Europe Fishing Reels Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Spinning Reel, Baitcasting Reel, Spincast Reel, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others

Europe Fishing Reels Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Spinning Reel, Baitcasting Reel, Spincast Reel, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others) 

The Europe fishing reels market is expected to reach US$ 2,615.26 million by 2028 from US$ 1,982.58 million in 2021; it is estimated to register a CAGR of 4.0% from 2021 to 2028. Europe is considered one of the largest fishing reel markets due to its wide product application scope in the regional processed food and electronics industries. The European Union (EUs) is one of the biggest manufacturing sectors in the food processing industry. According to the European Commission, EU food and drink exports have doubled, reaching over US$ 101.71 in the last 10 years. The increase in exports has led to an increase in the demand for corrugated packaging of food products, which enables safe and fresh transportation of food products. According to the European Federation of Fishing Reel Manufacturers (FEFCO), a non-profit organization representing the interests of the industry across Europe, more than 40% of the corrugated packaging is used to pack food products in Europe.

In Europe, the UK and Russia, followed by France, Spain, Italy, and Germany, are the hardest-hit countries by the COVID-19 pandemic. Initially, other member states had implemented drastic measures and travel restrictions, including partially closing their borders that impacted the import and export of products. Due to restrictions on imports and exports, the fishing reels from Asia Pacific countries could not be exported to Europe, which caused a shortage in the supply of fishing reels. During the lockdown, countries in Europe imposed restrictions and banned recreational fishing, which led to a decrease in demand for fishing reels. However, some countries encouraged recreational fishing during the pandemic, positively impacting the demand for fishing reels. Further, the start of manufacturing operations and ease of restrictions on recreational activities and import and export activities led to an increased demand for fishing reels.

Based on type, the Europe fishing reels market is segmented into spinning reel, baitcasting reel, spincast reel, and others. The baitcasting reel segment is expected to register the highest CAGR during the forecast period. Baitcasting reels are usually graphite, making them stiffer and more robust. Baitcast reels come in various forms and sizes, with the most common and popular type being the low-profile baitcasting reel, which maintains a lightweight and simple design for a wide range of casting applications. Baitcast reels require more practice than conventional reels and are ideal for casting far and wide. In addition, baitcasting reels are the most powerful fishing reels. Baitcasting reels carry heavy lines and have much pulling power, making them an excellent choice for larger fish, thereby boosting the growth of the segment. Baitcasters are extremely adaptable, pulling bottom fish from dense cover or making drop shots for bass. However, the drawback of using baitcaster reels is that different lure weights require different settings for the spool tension and brake mechanism, which is time taking as the user has to alter the settings every time they change the lure.

The overall Europe fishing reels market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information about the market. The process also serves the purpose of obtaining an overview and forecast of the Europe fishing reels market with respect to all the segments. Moreover, multiple primary interviews have been conducted with industry participants to validate data and gain more analytical insights into the topic. The participants involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the Europe fishing reels market. The key companies operating in the market include Accurate Fishing; Rather Outdoors, LLC; The Orvis Company; Piscifun; Cadence; NingBo Haibao Fishing Tackle Co., Ltd.; and Cabela’s LLC.

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