Fishing Reels Market Size, Trends and Growth Analysis by 2027

The global fishing reels market is projected to expand from US$ 6,254.74 million in 2021 to US$ 8,958.36 million by 2028, reflecting a compound annual growth rate (CAGR) of 5.3% during the period from 2021 to 2028.

Several factors are contributing to the increasing demand for fishing reels. These include heightened awareness about various types of fishing reels, a growing number of anglers in emerging economies, and the rising interest in recreational fishing activities among consumers. These trends are expected to significantly boost market growth throughout the forecast period. Conversely, the prevalent preference for renting fishing equipment may hinder the demand for purchasing fishing reels, potentially restraining market expansion in the coming years.

The fishing reels market is categorized by type into several segments: spinning reels, baitcasting reels, spin-cast reels, and other reels. Among these, the spinning reel segment held the largest market share in 2020. Spinning reels are favored by anglers of all skill levels due to their effective open-faced design, which enhances usability. The growing popularity of spinning reels can be attributed to their user-friendly features, which solidify their dominance in the global fishing reels market and propel the segment's growth.

In terms of distribution channels, the fishing reels market is divided into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment is expected to experience substantial growth, as consumers increasingly gravitate towards these outlets. Specialty stores provide a diverse selection of high-quality products and designs, which attract more customers and support the segment's expansion during the forecast period.

Regionally, the fishing reels market in Europe is anticipated to witness the highest CAGR throughout the forecast period. Europe stands out as one of the largest markets for fishing reels globally, driven by a rising number of anglers across various European nations. According to the Social and Economic Aspects of Recreational Angling report from 2019, there are more freshwater anglers in Europe than sea anglers. This trend suggests that the demand for freshwater reels, including front drag spinning reels, freshwater spinning reels, and freshwater trolling reels, is likely to increase, further propelling market growth in the region.

Key players in the global fishing reels market include Accurate Fishing, Innovative Reels Technologies Ltd., Rather Outdoors, LLC., The Orvis Company, Piscifun, Eposeidon Outdoor Adventure Ltd., Cadence, JiuYu Fishing Tackle Co., Ltd., NingBo HaiBao Fishing Tackle Co., Ltd., and Cabela's LLC.

The overall analysis of the global fishing reels market has been derived from both primary and secondary research sources. The research process commenced with extensive secondary research, utilizing both internal and external resources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry participants to validate the findings and gain deeper analytical insights. Participants in this research included industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the fishing reels sector.