Fishing gear culture, “fishing” the whole world

The fishing line rises slowly and firmly, and the sea surface in front of the boat seems to be lifted by an invisible force. Then, a huge fish jumps out, splashing water, pouring down from both sides of its huge body like a waterfall. Under the sunlight, the fish shines brightly, its head and back are deep purple, and the wide stripes on both sides are particularly eye-catching under the light, with a touch of elegant purple.

Mentioning this scene, people can’t help but think of the thrilling fight between the old Cuban fisherman and his huge marlin. In the literary masterpiece “The Old Man and the Sea”, we witness the indomitable and never-give-up spirit of mankind in the face of natural challenges. This work not only deeply touched the hearts of countless readers, but was also ridiculed by many anglers as “the stubbornness of a fisherman”, becoming a spiritual totem in their hearts.

Globally, fishing has a wide audience. According to the latest statistics from the China Fishing Association, by June 2024, the number of active anglers in China who participate in at least four fishing activities each year has reached 140 million. This means that one in every ten Chinese people has a special liking for the joy of fishing. On the other side of the ocean, in the United States, the proportion of fishing enthusiasts is even more astonishing, with a number of 56 million, almost one-sixth of the total U.S. population.

China is not only a paradise for fishing enthusiasts, but also the world’s leading fishing gear production base. According to statistics, about 80% of the world’s fishing gear products come from Chinese companies. By the end of 2023, the export value of China’s main fishing gear products has reached nearly 1.8 billion US dollars. In Weihai, Shandong, there are thousands of fishing gear production and supporting enterprises, which together undertake nearly half of the world’s fishing gear supply tasks.

However, despite the advantage in quantity, Chinese fishing gear companies have long been hidden behind the light of international big brands and quietly engaged in OEM business. It was not until recent years that a few Chinese brands gradually emerged and began to enter the vision of overseas consumers.

For anglers who want to enjoy the joy of fishing, a handy fishing rod is essential. And alongside the fishing rod, there are also equipment such as fish hooks, lead sinkers, fish floats, and fishing lines. In addition, various fishing auxiliary equipment such as fishing chairs, parasols, and fish guards are also regular partners for senior anglers. These equipment can not only help anglers catch fish better, but also allow them to enjoy more fun and comfort during the fishing process.

In China, each region has formed its own unique fishing gear industry belt. For example, Shandong is famous for fishing rods, Hubei is good at producing bait, Ningbo’s fishing reels are of high quality, and Jiangxi’s fish hooks are extremely sharp. Among them, the fishing gear industry in Weihai, Shandong is particularly prominent and is known as the “Chinese Fishing Tackle Capital”. Here, six out of every ten fishing rods in the world are born here. In the first three quarters of 2024, the export value of fishing gear at Weihai Port in Shandong Province reached RMB 2.033 billion, a year-on-year increase of 13.4%.

The success of Weihai’s fishing gear industry is not accidental. As early as 1981, the first fiberglass fishing rod in China was born here, opening the journey of Weihai’s fishing gear industrialization. After more than 40 years of development, Weihai’s fishing gear industry has built a full-range industrial chain from fishing rods, fishing reels, guide rings to baits. Here, you can find a variety of high-quality and cost-effective fishing gear products.

In addition to Weihai, many other regions in China have also achieved remarkable results in the fishing gear industry. For example, Dongyang, Zhejiang is the production base for more than 70% of the fishing lines in China and nearly 55% of the world; Gu’an, Hebei is the largest fishing float production base in China, and the production and sales of fishing floats account for more than 80% of the national market; the annual output value of fishing rods and fishing gear in Suning, Hebei reaches more than 2 billion yuan; Cixi, Zhejiang is characterized by the production and export of fishing reels; Huailin, Anhui is one of the largest fishing net production bases in the country; Wuhe, Anhui has formed a fish hook industry cluster; Linxiang, Hunan mainly produces floats; Poyang, Jiangxi is the production base for more than 90% of China’s fish hooks, and the fish hook production capacity accounts for 25% of the global market.

“Buy fishing gear from Weihai”, this is a regional complex that is difficult for people outside the fishing circle to understand. But for fishing enthusiasts, Weihai’s fishing gear industry is not only a leader in quantity, but also a representative of quality and technology. Here, you can find the fishing gear products that suit you best and have a wonderful battle with the fish.

As more and more people use fishing as a way to relax their body and mind, the demand for the fishing gear market is also continuing to rise. According to a report by Statista, the global fishing gear market revenue is expected to reach US$24.7 billion in 2024. By 2028, this figure will grow to US$31 billion, with a compound annual growth rate of 6.15%.

From the perspective of regional markets, North America has become the world’s largest fishing gear market with a retail sales market share of 31.1%. East Asia, represented by China, follows closely behind, accounting for 29.7%. The European market ranks third with a share of 22.1%. Due to its proximity to the ocean, fishing activities in Southeast Asia have become more and more popular, making it one of the regions with rapid growth in fishing gear consumption.

In the booming global fishing market, Chinese fishing gear companies have also ushered in new development opportunities. Some companies have begun to actively seek ways to expand their brands overseas and enter the international market through OEM, mergers and acquisitions. Among them, Lexin Outdoor is a typical example. As one of the largest fishing equipment manufacturers in China, Lexin Outdoor not only occupies 25.4% of the Chinese market, but also occupies a place in the global market. In November 2024, Lexin Outdoor submitted a prospectus to the Hong Kong Stock Exchange, and is about to usher in the highlight moment of its IPO.

However, although Lexin Outdoor’s revenue looks considerable, it is still highly dependent on OEM business. During the fiscal years 2022 to 2024, Lexin Outdoor’s OEM business revenue accounted for 95.7%, 91.1% and 91.3% of the total revenue in the same period, respectively. Although this business model can bring a stable income stream in the short term, it poses greater risks in the long run. Therefore, Lexin Outdoor is also actively seeking a path to transformation, hoping to create its own well-known brand.

In addition to Lexin Outdoor, some Chinese fishing gear brands are also emerging in the overseas market. For example, KastKing is a brand based on the Weihai fishing gear industry belt. It makes full use of Weihai’s industrial advantages as an important production base and supply chain source to produce cost-effective fishing gear products. In the US market, KastKing has won the favor of consumers with its price advantage and excellent product quality. On Amazon US, KastKing’s fishing gear brand sales rank first. This is not only a successful attempt by a Chinese fishing gear brand in the international market, but also a strong proof of the overall strength of China’s fishing gear industry.

KastKing’s success is not accidental. Its founder Cui Tianshi grew up in Weihai since he was a child and has a deep affection and keen insight into the fishing gear industry. While studying in the United States, he developed a strong interest in fishing and discovered the huge business opportunities in the American fishing gear market. So he decided to create a world-class fishing gear brand owned by Chinese. After returning to China, he made full use of Weihai’s industrial advantages and technical strength to produce high-quality fishing gear products. At the same time, he also increased the brand’s visibility and influence by sponsoring fishing competitions and establishing fan communities. These efforts ultimately made KastKing a huge success in the US market.

It is worth mentioning that KastKing also focuses on fishing gear products for lure fishing. Lure fishing is a fishing method that simulates the movement of weak creatures in the water by artificially controlling the swing of lures to lure fish to attack. It is very popular in the United States and other North American regions and is known as “water golf”. Due to North America’s abundant water resources and diverse fish species, lure fishing has been widely promoted and applied here. Therefore, KastKing also launched special lure fishing gear products to meet this market demand and achieved good sales results.

However, it is not easy for Chinese fishing gear brands to gain a foothold in the overseas market. For a long time, Chinese fishing gear companies have been focusing on the market with mid- and low-end products, and lack brand awareness and market accumulation in the process of doing OEM business. Therefore, they are often at a disadvantage when facing competition from international old fishing gear brands. However, with the continuous development of China’s economy and the continuous changes in consumer demand, Chinese fishing gear companies have gradually realized the importance of brands and actively sought a path to transformation. Some companies have begun to focus on product research and development and innovation, improving product quality and added value; some companies have begun to enter the international market through mergers and acquisitions and build their own well-known brands. These efforts have won a place for Chinese fishing gear companies in the overseas market.

In short, the vigorous development of the global fishing market has brought new development opportunities and challenges to Chinese fishing gear companies. Only by continuous innovation, improving product quality and service levels, and strengthening brand building and market promotion can we be invincible in this highly competitive market.