Fishing Reels Market is Expected to Reach US$ 9,528.7 Million, Registering a CAGR of 4.9% during Forecast 2023 to 2033 | Future Market Insights, Inc.

NEWARK, DE / ACCESSWIRE / June 12, 2023 / As per the latest data released by Future Market Insights (FMI), the fishing reels market is predicted to be valued at US$ 5,894.3 million in 2023 and US$ 9,528.7 million by 2033. Over the projection period, sales in the fishing reels market are expected to increase at a CAGR of 4.9%. A prominent opportunity lies in the integration of smart technology into fishing reels.

With the rise of IoT devices and connectivity, there is room for innovation in reel design, such as incorporating sensors for real-time data on water conditions, fish behavior, and reel performance. This data can be utilized to enhance fishing techniques, improve catch rates, and provide anglers with valuable insights.

An emerging trend is the focus on sustainability. Anglers are increasingly conscious of environmental impact, leading to a demand for eco-friendly reel materials, efficient gear systems that reduce friction and energy consumption, and recycling programs for old or damaged reels.

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Companies that prioritize sustainability will gain a competitive edge and cater to the growing market segment of environmentally conscious anglers. Customization and personalization are gaining traction in the fishing reels market. Anglers seek reels that can be tailored to their specific needs and preferences, including adjustable drag systems, interchangeable handles, and spool options. Manufacturers that offer customization options will attract a loyal customer base.

In terms of design, compact and lightweight reels are becoming more popular, especially for anglers who prioritize mobility and convenience. Advancements in materials, such as carbon fiber and magnesium alloys, allow for stronger and lighter reel construction without compromising durability. The advent of social media and online platforms has opened up new marketing and sales channels for fishing reel manufacturers. Influencer marketing, user-generated content and direct-to-consumer sales provide opportunities to reach a wider audience and engage with customers on a more personal level.

Key Takeaways from this Market:

• As per FMI, the United States is spearheading the growth across North America, accounting for nearly 22.8% of the market share in 2022.
• Sales of fishing reels are expected to surge at 6.6% CAGR across China in 2022.
• Germany is expected to account for 4.5% of the total market share in Europe.
• As per Future Market Insights, the spinning reel segment is expected to dominate the product type with a market share of 47.7%.
• As per FMI, the stainless steel segment is poised to expand at over 26.3% CAGR in 2022.

"The fishing reels market is being driven by technological advancements, innovative designs, and a focus on enhancing the user experience for anglers," - remarks an analyst at FMI.

How Key Players are Revolutionizing the Manufacturing of this Market?

Key players in the fishing reels market are revolutionizing the manufacturing process through innovative techniques and advanced technologies. They are investing in research and development to enhance product performance, durability, and user experience. Manufacturers are utilizing materials like carbon fiber, magnesium, and aluminum alloys to create lightweight yet robust reels.

Precision engineering, computer-aided design, and manufacturing techniques ensure smooth operation and increased casting distance. Integration of advanced features such as advanced drag systems, gear ratios, and ergonomic designs further enhance the functionality of fishing reels. Key players also focus on sustainability, incorporating eco-friendly materials and manufacturing processes. Overall, these advancements revolutionize the fishing reels market, offering anglers improved performance, durability, and a more enjoyable fishing experience.

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Key Players in the Market:

• SHIMANO INC.
• Daiwa Corporation
• Abu Garcia
• NingBo HaiBao fishing tackle co., Ltd.
• OKUMA FISHING TACKLE CO., LTD
• The Orvis Company, Inc.
• BPS Direct, L.L.C.
• Tackle World
• TICA FISHING TACKLE
• BCF Australia
• Pure Fishing, Inc. (Penn)

Product Portfolio:

• Shimano Inc. offers a comprehensive range of cycling components and accessories, including drivetrain systems, brakes, wheels, pedals, and apparel. Their product lineup caters to various cycling disciplines, from road and mountain biking to urban commuting and e-bikes, ensuring high performance and reliability.
• Daiwa Corporation specializes in fishing tackle and equipment. Their product portfolio includes fishing reels, rods, lines, lures, and accessories for both freshwater and saltwater fishing. With a focus on quality and innovation, Daiwa offers a diverse range of fishing gear to meet the needs of anglers at all skill levels.

More Insights Available:

Future Market Insights offers an unbiased analysis of the fishing reels market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the fishing reels market, the report is segmented on the basis of product type (spinning reel, baitcasting reel, spin-cast reel, fly reel and others (offshore, conventional, surf fishing, etc.), material type (stainless steel, aluminium, graphite and others (plastic, rubber, etc.), fishing type (freshwater fishing and saltwater fishing), by sales channel (direct sales, hypermarkets/ supermarkets, speciality stores, outdoor sports store, online retailers and other sales channel), across five major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

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Market Segmentation:

By Product Type:

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

By Material Type:

• Stainless Steel
• Aluminium
• Graphite
• Others

By Fishing Type:

• Freshwater Fishing
• Saltwater Fishing

By Sales Channel:

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

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

About the Consumer Product at Future Market Insights (FMI):

The consumer product team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

Table of Content (ToC):

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in Conservative Scenario

3.3. Opportunity Map Analysis

3.4. Product Life Cycle Analysis

3.5. Supply Chain Analysis

3.5.1. Supply Side Participants and Their Roles

3.5.1.1. Producers

3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)

3.5.1.3. Wholesalers and Distributors

3.5.2. Value Added and Value Created at Node in the Supply Chain

3.5.3. List of Raw Material Suppliers

3.5.4. List of Existing and Potential Buyers

3.6. Investment Feasibility Matrix

3.7. Value Chain Analysis

3.7.1. Profit Margin Analysis

3.7.2. Wholesalers and Distributors

3.7.3. Retailers

3.8. PESTLE and Porter's Analysis

3.9. Regulatory Landscape

3.9.1. By Key Regions

3.9.2. By Key Countries

3.10. Regional Parent Market Outlook

3.11. Production and Consumption Statistics

3.12. Import and Export Statistics

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022

4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033

4.2.1. Y-o-Y Growth Trend Analysis

4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type

Complete TOC: https://www.futuremarketinsights.com/toc/rep-gb-14113

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About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

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