by Monofilament fishing line is a single stranded fishing line made from an artificial polymer such as nylon, polyester or polyethylene. It is widely used in recreational fishing activities due to its strength, durability and casting ability. Monofilament lines come in varying thicknesses or pounds test ratings to match the size of the lure or bait being used. These lines are also color treated or coated to attract fish or camouflage within the water. Common monofilament lines are used for spinning, casting, trolling and float fishing. The global monofilament fishing line market witnesses high demand from both commercial and recreational anglers. Recreational angling has emerged as a popular outdoor activity and is expected to drive the growth of this market over the forecast period.
The global monofilament fishing line Market is estimated to be valued at US$ 382.4 Mn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing recreational fishing activities (as mentioned in the heading) has been a key growth driver for the monofilament fishing line market. Fishing is a popular recreational sport and leisure activity enjoyed by both amateur and professional anglers worldwide. Increasing disposable incomes and changing lifestyle trends have boosted outdoor recreational activities such as fishing. Angling tourism has also surged the participation in fishing globally. The other driver is preference for advanced monofilament materials. Newer high-performance monofilament materials such as specialized extended polyethylene (XPE) and blended polymers are offering anglers with strength, casting distance and durability compared to conventional nylon or polyester lines. The enhanced material properties help anglers in efficiently catching different fish species.
Segment Analysis:
The monofilament fishing line market comprises three major segments – below 0.20 mm, 0.20-0.40 mm, and above 0.40 mm. The 0.20-0.40 mm segment currently dominates the market with over 50% share as lines of this diameter are ideal for both spinning and casting rods. This segment is expected to remain the leading segment over the forecast period due to its widespread adoption among amateur and professional anglers.
PEST Analysis:
- Political: Themonofilament fishing line marketis not directly impacted by political factors. However, regulations pertaining to fishing license and quotas set by regional fishing authorities could play a minor role.
- Economic: The market shows high correlation with global economic growth. During recessionary phases, discretionary spends on recreational activities like fishing tend to reduce. However, the Covid-19 pandemic has boosted interest in outdoor activities.
- Social: Fishing has emerged as a popular recreational activity and social hobby. The rise of fishing communities and tournament culture drives demand. However, concerns over animal welfare and the environment may deter some customers.
- Technological: Advancements in line material, such as high molecular weight and core-less construction, have enhanced durability and casting distance performance. Companies are also launching app-based solutions for reeling, line maintenance, etc. to augment experience.
Key Takeaways
The global monofilament fishing line market is expected to witness high growth over the forecast period. North America currently dominates and is expected to maintain its leading position throughout with the US accounting for over half of global demand. Europe represents another major markets driven by countries like Germany and the UK.
Regional analysis
The North American monofilament fishing line market accounts for over 35% revenue share currently led by the US. Fishing tournaments and fly fishing culture have created a robust market. Moreover, presence of leading brands such as Berkley and Daiwa have stronghold in the region. Growth will be further supported by rising popularity of recreational fishing amid Covid-19 pandemic.
Key players related content
Key players operating in the monofilament fishing line market are Berkley Fishing, Sufix Fishing Line, PowerPro, Spiderwire, Stren Fishing Line, Ande Monofilament, Seaguar, Momoi Fishing Line, Daiwa Corporation, Shimano Fishing, Rapala Fishing Line, P-Line, Yo-Zuri Fishing, Sunline, and YGK Fishing Line. Berkley Fishing and PowerPro currently occupy dominant market shares due to their technologically advanced lines and widespread distribution network.
