The Canadian fishing reels market demonstrated fluctuations from 2013 to 2023, with market size decreasing from USD 87.619 million in 2013 to USD 78.956 million in 2023. Notable declines occurred between 2016 and 2019, particularly with a significant drop in 2019 by 9.77%. While there was a brief recovery in 2021, the market slightly declined again by 2023. The Compound Annual Growth Rate (CAGR) for the last five years showed an average annual decline of 1.84%, illustrating a challenging period for the industry.
Future trends to watch for:
- Increased interest in sustainable and environmentally friendly fishing practices.
- Technological advancements in fishing gear enhancing consumer interest.
- Economic factors influencing consumer spending on leisure activities, including fishing.
- Potential recovery in outdoor activities popularity post-pandemic could spur growth.
How does Canada rank in Fishing Reels Market Size Value?
| # | 16 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 150,320,000 | 2023 | +9.06% | +3.66% | View data |
| 2 | 2 France | 109,900,000 | 2023 | +3.78% | +2.51% | View data |
| 3 | 3 United Kingdom | 89,294,000 | 2023 | +2.48% | +4.19% | View data |
| 4 | 4 Netherlands | 88,760,000 | 2023 | +2.79% | +3.28% | View data |
| 5 | 5 Germany | 82,455,000 | 2023 | -2.05% | -3.02% | View data |
| 6 | 6 Canada | 78,956,000 | 2023 | -0.34% | -1.84% | |
| 7 | 7 Spain | 34,170,000 | 2023 | -0.71% | -1.53% | View data |
| 8 | 8 Sweden | 32,579,000 | 2023 | +1.79% | +0.85% | View data |
