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Global Fishing Reels Market Report, Share, Size and Forecast to 2028
- April 28, 2022
- ID: SR/FB-21
- Format:Pdf
- Pages:220
Global Fishing Reels Market, By Type (Spinning Reel, Baitcasting Reel, Spin cast Reel, and Others); By Distribution Channel (Online and Offline), and By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)-Global Forecast to 2030.
Fishing Reels Market Overview
The global Fishing Reels market is estimated to reach USD 7.5 Billion by 2030 with a CAGR of 4.3% during the forecast period, 2022-2030. It was valued at USD 5.1 Billion in 2022. According to the estimate, the growing popularity of leisure activities among millennials, such as fishing, is predicted to fuel solid demand for the product by 2028. The market for fishing reels is driven by rising consumer desire for outdoor recreational activities, such as fishing, due to rising millennial engagement and urbanization. Fishing Reels are selling well due to the growing popularity of fish hunting in the outdoor recreational business, which has resulted in a huge number of fishermen. The growing interest in various types of fishing is increasing the number of individuals who participate in fishing in various countries. Freshwater fish hunting, for instance, was the most popular fishing category in the United States in 2018, with twice as many participants as saltwater and fly fishing altogether. However, the outbreak’s interruption of the supply chain and disruption of the logistics sector harmed fishing reel sales.What are Fishing Reels?
A fishing reel is a cranking reel used to wind and stow fishing line attached to a fishing rod. Modern recreational fishing reels frequently incorporate fittings that help with distance and precision casting and manage the pace and tension of line retrieval to avoid line snap and hook dislodgement. Fishing reels have long been employed in competitive casting and angling. Attachments for measuring distance, accuracy, and recovering lines are now available on new fishing reels. These features also have the added benefit of catching the fish quickly.Growth Driver
Rising fishing industry
Fishing reels are anticipated to create an income because of the rising fishing industry and the need for fish and fish products. Fishing reels are required to catch other aquatic species. According to the State of World Fisheries and Aquaculture report, global aquatic production climbed from 72.6 billion tons in 2014 to 91.4 million tons in 2016. The need for fishing reels is fast expanding, and the fishing reels market is likely to develop in the next years due to this demand.Opportunity
The proliferation of new technologies
The major businesses invest in R&D and develop new equipment to differentiate the fishing experience as a recreational sport. Separate pieces of equipment for commercial use have been created with bulk requirements in mind. Van Staal, a market leader, places a premium on high-quality equipment, combining exceptional engineering with fishing reels. The company has introduced the X-series, a new line of equipment that has been optimized for casting distance and control. Electrofishing is a widely employed concept in the fishing industry, and firms are also investing in it. The companies are also designing headwear, apparel, fishing kits, and equipment to attract the target market.Restraint
Regulatory Hurdle
Government bodies have set limits on citizens’ mobility; as a result, fishing operations have been halted for the time being, and the fishing reels market has lost sales, which is expected to pose a challenge to the worldwide market’s growth throughout the anticipated period of 2022-2030. Restrictions imposed on traveling and wandering outside in the aftermath of the global pandemic had an unfavorable impact on the global fishing reels business, resulting in a dramatic decline in demand and sales.Pre-Covid-19 impact on the global Fishing Reels market
Before the pandemic, the growing popularity of recreational fishing in the region has resulted in healthy demand for fishing reels over the years. Furthermore, fishing participation increased by 300,000 in 2018, bringing the total number of participants to the greatest level since 2007 and increasing the participation of the younger population, particularly children, as anglers have contributed to the market’s strong growth.Covid-19 impact on the global Fishing Reels market
The World Health Organization (WHO) declared COVID-19 a pandemic on March 11, 2020. The coronavirus outbreak has substantially impacted the fishing reel business and all stages of the supply chain and value chain. Due to the impact of the COVID-19 epidemic, the sector has seen a huge increase in demand. This pandemic has encouraged people worldwide 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 due to the closure of major warehouses and manufacturers that produce fishing tackle.Post Covid-19 impact on the global Fishing Reels market
Following Covid-19, it is expected that expanding digital entrepreneurship will increase consumer awareness of sportfishing through social media. Fish brain, a social network for fishermen, is a popular app and network in the United States, with over 7 million users. These trends are anticipated to prioritize sports such as fishing, which will boost fishing reel sales.Type Segmental Analysis
Based on Type, the global Fishing Reels market is classified into Spinning Reel, Baitcasting Reel, Spin cast Reel, and Others. The Spinning Reel segment is expected to hold the largest share in the global Fishing Reels market during the forecast period by 2030. Because of its superb open-faced design, the spinning reel is very popular among anglers of all levels. Spinning reels are becoming more popular due to their benefits, such as ease of use. As a result, the spinning reel category accounts for most of the global fishing reels market, driving segment expansion.Distribution Channel Segmental Analysis
Based on Distribution Channel, the global Fishing Reels market is segregated into Online and Offline. The Offline segment accounts for the largest share in the global Fishing Reels market from 2022-to 2030. Specialty stores, discount stores, department stores, and specific sports businesses are also popular offline channels for fishing reels. Many consumers continue to favor offline channels since these retail shops allow them to assess product quality and design. Furthermore, the growing need for purchasing assistance worldwide has fueled demand for the product.Region Segmental Analysis
Based on the regional segmental analysis, the Fishing Reels market is characterized by North America, Europe, Asia Pacific, South America, and Middle East & Africa. The North American Fishing Reels business will acquire significant traction by 2030. Recreational fishing’s popularity has grown due to its importance as an American tradition. Recreational fishing is a powerful economic force in the United States, with over 49 million fishermen in 2018. As a result, there is a need for fishing reels in the region, which is predicted to grow significantly throughout the projection period by 2030.Competitor Analysis
Companies include Shimano INC., Daiwa Corporation, Abu Garcia, NingBo HaiBao fishing tackle co., Ltd., Okuma Fishing Tackle CO., LTD, The Orvis Company, Inc., BPS Direct, LLC, Tackle World, Tica Fishing Tackle, BCF Australia, Pure Fishing, Inc. (Penn), and Other prominent players are the key players in the Fishing Reels market. Key Stakeholders- Market research and consulting firms
- Industry associations
- Global Fishing Reels manufacturing firm
- Local Governments
- Regulatory bodies
- Suppliers
- Retailers
Recent Development
- In 2021, Abu Garcia announced the release of its ZENON reels and rods, which are said to be the lightest next-generation tech products. The reels in this series are made of magnesium, which means they’re lighter, perform better, and have more sensitivity in the fishing sport.
- In 2020, Daiwa Corporation developed a new website dedicated to announcing the arrival of new fishing equipment such as reels, rods, and other accessories. The website assists anglers in keeping track of new products that are being offered, as well as aiding the market growth.
Scope of the Report
| Report Attribute | Details |
|---|---|
| Revenue in 2021 | USD 5.1 Billion |
| The revenue forecast in 2028 | USD 7.5 Billion |
| Growth Rate | 4.3% |
| Historical data | 2017 – 2020 |
| Base Year | 2021 |
| Forecast period | 2022 – 2028 |
| Region covered | America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Key companies Profiled | Shimano INC., Daiwa Corporation, Abu Garcia, NingBo HaiBao fishing tackle co., Ltd., Okuma Fishing Tackle CO., LTD, The Orvis Company, Inc., BPS Direct, LLC, Tackle World, Tica Fishing Tackle, BCF Australia, Pure Fishing, Inc. (Penn), and Other prominent players. |
Market Modelling
By Type- Spinning Reel
- Baitcasting Reel
- Spin cast reel
- Others
- Online
- Offline
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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Report Content
- Research Strategic Development
1.1. Market Modelling
1.2. Product Analysis
1.3. Market Trend and Economic Factors Analysis
1.4. Market Segmental Analysis
1.5. Geographical Mapping
1.6. Country Wise Segregation
- Research Methodology
2.1. Identification of Target Market
2.2. Data Acquisition
2.3. Refining of Data/ Data Transformations
2.4. Data Validation through Primary Techniques
2.5. Exploratory Data Analysis
2.6. Graphical Techniques/Analysis
2.7. Quantitative Techniques/Analysis
2.8. Visual Result/Presentation
- Executive Summary
- Market Insights
4.1. Supply Chain Analysis
4.2. Economic Factor Analysis
4.2.1. Drivers
4.2.2. Trends
4.2.3. Opportunities
4.2.4. Challenges
4.3. Technological Landscape
4.4. Competitors & Product Analysis
4.5. Regulatory Framework
4.6. Company market share analysis, 2022
4.7. Porter’s Five forces analysis
4.8. Price point analysis
4.9. New Investment Analysis
4.10. PESTEL Analysis
4.11. Impact of Covid-19
- Global Fishing Reels Market Overview
5.1. Market Size & Forecast,2017-2030
5.1.1. Demand
5.1.1.1. By Value (USD Billion)
5.2. Market Share & Forecast, 2017-2030
5.2.1. By Type
5.2.1.1. Spinning Reel
5.2.1.2. Baitcasting Reel
5.2.1.3. Spincast Reel
5.2.1.4. Others
5.2.2. By Distribution Channel
5.2.2.1. Online
5.2.2.2. Offline
5.2.3. By Region
5.2.3.1. North America
5.2.3.2. Europe
5.2.3.3. Asia-Pacific
5.2.3.4. South America
5.2.3.5. The Middle East & Africa
- North America Fishing Reels Market Overview
6.1. North America Fishing Reels Market Size & Forecast,2017-2030
6.1.1. Demand
6.1.1.1. By Value (USD Billion)
6.2. Market Share & Forecast, 2017-2030
6.2.1. By Type
6.2.1.1. Spinning Reel
6.2.1.2. Baitcasting Reel
6.2.1.3. Spincast Reel
6.2.1.4. Others
6.2.2. By Distribution Channel
6.2.2.1. Online
6.2.2.2. Offline
6.2.3. By Country
6.2.3.1. US
6.2.3.2. Canada
6.2.3.3. Mexico
6.2.4. Company Market Share (Top 3-5)
6.2.5. Economic Impact Study on North America Fishing Reels Market
- Europe Fishing Reels Market Overview
7.1. Europe Fishing Reels Market Size & Forecast,2017-2030
7.1.1. Demand
7.1.1.1. By Value (USD Billion)
7.2. Market Share & Forecast, 2017-2030
7.2.1. By Type
7.2.1.1. Spinning Reel
7.2.1.2. Baitcasting Reel
7.2.1.3. Spincast Reel
7.2.1.4. Others
7.2.2. By Distribution Channel
7.2.2.1. Online
7.2.2.2. Offline
7.2.3. By Country
7.2.3.1. Germany
7.2.3.2. UK
7.2.3.3. France
7.2.3.4. Italy
7.2.3.5. Rest of Europe
7.2.4. Company Market Share (Top 3-5)
7.2.5. Economic Impact Study on Europe Fishing Reels Market
- Asia-Pacific Fishing Reels Market Overview
8.1. Asia-Pacific Fishing Reels Market Size & Forecast,2017-2030
8.1.1. Demand
8.1.1.1. By Value (USD Billion)
8.2. Market Share & Forecast, 2017-2030
8.2.1. By Type
8.2.1.1. Spinning Reel
8.2.1.2. Baitcasting Reel
8.2.1.3. Spincast Reel
8.2.1.4. Others
8.2.2. By Distribution Channel
8.2.2.1. Online
8.2.2.2. Offline
8.2.3. By Country
8.2.3.1. India
8.2.3.2. Japan
8.2.3.3. Australia
8.2.3.4. Rest of Asia Pacific
8.2.4. Company Market Share (Top 3-5)
8.2.5. Economic Impact Study on Asia Pacific Fishing Reels Market
- South America Fishing Reels Market Overview
9.1. South America Fishing Reels Market Size & Forecast,2017-2030
9.1.1. Demand
9.1.1.1. By Value (USD Billion)
9.2. Market Share & Forecast, 2017-2030
9.2.1. By Type
9.2.1.1. Spinning Reel
9.2.1.2. Baitcasting Reel
9.2.1.3. Spincast Reel
9.2.1.4. Others
9.2.2. By Distribution Channel
9.2.2.1. Online
9.2.2.2. Offline
9.2.3. By Country
9.2.3.1. Brazil
9.2.3.2. Argentina
9.2.3.3. Rest of South America
9.2.4. Company Market Share (Top 3-5)
9.2.5. Economic Impact Study on South America Fishing Reels Market
- The Middle East & Africa Fishing Reels Market Overview
10.1. The Middle East & Africa Fishing Reels Market Size & Forecast,2017-2030
10.1.1. Demand
10.1.1.1. By Value (USD Billion)
10.2. Market Share & Forecast, 2017-2030
10.2.1. By Type
10.2.1.1. Spinning Reel
10.2.1.2. Baitcasting Reel
10.2.1.3. Spincast Reel
10.2.1.4. Others
10.2.2. By Distribution Channel
10.2.2.1. Online
10.2.2.2. Offline
10.2.3. By Country
10.2.3.1. Saudi Arabia
10.2.3.2. UAE
10.2.3.3. South Africa
10.2.3.4. Rest of the Middle East & Africa
10.2.4. Company Market Share (Top 3-5)
10.2.5. Economic Impact Study on Middle East & Africa Fishing Reels Market
- Competitor Analysis
11.1. Company Description
11.2. Financial Analysis
11.3. Key Products
11.4. Key Management Personnel
11.5. Contact Address
11.6. SWOT Analysis
11.7. Company Profile
11.7.1. Shimano INC.
11.7.2. Daiwa Corporation
11.7.3. Abu Garcia
11.7.4. NingBo HaiBao fishing tackle co., Ltd.
11.7.5. Okuma Fishing Tackle CO., LTD
11.7.6. The Orvis Company, Inc.
11.7.7. BPS Direct, LLC.
11.7.8. Tackle World
11.7.9. Tica Fishing Tackle
11.7.10. BCF Australia
11.7.11. Pure Fishing, Inc. (Penn)
11.7.12. Other Prominent Players
Frequently Asked Questions (FAQ):
A fishing reel is a cranking reel used to wind and stow fishing line attached to a fishing rod. Modern recreational fishing reels frequently incorporate fittings that help with distance and precision casting and manage the pace and tension of line retrieval to avoid line snap and hook dislodgement.
The global Fishing Reels market is estimated to reach USD 7.5 Billion by 2030 with a CAGR of 4.3% during the forecast period, 2022-2030. It was valued at USD 5.1 Billion in 2022.
According to the estimate, the growing popularity of leisure activities among millennials, such as fishing, is predicted to fuel solid demand for the product by 2030. The market for fishing reels is driven by rising consumer desire for outdoor recreational activities, such as fishing, due to rising millennial engagement and urbanization.
A regulatory hurdle is predicted to create an obstacle in the growth of the global market over the forecasted period by 2030.
The North American region is expected to dominate the Fishing Reels Market and continue this growth rate, followed by Europe and the Asia Pacific forecast, 2022-2030.
Companies include Shimano INC., Daiwa Corporation, Abu Garcia, NingBo HaiBao fishing tackle co., Ltd., Okuma Fishing Tackle CO., LTD, The Orvis Company, Inc., BPS Direct, LLC, Tackle World, Tica Fishing Tackle, BCF Australia, Pure Fishing, Inc. (Penn), and Other prominent players are the key players in the Fishing Reels market.
