Monofilament fishing line is a single synthetic filament line primarily used for catching fish. These lines are resistant to abrasion and degradation while maintaining strength for heavy usage. Monofilament fishing lines are preferred by anglers due to their limp yet sensitive feel. 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 key trends:
Increasing popularity of recreational fishing as a hobby and sport has been a key driver for the monofilament fishing line market growth. More number of people are taking up fishing not just as a means of livelihood but also as a way to spend their leisure time in open waters or shores. This has significantly boosted the demand for high quality yet affordable monofilament lines used by amateur and recreational anglers globally. Advancements in line material and coating technology have further made these lines more durable and castable, attracting even first-time fishers.
SWOT Analysis
- Strength: Monofilament fishing line has high strength and durability which makes it suitable for heavy duty fishing. Its smooth surface reduces friction in water providing better casting distance.
- Weakness: Monofilament fishing line has low stretch which can cause the line to break if a fish makes a sudden run. It is thicker than other types of lines which affects castability.
- Opportunity: Rising popularity of recreational fishing worldwide is driving the demand for high quality fishing lines including monofilament. Development of advanced high strength and castable monofilament material opens new opportunities.
- Threats: Availability of substitute fishing line materials like braided and fluorocarbon lines poses threat to monofilament market share. Stringent environmental regulations on fishing can negatively impact market growth.
Key Takeaways
The global monofilament fishing line market is expected to witness high growth over the forecast period of 2023 to 2030. Regional analysis
The North America region currently dominates the monofilament fishing line market owing to large number of angling enthusiasts. The Asia Pacific region is expected to grow at the fastest pace during the forecast period. Countries like China, Japan and India are witnessing rapid expansion in recreational fishing activities which is driving the demand for monofilament fishing lines in the region.
Key players
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. Key players are focused on developing advanced high strength yet castable monofilament material to strengthen their market position.
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