India: Fishing Rod Market 2023

Fishing Rod Market Size in India

The Indian fishing rod market was finally on the rise to reach $X in 2021, after eight years of decline. In general, consumption recorded a deep downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Fishing Rod Production in India

In value terms, fishing rod production reached $X in 2021 estimated in export price. Overall, production faced a deep reduction. Fishing rod production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Fishing Rod Exports

Exports from India

In 2021, overseas shipments of fishing rods and other line fishing tackle increased by 38% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports saw a notable expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 103% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, fishing rod exports surged to $X in 2021. In general, total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +76.6% against 2019 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 India, with a 26% share of total exports. Moreover, fishing rod exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), twofold. The third position in this ranking was taken by France (X tons), with a 9% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+3.5% per year) and France (+1.8% per year).

In value terms, the United States ($X) remains the key foreign market for fishing rods and other line fishing tackle exports from India, comprising 28% of total exports. The second position in the ranking was taken by the UK ($X), with a 13% share of total exports. It was followed by France, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+5.2% per year) and France (+4.4% per year).

Export Prices by Country

In 2021, the average fishing rod export price amounted to $X per ton, surging by 5.9% against the previous year. In general, export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fishing rod export price increased by +4.5% against 2018 indices. The growth pace was the most rapid in 2017 when the average export price increased by 53%. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was France ($X per ton), while the average price for exports to China ($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 France (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Fishing Rod Imports

Imports into India

After two years of decline, overseas purchases of fishing rods and other line fishing tackle increased by 70% to X tons in 2021. Overall, imports saw a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, fishing rod imports soared to $X in 2021. In general, imports enjoyed a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of fishing rod to India, with a 58% share of total imports. Moreover, fishing rod imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), sixfold. South Korea (X tons) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+2.5% per year) and South Korea (-6.6% per year).

In value terms, China ($X) constituted the largest supplier of fishing rods and other line fishing tackle to India, comprising 47% of total imports. The second position in the ranking was held by Singapore ($X), with an 11% share of total imports. It was followed by Japan, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+7.7% per year) and Japan (+6.3% per year).

Import Prices by Country

In 2021, the average fishing rod import price amounted to $X per ton, declining by -1.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2017 an increase of 19% against the previous year. The import price peaked at $X per ton in 2020, and then reduced slightly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform