Global Fishing Reel Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029

“Global Fishing Reel Market” is the title of an upcoming report offered by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global fishing reel market has been segmented on the basis of type, distribution channel, as well as regions and countries.

Overview:

A fishing reel is a cylindrical device attached to a fishing rod used in winding and stowing line. Modern fishing reels usually have fittings aiding in casting for distance and accuracy, as well as retrieving line. Fishing reels are traditionally used in the recreational sport of angling and competitive casting.

Dynamics:

The surging popularity of recreational activities, such as fly-fishing, sport fishing, bait fishing, etc., especially among younger generations of individuals, is slated to increase the demand for fishing products, thereby, boosting the revue growth of the global fishing reel market over the next 10 years.

In light of the recent COVID-19 outbreak, there have been fishing supply shortages as a result of the operational activities of factories or manufacturing units, and distributors across the world being temporarily shut down. This is expected to have a negative impact of the revenue growth of the fishing reel market. On the flipside, fishing is a great example of a hobby that involves a decent amount of social distancing, as such, this factor is expected to contribute to an increase in future sales, and subsequent market growth for this industry.

Over the last few years, the demand for handcrafted goods has been steadily gaining traction, compelling manufacturers to focus on the development of unique designs that appeal to these individuals. This is expected to have a significant impact on the revue growth of the global fishing reel market in the foreseeable future.

Segmentation of the global fishing reel market is as follows:

On the basis of type, the spinning reel segment accounted for the highest number of revenue shares of the global fishing reel market in 2019. This can be attributed to its uncomplicated operability that makes it both effortless and simple to use.

In terms of distribution channel, the offline distribution channel segment accounted for the highest number of revenue shares of the global fishing reel market in 2019, owing to the fact that individuals are able to gauge the design and quality of these products firsthand, as well as seek the opinion of experienced staff for better purchasing decisions. Examples of offline channels include discount stores, specialty stores, sports outlets and departmental stores. However, the online segment is anticipated to expand at the fastest rate of revenue growth in the coming years, due to the wide range of available products that can be purchased 24/7.

Regional Segmentation and Analysis:

North America accounted for the majority revenue shares of the global fishing reel market in 2019, and is expected to continue to do so over the next decade. This can be accredited to the increasing popularity of fishing activities such as ice fishing, sport fishing, etc., as well as vast zones across this region that have been made available for legal fishing.

The markets in the APAC are expected to index the fastest rate of revenue growth over the next 10 years, owing to the increasing number of budget-friendly game fishing destinations across this region.

Segmentation of the Global Fishing Reels Market:

Segmentation by Distribution Channel:

• Online
• Offline

Segmentation by Type:

• Spinning Reel
• Baitcasting Reel
• Spincast Reel
• Others

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key players profiled in the market report are:

• Stradic
• Daiwa – Globeride Inc.
• Creed
• GT Tackle Ltd.
• Abu Garcia, Pflueger, Penn Spinfisher – Pure Fishing Inc.
• Shimano Inc.
• The Orvis Company Inc.
• Okuma Fishing Tackle Co. Ltd.
• LL Bean Inc.