The Latest Global Golf Industry Statistics Explained
The global golf market is expected to reach $14.36 billion by 2023, up from $11.61 billion in 2018.
The statistic indicates that the global golf market is projected to experience substantial growth over the five-year period from 2018 to 2023, with an expected increase from $11.61 billion to $14.36 billion. This growth suggests a positive trend in the industry, likely driven by factors such as increasing participation in the sport, rising popularity of golf tourism, and continued innovation in golf equipment and technology. The projected increase in market size may present opportunities for businesses operating in the golf industry to capitalize on this growth, expand their market share, and potentially attract more investment into the sector.
The United States was the largest market for golf products, recording sales of more than $3.6 billion in 2017.
The statistic “The United States was the largest market for golf products, recording sales of more than $3.6 billion in 2017” indicates that the golf industry in the United States is significant and thriving. This figure highlights the substantial demand for golf products in the country and reflects the popularity of the sport among Americans. The sales figure of over $3.6 billion suggests a robust market for golf equipment, apparel, accessories, and services, illustrating the economic importance of the golf industry within the nation. Additionally, this statistic could also imply opportunities for further growth and investment in the golf sector in the United States.
There are approximately 60 million golfers worldwide.
The statistic “There are approximately 60 million golfers worldwide” suggests that there is a significant global presence of individuals actively participating in the sport of golf. This figure indicates a large and diverse community of people who engage in golfing activities across various countries and regions around the world. The statistic highlights the popularity and widespread appeal of golf as a recreational and competitive sport, emphasizing its status as a widely practiced leisure activity on a global scale. Additionally, the sheer number of golfers further underscores the economic impact and cultural significance of golf as a sport that transcends boundaries and brings people together through a shared passion for the game.
There are roughly 34,011 golf courses in the world, with approximately half of those in the United States.
The statistic that there are approximately 34,011 golf courses worldwide, with around half of them located in the United States, highlights the popularity and prevalence of golf as a recreational sport. The sheer number of golf courses around the world underscores the global appeal of the game and the existence of a vibrant golfing community. The fact that nearly half of these courses are located in the United States speaks to the country’s longstanding tradition and enthusiasm for golf. It also reflects the extensive infrastructure and resources dedicated to supporting the sport in the U.S. This statistic emphasizes the widespread accessibility of golfing opportunities for enthusiasts worldwide, while also underscoring the significant presence of the sport within the American leisure landscape.
The number of golf participants in the U.S. fell to 23.8 million in 2019, down from 24.2 million in 2015.
The statistic indicates a decline in the number of individuals participating in golf in the United States from 24.2 million in 2015 to 23.8 million in 2019. This 1.7% decrease suggests a slight downward trend in golf participation over the four-year period. Possible factors contributing to this decline could include shifting recreational preferences, economic factors affecting leisure spending, changing demographics, or other societal trends. Organizations involved in the golf industry may need to analyze and address these factors to understand the reasons behind the decrease and potentially implement strategies to attract more participants to the sport.
The total sale of golf apparel in the U.S. was $2.91 billion in 2019.
The statistic indicating that the total sale of golf apparel in the U.S. was $2.91 billion in 2019 reveals the significant economic impact of the golf apparel industry in that year. This total sales figure reflects the collective amount of money spent by consumers on various golf-related clothing items such as shirts, pants, shoes, hats, and accessories. The high sales figure suggests a strong demand for golf apparel among U.S. consumers in 2019, likely driven by factors such as the popularity of golf as a recreational activity and fashion trends within the sport. This statistic not only provides insight into consumer behavior and preferences related to golf attire but also highlights the substantial market size and revenue potential of the golf apparel industry in the U.S.
There are over 14,600 golf facilities in the United States, making up about 45% of the global total.
The statistic that there are over 14,600 golf facilities in the United States, comprising approximately 45% of the global total, indicates the significant presence and popularity of golf in the country. This substantial number of golf facilities reflects the strong cultural and recreational appeal of the sport in the United States. The high concentration of golf courses highlights the accessibility of the sport to a large population within the country. Furthermore, it suggests that the demand for golf as a leisure activity or competitive sport is robust in the United States compared to other parts of the world, contributing to the overall economic and social significance of the golf industry within the nation.
In 2020, there were 441 million rounds of golf played in the United States, up from 441.7 million rounds in 2019.
The statistic indicates that the total number of rounds of golf played in the United States in 2020 was slightly lower than in 2019, with a decrease from 441.7 million rounds to 441 million rounds. This slight decline suggests a relatively stable level of participation in the sport year-over-year. While the COVID-19 pandemic likely had an impact on the number of rounds played in 2020 due to restrictions and safety concerns, the fact that the decrease was minimal indicates a high level of continued interest in golf despite challenging circumstances. The statistic provides insight into the overall trends and popularity of golf in the United States during a year marked by significant disruptions and changes.
About 75% of the global golf supply is concentrated in the top 10 countries.
The statistic suggests that a large majority (75%) of the total global supply of golf-related goods and services is predominantly located in the top 10 countries in the world. This implies that these countries play a significant role in the golf industry and likely have a higher number of golf courses, equipment manufacturers, training facilities, tournaments, and overall participation in the sport compared to other countries. The concentration of golf supply in these top countries highlights their influence on the global golf market and the importance of their contribution to the overall industry.
The Japanese golf market is estimated to be worth approximately $15 billion.
The statistic that the Japanese golf market is estimated to be worth approximately $15 billion highlights the substantial economic value associated with golfing in Japan. This figure represents the total amount of money generated through various aspects of the golf industry in Japan, including equipment sales, green fees, memberships, tournaments, and related services. The high valuation of the Japanese golf market suggests a strong interest and participation in the sport within the country, as well as potential opportunities for businesses and investors to tap into this lucrative market. Additionally, the sizeable market value underscores the significant impact that golf has on the economy, tourism, and overall leisure industry in Japan.
The percentage of golfers in China under the age of 30 is more than 25%.
This statistic indicates that more than a quarter of the golfing population in China is under the age of 30. This may suggest a growing interest in the sport among younger demographics in the country. The percentage exceeding 25% signifies a notable demographic shift towards young golfers, potentially influenced by factors such as increased exposure to the sport, improved access to golfing facilities, and evolving trends in leisure activities among Chinese youth. This statistic could be reflective of broader demographic trends and changing attitudes towards golf as a form of recreation and sport in China.
The average American golf facility annual revenue is approximately $1.3 million.
The statistic that the average American golf facility annual revenue is approximately $1.3 million suggests that this industry is a significant player in the sports and recreational sector. This figure serves as a benchmark for understanding the financial performance of golf facilities across the country, indicating a relatively stable and lucrative market. The revenue generated by these facilities encompasses various sources such as green fees, memberships, pro shop sales, event hosting, and food and beverage services. Understanding the average revenue in this industry can help stakeholders make informed decisions regarding investment, pricing strategies, and overall business operations within the golf sector.
The global golf cart market was valued at USD 4.9 billion in 2018, and is projected to expand at a CAGR of 7.3% from 2019 to 2025.
This statistic indicates that the global golf cart market was valued at USD 4.9 billion in 2018, and it is forecasted to grow at a Compound Annual Growth Rate (CAGR) of 7.3% from 2019 to 2025. This suggests that the market for golf carts is expected to continue growing steadily over the coming years. The CAGR of 7.3% represents the average annual growth rate of the market during this period. This projection can be influenced by factors such as increasing popularity of golf as a recreational activity, technological advancements in golf carts, and rising environmental concerns driving demand for electric golf carts. Overall, this statistic highlights the positive outlook for the global golf cart market and opportunities for growth in the industry.
The Asia Pacific region is anticipated to be the fastest growing golf cart market as a result of an increase in the number of golf courses and rising tourism.
The statistic indicates that the Asia Pacific region is expected to experience rapid growth in the golf cart market due to two main factors: the expansion of golf courses and a rise in tourism. The increasing number of golf courses in the region suggests a growing demand for golf-related services and equipment, including golf carts. Additionally, the rising tourism industry in the Asia Pacific region is likely to drive the need for golf carts in golf resorts and courses as more visitors engage in golfing activities. Overall, these factors contribute to the anticipation that the Asia Pacific region will have the highest growth rate in the golf cart market compared to other regions.
The number of on-course suppliers of golf equipment has declined by 19%, from 15,300 in 2007 to 12,400 in 2013 in the US.
The statistic indicates that there has been a significant decrease in the number of on-course suppliers of golf equipment in the United States over a 6-year period. Specifically, the decrease amounts to 19%, with the number of suppliers dropping from 15,300 in 2007 to 12,400 in 2013. This decline may be attributed to various factors such as changes in consumer preferences, shifts in the golf industry landscape, economic conditions impacting the purchasing power of consumers, or increased competition from online retailers. The reduction in the number of on-course suppliers suggests a changing market dynamic within the golf equipment industry during the specified time frame.
Golfers who play at least 25 rounds per year account for approximately 68% of all golf-related spending.
The statistic that golfers who play at least 25 rounds per year account for approximately 68% of all golf-related spending suggests a concentration of economic activity within this subset of golfers. This finding implies that a significant portion of revenue generated by the golf industry comes from a relatively small group of dedicated players who engage in a high frequency of rounds throughout the year. This could have implications for marketing strategies within the industry, highlighting the importance of targeting and catering to the needs and preferences of this core group of golf enthusiasts to maximize revenues and drive growth in the golf sector.
Conclusion
The global golf industry continues to thrive, with an increasing number of participants and growing revenues. These statistics highlight the widespread popularity of golf and the significant economic impact it has worldwide. As the industry evolves and adapts to new trends and technologies, the future looks promising for golf enthusiasts and businesses alike.
References
0. – https://www.www.ngf.org
1. – https://www.www.cnbc.com
2. – https://www.www.statista.com
3. – https://www.www.grandviewresearch.com
4. – https://www.www.randa.org
5. – https://www.www.wilson.com
