Fishing Reels Global Market Report 2024

The fishing reels market size has grown strongly in recent years. It will grow from $5.4 billion in 2023 to $5.73 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth observed during the historical period can be attributed to the expansion of recreational fishing, the growth of fishing tourism, an increase in fishing tournaments, the expansion of e-commerce platforms, and a rise in the popularity of fly fishing.

The fishing reels market size is expected to see strong growth in the next few years. It will grow to $7.02 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The anticipated growth in the forecast period can be attributed to an increased focus on lightweight design, a growing demand for specialized reels catering to different species, changes in environmental conservation regulations, an emphasis on customization and personalization, and the evolution of compact and portable reels. Major trends expected in the forecast period include innovation in gear technology, advances in materials, technological enhancements in drag systems, the promotion of sustainable fishing practices, the integration of smart technologies, the adoption of sustainable and eco-friendly designs, and the incorporation of AI for fishing assistance.

The anticipated rise in fish consumption is set to drive the growth of the fishing reel market. Fish consumption refers to the inclusion of fish and other seafood in one's diet. Fishing reels play a crucial role in catching fish, facilitating the angler's ability to hook, fight, and successfully land fish. As of July 2020, the Organization for Economic Cooperation and Development (OECD), a US-based intergovernmental organization, projects that 90% of fish production will be used as food by 2029. The consumption of fish for human consumption is expected to increase by 16.3%, adding an additional 25 metric tons and reaching 180 metric tons by 2029. Therefore, the growing trend of fish consumption is a driving force behind the expansion of the fishing reel market.

The ongoing expansion of the e-commerce industry is expected to fuel the growth of the fishing reel market. E-commerce, involving the online buying and selling of goods and services, provides a substantial boost to the fishing reel market by offering a convenient and extensive platform for anglers to explore and purchase a diverse range of reels from various brands. The rise of e-commerce platforms enables manufacturers and retailers to reach a broader customer base, allowing anglers to easily access and compare different reel models, features, and price points before making informed purchasing decisions. For example, in May 2021, the United States Department of Commerce reported a substantial 39.0% increase in US e-commerce sales in the first quarter of 2021 compared to the same period in 2020. Hence, the continued expansion of the e-commerce industry is a driving factor for the fishing reel market.

A key trend gaining popularity in the fishing reels market is the introduction of product innovations. Major companies in the fishing reels market are dedicated to developing innovative products and solutions to maintain their competitive positions. In July 2023, Shimano Inc., a Japan-based cycling company, unveiled the Curado 200 M, a low-profile power baitcasting fishing reel. This reel, designed for bass fishermen using heavier lines and lures, features advanced components for durability and optimal performance. The Curado 200 M incorporates Shimano's MagnumLite (MGL) Spool III to reduce startup inertia, SilentTune technology for quieter casts, and SVS Infinity braking technology for precise casting and reliable spool management. These innovations enhance the reel's performance in challenging situations or when switching between baits.

Major companies in the fishing reels market are introducing new products such as colorful spinning reels made with aircraft-grade aluminum to gain a competitive edge. Aircraft-grade aluminum, renowned for its high quality and compliance with stringent standards, is used in the construction and manufacturing of aircraft components. In August 2021, Sougayilang, a China-based fishing gear company, launched the GSM fishing reel, a colorful spinning reel priced at around $60. This upgraded model, constructed with aircraft-grade aluminum, offers reduced weight, increased strength, and enhanced durability. The GSM reel features a zinc alloy main drive gear, a solid brass pinion gear, and 12 corrosion-resistant ball bearings for smooth operation. Suitable for both freshwater and saltwater fishing, the GSM reel provides anglers with an attractive and high-performance option for various applications.

In February 2021, Rather Outdoors Corporation, a US-based fishing equipment manufacturing company, acquired Zebco for an undisclosed amount. This acquisition positions Rather Outdoors for strong development potential, enabling the continued creation of complementary services for consumers in the fishing community. Zebco, a US-based manufacturer of fishing equipment, including fishing reels, adds to the comprehensive offerings within Rather Outdoors Corporation.

Major companies operating in the fishing reels market report are Shimano Inc., G. Loomis, L.L.Bean Inc., Pure Fishing Inc., Weihai Guangwei Group Co. Ltd., Hardy & Greys Limited, Penn Fishing Tackle Manufacturing Co., Hatch Outdoors, E.A. Pflueger Company, Quantum Fishing, Okuma Fishing Tackle Corp., Lew's Fishing, Sage Fly Fishing, ABU Garcia, Daiwa Corporation, Accurate Fishing, Jiuyu Fishing Tackle Co. Ltd., Avet Reels, Galvan Fly Reels, Nautilus Reels, Echo Fly Fishing, Islander Reels, Eposeidon Outdoor Adventure Inc, Lamson, Loop Tackle Design, NingBo HaiBao Fishing Tackle Co. Ltd., Ross Reels, Zebco Brands.

North America was the largest region in the fishing reels market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fishing reels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the fishing reels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary types of fishing reel products include spinning, spin-cast, fly reel, baitcasting, and others. Spinning reels, widely used for recreational fishing, are mounted beneath fishing rods, known for their versatility and user-friendly design. These reels are constructed from various materials such as aluminum, graphite, and stainless steel. Suitable for both freshwater and saltwater fishing, they incorporate mechanisms such as anti-reverse and direct-drive reels. Fishing reels are available through diverse distribution channels, including modern trade, outdoor sport stores, online sales, and others.

The fishing reels market research report is one of a series of new reports that provides fishing reels market statistics, including fishing reels industry global market size, regional shares, competitors with a fishing reels market share, detailed fishing reels market segments, market trends and opportunities, and any further data you may need to thrive in the fishing reels industry. This fishing reels market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The fishing reels market consists of sales of conventional reels, electric reels, and low profile bait cast reel. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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