Asia Pacific 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

Asia Pacific 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 Asia Pacific fishing reels market is expected to reach US$ 2,686.49 million by 2028 from US$ 1,769.83 million in 2021; it is estimated to register a CAGR of 6.1% from 2021 to 2028. In Asia-Pacific, countries such as Australia, China, and India are witnessing a surge in fishing activities due to an increasing trend of recreational fishing. Further, the different fishing activities practiced in other countries across the region positively impact the fishing reels market across the Asia Pacific. In a country such as India, mostly baitcasting fishing activities are carried out, resulting in increased demand for baitcasting reels in the country, leading to the overall growth of the fishing reels market in the Asia Pacific. Further, China is seeing an increase in the number of anglers or people taking part in recreational fishing due to increased participation from the younger generation, thereby increasing the growth of the market demand. A company such as JiuYu Fishing Tackle Co., Ltd. manufactures and designs innovative fishing reels with the usage of 2D and 3D software. Thus, such innovation in the manufacturing of fishing reels will provide growth opportunities for the other manufacturers present in the fishing reel market in the Asia Pacific. Further, the e-commerce industry growing rapidly has a positive impact on the fishing reels market as these online retailers make fishing reels easily available for consumers across the region. Thus, the factors mentioned above are responsible for the market growth in this region.

The governments of Asia Pacific countries took some possible steps to reduce the effects of the COVID-19 pandemic by announcing lockdowns, which negatively impacted the revenue generated by the market. The COVID-19 pandemic caused huge disruptions in the growth of various industries of Asia Pacific. However, the uncertainty regarding future outbreaks, especially in countries such as India and a few other Asian countries, has altered the status of several industrial sectors. The pandemic caused a shortage of labor, supply chain disruptions, the shutdown of manufacturing units, and transportation restrictions, negatively impacting the fishing reel market in Asia Pacific. In countries such as Australia and India, there was an increase in recreational fishing activities during the COVID-19 pandemic, which positively impacted the fishing reels market. Moreover, the relaxation of restrictions and the resumption of manufacturing operations stabilize the region's fishing reels market.

Based on type, the Asia Pacific fishing reels market is segmented into spinning reel, baitcasting reel, spincast reel, and others. The spincast reel segment is expected to register the highest CAGR during the forecast period. The spincast reel is one of the most accessible reels to operate, ideal for all ages. This reel has a cover or closed face that protects all of the reel's essential parts. To use the reel, press down on the thumb button on the back of the reel while casting forward, peeling the line out. The line stops peeling out when the user releases the button, making it easier to control. Spincast reels are easy to use and rarely cause line tangles, and they are the cheapest type of fishing reel, costing around $20 usually. Spincast reels are simple to use and inexpensive, but they have some drawbacks, such as their closed-face design traps water and debris inside the reel, which harms it over time; they also have a limited casting range and are not as precise as other reel types.

The overall Asia Pacific 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 Asia Pacific 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 Asia Pacific fishing reels market. The key companies operating in the market include Accurate Fishing; The Orvis Company; Piscifun; Eposeidon Outdoor Adventure Ltd.; Cadence; JiuYu Fishing Tackle Co., Ltd.; and NingBo HaiBao Fishing Tackle Co., Ltd.

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