Fishing Reels Market

Market Overview:

The global fishing reels market size reached US$ 5.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.6 Billion by 2032, exhibiting a growth rate (CAGR) of 4.6% during 2024-2032. The increasing popularity of recreational fishing, the growing number of fishing enthusiasts, technological advancements in fishing reel design, and rising consumer preference for lightweight and durable fishing reels in developing nations are some of the major factors propelling the market.

Fishing reels are mechanical devices used in angling to facilitate the casting and retrieval of fishing line. They are an integral part of fishing equipment, providing control and efficiency in landing fish. They consist of a spool that holds the fishing line, a handle for winding the line, and a drag system that controls the resistance on the line. They come in various types, such as spinning reels, baitcasting reels, and fly reels, each designed for different fishing techniques and target species. Fishing reels enable anglers to cast their lines accurately, control the depth and distance, and smoothly retrieve their catch. They play a vital role in presenting bait or lures, battling fish, and ensuring a successful and enjoyable fishing experience. The choice of fishing reel depends on factors like the fishing method, target species, and personal preference.

The increasing popularity of recreational fishing and the growing number of fishing enthusiasts will stimulate the growth of the market during the forecast period. As more individuals engage in fishing as a leisure activity, the demand for fishing reels is on the rise. Moreover, numerous technological advancements in fishing reel technology such as improved gear ratios, smoother drag systems, and lightweight materials attracting avid anglers seeking high-performance equipment that enhances their fishing experience is positively influencing the market growth. Additionally, the escalating product demand due to the shifting consumer preference toward durable and long-lasting products is propelling the market growth. Besides this, the rise in fishing tourism and the increasing number of fishing competitions and events have augmented the demand for specialized fishing reels that cater to specific techniques and target species. Furthermore, numerous manufacturers are developing reels tailored to the needs of different fishing styles, attracting anglers seeking specialized equipment, thereby contributing to the market growth.

Fishing Reels Market Trends/Drivers:

Surge in the popularity of recreational fishing

The increasing interest in recreational fishing has been a major driver for the market for fishing reels. As more individuals seek outdoor activities and hobbies, fishing has emerged as a popular choice. The tranquility and relaxation associated with fishing, coupled with the thrill of reeling in a catch, attract people of all ages and backgrounds. As a result, the growing population of fishing enthusiasts fuels the product demand, as they are essential tools for casting and retrieving fishing lines. Moreover, the rise of fishing tourism and the surging popularity of fishing events and competitions further contribute to the market growth, as anglers seek reliable and high-performance reels to enhance their fishing experience.

Technological advancements in fishing reel design

Continuous innovation in fishing reel technology has propelled the market growth. Manufacturers constantly strive to improve the performance, functionality, and durability of fishing reels. There is a surge in technological advancements, such as the use of lightweight materials like carbon fiber and aluminum alloys, precision-engineered gear systems for smoother operation, advanced drag systems for precise line control, and ergonomic designs for user comfort. Such innovations cater to the evolving needs of anglers, offering enhanced efficiency and performance on the water. Anglers are increasingly seeking reels that provide improved casting distance, drag adjustability, line retrieval speed, and resistance to corrosion. This, coupled with the integration of advanced technologies and materials that has improved the overall fishing experience and enhanced the lifespan and reliability of fishing reels, is augmenting the market growth.

Increase in focus on sustainable and ethical fishing practices

There is a growing emphasis on sustainable and ethical fishing practices, driven by environmental awareness and conservation efforts. Anglers are now more conscious of the impact their activities can have on fish populations and ecosystems. This has led to a higher demand for fishing reels that support sustainable fishing practices, such as catch-and-release techniques. Manufacturers are responding by developing reels with adjustable drag settings, smooth retrieval systems, and durable construction that minimizes harm to fish during the catch-and-release process. Additionally, the increasing use of eco-friendly materials and production processes aligns with the values of environmentally conscious anglers. Therefore, the rising emphasis on sustainability not only drives the development of reels that are more environmentally friendly but also fosters a positive image for manufacturers who prioritize ethical fishing practices, supporting the market growth.

Fishing Reels Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global fishing reels market report, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on product type, material, fishing type, and distribution channel.

Breakup by Product Type:

• Spinning
• Spincast
• Fly Reel
• Baitcasting
• Others
   

Spinning represent the most popular product type

The report has provided a detailed breakup and analysis of the market based on the product type. This includes spinning, spincast, flyreel, baitcasting, and others. According to the report, spinning represented the largest segment.

Spinning is a type of fishing reel with a fixed spool that allows the fishing line to be released smoothly during casting and retrieved using a bail system, commonly used for versatile freshwater and saltwater fishing. Spincast is a user-friendly fishing reel with a closed-face design and a button-operated release system that simplifies casting, suitable for beginners and casual anglers.

Fly is specifically designed for fly fishing, a fly reel features a large arbor spool and a drag system to manage the tension of the fly line, enabling precise control during casting and reeling in fish. On the other hand, baitcasting is a casting reel with a revolving spool and a trigger-like mechanism that requires manual thumb control to prevent backlash, commonly used for targeting larger fish species and precision casting.

Breakup by Material:

• Aluminum
• Graphite
• Stainless Steel
• Others
   

A detailed breakup and analysis of the market based on the material has also been provided in the report. This includes aluminum, graphite, stainless steel, and others.

Aluminum is a lightweight and corrosion-resistant material commonly used in fishing reel construction. It offers excellent durability and strength while keeping the weight of the reel relatively low. Graphite, also known as carbon fiber, is a lightweight and strong material widely used in fishing reel manufacturing. Graphite reels offer exceptional sensitivity, allowing anglers to detect subtle bites and movements underwater.

Stainless steel is a robust and corrosion-resistant material used in various components of fishing reels, such as bearings, gears, and handle shafts. It provides excellent durability, ensuring the reel's longevity and ability to withstand the harsh conditions encountered during fishing. Stainless steel components contribute to the smooth operation and reliability of the reel, as they resist rust and corrosion caused by exposure to water and environmental elements.

Breakup by Fishing Type:

• Saltwater
• Freshwater
   

Freshwater holds the largest share in the market

A detailed breakup and analysis of the market based on the fishing type has also been provided in the report. This includes saltwater and freshwater. According to the report, freshwater accounted for the largest market share.

Saltwater fishing refers to angling activities conducted in marine or oceanic environments. It involves targeting fish species that inhabit saltwater bodies, such as oceans, seas, and saltwater estuaries. Saltwater fishing often requires specialized equipment and tackle due to the corrosive nature of saltwater and the size and strength of saltwater species.

Freshwater fishing refers to angling activities conducted in non-saline water bodies, such as lakes, rivers, ponds, and streams. It involves targeting fish species that primarily inhabit freshwater environments. Freshwater fishing encompasses a wide range of techniques, including casting, trolling, and fly fishing. Anglers typically use different tackle and equipment suited for the specific freshwater conditions and species they are targeting.

Breakup by Distribution Channel:

• Modern Trade
• Outdoor Sport Stores
• Online Sales
• Others
   

Outdoor sport stores dominate the market

A detailed breakup and analysis of the market based on the distribution channel has also been provided in the report. This includes modern trade, outdoor sport stores, online sales and others. According to the report, outdoor sport stores accounted for the largest market share.

Modern trade refers to the distribution channel that involves large-scale retail outlets such as supermarkets, hypermarkets, and department stores. These establishments offer a wide range of products, including fishing reels, and provide a convenient one-stop shopping experience for consumers. Outdoor sport stores are retail establishments specializing in equipment and gear for outdoor activities, including fishing. These stores cater to the needs of outdoor enthusiasts, offering a variety of reels for fishing and related accessories, along with expert advice and personalized customer service.

Online sales refer to the distribution of fishing reels through e-commerce platforms and websites. This channel allows consumers to conveniently browse and purchase fishing reels from the comfort of their homes.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America exhibits a clear dominance in the market

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market.

North America represents one of the largest regions for the fishing reel market with its vast population of fishing enthusiasts, the presence of key fishing tackle manufacturers, and the popularity of recreational fishing.

Europe is also a major region in the fishing reel market owing to its strong fishing culture, demand for high-quality fishing equipment, and the presence of well-established fishing reel manufacturers.

Asia Pacific is also expected to witness significant growth due to its vast coastal regions, expanding fishing industry, and the growing popularity of recreational and sport fishing. Latin America drives the fishing reel market with its rich marine biodiversity, increasing interest in recreational fishing, and the development of tourism focused on fishing activities. The Middle East and Africa drive the fishing reel market through the presence of coastal areas, a growing fishing tourism sector, and the product demand for both traditional and recreational fishing activities.

Competitive Landscape:

The market is experiencing a lower-than-anticipated demand compared to pre-pandemic levels however, this is likely to witness a paradigm shift over the next decade with the integration of advanced materials, such as carbon fiber and high-strength alloys, in reel construction. These materials offer increased strength, durability, and lightweight properties, enhancing performance and reducing fatigue for anglers. Moreover, key players are incorporating advanced drag systems, utilizing technologies such as carbon fiber discs or magnetic braking systems, which in turn is driving the market toward growth. These innovative drag systems provide smoother and more precise control over the line tension, enabling anglers to handle larger fish with ease. The market is witnessing a steady rise of digital technology, which has led to the introduction of smart fishing reels equipped with features including built-in fish finders, GPS, and wireless connectivity for data tracking and sharing. We also expect the market to witness new entrants, product launches, consolidation of portfolios, and increased collaborations to drive healthy competition within the domain.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• BCF Australia
• BPS Direct LLC.
• Globeride Inc.
• Kastking
• Okuma Fishing Tackle Co. Ltd.
• Piscifun
• Pure Fishing Inc.
• Shimano Inc.
• Tackle World
• The Orvis Company Inc
• Tica Fishing Tackle
• Zebco (Rather Outdoors Corporation)

Fishing Reels Market Report Scope:

Key Questions Answered in This Report:

• How has the global fishing reels market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global fishing reels market?
• What is the impact of each driver, restraint, and opportunity on the global fishing reels market?
• What are the key regional markets?
• Which countries represent the most attractive fishing reels market?
• What is the breakup of the market based on the product type?
• Which is the most attractive product type in the fishing reels market?
• What is the breakup of the market based on the material?
• Which is the most attractive material in the fishing reels market?
• What is the breakup of the market based on the fishing type?
• Which is the most attractive fishing type in the fishing reels market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the fishing reels market?
• What is the competitive structure of the global fishing reels market?
• Who are the key players/companies in the global fishing reels market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the fishing reels market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global fishing reels market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the fishing reels industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.