According to the research report, the global fishing reels market was valued at USD 5404.89 million in 2023 and is expected to reach USD 7,990.74 Million by 2032, to grow at a CAGR of 4.50% during the forecast period.
Market Overview
Fishing reels are essential components in angling, facilitating the deployment and retrieval of fishing lines. They are integral to various fishing techniques, including freshwater, saltwater, fly fishing, and ice fishing. The market encompasses a range of reel types, such as spinning reels, baitcasting reels, and spincast reels, catering to both amateur and professional anglers.
The market's growth is further bolstered by the increasing popularity of fishing as a recreational activity, advancements in reel materials and design, and the expansion of e-commerce platforms that make fishing equipment more accessible to consumers worldwide.
Market Segmentation
By Product Type:
Spinning Reels: Dominating the market with a 32.6% revenue share in 2024, spinning reels are favored for their ease of use, versatility, and durability. They are particularly popular among beginners and are suitable for various fishing styles.
Baitcasting Reels: Preferred by experienced anglers for their precision and control, baitcasting reels are ideal for targeting larger fish species and are commonly used in freshwater and saltwater fishing.
Spincast Reels: Known for their simplicity and affordability, spincast reels are user-friendly and often recommended for novice anglers and children.
Others: This category includes specialized reels such as fly reels and trolling reels, catering to specific fishing techniques and preferences.
By Distribution Channel:
Offline: In 2024, offline channels, including specialty stores, sporting goods retailers, and department stores, accounted for the largest revenue share. Consumers often prefer in-person purchases to assess product quality and receive expert advice.
Online: The online segment is projected to experience the fastest growth, driven by the convenience of e-commerce platforms, wider product selections, and competitive pricing.
Regional Analysis
North America:
Holding a dominant 60.3% revenue share in 2024, North America's market is fueled by a strong fishing culture, abundant freshwater and saltwater fishing locations, and the presence of leading fishing equipment manufacturers. The United States, in particular, sees over 49 million recreational anglers annually, contributing significantly to market demand.
Europe:
Europe's market is characterized by a rich fishing heritage and growing interest in sustainable fishing practices. Countries like Germany and the UK are witnessing increased demand for high-performance reels, driven by recreational fishing and eco-tourism. F
Asia-Pacific:
Projected to experience the highest CAGR from 2025 to 2030, the Asia-Pacific region benefits from rising disposable incomes, government initiatives promoting fishing tourism, and expanding e-commerce platforms. Countries like China, Japan, and India are key contributors to regional growth.
Latin America and Middle East & Africa:
These regions are emerging markets for fishing reels, with growth driven by increasing recreational fishing activities and investments in fishing infrastructure. Brazil, Argentina, the UAE, and South Africa are notable markets within these regions.
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Key Companies
The fishing reels market is highly competitive, with several key players focusing on innovation, product diversification, and strategic partnerships to strengthen their market positions. Notable companies include:
SHIMANO INC.: Renowned for high-performance spinning and baitcasting reels, Shimano emphasizes lightweight carbon-fiber technology and digital control braking systems.
DAIWA CORPORATION: Specializing in precision-engineered reels for both freshwater and saltwater fishing, Daiwa invests in advanced technologies like Magsealed bearings for enhanced durability.
Abu Garcia: Known for premium baitcasting reels, Abu Garcia focuses on ergonomic designs and digitally controlled braking systems to cater to professional anglers.
Pure Fishing, Inc.: Offering a diverse range of fishing equipment, Pure Fishing's portfolio includes brands like PENN and Pflueger, catering to various fishing styles and preferences.
OKUMA FISHING TACKLE CO., LTD.: Targeting budget-conscious consumers, Okuma provides affordable reels with features like smooth drag systems and lightweight construction.
Lew's Fishing: Focusing on innovation and performance, Lew's offers a range of reels designed for both amateur and professional anglers.
These companies are investing in research and development to introduce advanced features in fishing reels, such as improved drag systems, corrosion resistance, and ergonomic designs, to cater to the evolving needs of anglers.
Conclusion
The global fishing reels market is set for robust growth, propelled by increasing recreational fishing activities, technological advancements, and a shift towards sustainable practices. While challenges like counterfeit products and environmental concerns persist, the market's future remains promising, with ample opportunities for innovation and expansion.
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