How Has The Fishing Reels Market Size Evolved In Recent Years?
The fishing reels market has seen considerable growth due to a variety of factors.
•There has been a significant expansion in the fishing reels market in the past few years. The market, currently valued at $5.68 billion in 2024, is projected to rise to $5.99 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.4%.
The substantial growth in historical periods is largely linked to the increase in recreational fishing, the expansion of fishing tourism, the growth in fishing tournaments, the proliferation of e-commerce platforms, and the growing popularity of fly fishing.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Fishing Reels Market?
The fishing reels market is expected to maintain its strong growth trajectory in upcoming years.
• Significant expansion is anticipated in the fishing reels market size in the upcoming years, with a projected value of $7.48 billion in 2029, and a compound annual growth rate (CAGR) of 5.7%.
Factors contributing to this expected growth during the forecast period include an increased emphasis on lightweight designs, a rise in demand for specialized reels for various species, alterations in environmental protection laws, customization trends, and the emergence of compact, easily portable reels. Leading trends for the forecast period encompass advancements in gear technology, material innovations, tech improvements in drag systems, sustainable fishing methods, the incorporation of intelligent technologies, and the utilization of sustainable, environmentally friendly designs with integration of artificial intelligence for fishing aid.
Which Drivers Are Accelerating Growth In The Fishing Reels Market?
The rising demand for fish is predicted to fuel the expansion of the fishing reel market in the future. The term "fish consumption" relates to the inclusion of fish and other seafood in a person's diet. Fishing reels, which are designed to aid the angler in hooking, battling, and successfully capturing fish, are integral to this process. For example, data from the Department of Agriculture, Fisheries and Forestry, a government department in Australia, show that Australians consumed around 350,000 tonnes of seafood in 2021-22, with an average consumption of 13.8 kilograms per person. Simultaneously, the overall value of fishery and aquaculture merchandise exports increased by 2%, reaching $1.28 billion. Therefore, the escalating consumption of fish is propelling the fishing reel market's development.
What Are The Core Segments Of The Global Fishing Reels Market?
The fishing reels market covered in this report is segmented –
1) By Product Type: Spinning, Spin-Cast, Fly Reel, Baitcasting, Other Products
2) By Material: Aluminum, Graphite, Stainless Steel, Other Materials
3) By Fishing Type: Freshwater Fishing, Saltwater Fishing
4) By Reel Mechanism: Anti-Reverse Reel, Direct-Drive Reel
5) By Distribution Channel: Modern Trade, Outdoor Sport Stores, Online Sales, Other Distribution Channels
Subsegments:
1) By Spinning: Light Spinning Reels, Heavy-Duty Spinning Reels
2) By Spin-Cast: Closed-Face Spin-Cast Reels, Open-Face Spin-Cast Reels
3) By Fly Reel: Single-Action Fly Reels, Multiplying Fly Reels
4) By Baitcasting: Low-Profile Baitcasting Reels, Round Baitcasting Reels
5) By Other Products: Trolling Reels, Electric Reels
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Which Emerging Trends Are Reshaping The Fishing Reels Market Size?
In the fishing reels market, product innovation is emerging as a significant trend. Numerous companies in this market are concentrating on creating unique products and solutions to secure their market standing. For instance, Shimano Inc., a Japanese cycling company, released the Curado 200M in July 2023, a high-performance, low-profile baitcasting fishing reel. The Curado 200 M is an essential piece of equipment for bass fishers using heavier lines and baits. Its durability is owed to its top-tier features and exceptional performance. Thanks to the Shimano's MagnumLite (MGL) Spool III, which reduces startup inertia, the Curado 200 M has an increased line capacity. It also incorporates SilentTune technology that minimizes spool noise during casting, and the SVS Infinity braking technology which aids easy control of spool and brake adjustments, particularly when navigating tricky circumstances or changing baits.
Who Are the Key Players in the Fishing Reels Market?
Major companies operating in the fishing reels market include:
• Shimano Inc.
• G. Loomis
• L.L.Bean Inc.
• Pure Fishing Inc.
• Weihai Guangwei Group Co. Ltd.
• Hardy & Greys Limited
• Penn Fishing Tackle Manufacturing Co.
• Hatch Outdoors
• E.A. Pflueger Company
• Quantum Fishing
• Okuma Fishing Tackle Corp.
• Lew's Fishing
• Sage Fly Fishing
• ABU Garcia
• Daiwa Corporation
• Accurate Fishing
• Jiuyu Fishing Tackle Co. Ltd.
• Avet Reels
• Galvan Fly Reels
• Nautilus Reels
• Echo Fly Fishing
• Islander Reels
• Eposeidon Outdoor Adventure Inc
• Lamson
• Loop Tackle Design
• NingBo HaiBao Fishing Tackle Co. Ltd.
• Ross Reels
• Zebco Brands
What are the Regional Insights into the Fishing Reels Market?
North America was the largest region in the fishing reels market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fishing reels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
