New York, April 12, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published the latest research study on Fishing Reels Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Spinning Reel, Baitcasting Reel, Spincast Reel, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others). The report highlights key factors driving the market growth and prominent players along with their developments in the market.
| Report Coverage | Details |
| Market Size Value in | US$ 1,377.28 Million in 2021 |
| Market Size Value by | US$ 2,046.61 Million by 2028 |
| Growth rate | CAGR of 5.8% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 151 |
| No. Tables | 83 |
| No. of Charts & Figures | 77 |
| Historical data available | Yes |
| Segments covered | Type , Material , and Distribution Channel |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Fishing Reels Market: Competition Landscape and Key Developments
Accurate Fishing; Innovative Reels Technologies Ltd.; Rather Outdoors, LLC.; The Orvis Company; Piscifun; Eposeidon Outdoor Adventure Ltd.; Cadence; JiuYu Fishing Tackle Co., Ltd.; NingBo HaiBao fishing tackle co., Ltd.; and Cabela's LLC. These companies have been identified as the key market players. They operate their production and distribution services in various countries worldwide, which helps them cater to a broader customer base.
Get Exclusive Sample Pages of Fishing Reels Market Size - COVID-19 Impact and Global Analysis with Strategic Insights at - https://www.theinsightpartners.com/sample/TIPRE00020622/
In 2020, Europe held the largest share of the global fishing reels market. The various countries from the Europe region are witnessing an upsurge due to growth in sports and recreational activities which is fueling the market growth during the forecast period.
The spinning reels segment held the largest share of the global fishing reels market in 2020. The spinning reel is the most popular reel used by fishermen of all levels because of its superior open-faced design. Due to the benefits and ease of use, the demand for the spinning reel is expected to grow during the forecast period.
Based on the geography, the fishing reels market is segmented into North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2020, Europe accounted for the largest portion of the global fishing reels market share and is expected to register the highest CAGR over the forecast period. Europe is considered one of the largest fishing reels markets worldwide due to an increasing number of anglers across the region. The fishing reels market in Europe is expected to grow at a remarkable CAGR over the forecast period. The significant presence of fishing tackle manufacturers in this region is another key factor fueling the fishing reels market growth. According to the Social and Economic Aspects of Recreational Angling report 2019, around 2,900 manufacturers and wholesalers and 12,900 retail and sports serving shops are present across the region. An increased presence of manufacturers is expected to lead to various developments and innovations in the development of the fishing reels market. At the same time, the rise in the number of retail shops will enhance the availability of fishing reels, supporting the fishing reels market growth in Europe.
Growing Product Features Awareness to Drive Fishing Reels Market Growth During the Forecast Period
Anglers prefer a specific style of fishing reel based on their location, target species of fish, budget, and level of experience. For instance, spinners or spinning reels are the most popular product of choice among new fishers and are preferred due to their ease of use and low cost. They are ideal for fishing with light baits such as live baits and soft plastics. On the other hand, professional anglers prefer baitcasting reels as they last longer than spinning gear. In addition, these reels allow anglers to cast spinnerbaits, crankbaits, and jigs more accurately. However, they are priced relatively higher and are suitable for experienced anglers.
The spinning reel is quite popular among anglers of all levels due to its superior open-faced design, providing the required adaptability while offering excellent usability and accuracy. However, increasing participation and availability of information has led to the growing interest in enhanced premium products. The baitcasting reels, although highly priced have been witnessing increasing demand across the globe. Thus, the rising awareness regarding the use and benefits of different types of products is driving the fishing reels market growth substantially.
Inquiry Before Buying: https://www.theinsightpartners.com/inquiry/TIPRE00020622/
Fishing Reels Market: Segment Overview
The spinning reel segment held the largest share of the global fishing reels market in 2020. Spinning reels, often known as spinners, are handy for fishing with lighter baits, such as live baits or soft plastics. Spinners are the most popular among new fishers. Thus, with associated benefits and ease of use, the demand for the spinning reel segment is expected to grow during the forecast period.
Impact of COVID-19 Pandemic on Fishing Reels Market
The specialty stores segment held the largest share of the global fishing reels market in 2020. A substantial proportion of consumers around the world continue to favor these stores since these stores allow them to assess the quality and design of products, while the presence of trained staff help the customers with the required assistance in making a decision.
During the COVID-19 pandemic, the consumer goods industry faced unprecedented challenges due to the shortage in raw material supply, the shutdown of factories, labor shortage, and other operational difficulties under COVID-19 safety protocols. The shutdown of manufacturing units, difficulty in procuring raw materials, and restrictions on imports and exports have hampered the market considerably. The delay in shipping and the increase in shipping cost had negatively impacted the supply, limiting the market's growth.
Connect with Our Research Analyst At: https://www.theinsightpartners.com/speak-to-analyst/TIPRE00020622/
Introducing the COVID-19 vaccine has eased the situation to some extent, leading to a rise in business activities across the world. Also, with relaxation in Covid-19 related norms, people are increasingly getting involved in leisure activities, and the demand for fishing gear, including reels, has risen. As per the study conducted by the Recreational Boating and Fishing Foundation in 2021, 55 million Americans went fishing in 2020, among which 4.4 million went fishing the first time, which is a 42% increase. Thus, the fishing industry's increasing prospects in the post-pandemic scenario are expected to drive market growth during the forecast period.
The online retail segment is the fastest growing segment in the global fishing reels market during the forecasted period. The online segment has grown significantly over the last decade. Moreover, various developments in the internet space have occurred in recent years with many manufacturers utilizing e-commerce and social media platforms for marketing as well as distribution.
Buy Premium Copy of Fishing Reels Market Size, Share, Revenue, Strategic Insights and Forecasts 2021-2028 Research Report at: https://www.theinsightpartners.com/buy/TIPRE00020622/
Asia Pacific is estimated to register the fastest CAGR in the global fishing reels market over the forecast period. Various countries from the Asia Pacific region are witnessing a surge in fishing activities due to an increasing trend of recreational fishing across countries such as Australia, China, India, among others. Along with this, the different types of fishing activities practiced in different countries across the region will have a positive impact on the fishing reels market across the Asia Pacific.
Browse More Related Industry Latest Reports –
Adjustable Standing Desks Market Forecast to 2028 - COVID-19 Impact and Global Analysis By End-User (Households, Commercials, Institutional); Material (Wood, Metal, Fiber, Others) and Geography
Alcohol-Based Wipes Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Baby Wipes, Personal Care Wipes, Others); Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, Others) and Geography
Alcohol-Free Mouthwash Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Function (Anti-bacterial, Breath-refreshing, Mouth Moisturizing, Others); Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, Others) and Geography
All Purpose Cleanser Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Form (Liquid, Powder); End User (Residential, Non-residential) and Geography
Allround Windsurf Booms Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material Type (Fibre, Alloy, Others); Application (Longboards, Shortboards) and Geography
Amethyst Necklace Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Amethyst and Diamond Necklace, Amethyst and Gold Necklace, Amethyst and Silver Necklace, And Others); Distribution channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, And Others) and Geography
Amino Acid Cleanser Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Form (Liquid, Gel); Packaging Type (Bottles, Tubes, Others); Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, Others) and Geography
Art Supplies Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Paints, Drawing Paper/Pads, Pencils, Pens, Highlighters, Brushes, Erasers, And Colors); End User (Home, Commercial, Education, And Independent Professionals); Distribution Channel (Online, Offline) and Geography
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/fishing-reels-market
