 5.7% share.

From 2012 to 2021, the average annual growth rate of volume to Japan stood at +6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+13.3% per year) and China (+48.3% per year).

In value terms, Japan ($X) remains the key foreign market for fishing rods and other line fishing tackle exports from Vietnam, comprising 44% of total exports. The second position in the ranking was held by the United States ($X), with a 12% share of total exports. It was followed by China, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value to Japan amounted to +10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+17.5% per year) and China (+57.6% per year).

Export Prices by Country

The average fishing rod export price stood at $X per ton in 2021, surging by 28% against the previous year. Over the period under review, export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fishing rod export price increased by +32.8% against 2019 indices. 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 destination: the country with the highest price was China ($X per ton), while the average price for exports to Singapore ($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 Russia (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Fishing Rod Imports

Imports into Vietnam

In 2021, approx. X tons of fishing rods and other line fishing tackle were imported into Vietnam; declining by -18.8% on 2020 figures. Over the period under review, imports showed a mild downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 46% against the previous year. Imports peaked at X tons in 2020, and then dropped dramatically in the following year.

In value terms, fishing rod imports expanded remarkably to $X in 2021. Overall, total imports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.4% 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 +53.6% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 46%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

Japan (X tons), China (X tons) and South Korea (X tons) were the main suppliers of fishing rod imports to Vietnam, with a combined 89% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +2.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and South Korea ($X) appeared to be the largest fishing rod suppliers to Vietnam, with a combined 89% share of total imports.

China, with a CAGR of +4.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fishing rod import price stood at $X per ton in 2021, rising by 30% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. As a result, import 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 supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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