Fishing Reels Market Size Witnesses Robust Growth Rate of CAGR 5.10%, Exceeding US$ 6.4 Billion by 2028

The latest report published by IMARC Group, titled "Fishing Reels Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on fishing reels market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global fishing reels market size reached US$ 4.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.10% during 2023-2028.

Fishing reels are intricate mechanical devices integral to the sport and activity of fishing. Designed to hold, deploy, and retrieve fishing lines. These reels play a pivotal role in the angler's success and overall fishing experience. They are commercially available in various types, including spinning reels, baitcasting reels, and fly reels, each tailored for specific fishing techniques and environments. A well-crafted fishing reel provides smooth line casting and retrieval, offers durability against saltwater and freshwater conditions, and ensures better control over the catch. Moreover, advanced reels are engineered to reduce line tangling and handle different line weights, allowing anglers to target numerous fish species. The precision, efficiency, and versatility of fishing reels amplify the advantages of their usage, making them indispensable tools for both recreational and professional fishermen.

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Market Trends:

The global fishing reels market is majorly driven by the rising popularity of recreational fishing and the increasing participation in sportfishing tournaments is significantly boosting the demand for high-quality fishing reels. Additionally, advancements in reel technology, emphasizing lightweight materials and enhanced gear ratios, are appealing to seasoned anglers seeking to upgrade their equipment. Trends point towards a rise in demand for reels that cater to specific types of fishing, such as deep-sea fishing or fly fishing. Along with this, the emergence of e-commerce platforms and online retail has broadened accessibility to a wider range of fishing reels, catering to different budgets and requirements. Apart from this, environmental initiatives promoting sustainable fishing practices have also indirectly influenced the market, as manufacturers develop reels that align with catch-and-release principles. As fishing evolves from merely a leisure activity to a prominent sport, and with increasing disposable incomes globally, the fishing reels market is creating a positive market outlook.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• BCF Australia
• BPS Direct LLC.
• Globeride Inc.
• Kastking
• Okuma Fishing Tackle Co. Ltd.
• Piscifun
• Pure Fishing Inc.
• Shimano Inc.
• Tackle World
• The Orvis Company Inc
• Tica Fishing Tackle
• Zebco (Rather Outdoors Corporation)

Fishing Reels Market Segmentation:

Our report has categorized the market based on region, product type, material, fishing type, and distribution channel.

Breakup by Product Type:
• Spinning
• Spincast
• Fly Reel
• Baitcasting
• Others

Breakup by Material:
• Aluminum
• Graphite
• Stainless Steel
• Others

Breakup by Fishing Type:
• Saltwater
• Freshwater

Breakup by Distribution Channel:
• Modern Trade
• Outdoor Sport Stores
• Online Sales
• Others

Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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This release was published on openPR.