USD 5.22 billion
Fishing Reels Market Size, Share, Growth Analysis, By Type(Spinning Reel, Baitcasting Reel, Spincast Reel, Others), By Distribution channel(Online, Offline), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25J2059 |
Region:
Global |
Published Date: March, 2024
Pages:
223
|Tables:
63
|Figures:
80
Fishing Reels Market Insights
Global Fishing Reels Market size was valued at USD 5.22 billion in 2022 and is poised to grow from USD 5.43 billion in 2023 to USD 7.49 billion by 2031, growing at a CAGR of 4.1% in the forecast period (2024-2031).
The Global Fishing Reels market is a dynamic sector within the broader fishing equipment industry. Fishing reels serve as critical components for anglers, enabling the efficient deployment and retrieval of fishing lines and baits. The market has experienced consistent growth due to the enduring popularity of fishing as a recreational activity and the advancements in reel technology. Key drivers of the market include the expanding participation in recreational fishing, both as a leisure activity and as a competitive sport.
Additionally, the growth of eco-tourism and the increasing disposable incomes of individuals in emerging economies have contributed to the demand for high-quality fishing reels. Technological innovations have played a significant role in shaping the market. Manufacturers are incorporating advanced materials, ergonomic designs, and precision engineering to create reels that are lighter, more durable, and offer smoother casting and retrieval experiences. The market also sees variations in reel types, including spinning reels, baitcasting reels, and fly reels, catering to different fishing techniques and preferences.
US Fishing Reels Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Spinning Reel
Fastest Growth
Spinning Reel
Growth Rate
4.1% CAGR
Global Fishing Reels Market ($ Bn)
Country Share for North America Region (%)
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Fishing Reels Market Segmental Analysis
The global fishing reels market is segmented on the basis of Type, Distribution Channel and region. By Type, the market is segmented into Spinning Reel, Baitcasting Reel, Spincast Reel, Others. By Distribution Channel, the market is segmented into Online, Offline. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Fishing Reels Market Analysis By Type
Among the types of fishing reels, the Spinning Reel stands out as the dominant segment in the global market. Spinning reels are highly versatile and user-friendly, making them popular among both novice and experienced anglers. They offer ease of casting, better control over the line, and the ability to handle a wide range of fishing techniques and conditions. The Spinning Reel's user-friendly design and broad applicability contribute to its dominance in the market.
As for the fastest-growing segment, the Baitcasting Reel is experiencing rapid expansion in the global fishing reels market. Baitcasting reels are known for their accuracy and ability to handle heavier lines and lures, making them a preferred choice for experienced anglers targeting larger species. With advancements in technology, including improved braking systems and ergonomic designs, baitcasting reels are becoming more accessible to a broader range of anglers. The growing interest in specialized fishing techniques like bass fishing has fueled the demand for baitcasting reels, driving their rapid growth in the market.
Fishing Reels Market Analysis By Distribution Channel
In the global Fishing Reels market, the dominant distribution channel is currently Offline. Offline distribution channels include brick-and-mortar stores, specialty fishing shops, sporting goods stores, and outdoor equipment retailers. These physical retail locations offer customers the opportunity to see and feel the products before making a purchase, which is particularly important for fishing enthusiasts who may have specific preferences and requirements for their fishing reels.
On the other hand, the fastest-growing distribution segment is Online. The online distribution channel has witnessed rapid growth due to the convenience it offers. Customers can browse a wide range of fishing reel options, read reviews, and compare prices from the comfort of their homes. Online retailers and e-commerce platforms provide a vast selection, often at competitive prices, attracting both casual and dedicated anglers. The growth of online sales is further driven by technological advancements, secure payment methods, and efficient delivery services.
Global Fishing Reels Market By Type
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Fishing Reels Market Regional Insights
The global Fishing Reels Market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. In the global Fishing Reels market, one dominant region is North America. North America has a strong fishing culture, a large number of fishing enthusiasts, and a diverse range of fishing environments, including lakes, rivers, and coastal areas. The United States and Canada are major contributors to the demand for fishing reels in this region, driven by recreational fishing activities and a well-established fishing industry.
On the other hand, one of the fastest-growing regions in the global Fishing Reels market is Asia-Pacific. Asia-Pacific, particularly countries like Japan, China, and South Korea, has been experiencing significant growth in recreational fishing and sports fishing activities. Rising disposable incomes, increasing leisure time, and growing interest in outdoor activities are propelling the demand for fishing equipment, including fishing reels, in this region. Additionally, the development of tourism-related fishing activities is also contributing to the growth of the fishing reels market in Asia-Pacific.
Global Fishing Reels Market By Geography
- Largest
- Fastest
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Fishing Reels Market Dynamics
Fishing Reels Market Drivers
Growing Recreational Fishing:
- The increasing popularity of recreational fishing as a leisure activity is driving the demand for fishing reels. As more individuals engage in fishing as a hobby or sport, there is a rising need for high-quality and specialized fishing equipment, including advanced reels that offer smooth operation and enhanced performance.
Technological Advancements:
- The fishing industry has witnessed technological advancements in reel design, materials, and features. Manufacturers are developing reels with innovative gear systems, lightweight materials, and improved drag systems, leading to better casting distances, precision, and durability. These advancements attract avid anglers looking for cutting-edge gear to improve their fishing experience.
Fishing Reels Market Restraints
Environmental Concerns:
- Fishing, particularly in commercial contexts, can have adverse impacts on marine ecosystems and fish populations. Overfishing, bycatch, and habitat destruction can lead to environmental degradation. As awareness of these concerns grows, there might be a push for more sustainable fishing practices, which could impact the demand for fishing reels, especially in the commercial sector.
Price Sensitivity:
- High-quality fishing reels with advanced features can come with a significant price tag. Economic fluctuations and consumer price sensitivity can influence purchasing decisions. Some anglers might opt for cheaper alternatives or delay purchasing decisions during economic downturns, impacting the overall demand for premium fishing reels.
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Fishing Reels Market Competitive Landscape
The global fishing reels market boasts a competitive landscape with several key players vying for market share. Renowned manufacturers such as Shimano Inc., Daiwa Corporation, Okuma Fishing Tackle Corporation, and Pure Fishing, Inc. dominate the market due to their extensive product portfolios, brand recognition, and innovation capabilities. These industry leaders focus on continuous product development, incorporating advanced materials, improved designs, and cutting-edge technologies to enhance reel performance. They also prioritize catering to diverse customer preferences, offering a range of reel types such as spinning, baitcasting, and fly fishing reels. Moreover, regional players like Penn Fishing Tackle Manufacturing Co. and Abu Garcia contribute to the competitive landscape, leveraging their expertise and market knowledge to target specific customer segments. The market's competitiveness is driven by factors like product quality, durability, pricing, and customer service. As the fishing industry evolves, players are increasingly incorporating digital features like advanced drag systems and smart technologies, further intensifying the competition. To maintain their edge, companies are investing in research, marketing, and distribution strategies to stay relevant in this dynamic market.
Fishing Reels Market Top Player’s Company Profile
- Daiwa Corporation (Japan)
- Penn Fishing Tackle (USA)
- Pflueger (USA)
- Quantum Fishing (USA)
- Lew's Fishing (USA)
- Rapala (Finland)
- Mitchell Fishing (France)
- 13 Fishing (USA)
- Zebco Brands (USA)
- St. Croix Rods (USA)
- Hardy Fishing (UK)
- G. Loomis (USA)
- Fin-Nor (USA)
- Avet Reels (USA)
- Van Staal (USA)
- Orvis (USA)
- Redington (USA)
- Ross Reels (USA)
- Temple Fork Outfitters (USA)
- Jarvis Walker (Australia)
- Seahawk (China)
- Jarvis Walker (Australia)
Fishing Reels Market Recent Developments
- In April 2023: Penn released its new Spinfisher VI spinning reel, which features a new HT-100 drag system that is said to be more durable and powerful.
- In May 2023: KastKing released its new Royale Legend X spinning reel, which features a new carbon fiber drag system that is said to be ultra-smooth and powerful.
-
Shimano Australia expanded its range of fishing reels in August 2023 with the release of the Shimano Sedona FJ spinning reel, which offers anglers cutting-edge technology at a reasonable price.
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The Okuma Inspira ISX "A" Spinning Reel, which offers remarkable stability, smoothness, and power while utilizing cutting-edge technology, was announced by Okuma in August 2023. It is aimed at fishermen who are looking for a fishing industry game changer.
-
At the forthcoming ICAST trade event in Orlando, Florida in July 2023, Shimano North America Fishing will debut the Stradic FM reel, an addition to its Stradic spinning reel. The most comprehensive Stradic performance for fishermen worldwide is ensured by the Stradic FM, which provides the ideal ratio of power, smoothness, and dependability.
Fishing Reels Key Market Trends
- Technological Advancements: The fishing reels market is experiencing a trend of continuous technological innovation. Manufacturers are integrating advanced features such as precision gear ratios, electronic braking systems, improved drag systems, and lightweight materials into fishing reels. These advancements enhance the performance and efficiency of fishing reels, offering anglers smoother casts, better control, and increased durability. Additionally, smart and connected features like Bluetooth-enabled reels that sync with mobile devices for data tracking and analysis are gaining traction among tech-savvy anglers. Technological innovations not only improve user experience but also cater to different fishing styles and environments, driving consumer interest and market growth.
- Sustainability and Environmental Concerns: A growing awareness of environmental sustainability is influencing the fishing reels market. Consumers are increasingly seeking products that align with responsible fishing practices and have minimal environmental impact. As a result, manufacturers are focusing on producing reels with eco-friendly materials, efficient designs that reduce waste, and sustainable manufacturing processes. Additionally, there's a trend towards catch-and-release practices, which necessitates fishing reels with smooth drag systems to minimize stress on fish. This shift towards sustainability resonates with conscious anglers and is shaping their purchasing decisions, driving manufacturers to develop more environmentally friendly and ethically designed fishing reels.
Fishing Reels Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Fishing Reels Market analysis, the market has demonstrated significant growth due to the enduring popularity of recreational fishing and advancements in fishing gear technology. Fishing reels are essential components of fishing equipment, enabling anglers to cast and retrieve fishing lines effectively. The market's expansion is driven by factors such as increased leisure activities, rising interest in outdoor sports, and a growing fishing tourism sector. Manufacturers are responding to consumer preferences by developing reels that offer enhanced durability, smooth operation, and advanced features such as drag systems and gear ratios tailored for specific fishing techniques. Additionally, the adoption of sustainable fishing practices and the emergence of eco-friendly materials have impacted the market positively. However, challenges like competition from substitute recreational activities and concerns about overfishing could potentially affect market growth. The global fishing reels market's growth is tied to the enduring appeal of fishing as a recreational activity and the continuous innovation in reel design and functionality, catering to the diverse needs and preferences of anglers worldwide.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5.22 billion |
| Market size value in 2031 | USD 7.49 billion |
| Growth Rate | 4.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Fishing Reels Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Fishing Reels Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Fishing Reels Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fishing Reels Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fishing Reels Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Fishing Reels Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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