Market Introduction
The global fishing reel market held a market value of USD 3,786.16 million in 2020 and is estimated to reach USD 5,075.54 million by the year 2027. The market is anticipated to register a CAGR of 4.6% during the forecast period.
The rise in recreational activities, coupled with the increasing awareness about health benefits with the consumption of fish, significantly contributes to the growth of the fishing reel market. The favourable demographic trends in the developing regions, especially revolving around millennial population, pushes the demand for fishing reels all across the globe. For instance, China, India, the US, Indonesia, and Brazil possess the world's largest millennial populations. All these countries account for approximately half of the world's millennial population. Thus, such high statistics bolster the growth rate of the fishing reel market in the near future.
On the other hand, the depletion of sea species is projected to hamper the growth rate of the fishing reel market to a certain extent. Moreover, the rise in different types of rods, lures, and camera equipment for fishing further pushes the growth of the fishing reel market.
Growth Influencers:
Growing popularity of recreational activities, among millennials
Recreational activities have shown immense benefits to the participants across the globe. The millennial population is highly targeting activities, such as fishing, for leisure recreation. This demographic, in particular, is favouring the fishing activity to a large extent, in most developing and developed region. Thus, the high preference rate of this activity leads to an increase in the fishing reel market.
Rise in consumer awareness towards the health benefit of fish
Fish constitutes several health benefits, such as omega-3 fatty acids, coupled ith vitamins D and B2. Fish is also rich in phosphorus, calcium, and other minerals, including, iron, iodine, zinc, magnesium, and potassium, among others. The increase awareness created by many organizations aids in the rise in the fishing activities, and thus the usage of fishing reels. For instance, the American Heart Association acclaims eating fish at least two times each week as part of a healthy diet. Therefore, such steps increase the preference rate, and thus, the overall market growth.
Segments Overview:
The global fishing reel market is segmented into reel type, reel mechanism, price range, sales channel, and application.
By Reel Type,
Spincast Reels
Spinning Reels
Baitcast Reels
o Round Baitcasting Reel
o Low-Profile Baitcasting Reel
Electric Reel
Fly fishing Reel
Offshore Reels
Others
The spinning reels segment held the largest market share of around 33%, and is also expected to grow tremendously owing to its growing adoption of spinning reels for fishing activities. The electric reel segment is estimated to grow the fastest at a CAGR of 6.1%.
By Reel Mechanism,
Direct-drive Reel
Anti-reverse Reel
The anti-reverse reel segment is expected to grow at the fastest rate, whereas the direct-drive reel held the largest share owing to the increasing innovation in such technique by the prominent players in the market.
By Price Range,
< US$ 100
US$ 100 500
US$ 500 - 1,500
US$ 1,500
The < US$ 100 segment is anticipated to grow at the largest share owing to the rising preference rate of end users towards this price range. Moreover, the USD 100 500 segment value is estimated to cross USD 1,400 million by 2026.
By Sales Channel,
Offline
o Sports Stores
o Departmental Stores
Online (E-commerce websites)
The offline segment is anticipated to hold the largest market share owing to the high demand for fishing reels from these sports and departmental facilities. The online segment is expected to grow at a rate of 5.6% owing to the rise in e-commerce activities.
By Application
Freshwater Fishing
Saltwater Fishing
The freshwater fishing held the largest share during the base year as there are many end users in developing economies that prefer freshwater fishing methods and techniques.
Regional Overview

By region, the global fishing reel market is divided into Europe, North America, Asia Pacific, Middle East & Africa, and South America.

The European region held the largest market share of around 33%. The increasing technological progressions in sport fishing is driving the growth rate of the fishing reel market in European regions, such as Germany, France the UK, among others.
The Asia Pacific region is anticipated to grow at the fastest growing rate owing to the rising awareness regarding fishing activities and the benefits of it. Moreover, the North American region is also anticipated to grow at a considerable rate during the forecast period.

Competitive Landscape

Key players operating in the global fishing reel market include Alvey Reels, Daiwa Corporation, Elec-Tra-Mate, Florida Fishing Products, Abu Garcia, Hooker Electric, Inc., Mitchell Reel Co., Penn Reels, Scientific Anglers, Shimano, Shakespeare Fishing Tackle, Zebco, Pokee Fishing, Pflueger, Cabela's Inc., AFTCO Mfg., Eagle Claw, among others.

The key four companies in the market hold approximately 70% of the market share. These market players are capitalizing on several strategic activities, such as product launches, mergers & acquisitions, collaborations, and ventures, to sustain in the industry. For instance, in July 2020, Abu Garcia launched one of the lightest spinning reels, Zenon. It is the lightest spinning reel ever produced, tipping the scales at an unbelievably light 4.9 ounces for the Size 20 and 5.4 ounces for the Size 30.

The global fishing reel market report provides insights on the below pointers:


Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Fishing reel market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
Pricing Analysis: Pricing analysis of various metals and other components used in the manufacturing of fishing reels
Manufacturing Cost Analysis: Cost-share of various components in fishing reels, cost analysis of fishing reel types, Cost Analysis of Spincast Reels and other reels, Unit Cost Analysis of fishing reel types
The global fishing reel market report answers questions such as:


What is the market size and forecast of the global fishing reel market?
What are the inhibiting factors and impact of COVID-19 on the global fishing reel market during the assessment period?
Which are the products/segments/applications/areas to invest in over the assessment period in the global fishing reel market?
What is the competitive strategic window for opportunities in the global fishing reel market?
What are the technology trends and regulatory frameworks in the global fishing reel market?
What is the market share of the leading players in the global fishing reel market?
What modes and strategic moves are considered favorable for entering the global fishing reel market?