Press release
Fishing Reels Market New Report Examines By Top Companies Piscifun, Cadence, Cabela's, Rather Outdoors, Accurate Fishing
A fishing reel is a cranking reel attached to a fishing rod used to wind and stow fishing lines. It is traditionally utilized in the recreational sport of angling and competitive casting. The rising awareness regarding various types of fishing reels, the increasing number of anglers in developing countries, and the growing popularity of recreational activities among millennials are the key factors fueling the demand for fishing reels, which is expected to drive the market growth during the forecast period. However, the high preference for rented equipment is likely to hamper the market growth over the long run.
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In Australia, recreational fishing is essential, both socially and economically. Over 3 million people are involved in recreational fishing every year, making it one of Australia's most significant outdoor activities. Further, there is a rise in spending on fishing activities by anglers across the world. For instance, according to the Recreational Boating & Fishing Foundation (US), anglers spent almost US$ 33 billion on freshwater fishing activities in 2019. The rising number of anglers in developing countries is driving the market's growth.
The fishing reels market is analyzed on the basis of type and distribution channel. Based on the type, the fishing reels market is segmented into the spinning reel, baitcasting reel, spin-cast reel, and others. Based on distribution channel, the fishing reels market is categorized into supermarkets and hypermarkets, specialty stores, online retail, and others.
Some of the key players or manufacturers in the global fishing reels market include 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.
The spinning reel is one of the most popular types of fishing reels among anglers owing to its usability as well as low cost. This segment accounted for the largest portion of the global fishing reels market share in 2020. However, increasing awareness and the penetration of e-commerce channels as well as social media marketing has increased the interest and awareness in different types of fishing reels. Thus, the rising awareness is driving the fishing reels market growth.
Based on the distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM)
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