February 21, 2024

The Monofilament Fishing Line Market is Driven by Increasing Popularity of Recreational Fishing

Monofilament fishing line is synthetic line made from a single strand of fiber or filament. Such lines are durable, clear, and sensitive for anglers to detect fish bites. Monofilament lines provide a better fighting action with flexible casting properties compared to alternatives. These lines come in various breaking strengths and diameters to suit specific fishing applications. Popular fish species caught using monofilament line include bass, trout, bluegill, crappie and panfish that inhabit lakes and ponds. The global popularity of recreational fishing has encouraged tackle manufacturers to innovate better quality monofilament lines.

The global Monofilament Fishing Line Market is estimated to be valued at US$ 920 million in 2024 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:

One of the key trends in the monofilament fishing line market is the growing demand for knot strength and thin diameter lines. This can be attributed to the increasing popularity of ultralight fly fishing and other techniques that require stealth presentations. Anglers prefer thin but strong monofilament lines to present lures and baits delicately without spooking fish. Leading manufacturers are focusing on advanced production technologies to manufacture thin yet abrasion and fracture resistant fishing lines. They are using high-performance fibers and cross-linking processes to develop the next generation of strong and thin monofilament lines. This is expected to drive the market during the forecast period.

Porter’s Analysis

  • Threat of new entrants: The threat of new entrants in the monofilament fishing line market is moderate. New players will require huge capital investment to manufacture quality fishing lines and build a brand reputation.
  • Bargaining power of buyers: The bargaining power of buyers is high due to the availability of numerous product options from various established brands in the market. Buyers can switch to substitute products easily.
  • Bargaining power of suppliers: The bargaining power of suppliers is moderate. Key raw materials such as nylon, polyethylene, fluorocarbon, and fiberglass are globally available from numerous suppliers.
  • Threat of new substitutes: The threat of substitute products such as braided fishing lines is moderate. Each type of fishing line has its own advantages for different fishing conditions.
  • Competitive rivalry: The competitive rivalry in the monofilament fishing line market is high. Key players compete on the basis of productquality, price, innovation, and brand reputation.

Key Takeaways

The global monofilament fishing line market is expected to witness high growth over the forecast period. The global Monofilament Fishing Line Market is estimated to be valued at US$ 920 million in 2024 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030.

Regional analysis

North America is expected to hold a significant share of the monofilament fishing line market owing to high popularity of recreational fishing activities in countries like the US and Canada. Asia Pacific is also anticipated to show high growth rate over the forecast period with China, Japan, and India being major consumers of monofilament fishing lines in the region.

Key players

Key players operating in the monofilament fishing line market are Pure Fishing, Sunline, Seaguar, Berkley, Waz Fishing Line, Germantackle, Spider Wire, and Daiwa.