Product Code: 36249
Fishing Reels Market Size And Forecast
Fishing Reels Market size was valued at USD 5.62 Billion in 2024 and is projected to reach USD 7.52 Billion by 2032, growing at a CAGR of 4.10% from 2026 to 2032.
- Fishing reels are essentially mechanical devices designed to efficiently spool and retrieve fishing lines, making them indispensable tools for anglers. Their primary function is to control the release and retrieval of the fishing line, allowing precise management of line tension, as well as bait or lure movement. This control is crucial in improving casting accuracy and ensuring successful fishing experiences.
- Fishing reels are broadly classified into three main types: spinning reels, baitcasting reels, and spin cast reels. Spinning reels are user-friendly and ideal for beginners, offering versatility for different fishing conditions.
- Baitcasting reels provide greater accuracy and control, preferred by more experienced anglers for targeting larger fish species. Spincast reels are a hybrid of the two, designed for ease of use with a closed-face design that reduces line tangling, making them suitable for casual or novice fishermen.
- These reels are widely used in both recreational and commercial fishing activities, supporting a variety of fishing styles and preferences. Whether casting in freshwater or saltwater, fishing reels play a pivotal role in enhancing the fishing experience by offering better control, performance, and precision, making them a key component of any angler's gear.
Global Fishing Reels Market Dynamics
The key market dynamics that are shaping the global fishing reels market include:
Key Market Drivers
- The Increasing Popularity of Recreational Fishing: The growing interest in recreational fishing activities among people of all ages worldwide serves as a main driver. This trend is attributed to the relaxing and stress-relieving effects of fishing, contributing to the market's growth. According to a report by the Recreational Boating & Fishing Foundation, in 2023, approximately 52.4 million Americans participated in fishing, with a 4% increase in participation compared to the previous year.
- Rising Disposable Income in Emerging Markets: Growing disposable income in developing countries has led to increased spending on leisure activities like fishing, driving demand for fishing reels. The World Bank reported that the gross national income per capita in India increased from $1,960 in 2015 to $2,170 in 2023, indicating a rise in purchasing power that could contribute to growth in the fishing equipment market.
- Technological Advancements in Fishing Reel Design: Innovations in fishing reel technology, such as improved drag systems, lightweight materials, and enhanced durability, are driving market growth. The National Marine Manufacturers Association stated that in 2023, the sales of fishing equipment, including reels, increased by 3% compared to the previous year, reaching USD 9.8 Billion in the United States alone.
Key Challenges
- Counterfeit Fishing Gear: The growth of counterfeit fishing gear on the market is a considerable challenge. These low-quality imitations harm brand reputation, cause customer dissatisfaction, and reduce overall sales for legitimate fishing reel producers. According to a report by the Organisation for Economic Co-operation and Development (OECD), the global trade in counterfeit goods, including sporting goods like fishing equipment, reached USD 509 Billion in 2022, representing 2.5% of world trade.
- Environmental Concerns and Fishing Regulations: Increasing environmental awareness and stricter fishing regulations in many countries limit fishing activities, potentially restraining the demand for fishing reels. The National Oceanic and Atmospheric Administration (NOAA) reported that in 2023, there were 47 overfished stocks in U.S. waters, leading to tighter regulations and reduced fishing opportunities in certain areas, which could impact the fishing gear market.
- Economic Fluctuations and Discretionary Spending: Economic downturns significantly affect the fishing reels market as fishing equipment is often considered a discretionary purchase. The U.S. Bureau of Economic Analysis reported that personal consumption expenditures on recreational goods and vehicles, which include fishing equipment, decreased by 2.1% in the fourth quarter of 2023 compared to the previous quarter, reflecting the impact of economic uncertainty on consumer spending in this sector.
Key Trends
- Sustainability Focus: The increasing focus on sustainability, with producers manufacturing eco-friendly reels built from recycled materials or designed for higher energy efficiency. This trend is being pushed by consumer desire for items with less environmental impact. According to a survey by the Outdoor Industry Association, 79% of outdoor enthusiasts, including anglers, considered sustainability important when making purchasing decisions in 2023, up from 72% in 2021.
- Smart Fishing Reels and Digitalization: The integration of technology into fishing reels, such as digital displays, Bluetooth connectivity, and performance tracking features, is becoming increasingly popular. A report by the Recreational Boating & Fishing Foundation found that in 2023, 38% of anglers used some form of fishing app or digital technology during their trips, a 15% increase from 2021, indicating a growing market for smart fishing gear.
- Direct-To-Consumer (DTC) Sales Channels: Fishing reel manufacturers are increasingly adopting direct-to-consumer sales strategies, bypassing traditional retail channels. The U.S. Census Bureau reported that e-commerce sales for sporting goods, hobby, and musical instrument stores increased by 11.2% in 2023 compared to the previous year, reaching USD 28.7 Billion, suggesting a shift towards online and direct sales in the fishing equipment market.
Global Fishing Reels Market Regional Analysis
Here is a more detailed regional analysis of the global fishing reels market:
North America
- North America substantially dominates in the global fishing reels market driven by the increasing demand for recreational fishing.
- The demand for fishing reels has been driven by the increasing popularity of recreational fishing in the area. According to the U.S. Fish and Wildlife Service's 2023 National Survey of Fishing, Hunting, and Wildlife-Associated Recreation, approximately 49.4 million Americans participated in fishing activities in 2022, a 3% increase from 2020.
- Higher disposable incomes in North America have led to increased spending on outdoor recreational activities, including fishing.
- The Bureau of Economic Analysis reported that in 2023, outdoor recreation accounted for 2.4% of U.S. GDP, or USD 559.5 Billion, with fishing and boating activities contributing USD 27.2 Billion to this total, a 4.2% increase from the previous year.
- The expansion of fishing tourism and charter fishing services in North America has boosted the demand for high-quality fishing equipment.
- A report by the National Marine Manufacturers Association stated that in 2023, the number of fishing charters and guided fishing trips in the U.S. increased by 6.5% compared to the previous year, with an estimated 1.8 million trips taken.
Asia Pacific
- Asia Pacific is anticipated to witness the fastest growth in the global fishing reels market during the forecast period owing to the increasing demand for sport fishing destinations.
- An average traveler favors the Asia Pacific because it is more affordable and has some of the world's most well-known fishing spots, including Toiman, Redand, Langkawi, Bali, and Phuket in the Andaman Sea and the South China Sea.
- According to the Pacific Asia Travel Association (PATA), tourism to fishing destinations in Southeast Asia increased by 8.5% in 2023 compared to the previous year, with an estimated 4.2 million tourists participating in fishing-related activities.
- The growing middle class and increasing disposable income in countries like China and India are driving demand for recreational activities such as fishing. The Asian Development Bank reported that the middle-class population in Asia-Pacific reached 2.1 billion in 2023, accounting for 54% of the region's total population.
- This represents a 7% increase from 2020, indicating a larger consumer base for fishing equipment, including reels.
- Several governments in the Asia-Pacific region have implemented initiatives to promote recreational fishing as a tourism activity and to support local economies.
- For instance, the Japan Fisheries Agency reported that the number of fishing licenses issued in Japan increased by 5.2% in 2023 compared to the previous year, reaching 8.7 million, following a national campaign to encourage fishing as a leisure activity.
Global Fishing Reels Market: Segmentation Analysis
The Global Fishing Reels Market is segmented based on Type, Reel Mechanism, Fishing Type, And Geography.
Fishing Reels Market, By Type
- Fly Fishing Reel
- Conventional Reel
- Spinning Reel
- Underspin Reel
- Baitcasting Reel
Based on Type, the Global Fishing Reel Market is bifurcated into Fly Fishing Reels, Conventional Reels, Spinning Reels, Underspin Reels, and Baitcasting Reels. The spinning reel segment dominates the global fishing reels market owing to its versatility and ease of use. Spinning reels are favored for various fishing techniques, including using artificial lures, live or dead bait, rigs, and ice fishing. Renowned for their durability, especially with light tackle, spinning reels offer anglers better control without the need to manage a heavier spool.
Fishing Reels Market, By Reel Mechanism
- Direct Drive
- Anti-Reverse
Based on the Reel Mechanism, the Global Fishing Reel Market is bifurcated into Direct Drive and Anti-Reverse. The direct-drive segment dominates the global fishing reel market owing to its high level of control and sensitivity. With the handle directly attached to the spool, these reels allow anglers to detect subtle fish movements and manually regulate the spool with precision. Popular in fly fishing, direct-drive reels are favored for their simplicity and reliability, having fewer moving parts and a lower risk of mechanical failure.
Fishing Reels Market, By Fishing Type
- Freshwater Fishing
- Saltwater Fishing
Based on the Fishing Type, the Global Fishing Reel Market is bifurcated into Freshwater Fishing and Saltwater Fishing. The freshwater fishing segment dominates the global fishing reels market owing to the widespread availability of freshwater bodies like lakes, rivers, and streams across multiple continents. Freshwater fishing attracts both novice and experienced anglers due to its diverse species, lower entry costs, and simpler gear requirements compared to saltwater fishing. The growing number of freshwater anglers boosts demand for reels tailored to freshwater conditions, contributing to the segment's larger market share.
Fishing Reels Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
Based on Geography, the Global Fishing Reels Market is classified into North America, Europe, Asia Pacific, and the Rest of the World. North America substantially dominates in the global fishing reels market as the demand for recreational fishing is projected to increase over time. The demand for fishing reels has been driven by the increasing popularity of recreational fishing in the area. According to the U.S. Fish and Wildlife Service's 2023 National Survey of Fishing, Hunting, and Wildlife-Associated Recreation, approximately 49.4 million Americans participated in fishing activities in 2022, a 3% increase from 2020.
Key Players
The "Global Fishing Reels Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are Shimano, Inc., Daiwa Corporation, Pure Fishing, Okuma Fishing Tackle Co., Abu Garcia, Lew's Fishing, 13 Fishing, Tica Fishing Tackle, KastKing, Pflueger, Zebco, Penn Fishing Tackle Manufacturing Co., The Orvis Company, LL Bean, BCF Australia, Jarvis Walker Pty, Maver UK Ltd., Piscifun, and BPS Direct LLC.
- This section offers in-depth analysis through a company overview, position analysis, the regional and industrial footprint of the company, and the ACE matrix for insightful competitive analysis. The section also provides an exhaustive analysis of the financial performances of mentioned players in the given market.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Global Fishing Reels Market Key Developments
- In March 2023, DAIWA announced the launch of the TATULA MQ LT Spinning Reel. The wonderfully constructed Tatula MQ LT. The new Tatula MQ LT's one-piece MONOCOQUE ZAION Vbody is only the beginning of the vehicle's many advances. The design structure makes more room for larger gears, immediately increasing torque and power.
- In December 2022: Gowings Bros Ltd announced the launch of Alvey Reels Australia, an Australian tackle company, and will continue operations as usual.
TABLE OF CONTENTS
1 INTRODUCTION OF GLOBAL FISHING REELS MARKET
- 1.1 Introduction of the Market
- 1.2 Scope of Report
- 1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
- 3.1 Data Mining
- 3.2 Validation
- 3.3 Primary Interviews
- 3.4 List of Data Sources
4 GLOBAL FISHING REELS MARKET OUTLOOK
- 4.1 Overview
- 4.2 Market Dynamics
- 4.2.1 Drivers
- 4.2.2 Restraints
- 4.2.3 Opportunities
- 4.3 Porters Five Force Model
- 4.4 Value Chain Analysis
5 GLOBAL FISHING REELS MARKET, BY TYPE
- 5.1 Overview
- 5.2 Fly Fishing Reel
- 5.3 Conventional Reel
- 5.4 Spinning (fixed-spool) Reel
- 5.5 Underspin Reel
- 5.6 Others
6 GLOBAL FISHING REELS MARKET, BY REEL MECHANISM
- 6.1 Overview
- 6.2 Direct-Drive
- 6.3 Anti-Reverse
7 GLOBAL FISHING REELS MARKET, BY FISHING
- 7.1 Overview
- 7.2 Freshwater Fishing Reel
- 7.3 Saltwater Fishing Reel
8 GLOBAL FISHING REELS MARKET, BY GEOGRAPHY
- 8.1 Overview
- 8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 U.K.
- 8.3.3 France
- 8.3.4 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 Japan
- 8.4.3 India
- 8.4.4 Rest of Asia Pacific
- 8.5 Rest of the World
- 8.5.1 Latin America
- 8.5.2 Middle East & Africa
9 GLOBAL FISHING REELS MARKET COMPETITIVE LANDSCAPE
- 9.1 Overview
- 9.2 Company Market Ranking
- 9.3 Key Development Strategies
10 COMPANY PROFILES
- 10.1 Shimano Inc.
- 10.1.1 Overview
- 10.1.2 Financial Performance
- 10.1.3 Product Outlook
- 10.1.4 Key Developments
- 10.2 Daiwa Corporation
- 10.2.1 Overview
- 10.2.2 Financial Performance
- 10.2.3 Product Outlook
- 10.2.4 Key Developments
- 10.3 Pure Fishing
- 10.3.1 Overview
- 10.3.2 Financial Performance
- 10.3.3 Product Outlook
- 10.3.4 Key Developments
- 10.4 Okuma Fishing Tackle Co.
- 10.4.1 Overview
- 10.4.2 Financial Performance
- 10.4.3 Product Outlook
- 10.4.4 Key Developments
- 10.5 Abu Garcia
- 10.5.1 Overview
- 10.5.2 Financial Performance
- 10.5.3 Product Outlook
- 10.5.4 Key Developments
- 10.6 Lew's Fishing
- 10.6.1 Overview
- 10.6.2 Financial Performance
- 10.6.3 Product Outlook
- 10.6.4 Key Developments
- 10.713 Fishing
- 10.7.1 Overview
- 10.7.2 Financial Performance
- 10.7.3 Product Outlook
- 10.7.4 Key Developments
- 10.8 Tica Fishing Tackle
- 10.8.1 Overview
- 10.8.2 Financial Performance
- 10.8.3 Product Outlook
- 10.8.4 Key Developments
- 10.9 KastKing
- 10.9.1 Overview
- 10.9.2 Financial Performance
- 10.9.3 Product Outlook
- 10.9.4 Key Developments
- 10.10 Pflueger
- 10.10.1 Overview
- 10.10.2 Financial Performance
- 10.10.3 Product Outlook
- 10.10.4 Key Developments
11 Appendix