Fishing Reels Market: Global Industry Analysis and Forecast (2023-2029)

Fishing Reels Market size was valued at US$ 4.86 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 4.3% through 2023 to 2029, reaching nearly US$ 6.52 Bn.
Fishing Reels Market Overview:
A fishing reel is a cranking reel used for wind and stow fishing line that is connected to a fishing rod. Modern recreational fishing reels frequently incorporate fittings that help with distance and precision casting, as well as managing the pace and tension of line retrieval to prevent line snap and hook dislodgement. During the forecast period, the increased popularity of leisure activities among millennials, such as fishing, is expected to fuel demand for the product. Moreover, key companies in the fishing reels market are working on interaction with sports fishing players for product customization, innovation, and product USP in order to increase their market share.

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Fishing Reels Market Dynamics:
The rising popularity of sporting activities among millennials, such as fishing, is expected to boost demand for the product during the forecast period. Due to the effect of the COVID-19 pandemic, the market has seen a huge increase in demand. This pandemic has encouraged people all around the world to take up fishing as a socially isolating activity. While global demand for the product remains high, fishing tackle shops, particularly in the United States, have been experiencing severe supply shortages as a result of the closure of major warehouses and manufacturers that produce fishing tackle.

Furthermore, companies are growing their market reach by utilising e-Commerce and other digital platforms to reach out to individual and fishing club buyers. Due to continuing increases in demand from recreational fishers across different regions, the fishing reels market is expected to rise gradually in the forecast period. These are the key factor that drives the growth of the Global Market during the forecast period 2023-2029.

The COVID-19 pandemic outbreak disrupted the supply chain and hampered the logistics industry, which had a negative impact on fishing reel sales. Production was interrupted due to a lack of raw materials. Manufacturing operations throughout the world were also shut down owing to the lockdown, restraining the development of the fishing reels market.
Fishing Reels Market Segment Analysis:
Based on the Product Type, the market is segmented into Spinning Reel, Baitcasting Reel, Spincast Reel, Fly Reel, and Others (Offshore, Conventional, Surf Fishing, etc.). The spinning Reel segment is expected to hold the largest market shares of xx% by 2029. Due to their excellent efficiency and durability, spinning reels are becoming increasingly popular among consumers. Due to its ease of use and efficiency in all types of weather, spinning reels are preferred by not only experienced anglers but also newcomers.

Anglers will appreciate features such as top-mounted drag adjustability and an open-face design. The combination of effortless casting and a natural holding stance provides anglers with a significant sense of balance. Spinning reels have gained a great number of consumers because of these advantages, and they are the most popular reel-type in this category. These are the key factor that drives the growth of this segment in the Global Market during the forecast period 2023-2029.



Based on the Sales Channel, the market is segmented into Direct Sales, Hypermarkets/ Supermarkets, Specialty Stores, Outdoor Sports stores, Online Retailers, and Other Sales channels (Convenient Stores). The online Retailers segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. The availability and accessibility of a wide selection of products on online Retailers' platforms, as well as the opportunity to compare prices, product designs, and features, are expected to help online Retailers' sales channels to grow.

Customers are primarily interested in features such as secure transaction/payment and delivery to their doorstep. During the forecast period 2023-2029, online retailer platforms are expected to be the most profitable sales channel for fishing reels. These are the key driver that boosts the growth of this segment in the Global Market during the forecast period 2023-2029.
Fishing Reels Market Regional Insights:
North America dominates the Global Fishing Reels market during the forecast period 2023-2029. North America is expected to hold the largest market shares of xx% by 2029. Over three-quarters of North American sales are expected to come from the United States. The growing popularity of recreational sports activities in the region can be ascribed to the regional population's increased interest in fishing.

Apart from that, the availability of huge open territory in North America, as well as the legalisation of fishing in the region, creates a favourable atmosphere for the growing market. Furthermore, many types of fishing contests are held in the region, which is another notable aspect driving up demand for a diverse selection of reels. These are the major drivers that boost the growth of this region in the global market during the forecast period 2023-2029.

Asia Pacific is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. There are many places to go game fishing in this region. Furthermore, a budget-conscious traveller loves the Asia Pacific for its popular fishing sites, such as Toiman (South China Sea), Redand (South China Sea), Langwaki (Andaman Sea), Bali (Indonesia Sea), and Phuket (Andaman Sea). These are the key drivers that drive the growth of this region in the global market during the forecast period 2023-2029.

The objective of the report is to present a comprehensive analysis of the Global Fishing Reels Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Fishing Reels Market dynamic, structure by analyzing the market segments and project the Global Fishing Reels Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Fishing Reels Market make the report investor’s guide.
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Global Fishing Reels Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 4.86 Bn.


Forecast Period 2023 to 2029 CAGR:
4.3%
Market Size in 2029:
US $ 6.52 Bn.


 Segments Covered:
by Product Type
Spinning Reel
Baitcasting Reel
Spincast Reel
Fly Reel
Others


by Fishing Type
Freshwater Fishing
Saltwater Fishing


by Sales Channel
Direct Sales
Hypermarkets/ Supermarkets
Specialty Stores
Outdoor Sports Store
Online Retailers
Other Sales Channel



Fishing Reels Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Fishing Reels Market Key Players
1. SHIMANO INC.
2. Daiwa Corporation
3. Abu Garcia
4. NingBo HaiBao fishing tackle co., Ltd.
5. OKUMA FISHING TACKLE CO., LTD
6. The Orvis Company, Inc.
7. BPS Direct, L.L.C.
8. Tackle World
9. TICA FISHING TACKLE
10. BCF Australia
11. Pure Fishing, Inc. (Penn)
12. Stradic
13. Creed GT
14. Penn Spinfisher
15. Pflueger
16. Others
Frequently Asked Questions:
1] What segments are covered in Global Fishing Reels Market report?
Ans. The segments covered in Global Fishing Reels Market report are based on Product Type, Fishing Type, and Sales Channel.

2] Which region is expected to held the highest share in the Global Fishing Reels Market?
Ans. North America is expected to held the highest share in the Global Fishing Reels Market.

3] Who are the top key players in the Global Fishing Reels Market?
Ans. SHIMANO INC., Daiwa Corporation, Abu Garcia, NingBo HaiBao fishing tackle co., Ltd., and OKUMA FISHING TACKLE CO., LTD are the top key players in the Global Fishing Reels Market.

4] Which segment helds the largest market share in the Global Fishing Reels market by 2029?
Ans. Spinning Reel segment held the largest market share in the Global Fishing Reels market by 2029.

5] What is the market size of the Global Fishing Reels market by 2029?
Ans. The market size of the Global Fishing Reels market is US $ 6.52 Bn. by 2029.

6] What was the market size of the Global Fishing Reels market in 2022?
Ans. The market size of the Global Fishing Reels market was worth US $ 4.86 Bn. in 2022.