Dublin, Feb. 14, 2022 (GLOBE NEWSWIRE) -- The "Global Fishing Reel Market, By Reel Type, By Reel Mechanism, By Price Range, By Sales Channel, By Application, Estimation & Forecast, 2017 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global fishing reel market held a market value of USD 3,786.16 million in 2020 and is estimated to reach USD 5,075.54 million by the year 2027. The market is anticipated to register a CAGR of 4.6% during the forecast period.
The rise in recreational activities, coupled with the increasing awareness about health benefits with the consumption of fish, significantly contributes to the growth of the fishing reel market. The favourable demographic trends in the developing regions, especially revolving around millennial population, pushes the demand for fishing reels all across the globe. For instance, China, India, the US, Indonesia, and Brazil possess the world's largest millennial populations. All these countries account for approximately half of the world's millennial population. Thus, such high statistics bolster the growth rate of the fishing reel market in the near future.
On the other hand, the depletion of sea species is projected to hamper the growth rate of the fishing reel market to a certain extent. Moreover, the rise in different types of rods, lures, and camera equipment for fishing further pushes the growth of the fishing reel market.
Growth Influencers:
Growing popularity of recreational activities, among millennials
Recreational activities have shown immense benefits to the participants across the globe. The millennial population is highly targeting activities, such as fishing, for leisure recreation. This demographic, in particular, is favouring the fishing activity to a large extent, in most developing and developed region. Thus, the high preference rate of this activity leads to an increase in the fishing reel market.
Rise in consumer awareness towards the health benefit of fish
Fish constitutes several health benefits, such as omega-3 fatty acids, coupled ith vitamins D and B2. Fish is also rich in phosphorus, calcium, and other minerals, including, iron, iodine, zinc, magnesium, and potassium, among others. The increase awareness created by many organizations aids in the rise in the fishing activities, and thus the usage of fishing reels. For instance, the American Heart Association acclaims eating fish at least two times each week as part of a healthy diet. Therefore, such steps increase the preference rate, and thus, the overall market growth.
Competitive Landscape
Key players operating in the global fishing reel market include Alvey Reels, Daiwa Corporation, Elec-Tra-Mate, Florida Fishing Products, Abu Garcia, Hooker 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 key four companies in the market hold approximately 70% of the market share. These market players are capitalizing on several strategic activities, such as product launches, mergers & acquisitions, collaborations, and ventures, to sustain in the industry. For instance, in July 2020, Abu Garcia launched one of the lightest spinning reels, Zenon. It is the lightest spinning reel ever produced, tipping the scales at an unbelievably light 4.9 ounces for the Size 20 and 5.4 ounces for the Size 30.
The global fishing reel market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Fishing reel market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
- Pricing Analysis: Pricing analysis of various metals and other components used in the manufacturing of fishing reels
- Manufacturing Cost Analysis: Cost-share of various components in fishing reels, cost analysis of fishing reel types, Cost Analysis of Spincast Reels and other reels, Unit Cost Analysis of fishing reel types
The global fishing reel market report answers questions such as:
- What is the market size and forecast of the global fishing reel market?
- What are the inhibiting factors and impact of COVID-19 on the global fishing reel market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the global fishing reel market?
- What is the competitive strategic window for opportunities in the global fishing reel market?
- What are the technology trends and regulatory frameworks in the global fishing reel market?
- What is the market share of the leading players in the global fishing reel market?
- What modes and strategic moves are considered favorable for entering the global fishing reel market?
Key Topics Covered:
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Global Fishing Reel Market
Chapter 4. Global Fishing Reel Market Overview
4.1. Industry Value Chain Analysis
4.1.1. Material Provider
4.1.2. Manufacturer
4.1.3. Distributor
4.1.4. End User
4.2. Industry Outlook
4.2.1. Fishing Equipment Market
4.2.2. Advance Fishing Reel Overview
4.3. PESTLE Analysis
4.4. Porter's Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of Substitutes
4.4.4. Threat of New Entrants
4.4.5. Degree of Competition
4.5. Market Dynamics and Trends
4.5.1. Growth Drivers
4.5.2. Restraints
4.5.3. Challenges
4.5.4. Key Trends
4.6. Covid-19 Impact Assessment on Market Growth Trend
4.7. Market Growth and Outlook
4.7.1. Market Revenue Estimates and Forecast (US$ Mn), 2017 - 2027
4.7.2. Pricing Analysis
4.8. Competition Dashboard
4.8.1. Market Concentration Rate
4.8.2. Company Market Share Analysis (Value %), 2020
4.8.3. Competitor Mapping
Chapter 5. Fishing Reel Market, By Reel Type
5.1. Key Insights
5.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
5.2.1. Spincast Reels
5.2.2. Spinning Reels
5.2.3. Baitcast Reels
5.2.3.1. Round Baitcasting Reel
5.2.3.2. Low-Profile Baitcasting Reel
5.2.4. Electric Reel
5.2.5. Fly fishing Reel
5.2.6. Offshore Reels
5.2.7. Others
Chapter 6. Fishing Reel Market, By Reel Mechanism
6.1. Key Insights
6.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
6.2.1. Direct-drive reel
6.2.2. Anti-reverse reel
Chapter 7. Fishing Reel Market, By Price Range
7.1. Key Insights
7.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
7.2.1. < US$ 100
7.2.2. US$ 100 - 500
7.2.3. US$ 500 - 1,500
7.2.4. > US$ 1,500
Chapter 8. Fishing Reel Market, By Sales Channel
8.1. Key Insights
8.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
8.2.1. Offline
8.2.1.1. Sports Stores
8.2.1.2. Departmental Stores
8.2.2. Online
8.2.2.1. E-commerce websites
Chapter 9. Fishing Reel Market, By Application
9.1. Key Insights
9.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
9.2.1. Freshwater Fishing
9.2.2. Saltwater Fishing
Chapter 10. Fishing Reel 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. The U.S. Fishing Reels Market Analysis
Chapter 17. Japan Fishing Reels Market Analysis
Chapter 18. Company Profile (Company Overview, Financial Matrix, Sales Composition Ration, 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
18.4. Elec-Tra-Mate
18.5. Florida Fishing Products
18.6. Hooker Electric, Inc.
18.7. Mitchell Reel Co.
18.8. Penn Reels
18.9. Pflueger
18.10. Scientific Anglers
18.11. Shimano
18.12. Shakespeare Fishing Tackle
18.13. Zebco
18.14. Pokee 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/32rooc
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