As per the report published by Allied Market Research, the global fishing reels market generated $5.0 billion in 2021, and is expected to reach $7.6 billion by 2031, growing at a CAGR of 4.3% from 2022 to 2031.
Increase in participation of people in recreational, hunting, and leisure activities and surge in interest of children toward fishing and its related activities have boosted the growth of the global fishing reels market. Moreover, strong economic growth, increase in disposable income, and rise in government focus on developing marine economy are expected to open new opportunities in the future.
The report segments global fishing reels market on the basis of product type, material, fishing type, distribution channel, and region.
Based on product type, the bait casting segment is projected to register the highest CAGR of 4.9% during the forecast period. However, the spinning segment held the lion’s share in 2021, accounting for nearly half of the market.
Request The Sample PDF Of This Report @https://www.alliedmarketresearch.com/request-sample/17266
On the basis of material, the aluminum segment dominated the market in terms of revenue in 2021, contributing to nearly two-fifthsof the market. However, the stainless steel segment is anticipated to register the highest CAGR of 5.0% during the forecast period.
The global fishing reels market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is expected to showcase the highest CAGR of 4.8% during the forecast period. However, the market across North America held the largest share in 2021, accounting for more than two-fifths of the market.
The global fishing reels market includes an in-depth analysis of the prime market players such as
CF Australia
ABU Garcia
Jarvis Walker Pty, Inc.
Daiwa Corporation
Lew’s Fishing
Kastking
Okuma Fishing Tackle Co., Ltd.
Maver UK Ltd.
Pure Fishing, Inc. (Penn)
Piscifun
The Orvis Company, Inc.
Shimano, Inc.
Zebco
Tica Fishing Tackle
13 Fishing
On the basis of fishing type, the freshwater segment led the market with 68.5% in 2021. The presence of large number of freshwater bodies across the globe and the rising number of participants in recreational fishing are the major factors that has boosted the growth of the freshwater segment.
Depending on the distribution channel, the online sales is expected to be the fastest-growing segment during the forecast period. This growth is attributable to the rising penetration of the smartphones, growing penetration of internet, rising adoption of e-commerce platforms, and rising investments of the suppliers on increasing their digital presence. According to the International Telecommunication Union (ITU), in 2021, around 4.9 billion people across the globe had access to the internet.
Region-wise, North America dominated the global fishing reels market in 2021. The huge presence of anglers and marine tourists along with the rising government initiatives to promote the growth of Blue economy owing to its huge impact on the GDP of the region has led to the dominance of this region in the global market.
The Interested Stakeholders can Enquire for the Purchase of the Report @ https://www.alliedmarketresearch.com/purchase-enquiry/A16888
Key findings of the study
The global fishing reels market size was valued at $5,024.1 million in 2021, and is estimated to reach $7,627.2 million by 2031, registering a CAGR of 4.3% from 2022 to 2031.
By product type, the baitcasting segment is estimated to witness the fastest growth, registering a CAGR of 4.9% during the forecast period.
By fishing type, the freshwater segment is estimated to witness the fastest growth, registering a CAGR of 4.4% during the forecast period.
By distribution channel, the online sales segment is estimated to witness the fastest growth, registering a CAGR of 5.2% during the forecast period.
In 2021, depending on material, the aluminum segment was valued at $1,882.3 million, accounting for 37.5% of the global market share.
In 2021, the U.S. was the most prominent market in North America, and is projected to reach $1,697.8 million by 2031, growing at a CAGR of 3.6% during the forecast period.
Contact:
Davin Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
[email protected]
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |
About Us:
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides end-to-end solutions along with information, education, advocacy, and networking resources to SMEs and early-stage start-ups to bring excellence to their processes. In addition, we offer a nurturing environment required to develop and grow businesses, including business planning; virtual support; market intelligence; acquiring resources; and getting direct access to finance, suppliers, and other experts to boost the growth of businesses and entrepreneurs.
Our bundled and hassle-free business support systems are customized to meet the needs of SME consultants and industry leaders. Moreover, our large network of skilled consultants and experts help start-ups get the business on a roll.
