Fishing Reels Market 2022 Industry Manufacturing Business Analysis, Share, Business Insights, Key Challenges and Forecast Analysis by 2027 | Abu Garcia, Alvey Reels, Daiwa Corporation, Elec-Tra-Mate, Florida Fishing Products, Hooker Electric Inc., Mitchel

Astute Analytica recently updated a new research report on the global fishing reels market. This research report has both primary and secondary data sources. This analysis includes the government strategy, market situation, competitive landscape, historic data, current market trends, technical inventions, future technologies, and technical growth in associated industries.

Global Fishing Reels Market is estimated to witness a rise in revenue from US$ 3,883.0 Mn in 2021 to US$ 5,075.5 Mn by 2027. The market is registering a CAGR of 4.6% during the forecast period 2022-2027.

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The global market is continuously changing to meet changing customer demand and trends. In recent years, the market has become increasingly influenced by digital innovation, the COVID-19 pandemic, and a greater emphasis on sustainable and healthy behaviors. Digitalization has put the client in control, allowing them to compare and scrutinize things in real-time.

In order to sustain client loyalty in this environment, consumer goods companies are enhancing their marketing methods and brand recognition. The leading players in the market have introduced new products to fulfill an ever-increasing range of human needs and aspirations. These methods, along with higher margins and portfolio weightings in fast-growing areas, have resulted in outstanding shareholder returns.

Impact Analysis of COVID-19

The COVID-19 pandemic changed how people buy and wreaked havoc on the market. Cleaning supplies, shelf-stable food, beverages, and toilet paper became scarce in certain nations. Furthermore, the function of sustainability is becoming increasingly important in the consumer goods sector; there is a growing desire for more sustainable and ethically manufactured products across the board.

However, the industry's fundamentals and stock market performance have deteriorated. In terms of economic profit contribution, several players began to pull ahead of the pack. The US market before COVID-19, for example, is instructive. In the United States, specific brands (with more than $750 million in revenue) lost volume at a pace of 1.5%. Small brands increased by 1.7%, while private labels increased by 4.3%.

Regional Insights

By Reel Type segment of the Global Fishing Reels Market is sub-segmented into:
Spincast Reels
Spinning Reels
Baitcast Reels
Round Baitcasting Reel
Low-Profile Baitcasting Reel
Electric Reel
Fly fishing reel
Offshore Reels
Others

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By Reel Mechanism segment of the Global Fishing Reels Market is sub-segmented into:
Direct-drive reel
Anti-reverse reel

By Price Range segment of the Global Fishing Reels Market is sub-segmented into:
< US$ 100
US$ 100 - 500
US$ 500 - 1,500
> US$ 1,500

By Sales Channel segment of the Global Fishing Reels Market is sub-segmented into:
Offline
Sports Stores
Departmental Stores
Online
E-commerce websites

By Application segment of the Global Fishing Reels Market is sub-segmented into:
Freshwater Fishing
Saltwater Fishing

By Region segment of the Global Fishing Reels Market is sub-segmented into:
North America
The U.S.
Canada
Mexico
Europe
The UK
Germany
France
Italy
Spain
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
ASEAN
Oceania
Australia
New Zealand
Rest of Oceania
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Argentina
Brazil
Rest of South America

Key Players Insights
The key players operating in the market include Abu Garcia, Alvey Reels, Daiwa Corporation, Elec-Tra-Mate, Florida Fishing Products, Hooker Electric Inc., Mitchell Reel Co., Shimano Inc., Shakespeare Company. LLC, Zebco, Pokee Fishing, Cabela's Inc. and AFTCO Mfg among others.

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This release was published on openPR.