The Business Research Company’s Fishing Reels Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Fishing Reels Global Market Report 2023 evaluates fishing reels market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global fishing reels market is expected to grow from $5.08 billion in 2022 to $5.4 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The fishing reels market is expected to reach $6.63 billion in 2027 at a CAGR of 5.2%.
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. For instance, in July 2020, according to the Organization for Economic Cooperation and Development (OECD), a US-based intergovernmental organization, 90% of fish production is anticipated to be used as food by 2029. Fish for human consumption is expected to increase by 16.3%, or an additional 25 metric tons, to 180 metric tons by 2029. Therefore, increasing fish consumption is driving the growth of the fishing reel market.
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The fishing reels market segments in the report are:
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
The table of contents in TBRC’s fishing reels market report includes:
5.1. Global Fishing Reels Market Drivers and Restraints
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