The market for fishing reels is projected to be worth US$ 5,894.3 million in 2023 and US$ 9,528.7 million in 2033. Throughout the projected period, the use of fishing reels is anticipated to grow at a CAGR of 4.9%.
Reel design has opportunity for innovation with the rise of IoT devices and connection. For example, sensors for real-time data on water conditions, fish behaviour, and reel performance might be incorporated. This information can be used to improve catch rates, improve fishing methods, and give fishers insightful information.
The emphasis on sustainability is one trend that is growing. Anglers’ growing awareness of their impact on the environment has resulted in a desire for environmentally friendly reel materials, friction- and energy-saving gear systems, and reel recycling programmes for damaged or outdated reels.
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Companies that prioritize sustainability will gain a competitive edge and cater to the growing market segment of environmentally conscious anglers. Customization and personalization are gaining traction in the fishing reels market. Anglers seek reels that can be tailored to their specific needs and preferences, including adjustable drag systems, interchangeable handles, and spool options. Manufacturers that offer customization options will attract a loyal customer base.
In terms of design, compact and lightweight reels are becoming more popular, especially for anglers who prioritize mobility and convenience. Advancements in materials, such as carbon fiber and magnesium alloys, allow for stronger and lighter reel construction without compromising durability. The advent of social media and online platforms has opened up new marketing and sales channels for fishing reel manufacturers. Influencer marketing, user-generated content and direct-to-consumer sales provide opportunities to reach a wider audience and engage with customers on a more personal level.
Key Takeaways from this Market:
- As per FMI, the United States is spearheading the growth across North America, accounting for nearly 22.8% of the market share in 2022.
- Sales of fishing reels are expected to surge at 6.6% CAGR across China in 2022.
- Germany is expected to account for 4.5% of the total market share in Europe.
- As per Future Market Insights, the spinning reel segment is expected to dominate the product type with a market share of 47.7%.
- As per FMI, the stainless steel segment is poised to expand at over 26.3% CAGR in 2022.
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“The fishing reels market is being driven by technological advancements, innovative designs, and a focus on enhancing the user experience for anglers,” – remarks an analyst at FMI.
How Key Players are Revolutionizing the Manufacturing of this Market?
Key players in the fishing reels market are revolutionizing the manufacturing process through innovative techniques and advanced technologies. They are investing in research and development to enhance product performance, durability, and user experience. Manufacturers are utilizing materials like carbon fiber, magnesium, and aluminum alloys to create lightweight yet robust reels.
Precision engineering, computer-aided design, and manufacturing techniques ensure smooth operation and increased casting distance. Integration of advanced features such as advanced drag systems, gear ratios, and ergonomic designs further enhance the functionality of fishing reels. Key players also focus on sustainability, incorporating eco-friendly materials and manufacturing processes. Overall, these advancements revolutionize the fishing reels market, offering anglers improved performance, durability, and a more enjoyable fishing experience.
Key Players in the Market:
- 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)
Product Portfolio:
- Shimano Inc. offers a comprehensive range of cycling components and accessories, including drivetrain systems, brakes, wheels, pedals, and apparel. Their product lineup caters to various cycling disciplines, from road and mountain biking to urban commuting and e-bikes, ensuring high performance and reliability.
- Daiwa Corporation specializes in fishing tackle and equipment. Their product portfolio includes fishing reels, rods, lines, lures, and accessories for both freshwater and saltwater fishing. With a focus on quality and innovation, Daiwa offers a diverse range of fishing gear to meet the needs of anglers at all skill levels.
More Insights Available:
Future Market Insights offers an unbiased analysis of the fishing reels market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the fishing reels market, the report is segmented on the basis of product type (spinning reel, baitcasting reel, spin-cast reel, fly reel and others (offshore, conventional, surf fishing, etc.), material type (stainless steel, aluminium, graphite and others (plastic, rubber, etc.), fishing type (freshwater fishing and saltwater fishing), by sales channel (direct sales, hypermarkets/ supermarkets, speciality stores, outdoor sports store, online retailers and other sales channel), across five major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
Market Segmentation:
By Product Type:
- Spinning Reel
- Baitcasting Reel
- Spincast Reel
- Fly Reel
- Others
By Material Type:
- Stainless Steel
- Aluminium
- Graphite
- Others
By Fishing Type:
- Freshwater Fishing
- Saltwater Fishing
By Sales Channel:
- Direct Sales
- Hypermarkets/ Supermarkets
- Specialty Stores
- Outdoor Sports Store
- Online Retailers
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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