Fishing Reels Market Size Worth $7,990.74 Million By 2032 | CAGR: 4.50%

The global fishing reels market size is expected to reach USD 7,990.74 Million by 2032, according to a new study by Polaris Market Research. The report “Fishing Reels Market Share, Size, Trends, Industry Analysis Report, By Product Type (Spinning, Baitcasting, Spincast, Fly); By Material Type; By Fishing Type; By Sales Channel; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The growing popularity of recreational activities, particularly fishing, is a key driver behind the growth of the global market. Recreational fishing has witnessed a surge in participation worldwide as people increasingly seek outdoor experiences, leisure activities, and opportunities for relaxation. According to a national survey on recreational fishers, it has been found that a significant proportion of Australian adults, specifically one in five, engage in recreational fishing annually. Approximately 4.2 million adult Australians are estimated to engage in the recreational fishery annually. This popular activity enhances personal well-being and substantially contributes to the Australian economy. The survey indicates that recreational fishing supports approximately 100,000 jobs and contributes a noteworthy $11 Million to the economy. This trend has created a higher demand for fishing reels, which are essential tools for anglers.

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Government initiatives aim to promote responsible and sustainable fishing practices to protect fish populations and marine ecosystems. To better support recreational saltwater anglers in the United States and the communities that rely on them, NOAA Fisheries developed a policy. These initiatives create a conducive environment for the recreational fishing sector to thrive, leading to increased demand for fishing reels and related equipment. This will further fuel the global market in the coming years.

Fishing Reels Market Report Highlights

• Spinning Reel segment is anticipated to witness faster growth in the coming years due to versatility and technological advancements.
• Aluminum segment accounted for the larger market share owing to the excellent strength-to-weight ratio, corrosion resistance, rigidity, stability, and machinability.
• Saltwater Fishing segment is projected to experience a larger revenue share due to the increasing popularity of saltwater fishing and the expansion of offshore fishing activities.
• Online Retailer segment is expected to have higher growth owing to the increasing popularity of online shopping.
• APAC is projected to register a higher growth rate in the study period owing to the growing government initiatives in developing countries.
• North America is expected to grow a larger revenue share owing to the rising government sustainable environmental programs.
• The global players include Shimano, Daiwa, Abu Garcia, Penn, Okuma, Pflueger, Lew's, Quantum, Mitchell, Shakespeare, KastKing, Fenwick, Zebco, Hardy, Orvis, St. Croix, Rapala, Van Staal, G. Loomis, 13 Fishing, Accurate, Islander, Ross, Redington & Sage.

Polaris Market Research has segmented the fishing reels market report based on product type, material type, fishing type, sales channel, and region:

Fishing Reels, Product Type Outlook (Revenue - USD Million, 2019 - 2032)

• Spinning Reel
• Baitcasting Reel
• Spincast Reel
• Fly Reel
• Others

Fishing Reels, Material Type Outlook (Revenue - USD Million, 2019 - 2032)

• Stainless Steel
• Aluminum
• Graphite
• Others

Fishing Reels, Fishing Type Outlook (Revenue - USD Million, 2019 - 2032)

• Freshwater Fishing
• Saltwater Fishing

Fishing Reels, Sales Channel Outlook (Revenue - USD Million, 2019 - 2032)

• Direct Sales
• Hypermarkets/ Supermarkets
• Specialty Stores
• Outdoor Sports Store
• Online Retailers
• Others

Fishing Reels, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Fishing Reels Market Report Scope