According to The Insight Partners market research study on “Europe Fishing Reel Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Type, Distribution Channel and Country,” is expected to reach US$ 2,615.26 million by 2028 from US$ 1,982.58 million in 2021. The market is estimated to grow at a CAGR of 4.0% from 2021 to 2028. The report provides trends prevailing in the Europe fishing reels market along with the drivers and restraints pertaining to the market growth. Growing awareness regarding different fishing reels and incrementing number of anglers in developing countries are major factors driving the growth of the Europe fishing reels market. However, high demand for rented equipment may hinder the growth of Europe fishing reels market.
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, causing 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. The start of manufacturing operations and ease of restrictions on carrying out recreational activities and import and export activities will lead to an increased demand for fishing reels.
The market for Europe 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 Europe fishing reels market. Based on distribution channel, the Europe 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 Europe fishing reels market is segmented into Germany, France, Italy, UK, Russia and rest of Europe. In 2020, rest of Europe held the largest share in Europe fishing reels market. Furthermore, in this present scenario of COVID 19 pandemic, the Europe fishing reels market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Europe countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for fishing reels.
Report : 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)
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