Global Fishing Reels Market Size, Share And Growth Analysis For 2024-2033
Fishing Reels Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Fishing Reels Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, August 5, 2024 /EINPresswire.com/ -- The fishing reels market1 has experienced robust growth in recent years, expanding from $5.4 billion in 2023 to $5.73 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to growth in recreational fishing, expansion of fishing tourism, increase in fishing tournaments, expansion of e-commerce platforms, rise in fly fishing popularity.
Strong Future Growth Anticipated
The fishing reels market is projected to continue its strong growth, reaching $7.02 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to increased focus on lightweight design, demand for specialized reels for different species, changes in environmental conservation regulations, customization and personalization, evolution of compact and portable reels.
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Growth Driver Of The Fishing Reels Market
The increasing consumption of fish is expected to propel the growth of the fishing reel market going forward. 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.
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Major Players And Market Trends
Key players in the fishing reels market include Shimano Inc., G. Loomis, L.L.Bean Inc., Pure Fishing Inc., Weihai Guangwei Group Co. Ltd., Hardy & Greys Limited, Penn Fishing Tackle Manufacturing Co.
Product innovations are a key trend gaining popularity in the fishing reels market. Major companies operating in the fishing reels market are focused on developing innovative products and solutions to sustain their position in the market.
Segments:
1) By Product Type: Spinning, Spin-Cast, Fly Reel, Baitcasting, Other Products
2) By Material: Aluminum, Graphite, Stainless Steel, Other Materials
3) By Fishing Type: Freshwater Fishing, Saltwater Fishing
4) By Reel Mechanism: Anti-Reverse Reel, Direct-Drive Reel
5) By Distribution Channel: Modern Trade, Outdoor Sport Stores, Online Sales, Other Distribution Channels
Geographical Insights: North America Leading The Market
North America was the largest region in the fishing reels market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fishing reels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Fishing Reels Market Definition2
Fishing reels are mechanical devices designed to release and retrieve fishing lines attached to fishing rods. The fishing reel controls the release and retrieval of fishing lines, allowing anglers to cast their bait or lures into the water and reel in fish.
Fishing Reels Global Market3 Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Fishing Reels Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on fishing reels market size, fishing reels market drivers and trends, fishing reels market major players, fishing reels competitors' revenues, fishing reels market positioning, and fishing reels market growth across geographies. The fishing reels market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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