Global Fishing Reels Market Forecast to 2028 - COVID-19 Impact and Analysis

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Apr 04, 2022, 14:30 ET

DUBLIN, April 4, 2022 /PRNewswire/ -- The "Fishing Reels Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Spinning Reel, Baitcasting Reel, Spincast Reel, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)" report has been added to ResearchAndMarkets.com's offering.

The global fishing reels market is expected to grow from US$ 6,254.74 million in 2021 to US$ 8,958.36 million by 2028. It is estimated to rise at a CAGR of 5.3% from 2021 to 2028.

The rising awareness regarding different fishing reels, the increasing number of anglers in developing countries, and the growing popularity of recreational activities among consumers are 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 hampering the demand for fishing reels, which is likely to restraint the market over the next few years.

Based on the type, the fishing reels market is segmented into spinning reels, baitcasting reels, spin-cast reels, and other reels. The spinning reel segment accounted for the largest market share in 2020. The spinning reel is quite popular among anglers of all levels due to its superior open-faced design. The popularity of spinning reels is growing due to their advantages, such as feasibility in its usage. Thus, spinning reel segment accounts for the larger portion of the global fishing reels market share which drives the segment growth.

Based on the distribution channel, the fishing reels market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment is anticipated to report a significant rise as, nowadays, consumers are increasingly preferring these stores. The specialty stores segment allows the consumers to assess wide range of quality and design of products that attracts more consumers which aids the segment growth over the forecast period.

The fishing reels market in Europe is expected to grow at the highest CAGR during the forecast period. Europe is considered one of the largest markets for fishing reels worldwide due to an increasing number of anglers across the European countries. As per the Social and Economic Aspects of Recreational Angling report, 2019, more freshwater anglers are present in Europe compared to sea anglers. Thus, an increased prevalence of freshwater anglers is likely to increase the demand for freshwater reels, such as front drag spinning reels, freshwater spinning reels, freshwater trolling reels, in the near future, which is further anticipated to drive the market's growth across the region.

The key players operating in the global fishing reels market are 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.

Reasons to Buy

Highlights key business priorities to assist companies realign their business strategies.
Features key findings and crucial progressive industry trends in the global fishing reels market, thereby allowing players to develop effective long-term strategies.
Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
Scrutinizes in-depth market trends as well as key market drivers and restraints.
Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Fishing Reels Market Landscape
4.1 Market Overview
4.2 Pest Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe PEST Analysis
4.2.3 Asia Pacific PEST Analysis
4.2.4 Middle East & Africa PEST Analysis
4.2.5 Central and South America PEST Analysis
4.3 Expert Opinion

5. Fishing Reels Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Awareness Regarding Different Fishing Reels
5.1.2 Growing Number of Anglers in Developing Countries
5.2 Market Restraints
5.2.1 High Preference for Rented Equipment
5.3 Market Opportunities
5.3.1 Product Innovation
5.4 Future Trends
5.4.1 Growing Popularity of Recreational Activities among Millennials
5.5 Impact Analysis

6. Fishing Reels - Global Market Analysis
6.1 Fishing Reels Market Overview
6.2 Fishing Reels Market -Revenue and Forecast to 2028 (US$ Mn)
6.3 Market Positioning - Fishing Reels Market Players

7. Global Fishing Reels Market Analysis - By Type
7.1 Overview
7.2 Fishing Reels Market, By Category (2020 and 2028)S
7.3 Spinning Reel
7.3.1 Overview
7.3.2 Spinning Reel: Fishing Reels Market - Revenue and Forecast To 2028 (US$ Million)
7.4 Baitcasting Reel
7.4.1 Overview
7.4.2 Baitcasting Reel: Fishing Reels Market - Revenue and Forecast To 2028 (US$ Million)
7.5 Spincast Reel
7.5.1 Overview
7.5.2 Spin Cast Reel: Fishing Reels Market - Revenue and Forecast To 2028 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Fishing Reels Market - Revenue and Forecast To 2028 (US$ Million)

8. Fishing Reels Market Analysis - By Distribution Channel
8.1 Overview
8.2 Fishing Reels Market, By Distribution Channel (2020 and 2028)
8.3 Supermarkets and Hypermarkets
8.3.1 Overview
8.3.2 Supermarkets and Hypermarkets: Fishing Reels Market - Revenue and Forecast To 2028 (US$ Million)
8.4 Specialty Stores
8.4.1 Overview
8.4.2 Specialty Stores: Fishing Reels Market - Revenue and Forecast To 2028 (US$ Million)
8.5 Online Retail
8.5.1 Overview
8.5.2 Online Retail: Fishing Reels Market - Revenue and Forecast To 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Fishing Reels Market - Revenue and Forecast To 2028 (US$ Million)

9. Fishing Reel Market - Geographic Analysis

10. Impact of COVID-19 Pandemic on Global Fishing Reels Market
10.1 Overview - Impact of COVID-19
10.2 North America: Impact Assessment of COVID-19 Pandemic
10.3 Europe: Impact Assessment of COVID-19 Pandemic
10.4 Asia Pacific : Impact Assessment of COVID-19 Pandemic
10.5 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
10.6 South and Central America: Impact Assessment of COVID-19 Pandemic

11. Company Profiles
11.1 Accurate Fishing
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Innovative Reels Technologies Ltd.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Rather Outdoors, LLC.
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 The Orvis Company
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Piscifun
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Eposeidon Outdoor Adventure Ltd.
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Cadence
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 JiuYu Fishing Tackle Co., Ltd.
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 NingBo HaiBao fishing tackle co., Ltd.
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Cabela's LLC
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments

12. Appendix