by Monofilament fishing line is a single fiber or filament produced from raw polymer materials including nylon, polyethylene, polypropylene and fluorocarbons. Compared to natural gut or braided lines, monofilament line is more durable, visible in water and resistant to abrasion. It commonly comes in diameters 0.6 to 15 pounds so as to suit different fishing techniques and tackle. Monofilament line is mainly used by anglers for casting, spinning, trolling and bottom fishing. The growing participation in recreational fishing activities has boosted the demand for monofilament lines.
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:
One of the key trends in the monofilament fishing line market is the increasing adoption of braided lines. Braided lines offer benefits including greater casting distance, lower visibility in water and smaller diameter compared to conventional monofilament lines, making fishing more enjoyable. While monofilament lines continue to be popular for their affordability, braided lines have garnered popularity among avid anglers looking for a competitive edge. Leading line manufacturers are introducing braided lines made ofDyneema, Vectran and other new age materials to cater to anglers looking for enhanced performance. The demand for braided fishing lines is expected to grow at a higher rate over the forecast period, posing competition to traditional monofilament lines. However, monofilament lines will continue to find widespread usage given their affordability.
Porter’s Analysis
- Threat of new entrants: The threat of new entrants in the monofilament fishing line market is low as it requires high capital investments and technical expertise. Monofilament fishing lines require advance manufacturing techniques and facilities which pose high entry barriers.
- Bargaining power of buyers: The bargaining power of buyers is moderate. However, the availability of substitute products like braided fishing line limits the bargaining power of buyers to some extent.
- Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of numerous raw material suppliers and lack of differentiation in raw materials.
- Threat of new substitutes: The threat of substitutes is moderate. Braided fishing lines offer an alternative but monofilament lines have their own advantages in terms of casting distance and feel.
- Competitive rivalry: The competitive rivalry in the market is high due to presence of numerous global and regional manufacturers. Players compete based on product offerings, quality, and pricing.
Key Takeaways
The global monofilament fishing line market is expected to witness high growth. Regional analysis Regional analysis The Asia Pacific region dominates the global monofilament fishing line market and is expected to grow at the fastest rate during the forecast period. Countries like China, Japan, and Australia have high fishing activities which will drive the market.
Key players operating in 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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
