The fishing reels market is estimated to be valued at USD 5,894.3 million in 2023 and is expected to reach USD 9,528.7 million by 2033. The adoption of fishing reels is likely to advance at a CAGR of 4.9% during the forecast period.
A significant driver for the fish reels market is the increasing participation of women in recreational fishing. With more women taking up fishing as a hobby or sport, there is a growing demand for fishing reels that cater to their specific needs.
This includes lightweight and ergonomically designed reels that provide better handling and comfort for female anglers. Manufacturers that recognize and address this segment can tap into a previously underserved market, unlocking new growth prospects.
A prominent driver lies in the expanding popularity of kayak fishing. As more anglers turn to kayaks for their fishing adventures, there is a need for specialized reels that are compact, lightweight, and resistant to water exposure. The development of reels tailored specifically for kayak fishing can drive market growth and meet the unique requirements of this growing segment.
The emergence of niche fishing styles and techniques presents untapped opportunities. For example, fly fishing, ice fishing, and saltwater surfcasting require reels with specific features and capabilities. Manufacturers that focus on designing reels optimized for these niche fishing styles can capture a dedicated customer base and gain a competitive advantage.
Environmental concerns and sustainability have become increasingly important factors driving consumer preferences. Anglers are seeking reels made from eco-friendly materials, such as recycled or biodegradable components, as well as reels designed for minimal impact on aquatic ecosystems.
Companies that prioritize sustainability and offer environmentally conscious options can attract environmentally conscious anglers and differentiate themselves in the market.
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 5,894.3 million |
| Projected Market Size (2033) | USD 9,528.7 million |
| CAGR through (2023 to 2033) | 4.9% |
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Demand for fishing reels grew at a 3.6% CAGR between 2018 and 2022. Fishing reels are either hand-held or fixed on the gunwales of boats and are used to wind and pack fish in conjunction with fishing rods. The fishing reels market has been steadily growing in recent years, owing to a thriving fisheries industry and in line with the global trend of leisure activities gaining popularity.
However, with revival of manufacturing industry, distribution networks, and production activities across various sectors, FMI projects the global fishing reels market to achieve its pre-pandemic status over the forecast period, growing at a 4.9% CAGR.
| Period | Market Size (in USD million) |
|---|---|
| 2018 | USD 4,879.8 million |
| 2022 | USD 5,629.1 million |
| 2023 | USD 5,894.3 million |
| 2033 | USD 9,528.7 million |
Casting a Line for Success: Unraveling the Enigmatic Forces Fueling the Surge in Fishing Reel Demand
The rising popularity of recreational activities among millennials such as fishing is likely to fuel demand for the product over the projection period. To boost their market share, leading players in the fishing reels market are focusing on collaboration with sports fishing players for product customization, innovation, and product USP.
Businesses are expanding their market reach by using e-Commerce and other digital platforms to reach individual and fishing club buyers. The fishing reels market is expected to grow steadily over the coming years, due to the continued increases in demand from recreational anglers across different landscapes.
Unveiling the Angling Enthusiasts: Exploring the Key Consumer Demographic Reeling in the Fishing Reels Market
The growing enthusiasm in millennial and generation-Z population to develop fishing skills as a quest to learn new activities will bode well for fishing reels market.
Soaring popularity of outdoor recreational activities have created a surge in the demand for fishing reels, correspondingly encouraging market players to invest in promotional activities as well as new marketing strategies.
The introduction and launch of new fishing devices has become a common practice to woo customers. The capability of manufacturers to deliver better material quality reels on the back of improved manufacturing processes is improving sales prospects. Some companies are even offering advanced technologies to carve a niche in the fishing reels market.
Navigating the Tangled Waters: Overcoming Barriers and Unleashing the Full Sales Potential in the Fishing Reels Market
In the wake of the global pandemic, restrictions imposed on traveling and wandering outside impacted the global fishing reels market undesirably, leading to a sharp drop in demand and sales.
Emerging brands in the past year were impacted mostly. Some of the newer companies had established huge number of franchises since the past few years. But due to restrictions on opening of non-essential businesses, their operations were grossly impacted.
The disruption in the supply chain and the disturbance in the logistic sector due to the outbreak had adverse effect on the sales of fishing reels. Limited availability of raw material suspended production. Also, due to lockdown, the manufacturing units across the globe were also shutdown, hampering the growth of fishing reels market.
The North American fishing reels market accounted for 30.0% of global sales in 2022. The United States is expected to contribute over three-quarters of sales in North America. The rising trend of recreational sports activities in the region can be attributed to the growing interest of the regional population in fishing.
The availability of vast open land in North America and the legalization of fishing in the region presents a conducive environment for the expansion of the market. In addition to this, different types of fishing tournaments are organized in the region, which is another remarkable factor creating healthy demand for a wide range of reels.
According to the National Oceanic and Atmospheric Administration (NOAA), an American scientific and regulatory agency, in recreational fishing activities, USA anglers caught more than 950 million fish and released 64 percent of those caught.
The total recreational harvest was estimated at 341 million fish weighing 350 million pounds. Such a high quantity of fishing in the region is another factor supporting the market growth.
The United Kingdom is expected to be a key beneficiary of the Europe market, expanding at a 4.6% CAGR over the forecast period.
The trend of aquafarming comprising marine fishing, freshwater fishing, and fish farming has been on the rise in the region, alternatively, leading to adoption of fishing reels by the respective population.
The increasing presence of top global brands in the region is leading to rough competition among the players. To tackle such barriers, players are increasingly adapting new product launches and innovation in the existing reels.
In 2022, Australia will account for over 4.2% market share in Oceania. In Australia, there is a high presence of chain retail stores. The availability of fishing reels in such retail stores as well as large independent stores is a key factor leading to market growth.
The key players in the region such as Tackle World and BCF Australia have successfully carved a niche through such stores and have gained advantage over other players in the region. Independent stores also have online visibility in addition to the mail-order presence across the region.
For instance, Fishing Tackle Shop, The Tackle Warehouse in Brisbane, Tackle HQ in Perth, and Otto’s Tackle World in Sydney have found different strategies to setup their shop outsides of town retail shops at parks, gas stations etc., where they get the advantage of large accessible areas and are able to better display their fishing reels.
Principal Consultant
Based on product type, the spinning reel is projected to account for 47.7% of the total fishing reels market share in 2022. Spinning reels are gaining popularity among consumers due to their high efficiency and durability. Not only the experienced anglers but beginners also tend to prefer spinning reel due to their ease of use and efficiency in all type of weathers.
The features such as drag adjustment on top and open-face design are complementary to the anglers. The availability of easy casting with natural holding position gives anglers a considerable balance. Such features of the spinning reels have attracted a large pool of customers to the product and are the most prominent reel type in this category.
As per FMI’s analysis, stainless steel reels accounted for 26.3% of demand in the market in 2022. Demand for stainless steel reels is expected to increase due to their lightweight nature, in addition to the greater number of stainless steel reels being offered in most stores.
The manufacturers are increasingly offering stainless steel and electroplated components in these reels that provide better handling while fishing. Such factors are anticipated to enable growth in the coming years.
As per FMI’s analysis, freshwater fishing will account for 66.2% of demand in the market in 2022. With freshwater widely accessible across many regions, freshwater fishing attracted anglers in large numbers in 2022. The freshwater participation rate jumped to 14%, the highest rate since 2010, according to Outdoor Foundation and the Recreational Boating & Fishing Foundation.
Saltwater fishing remained the second most popular type of fishing, accounting for 33.4% of the market in 2022, which included 1.3 million new participants. Saltwater fishing participation is experiencing an upward trend, and anticipated to expand at a 6.3% CAGR over the forecast period.
In terms of sales channels, outdoor sport stores will hold a share of 25.8% in 2022. However, online sales channel is anticipated to emerge as a preferred channel during the forecast period.
The availability and accessibility of a wide range of products on online platforms and scope for price, product designs, and features comparison will aid expansion of online sales channels.
Benefits such as safe transaction/payment and doorstep delivery are most appealing to customers. Online platforms will be the most lucrative sales channel for fishing reels over the projection years.
In the realm of fishing reels, fierce competition prevails among industry giants and innovative challengers. Shimano Inc. and Daiwa Corporation, Inc. dominate the market with their extensive product portfolios and cutting-edge technologies.
Each brand showcases its unique strengths: Shimano excels in precision engineering and durability, Daiwa impresses with advanced features and sleek designs, and Penn stands out for its rugged performance in demanding environments.
Emerging players like Abu Garcia and Okuma Fishing Tackle Co., Ltd. are gaining momentum with their focus on affordability and value. As anglers seek high-performance reels for various fishing styles, the market is witnessing a surge in product innovation, enhanced gear ratios, lightweight materials, and seamless drag systems.
The battle for market share intensifies as manufacturers expand their distribution networks, forge strategic partnerships, and leverage digital platforms for enhanced customer engagement. With the industry poised for growth, the competitive landscape of the fishing reels market promises a dynamic arena where innovation and excellence reign supreme.
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Strategies for Fishing Reels Manufacturers to Expand in the Market
Product Portfolio:
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 5,894.3 million |
| Market Value in 2033 | USD 9,528.7 million |
| Growth Rate | CAGR of 4.9% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
Product Type, Material Type, Fishing Type, Sales Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC Countries, South Africa, Israel |
| 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, L.L.C.; Tackle World; TICA FISHING TACKLE; BCF Australia; Pure Fishing, Inc. (Penn) |
| Customization & Pricing | Available upon Request |
The current value of the global fishing reels industry is estimated to be around USD 5,894.3 million in 2023.
The fishing reels market is expected to record a CAGR of 4.9% during the forecast period.
Increasing participation in recreational fishing and advancements in fishing reel technologies.
Smart technology integration and eco-friendly materials are emerging trends in the fishing reels market.
The fishing reels market is forecasted to surpass USD 9,528.7 million by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Spinning Reel 5.2. Baitcasting Reel 5.3. Spincast Reel 5.4. Fly Reel 5.5. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material Type 6.1. Stainless Steel 6.2. Aluminium 6.3. Graphite 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Fishing Type 7.1. Freshwater Fishing 7.2. Saltwater Fishing 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 8.1. Direct Sales 8.2. Hypermarkets/ Supermarkets 8.3. Specialty Stores 8.4. Outdoor Sports Store 8.5. Online Retailers 8.6. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. SHIMANO INC. 17.2. Daiwa Corporation 17.3. Abu Garcia 17.4. NingBo HaiBao fishing tackle co., Ltd. 17.5. OKUMA FISHING TACKLE CO., LTD 17.6. The Orvis Company, Inc. 17.7. BPS Direct, L.L.C. 17.8. Tackle World 17.9. TICA FISHING TACKLE 17.10. BCF Australia 17.11. Pure Fishing, Inc. (Penn) 18. Assumptions & Acronyms Used 19. Research Methodology
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Fishing Reels Market
