DUBLIN, February 10, 2022 /PRNewswire/ — The report “Global Fishing Reels Market, By Reel Type, By Reel Mechanism, By Price Range, By Sales Channel, By Application, Estimate & Forecast, 2017-2027″ has been added to from ResearchAndMarkets.com offer.
The global fishing reel market held a market value of $3,786.16 million in 2020 and is expected to reach $5,075.54 million by 2027. The market is expected to register a CAGR of 4.6% during the forecast period.
The increase in recreational activities coupled with the rising awareness about the health benefits of fish consumption is contributing significantly to the growth of the fishing reel market. Favorable demographic trends in developing regions, especially around the millennial population, are pushing the demand for fishing reels worldwide. For example, China, IndiaUnited States, Indonesiaand Brazil have the largest millennial populations in the world. All of these countries represent about half of the world’s millennial population. Thus, such high statistics bolster the growth rate of the fishing reels market in the near future.
On the other hand, the depletion of marine species is expected to hamper the growth rate of the fishing reel market to some extent. Additionally, the increase in different types of rods, lures, and photographic equipment for fishing is further pushing the growth of the fishing reels market.
Growing popularity of recreational activities, among millennials
Recreational activities have shown immense benefits to participants around the world. The millennial population heavily targets activities, such as fishing, for recreation. This demographic, in particular, favors fishing activity to a large extent in most developing and developed regions. Thus, the high preference rate of this activity leads to an increase in the market for fishing reels.
Increased consumer awareness of the health benefits of fish
Fish has several health benefits, such as omega-3 fatty acids, coupled with vitamins D and B2. Fish is also rich in phosphorus, calcium, and other minerals, including iron, iodine, zinc, magnesium, and potassium, among others. The increased awareness created by many organizations is contributing to the increase in fishing activities, and hence the use of fishing reels. For example, the American Heart Association welcomes eating fish at least twice a week as part of a healthy diet. Hence, such measures increase the preference rate and hence the overall market growth.
Key players operating in the global fishing reels market include Alvey ReelsDaiwa Corporation, Elec-Tra-Mate, Florida Fish Products, Abu GarciaHooker Electric, Inc., Mitchell Reel Co., Penn Reels, Scientific Anglers, Shimano, Shakespeare Fishing Tackle, Zebco, Pokee Fishing, Pflueger, Cabela’s Inc., AFTCO Mfg., Eagle Claw, among others.
The four main companies in the market hold around 70% of the market share. These market players are capitalizing on several strategic activities, such as product launches, mergers and acquisitions, collaborations and joint ventures, to sustain themselves in the industry. For example, in July 2020, Abu Garcia launched one of the lightest reels, Zenon. It’s the lightest spinning reel ever produced, tipping the scales at an incredibly light weight of 4.9 ounces for the size 20 and 5.4 ounces for the size 30.
The Global Fishing Reels Market report provides information about the pointers below:
- Market Penetration: Provides comprehensive market insights offered by major players
- Market Development: The report offers detailed information on lucrative emerging markets and analyzes penetration in mature segments of the markets.
- Market Diversification: Provides detailed information on untapped geographies, recent developments and investments
- Competitive Landscape Assessment: Mergers and acquisitions, certifications, product launches in the global fishing reels market have been provided in this research report. In addition, the report also emphasizes on the SWOT analysis of key players.
- Product Development and Innovation: The report provides smart insights into future technologies, R&D activities and breakthrough product developments
- Price Analysis: Price analysis of various metals and other components used in the manufacture of fishing reels
- Manufacturing Cost Analysis: Cost Sharing of Various Components in Fishing Reels, Cost Analysis of Types of Fishing Reels, Cost Analysis of Spincast Reels and Other Reels, Unit Cost Analysis of Types of Fishing Reels
The global fishing reels market report answers questions like:
- What is the market size and forecast of the global fishing reels market?
- What are the inhibiting factors and impact of COVID-19 on the Global Fishing Reels Market during the assessment period?
- What are the products/segments/applications/areas to invest in during the assessment period in the Global Fishing Reels Market?
- What is the competitive strategic window for opportunities in the Global Fishing Reels Market?
- What are the technology trends and regulatory frameworks in the global fishing reels market?
- What is the market share of the major players in the global fishing reels market?
- What modes and strategic moves are considered favorable for entering the global fishing reels market?
Main topics covered:
Chapter 1. Research framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Global Fishing Reels Market
Chapter 4. Global Fishing Reels Market Overview
4.1. Industry Value Chain Analysis
4.1.1. hardware supplier
4.1.4. Final user
4.2. Industry Outlook
4.2.1. fishing equipment market
4.2.2. Introducing the Advance Fishing Reel
4.3. PESTLE analysis
4.4. Porter’s Five Forces Analysis
4.4.1. Bargaining power of suppliers
4.4.2. The bargaining power of buyers
4.4.3. The threat of substitutes
4.4.4. The threat of new entrants
4.4.5. degree of competition
4.5. Market dynamics and trends
4.5.1. Growth engines
4.5.4. Key trends
4.6. Assessment of the impact of Covid-19 on the growth trend of the market
4.7. Market Growth and Prospects
4.7.1. Market Revenue Estimates & Forecasts (USD Million), 2017 – 2027
4.7.2. Price analysis
4.8. Contest Dashboard
4.8.1. Market concentration rate
4.8.2. Company Market Share Analysis (Value%), 2020
4.8.3. Competitor mapping
Chapter 5. Fishing Reels Market, By Reel Type
5.1. key ideas
5.2. Market Size and Forecast, 2017-2027 (Million USD)
5.2.1. Spincast Reels
5.2.2. Spinning Reels
5.2.3. Baitcast Reels
126.96.36.199. Round Baitcasting Reel
188.8.131.52. Low Profile Baitcasting Reel
5.2.4. Electrical coil
5.2.5. fly fishing reel
5.2.6. reels at sea
Chapter 6. Fishing Reels Market, By Reel Mechanism
6.1. key ideas
6.2. Market Size and Forecast, 2017-2027 (Million USD)
6.2.1. Direct drive reel
6.2.2. Anti-reverse reel
Chapter 7. Fishing Reels Market, By Price Range
7.1. key ideas
7.2. Market Size and Forecast, 2017-2027 (Million USD)
7.2.1. 7.2.2. $100 – 500
7.2.3. $500 – 1,500
7.2.4. > $1,500
Chapter 8. Fishing Reels Market, By Sales Channel
8.1. key ideas
8.2. Market Size and Forecast, 2017-2027 (Million USD)
184.108.40.206. Sports shops
220.127.116.11. Departmental stores
8.2.2. In line
18.104.22.168. E-commerce sites
Chapter 9. Fishing Reels Market, By Application
9.1. key ideas
9.2. Market Size and Forecast, 2017-2027 (Million USD)
9.2.1. Freshwater fishing
9.2.2. Saltwater fishing
Chapter 10. Fishing Reels Market, By Region
Chapter 11. North America Fishing Reels Market Analysis
Chapter 12. Europe Fishing Reels Market Analysis
Chapter 13. Asia-Pacific Fishing Reels Market Analysis
Chapter 14. Oceania Fishing Reels Market Analysis
Chapter 15. Rest of the World Fishing Reels Market Analysis
Chapter 16. US Fishing Reels Market Analysis
Chapter 17. Japan Fishing Reels Market Analysis
Chapter 18. Company Profile (Company Overview, Financial Matrix, Sales Composition Ratio, Key Product Landscape, Key Personnel, Key Competitors, Contact Address and Business Strategy Outlook)
18.1. Abu Garcia
18.2. Alvey Reels
18.3. Daiwa Corporation
18.5. Florida Fish Products
18.6. Hooker Electric, Inc.
18.7. Mitchell Reel Co.
18.8. Penn Coils
18.10. Scientific fishermen
18.12. Shakespeare fishing tackle
18.14. poke fishing
18.15. Cabela’s Inc.
18.16. AFTCO Mfg.
18.17. eagle claw
For more information about this report visit https://www.researchandmarkets.com/r/k1di80
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