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Fishing Reels Market 2023-2032 Trends, Share, Size, Growth, Opportunity And Forecasts
Fishing Reels Market
The Business Research Company's Fishing Reels Global Market Report 2023 identifies The increasing consumption of fish as the major driver for the Fishing Reels market's growth in the forecast period. Fish consumption refers to consuming or eating fish and other seafood as part of one's diet. Fishing reels are used in catching fish, as they are designed to facilitate the angler's ability to hook, fight, and land fish successfully. For instance, in July 2020, according to the Organization for Economic Cooperation and Development (OECD), a US-based intergovernmental organization, 90% of fish production is anticipated to be used as food by 2029.
The global fishing reels market is expected to grow from $5.08 billion in 2022 to $5.4 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The fishing reels market is expected to reach $6.63 billion in 2027 at a CAGR of 5.2%.
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Major competitors in the Fishing Reels market are Shimano Inc., G. Loomis, L.L.Bean Inc., Pure Fishing Inc., Weihai Guangwei Group Co. Ltd., Hardy & Greys Limited
A key trend in the Fishing Reels market includes Product innovations. Major companies operating in the fishing reels market are focused on developing innovative products and solutions to sustain their position in the market. For instance, in July 2023, Shimano Inc., a Japan-based cycling company, launched the Curado 200 M, a low-profile power baitcasting fishing reel. The Curado 200 M is a crucial tool for bass fishermen using heavier lines and lures. It is long-lasting because of its advanced features and optimal performance. As a result of Shimano's MagnumLite (MGL) Spool III's ability to lessen startup inertia, the Curado 200 M features increased line capacity.
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The Fishing Reels market is segmented -
•By Product Type: Spinning, Spin-Cast, Fly Reel, Baitcasting, Other Products
•By Material: Aluminum, Graphite, Stainless Steel, Other Materials
•By Fishing Type: Freshwater Fishing, Saltwater Fishing
•By Reel Mechanism: Anti-Reverse Reel, Direct-Drive Reel
•By Distribution Channel: Modern Trade, Outdoor Sport Stores, Online Sales, Other Distribution Channels
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Fishing Reels market.
The Business Research Company's "Global Fishing Reels Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Fishing Reels Market Include:
1. Executive Summary
2. Fishing Reels Market Characteristics
3. Fishing Reels Market Trends And Strategies
4. Fishing Reels Market - Macro Economic Scenario
5. Global Fishing Reels Market Size and Growth
...........
32. Global Fishing Reels Market Competitive Benchmarking
33. Global Fishing Reels Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Fishing Reels Market
35. Fishing Reels Market Future Outlook and Potential Analysis
36. Appendix
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