Monofilament fishing line, also known as fishing line, is a single filament of plastic or other synthetic material used for fishing line. It is widely used in various fishing techniques like spinning, bait casting, ice fishing and fly fishing due to its advantages such as smoothness, knot resistance, abrasion resistance and handling ability. Monofilament fishing lines help anglers catch fish efficiently by presenting baits or lures more naturally.
The global Monofilament Fishing Line Market is estimated to be valued at US$ 1.64 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:
The growth of the Monofilament Fishing Line Market is majorly accelerated by the increased participation in recreational fishing activities. According to the U.S. Fish and Wildlife Service’s 2016 National Survey of Fishing, Hunting and Wildlife Recreation Survey report, there were over 40 million recreational anglers in the United States alone. The increased popularity of recreational fishing has spurred the demand for effective monofilament fishing lines. Additionally, the availability of a wide range of fishing line variants catering to specific fishing techniques has further expanded the market scope. Technological advancements by key players to develop innovative monofilament lines with improved features continue to boost the marketgrowth globally.
Segment Analysis
The global Monofilament Fishing Line market is dominated by the freshwater segment. Monofilament fishing lines dedicated for freshwater fishing applications account for over 65% of the total market share. This is primarily because freshwater fishing is more popular than saltwater or deep-sea fishing globally. Monofilament lines suitable for casting, spinning and trolling in lakes and rivers are widely used by amateur and recreational anglers.
Key Takeaways
The global Monofilament Fishing Line market is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to reach a value of US$ XX Mn by 2030, expanding at a CAGR of 4.0% from 2023 to 2030.
Regional analysis:
The Americas region currently dominates the global Monofilament Fishing Line market with over 40% market share in 2024. The popularity of fishing as a hobby and sport in countries like the USA is driving high demand. The Asia Pacific region is expected to be the fastest growing market, growing at a CAGR of 5% during the forecast period. Increasing disposable incomes and investments in fishing tourism across Southeast Asian countries are fueling market growth.
Key players:
Key players operating in the Monofilament Fishing Line market are Pure Fishing, Inc., Sunline Brands, Berkley Inc., PP Fishing Line, Seaguar, Ankerdo, Owner Hooks and Cabela’s LLC. Pure Fishing, Inc. is currently the global market leader with a market share of over 15%. The company offers a wide range of monofilament lines for all types of fishing under top brands like Spiderwire and Berkley Trilene.
