In the world of sports fashion, the golf apparel industry stands out for its unique blend of style and functionality. As golf continues to grow in popularity around the globe, the demand for high-quality and fashionable golf attire is on the rise. In this blog post, we will explore the latest statistics and trends in the golf apparel industry, shedding light on key insights that drive this dynamic market.
The Latest Golf Apparel Industry Statistics Explained
Global golf apparel market to expand at a CAGR of 4.3% between 2020 and 2030
The statistic “Global golf apparel market to expand at a CAGR of 4.3% between 2020 and 2030” indicates that the global market for golf apparel is projected to grow at a compound annual growth rate (CAGR) of 4.3% over the period spanning from 2020 to 2030. This growth rate suggests a steady increase in the demand for golf apparel worldwide over the next decade. Factors driving this growth could include an expanding global population of golf enthusiasts, increasing participation in the sport, evolving fashion trends within the golf industry, and innovations in material technology and design. The CAGR figure serves as a useful metric for investors, businesses, and industry analysts to assess the potential growth and attractiveness of the golf apparel market for strategic decision-making and planning purposes.
In 2019, the global golf apparel market size was valued at USD 4.79 billion
The statistic stating that in 2019 the global golf apparel market size was valued at USD 4.79 billion represents the total monetary value of sales within the golf apparel industry worldwide during that specific year. This figure encompasses the revenues generated from the sales of various golf-related clothing and accessories such as shirts, pants, shoes, hats, and more. The market size reflects the demand and consumption patterns of golf apparel on a global scale, highlighting the significant economic impact of the golf industry on the apparel sector. This data is indicative of the size and importance of the market to stakeholders such as manufacturers, retailers, and consumers, and provides insights into the overall health and growth potential of the golf apparel industry.
The U.S. golf apparel market is estimated to hit $3.4 billion in 2022
The statistic that the U.S. golf apparel market is estimated to reach $3.4 billion in 2022 indicates the projected total revenue generated from the sales of golf clothing and accessories within the United States for that year. This figure suggests a significant market size for golf apparel, reflecting the continued popularity and demand for such products. The estimate also implies potential growth opportunities for businesses operating within this market segment, prompting strategic considerations for companies looking to capitalize on this lucrative industry. Additionally, the statistic underscores the economic impact and consumer interest in the golf apparel sector, highlighting the importance of this market within the broader retail and sporting goods industry.
Men’s segment dominated the golf apparel market with a share of 67.7% in 2019
The statistic “Men’s segment dominated the golf apparel market with a share of 67.7% in 2019” indicates that nearly two-thirds of the market for golf apparel in 2019 was comprised of products targeted towards men. This suggests that men were the primary consumers of golf apparel during that year, holding a substantial majority of the market share compared to other demographic groups such as women or children. The dominance of the men’s segment suggests that companies and retailers in the golf apparel industry should focus on catering to the preferences and needs of male customers to effectively capitalize on this significant market segment.
70% of golf apparel sales come from online retail channels
The statistic that 70% of golf apparel sales come from online retail channels suggests that a significant majority of sales in the golf apparel industry are generated through online platforms rather than traditional brick-and-mortar stores. This trend highlights the growing popularity and convenience of online shopping for consumers in the golf apparel sector, likely influenced by factors such as the ease of browsing, broader selection of products, and the ability to compare prices across different retailers. The data indicates a shift in consumer preferences towards digital shopping experiences, emphasizing the importance for golf apparel companies to invest in their online presence and e-commerce capabilities to remain competitive and meet the evolving needs of their target market.
Off-course golf retail sales in specialty stores amounted to $2.2 billion in 2017
This statistic indicates that in 2017, specialty stores that cater to golfing equipment and gear generated an estimated $2.2 billion in retail sales related to off-course golf products. Off-course golf retail sales typically refer to transactions that occur outside of golf courses, such as at standalone stores or online retailers. The $2.2 billion figure reflects the total amount of revenue generated from the sale of golfing equipment, apparel, accessories, and other related items within the specialty store sector. This statistic highlights the significant consumer demand for golf-related products and the sizeable market present within the off-course retail segment of the golf industry.
The market share of women’s golf apparel was 32.3% in 2019 and is expected to grow
The statistic that the market share of women’s golf apparel was 32.3% in 2019 and is expected to grow suggests that women’s golf apparel has a significant presence in the market and is anticipated to continue expanding in the future. The 32.3% market share indicates that approximately one-third of all golf apparel sales were attributed to women’s products in 2019. The expectation of growth implies that there is a positive trend towards an increasing demand for women’s golf apparel, likely driven by factors such as shifting consumer preferences, marketing efforts, and potentially an increasing number of women participating in the sport. This statistic highlights the potential opportunities and importance of targeting the women’s segment within the golf apparel industry for future business strategies and growth.
The golf shirts segment had the highest share of 48.3% in the golf apparel market in 2019
The statistic indicates that the golf shirts segment held the largest portion of market share within the golf apparel market in 2019, accounting for 48.3%. This means that nearly half of the total sales within the golf apparel market were attributed to golf shirts. This information suggests that golf shirts were the most popular or in-demand category within the golf apparel market during that time period. Companies operating in the golf apparel industry can use this statistic to guide their marketing and product development strategies to capitalize on the popularity of golf shirts and potentially increase their market share within the industry.
The golf accessories segment is anticipated to witness a CAGR of 4.7% during 2020-2030
This statistic indicates that the golf accessories market is projected to experience a Compound Annual Growth Rate (CAGR) of 4.7% between the years 2020 and 2030. This suggests that the demand for golf accessories such as clubs, balls, bags, and apparel is expected to steadily increase at an average annual rate of 4.7% over the next decade. Factors such as a growing interest in golf, increasing disposable income levels, and advancements in technology within the industry may contribute to this positive growth trend. This statistic provides valuable insight to stakeholders in the golf industry, helping them anticipate and plan for future market trends and opportunities.
Europe with the market size of $1,118.5 million in 2017 is the second largest regional market for golf apparel
The statistic indicates that Europe had a market size of $1,118.5 million in 2017, making it the second largest regional market for golf apparel. This suggests that Europe represents a significant portion of the global market for golf apparel, with a substantial consumer demand for golf-related clothing in the region. The figure also highlights the economic value of the golf apparel industry in Europe, indicating the potential for growth and investment opportunities within this market segment. Overall, the statistic underscores the importance and competitiveness of the European market for golf apparel on a global scale.
The golf apparel market in Latin America is expected to expand with a CAGR of 3.9% from 2020 to 2030
The statistic indicates that the golf apparel market in Latin America is projected to grow at a Compound Annual Growth Rate (CAGR) of 3.9% from 2020 to 2030. This suggests a steady and consistent growth rate over the ten-year period, pointing towards an increasing demand for golf apparel in the region. The CAGR is a useful metric for assessing the average annual growth rate of a market, providing insights into the market’s potential expansion and opportunities for businesses operating within the golf apparel industry in Latin America. This growth rate could be driven by factors such as rising participation in golf, increasing disposable income levels, and changing consumer preferences towards sportswear and athleisure clothing.
Notable players in the golf apparel market include Nike, Under Armour, Adidas, and Puma
The statistic that notable players in the golf apparel market include Nike, Under Armour, Adidas, and Puma highlights the key companies that dominate the industry in terms of market share, brand recognition, and market influence. Nike, Under Armour, Adidas, and Puma are well-established global sports apparel companies known for their high-quality products, innovative designs, and endorsements from top athletes. In the golf industry, these companies have a strong presence with their golf-specific apparel lines that cater to both professional and amateur golfers. Their prominence in the golf apparel market signifies their strength in competition, marketing strategies, and commitment to providing athletes with performance-enhancing and stylish apparel options.
Nike had the largest share of golf apparel sales in the U.S. in 2017, at 19%
The statistic that Nike had the largest share of golf apparel sales in the U.S. in 2017, accounting for 19% of the market, indicates that Nike was the top-selling brand in terms of market share in the golf apparel industry that year. This suggests that Nike’s golf apparel products were popular and in high demand relative to its competitors, capturing almost one-fifth of the total sales in the U.S. golf apparel market. This data highlights Nike’s strength in the golf apparel sector during that specific timeframe, showcasing its ability to resonate with consumers and outperform other brands in the industry.
Forecast suggests the golf apparel market will reach $6.65 billion by 2027
The statistic indicates that based on current trends and analysis, the golf apparel market is projected to grow and reach a market value of $6.65 billion by the year 2027. This forecast suggests significant growth potential in the golf apparel industry over the coming years, driven by factors such as increasing popularity of the sport, evolving fashion trends in sportswear, and potentially expanding market opportunities. The predicted market size provides valuable insights for industry stakeholders, including manufacturers, retailers, and investors, to make informed decisions and strategic plans to capitalize on the growth opportunities in the golf apparel market.
Lower-priced golf apparel accounts for the largest market segment, approaching 40% of total sales
The statistic reveals that lower-priced golf apparel holds a significant share of the market, constituting nearly 40% of total sales in the industry. This suggests that a substantial portion of consumers prefer and purchase more affordable golf apparel options compared to higher-priced alternatives. The popularity of lower-priced golf apparel indicates a strong demand for budget-friendly products within the market, potentially driven by cost-conscious consumers, beginners looking for entry-level gear, or those seeking value for money. Understanding the dominance of lower-priced golf apparel in the market can help businesses tailor their marketing strategies, product offerings, and pricing strategies to effectively target and cater to this sizable segment of consumers.
The U.S. golf apparel retail market reported sales of approximately $3.6 billion in 2016
The statistic “The U.S. golf apparel retail market reported sales of approximately $3.6 billion in 2016” indicates the total revenue generated from the sales of golf apparel in the United States during the year 2016. This figure of $3.6 billion represents the collective amount spent by consumers on various golf-related clothing items such as shirts, pants, jackets, shoes, and accessories. The statistic highlights the significant size and economic importance of the golf apparel retail market in the U.S., showing the demand and consumption patterns within the industry. These sales figures serve as a key metric for assessing the performance and growth of the golf apparel sector and provide valuable insights for businesses, policymakers, and investors operating in the market.
Size of golf apparel markets in Europe and the United States put together will top $3.5 billion by 2021
This statistic implies that the combined market value of golf apparel in Europe and the United States is projected to surpass $3.5 billion by the year 2021. This signifies a significant market size and economic impact within the golf apparel industry across these regions. The expected growth in market value could be driven by factors such as increasing participation in golf, evolving fashion trends in sports apparel, and the influence of professional golf players on consumer preferences. The statistic indicates a lucrative market opportunity for companies operating in the golf apparel sector, emphasizing the potential for revenue generation and business expansion in both European and American markets.
The retail value of golf apparel in China is expected to reach $1.41 billion by 2025
The statistic indicates that the retail value of golf apparel in China is projected to increase to $1.41 billion by the year 2025. This suggests a significant growth in the market demand and consumption of golf apparel within China. The forecasted rise in spending on golf apparel reflects a growing interest in the sport of golf within the Chinese market, potentially driven by factors such as increasing disposable income, changing lifestyle trends, and the promotion of golf as a popular leisure activity. This statistic serves as an important indicator for companies operating in the golf apparel industry, signaling potential opportunities for business growth and market expansion in China in the coming years.
References
0. – https://www.www.grandviewresearch.com
1. – https://www.www.marketresearchfuture.com
2. – https://www.www.researchnester.com
3. – https://www.www.factmr.com
4. – https://www.www.statista.com
5. – https://www.www.reportsanddata.com
6. – https://www.golfincmagazine.com
7. – https://www.www.prnewswire.com
