The Spinning Reel Segment to Dominate North America Fishing Reels Market during 2021-2028

According to a new market research study on “North America Fishing Reel Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Type, Distribution Channel and Country,” is expected to reach US$ 2,513.81 million by 2028 from US$ 1,688.67 million in 2021. The market is estimated to grow at a CAGR of 5.8% from 2021 to 2028. The report provides trends prevailing in the North America fishing reels market along with the drivers and restraints pertaining to the market growth. Rising awareness regarding different fishing reels, and growing number of anglers in developing countries are major factors driving the growth of the North America fishing reels market. However, high preference for rented equipment may hinder the growth of North America fishing reels market.

The US has the highest number of confirmed COVID-19 cases among all key countries in the region. This has negatively impacted the overall manufacturing processes and research and development activities. Along with this, the restrictions on exports and imports imposed by governments disrupted the supply chain of fishing reels, as countries such as the US and Canada could not import fishing reels from the Chinese manufacturers. Slowly and gradually, manufacturing units are being operational again and various industries are recovering, which will positively impact the fishing reels market. Furthermore, domestic manufacturers are increasingly manufacturing fishing reels after the relaxation of some restrictions to lessen their overdependence on China for fishing reels. Moreover, due to the mental stress caused by the COVID-19 pandemic, people in North America have taken an interest in fishing to remain calm. It was also considered a safe activity during the pandemic. Thus, these factors will positively impact the fishing reels market in the region.  

The market for North America fishing reels is segmented into type, distribution channel and country. Based on type, the market is segmented into spinning reel, baitcasting reel, spincast reel, and others. In 2020, the spinning reel segment held the largest share in North America fishing reels market. Based on distribution channel, the North America fishing reels market is divided into supermarkets and hypermarkets, specialty stores, online retail, and others. The online retail segment is expected to be the fastest growing segment over the forecast period. Based on country, the North America fishing reels market is segmented into US, Canada and Mexico. In 2020, US held the largest share in North America fishing reels market. Furthermore, in this present scenario of COVID 19 pandemic, the North America fishing reels market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the North America countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for fishing reels.

Accurate Fishing; Innovative Reels Technologies Ltd.; Rather Outdoors, LLC; The Orvis Company; Piscifun; Eposeidon Outdoor Adventure Ltd.; Cadence; NingBo HaiBao fishing tackle co., Ltd.; and Cabela’s LLC are some of the leading companies in the North America fishing reels market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

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