by Monofilament fishing lines are synthetic, transparent filaments used for casting and trolling. They are more durable and stronger as compared to natural gut or silk lines. Fishing lines need to be strong enough not to break yet thin enough to cast long distances. Monofilament fishing lines provide the right balance of durability and thinness.
The global Monofilament Fishing Line Market is estimated to be valued at US$ 2.2 billion 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 key trends:
Increasing Popularity of Recreational Fishing
The popularity of recreational fishing has increased significantly over the years. This can be attributed to factors such as emerging trends of outdoor recreational activities, rising disposable income, and availability of time for leisure. According to statistics by the American Sportfishing Association, around 36 million Americans go fishing in freshwaters annually. This rising popularity of recreational fishing has boosted the sales of fishing lines including monofilament lines as anglers need strong yet thin lines for better castability and strength. This increasing demand from recreational anglers is expected to continue propelling the growth of the monofilament fishing line market during the forecast period.
SWOT Analysis
- Strength: Monofilament fishing line made from a single polymer material is strong and durable. It retains its strength when wet.
- Weakness: Monofilament has very less elasticity and is prone to tangling when casting. It is smooth and lacks texture for better grip.
- Opportunity: Growing popularity of recreational fishing is driving the demand for high-performance fishing lines globally. New product innovations with enhanced features are expanding market opportunities.
- Threats: Rising awareness about environmental issues may impact plastic-based fishing line consumption. Strict fishing regulations in some regions pose challenges.
Key Takeaways
The global monofilament fishing line market is expected to witness high growth. The global Monofilament Fishing Line Market is estimated to be valued at US$ 2.2 billion in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030.
The North America monofilament fishing line market accounts for a major share currently due to strong fishing culture and sports fishing industry in the US and Canada. Asia Pacific is likely to emerge as the fastest growing market in the coming years supported by increasing fishing activities and rising disposable incomes in China and India.
Key players
Key players operating in the monofilament fishing line market are Pure Fishing Inc., Sunline Fisheries Inc., Zebco Brands LLC, Berkley FireLine Superline, Calcutta Fishing Lines Pvt. Ltd.
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