The global fishing reels market size was valued at USD 1.1 billion in 2022 and is projected to expand at a CAGR of 5.2% from 2023 to 2030. The increasing trend of recreational fishing and the growing use of fishing reels as a hobby are major factors driving the growth of the market. The growing demand for angling and the increasing popularity of fishing tournaments across the world are fueling the demand for fishing reels. Additionally, advancements in technology have resulted in the development of highly efficient and lightweight fishing reels, which are in high demand among recreational fishers. For instance, in December 2021, Daiwa launched a new range of fishing reels branded as Daiwa Sweepfire, which is designed to provide a lightweight experience.

Moreover, an increase in fishing tourism is expected to drive the market growth. According to the World Tourism Organization (UNWTO), the number of international tourists engaged in fishing increased by 4.5% in 2019 compared to 2018. Furthermore, the growing disposable income in developing countries is prompting people to invest in leisure activities such as fishing, which is further driving the demand for fishing reels.

Aside from that, the increasing demand for advanced fishing reels from commercial fishers is expected to propel the market growth. The increasing demand for fish has led to a significant rise in commercial fishing, which has led to the demand for advanced and highly efficient fishing reels. For instance, in October 2021, Abu Garcia launched its new line of fishing reels, Revo, for commercial fishing. The Revo reels are equipped with advanced features such as improved gear ratios, increased line capacity, and improved drag force, which makes them ideal for commercial fishing.

Furthermore, the rising trend of angling is a major factor driving the market growth. The growing popularity of angling tournaments and the increasing demand for angling equipment are major factors driving the growth of the market. Additionally, the increasing demand for online fishing reels is expected to further support the market growth. Online platforms offer a wide variety of fishing reels at competitive prices and provide discounts and special offers, which is propelling the online sales of fishing reels.

The spinning reel segment is expected to account for the largest market share in 2022. The rising popularity of sport fishing coupled with increasing awareness of the sport has led to a surge in the demand for spinning reels globally. According to a 2020 report by the National Marine Manufacturers Association, saltwater fishing is a $6.2 billion industry in the US. In addition, various technological advancements in the fishing reel industry, such as the introduction of new materials for construction, are propelling the demand for spinning reels.

The baitcasting reel segment is expected to expand at the fastest CAGR of 8.2% over the forecast period. This can be attributed to the increasing number of fishing tournaments and anglers, rising adoption of advanced technologies, such as low profile baitcasting reels, and the increasing popularity of baitcasting reels among professional anglers. According to a 2019 report by the International Game Fish Association (IGFA), the number of fishing tournaments has increased significantly over the past few years. In addition, the increasing popularity of baitcasting reels among amateur anglers is also contributing to the growth of the segment.

The specialty stores segment captured the major share of over 35.2% in 2022. Specialty stores offer a wide range of fishing reels to target customers. These stores are equipped with experienced sales personnel who guide customers and help them in selecting the best fishing reel based on their needs. Such stores also provide customers with an opportunity to compare the features and prices of different fishing reels and make an informed purchase decision. In addition, the presence of these stores in close proximity to the customers has also driven the growth of the segment.

The online segment is anticipated to expand at the highest CAGR of 13.5% over the forecast period. Growing internet penetration and increasing online shopping have led to the rising demand for fishing reels online. Online stores offer a wide range of fishing reels ranging from low-end to high-end products. In addition, customers can compare the features and prices of different fishing reels and make an informed purchase decision. They can also avail lucrative discounts, offers, and free shipping benefits that are not available in physical stores.

The spinning reels segment accounted for the largest revenue share of 56.3% in the year 2022. The growing popularity of recreational fishing activities among people of all ages has driven the demand for spinning reels. Furthermore, the increasing availability of spinning reels in different sizes and components has made them a preferred choice for many anglers. For instance, the Shimano Spinning Reel is available in six sizes, ranging from a 1000 size to a 10000 size, and comes with several components such as graphite frame, aluminum spool, and a one-piece bail wire.

The casting reels segment is expected to expand at the highest CAGR of 9.7% over the forecast period. The increasing demand for casting reels in the wake of the popularity of competitive fishing events and tournaments is the key factor driving the segment growth. Furthermore, the availability of advanced casting reels with features such as magnetic brakes, anti-reverse, and multi-disc drag systems has encouraged more anglers to opt for the product. Additionally, the increasing availability of innovative and lightweight casting reels is also contributing to the segment growth. For instance, Abu Garcia, a brand of Pure Fishing, Inc. manufactures a range of casting reels such as Ambassadeur Pro Max, Ambassadeur Beast, and Ambassadeur C4 Round.

Europe accounted for the largest revenue share of over 35.7% in 2022. Increasing recreational activities, such as angling and fishing, is a key factor driving the growth of the market in the region. Europe is home to a large number of angling clubs and associations, which promote freshwater and sea fishing. For instance, the European Anglers Alliance is a non-governmental organization that works to protect the rights of recreational anglers in the region. Moreover, increasing demand for technologically advanced fishing reels, such as electric and manual reels, is further expected to accelerate the growth of the market.

North America is expected to witness the second-fastest growth in the coming years. This is attributed to the presence of prominent players, such as Abu Garcia, Penn, and Shimano, in the region. Furthermore, increasing participation in recreational activities, such as angling and fishing, is further expected to drive the growth of the market. For instance, in April 2022, the National Fishing and Boating Week was celebrated in the U.S., where people participated in various fishing and recreational activities.

In this part of the [Fishing Reels] products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for the [Fishing Reels] products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a [Fishing Reels] products business comes from the sale of fishing reels and related products, such as fishing lures, line, hooks, and other tackle. Here you will find a list with a description of each of them and other possible sources of profit such as online sales, wholesaling, and retailing.

Projecting Expenses
In this section, all the regular expenses related to keeping the [Fishing Reels] products business running will be described. The list of operating expenses includes raw materials, wages, inventory, utilities, advertising, and others.

Some of the key companies operating in the fishing reels market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In August 2022, Shimano Inc. launched the new Exsence DC fishing reel, designed to provide smooth and effortless casting.

– In June 2022, Abu Garcia launched the new Revo Toro Beast fishing reel, a heavy-duty reel designed to provide superior performance while fishing in harsh conditions.

– In October 2022, Penn launched the Slammer III fishing reel, designed to provide a smooth and powerful drag system.

Some of the prominent players in the fishing reels market include:

– Shimano Inc.
– Zebco Brands LLC
– Quantum Fishing
– Abu Garcia
– Daiwa Corporation
– Pflueger
– Penn Fishing
– Okuma Fishing Tackle Co., Ltd.
– Mitchell
– 13 Fishing LLC

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global fishing reel products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Spinning Reels
– Baitcasting Reels
– Fly Reels
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Mass
– Premium

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What types of fishing reels are available in the market?
[A]: There are many different types of fishing reels available in the market, including spinning, baitcasting, fly, and trolling reels. Spinning reels are the most common type of fishing reels, and they are designed to be used with lightweight spinning rods. Baitcasting reels are designed for heavier bait and lures, and they are used with baitcasting rods. Fly reels are designed specifically for fly fishing, and they are used with fly rods. Trolling reels are designed for trolling, and they are used with trolling rods.

[Q]: What are the key players in the Fishing Reels Market?
[A]: Major players operating in the global fishing reels market includes Shimano, Daiwa Corporation, Okuma Corporation, Zebco, Abu Garcia, Mitchell Fishing, Quantum Fishing, and PENN Fishing Tackle Manufacturing.

[Q]: What are the factors driving the fishing reels market?
[A]: Factors such as the increasing popularity of recreational fishing, rising disposable incomes, and the increasing demand for technologically advanced products are driving the growth of the fishing reels market. Furthermore, the rising popularity of online retailing is also expected to drive the demand for fishing reels.

[Q]: What are the key trends in the fishing reels market?
[A]: One of the key trends in the fishing reels market is the increasing demand for technologically advanced products. Companies are investing heavily in research and development to develop new and innovative fishing reels. Additionally, manufacturers are introducing new features, such as automatic casting systems, to increase the convenience and efficiency of fishing reels.