Global Fishing Reel Market Size, Share, Growth Analysis By Type (Spincast Reel, Spinning Reel, Baitcasting Reel, Other Types), By Distribution Channel (Offline, Online), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Statistics, Trends and Forecast 2024-2033

Report Overview

The Global Fishing Reel Market size is expected to be worth around USD 7.9 Billion by 2033, from USD 5.1 Billion in 2023, growing at a CAGR of 4.5% during the forecast period from 2024 to 2033.

A fishing reel is a mechanical device attached to a fishing rod that helps control line release and retrieve. Reels vary by fishing style, offering options for beginners and professionals. Common types include spinning, baitcasting, and fly reels, each designed for specific techniques and enhancing angler control and efficiency.

The fishing reel market includes manufacturers and suppliers of reels catering to recreational and professional anglers. This market provides various reel types suited for different fishing styles, supporting a wide consumer base. As recreational fishing grows, demand for high-quality, specialized reels increases, driving advancements in design and technology.

Recreational fishing participation is rising. The Recreational Boating & Fishing Foundation (RBFF) reported 57.7 million Americans fished in 2023, marking a 6% increase from 2022. Notably, 21.3 million women participated, the highest recorded since tracking began, reflecting a broadening demographic in the fishing community.

Fly fishing has also gained popularity, with 7 million Americans participating in 2023, according to Flylords Magazine. Fly reels cater specifically to this technique, showcasing the demand for specialized equipment as more anglers pursue fly fishing, a sector with distinct gear needs and preferences.

Economic impact is significant in the fishing industry. In 2022, anglers in the U.S. spent over $51 billion on gear, licenses, trips, and other fishing-related items. This spending underscores the economic contribution of recreational fishing, bolstering the demand for quality fishing reels and related products.

As market competition grows, companies focus on innovation, offering durable and advanced reels to meet consumer expectations. From casual anglers to experienced fishers, the fishing reel market adapts to various needs, enhancing product variety and supporting a thriving recreational activity across the U.S. and globally.

Key Takeaways of Fishing Reel Market

• The Fishing Reel Market was valued at USD 5.1 Billion in 2023 and is projected to reach USD 7.9 Billion by 2033, with a CAGR of 4.5%.
• In 2023, Spinning Reel dominates the type segment with 35.0%, favored for its versatility.
• In 2023, Offline is the leading distribution channel, reflecting consumer preference for physical retail.
• In 2023, North America holds 61.7% of the market, supported by recreational fishing activities.

Type Analysis

Spinning Reel dominates with 35.0% due to its versatility and ease of use.

In the fishing reel market, the segmentation by type includes spincast reels, spinning reels, baitcasting reels, and other types. The spinning reel sub-segment leads with a 35.0% market share, attributed to its widespread popularity among both novice and experienced anglers.

Spinning reels are prized for their versatility, ease of use, and ability to handle light to medium fishing lines and lures, making them suitable for a wide range of fishing conditions.

Baitcasting reels, while popular among experienced anglers for their precise control and capability to handle heavier lines, represent a smaller portion of the market. Spincast reels are ideal for beginners due to their simple operation and low likelihood of line tangling.

Other types of reels, such as fly fishing reels and trolling reels, cater to specific fishing techniques and environments, supporting the market’s diversity and helping meet the needs of specialized fishing activities.

Distribution Channel Analysis

Offline sales lead due to the preference for hands-on testing and immediate product availability.

The fishing reel market is also analyzed by distribution channels, mainly offline and online sales. The offline distribution channel remains predominant, though specific statistics for its market share are not provided. This dominance is largely because consumers prefer to inspect and test fishing reels in person to assess their feel, balance, and build quality before making a purchase.

Sporting equipment stores, outdoor recreation stores, and specialty fishing shops provide opportunities for customers to receive expert advice and find the reel that best fits their fishing style and preferences.

The online segment, although growing, presents challenges such as the inability to physically examine products before purchase. However, the convenience of online shopping, often coupled with broader selections and competitive pricing, continues to draw a significant number of consumers.

The growth of e-commerce platforms and improvements in logistics are expected to increase the online sales share over time, reflecting broader retail trends across various sectors.

Key Market Segments

By Type

• Spincast Reel
• Spinning Reel
• Baitcasting Reel
• Other Types

By Distribution Channel

• Offline
• Online

Drivers

Popularity of Recreational Fishing and High-Performance Demand Drives Market Growth

The Fishing Reel Market is expanding due to the rising popularity of recreational fishing, increased disposable income, demand for durable reels, and growth in outdoor sports activities.

Recreational fishing has become a popular leisure activity, driving demand for quality fishing equipment, including high-performance reels. This trend is supported by rising disposable incomes, allowing consumers to spend more on leisure activities and quality fishing gear.

Additionally, there is a growing preference for high-performance and durable reels that can withstand different fishing environments, such as saltwater and freshwater. Manufacturers are responding to this demand by developing robust and advanced fishing reels.

Restraints

High Costs and Limited Awareness Restrain Market Growth

Several factors restrain the growth of the Fishing Reel Market, including the high cost of advanced fishing reels, limited awareness in developing regions, environmental regulations on materials, and competition from low-cost alternatives.

Advanced fishing reels often come with premium price tags, which can be a barrier for entry-level or budget-conscious consumers. This high cost limits market accessibility, especially in price-sensitive regions.

In developing regions, limited awareness of recreational fishing as a leisure activity also restricts market growth. Environmental regulations, particularly on materials that may affect ecosystems, add another layer of complexity, requiring manufacturers to adhere to sustainable practices. Competition from generic, low-cost reels further challenges established brands to maintain a balance between quality and affordability.

Opportunity

Emerging Markets and Sustainable Materials Provide Opportunities

The Fishing Reel Market has growth opportunities arising from expansion into emerging markets, demand for sustainable materials, the rise of e-commerce, and development of customized reels.

Emerging markets offer a promising growth avenue as increasing disposable incomes and urbanization drive interest in leisure activities, including fishing. This expansion opens up new consumer segments for fishing reel manufacturers to target with accessible, quality products.

As environmental consciousness rises, there is a growing demand for sustainable materials in fishing gear, including fishing reels. Manufacturers adopting eco-friendly materials appeal to environmentally conscious consumers, meeting evolving market expectations.

The growth of e-commerce platforms allows brands to reach a global audience, providing convenient access to diverse products. Customized and specialty reels, tailored to specific fishing types or environments, also present opportunities for differentiation and increased customer engagement.

Challenges

Material Costs and Competition Challenge Market Growth

Challenges in the Fishing Reel Market include volatile raw material prices, intense competition among established brands, rapid technological advancements, and distribution complexities.

Fluctuating prices for essential materials like metals and composites affect production costs, influencing pricing stability for fishing reels. High competition among established brands requires continuous innovation and competitive pricing, making it challenging for smaller players to capture market share.

Rapid technological advancements in fishing gear require companies to invest in new technologies, which can be costly and time-consuming. These advancements drive consumer expectations, adding pressure on brands to keep up. Additionally, supply chain and distribution challenges, particularly in remote or underserved areas, affect the availability and affordability of fishing reels.

Growth Factors

Rising Interest in Outdoor Activities and Health Focus Are Growth Factors

The Fishing Reel Market benefits from growth factors such as an expanding middle-class population, rising interest in adventure activities, a focus on health and wellness, and demand for multi-functional fishing equipment.

Increased interest in adventure and nature-based activities encourages more consumers to explore fishing as a form of outdoor recreation. The focus on health and wellness also contributes to this trend, as outdoor activities are increasingly valued for their physical and mental benefits.

The demand for multi-functional equipment that serves various fishing needs further supports market growth, as consumers seek versatile products for different environments.

Emerging Trends

Demand for Lightweight Reels and Technological Features Is Latest Trending Factor

Trending factors impacting the Fishing Reel Market include the demand for lightweight, portable reels, increased participation of women in fishing, popularity of technologically enhanced gear, and growth in eco-conscious products. Consumers are increasingly interested in lightweight reels that are easy to handle and transport, catering to the need for convenience and portability.

The rise in women’s participation in fishing has also influenced the market, with brands developing reels that cater to a broader audience. Technological advancements, such as smart fishing gear equipped with sensors and tracking features, are trending as they enhance the fishing experience and performance.

Additionally, the demand for eco-friendly products is rising, with consumers favoring reels made from sustainable or recyclable materials.

Regional Analysis of Fishing Reel Market

North America Dominates with 61.7% Market Share

North America leads the Fishing Reel Market with a 61.7% share, amounting to USD 3.15 billion. This dominance is driven by a strong recreational fishing culture, advanced product innovation, and high spending on outdoor leisure. The U.S. is the largest contributor, supported by abundant freshwater and coastal fishing spots.

The region benefits from a well-developed sports retail sector, strong marketing of fishing activities, and a variety of product options catering to different skill levels. The growth of fishing as a family activity and increasing interest in sports fishing tournaments further support market performance. Additionally, technological advancements in fishing reel designs enhance user experience, driving demand.

North America’s presence in the fishing reel market is expected to remain strong. Future growth will be driven by product innovations, increasing participation in fishing events, and expanding e-commerce channels.

Regional Mentions:

• Europe: Europe sees steady growth, driven by a strong interest in recreational fishing, expanding fishing tourism, and growing demand for lightweight, high-performance reels.
• Asia Pacific: Asia Pacific experiences rapid growth, fueled by increasing disposable incomes, expanding middle-class populations, and rising interest in both freshwater and coastal fishing in countries like Japan, China, and Australia.
• Middle East & Africa: The region shows gradual growth, supported by expanding coastal tourism and fishing activities, particularly in the UAE and South Africa.
• Latin America: Latin America shows potential, driven by growing awareness of recreational fishing and the development of tourism infrastructure in countries like Brazil and Argentina.

Key Regions and Countries covered іn thе rероrt

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Key Players Analysis of Fishing Reel Market

The fishing reel market is highly competitive, driven by rising interest in recreational fishing and demand for high-performance gear. The top four players in this sector are Shimano Inc., Daiwa, Penn Spinfisher, and ABU Garcia. These companies maintain strong positions through innovation, precision engineering, and strong distribution networks.

Shimano Inc. leads the market with advanced technology, offering reels that are lightweight, durable, and designed for smooth performance. Its focus on precision engineering and innovation makes it a preferred choice among professional and recreational anglers.

Daiwa is known for its cutting-edge reel designs, including spinning, baitcasting, and trolling reels. The brand emphasizes quality, performance, and user comfort, making it popular worldwide. Daiwa’s strong presence in Asia and expanding global network contribute to its growth.

Penn Spinfisher specializes in saltwater reels that are robust, durable, and corrosion-resistant. It targets serious anglers with products designed for harsh marine environments. Penn’s reputation for high-quality saltwater gear drives its market position.

ABU Garcia offers a wide range of reels, focusing on innovation and affordability. The brand targets beginners and experienced anglers, making it accessible to a broad audience. ABU Garcia’s strong marketing and retail presence enhance its competitiveness.

These companies drive growth by focusing on advanced materials, smooth performance, and expanding product lines, positioning them as leaders in the fishing reel market.

Top Key Players in the Market

• Stradic
• Daiwa
• Creed
• GT
• ABU Garcia
• HaiBao Fishing Tackle Co., Ltd.
• Penn Spinfisher
• Shozaburo Shimano
• Pflueger
• Shimano Inc.
• Orvis
• TICA Fishing
• Mitchell Reel Co.
• AFTCO Mfg
• Other Key Players

Recent News of Fishing Reel Market

• PENN: On July 2024, PENN launched the Fathom Electric Lever Drag Cordless Fishing Reel, equipped with an internal battery that provides enhanced mobility for deep-sea fishing. This advanced reel offers high torque, allowing anglers to retrieve large catches from significant depths without external power sources.
• Busch Light and Plenty of Fish: On March 2024, Busch Light collaborated with the dating app Plenty of Fish to launch the “Fish Pic Badge,” celebrating anglers and coinciding with the release of Busch Light’s limited-edition Fishing Cans. This initiative connects the fishing community with online dating.
• Rapala VMC Corporation: In December 2020, Rapala VMC Corporation expanded its 13 Fishing brand internationally, reaching over 25 countries with products tailored to local angling needs. This expansion underscores Rapala VMC’s dedication to providing innovative fishing gear to a global audience.

Report Scope