The Latest Golf Equipment Industry Statistics Explained
The global golf equipment market size is expected to reach $9.46 billion by 2027.
The statistic indicates that the global golf equipment market is forecasted to achieve a market size of $9.46 billion by the year 2027. This projection suggests significant growth and demand in the golf equipment industry over the coming years. Several factors such as increasing participation in golf, rising disposable income, advancements in technology, and innovative product offerings are likely to drive this growth. The statistic highlights the potential for expansion and opportunities in the golf equipment market for manufacturers, retailers, and other stakeholders within the industry.
In Asia, the number of golfers grew from 48 million in 1995 to 60 million in 2023.
The statistic states that the number of golfers in Asia increased from 48 million in 1995 to 60 million in 2023. This indicates a positive trend of growth in the popularity of golf as a recreational sport in the Asian region over the span of almost three decades. The increase of 12 million golfers reflects a significant rise in interest and participation in the sport, potentially driven by factors such as economic development, increased leisure time, and the expansion of golf facilities and opportunities. This growth in the number of golfers suggests a thriving golf industry in Asia and highlights the sport’s enduring appeal and widespread adoption across the continent.
Europe has the second largest market for golf equipment after North America, accounting for a 22.3% share in 2018.
The statistic indicates that Europe holds the second-largest market share for golf equipment globally, following North America. With a market share of 22.3% in 2018, Europe represents a significant portion of the golf equipment industry. This suggests that there is a substantial demand for golf-related products and services in Europe, creating lucrative opportunities for businesses operating in the region. The data highlights the popularity and economic significance of the golf industry in Europe, emphasizing the region’s contribution to the global market for golf equipment.
The golf equipment industry grew by 2.2% in 2019.
The statistic indicates that the golf equipment industry experienced an overall growth rate of 2.2% in 2019 compared to the previous year. This growth signifies an increase in sales revenue, production output, or market demand within the industry. A 2.2% growth rate suggests that the industry is expanding, which could be influenced by factors such as increased consumer interest in golf, technological advancements in equipment, or successful marketing strategies by industry players. This statistic is important for stakeholders in the golf equipment industry as it highlights the overall health and performance of the sector during the specified period.
The U.S. proved to be the largest market for golf equipment, accounting for 35.6% share in 2018.
This statistic indicates that in 2018, the United States was the dominant market for golf equipment, holding a significant share of 35.6%. This suggests that the U.S. consumer base has a strong demand for golf-related products, likely driven by factors such as the popularity of golf as a recreational activity, the presence of a large number of golf courses and clubs in the country, and the overall interest in the sport. With such a substantial market share, companies in the golf equipment industry may prioritize targeting and catering to American consumers to capitalize on this lucrative market opportunity.
Golf clubs accounted for more than 50% of the overall revenue of 2019.
The statistic “Golf clubs accounted for more than 50% of the overall revenue of 2019” indicates that the sales generated from golf clubs made up the majority of the total revenue earned in the year 2019 for the particular business or industry being analyzed. This suggests that golf clubs were a significant driver of revenue during that period. The statistic highlights the importance and popularity of golf clubs in the market, signaling a strong demand for these products. It also implies that the business may have a successful product line or effective marketing strategies specifically for golf clubs that have contributed significantly to their overall financial performance in 2019.
Golf apparel is set to be the fastest-growing segment with a CAGR of 2.8% from 2020 to 2027.
This statistic indicates that the golf apparel market is expected to experience significant growth over the period from 2020 to 2027, with a Compound Annual Growth Rate (CAGR) of 2.8%. This means that on average, the market is projected to grow by 2.8% annually during this timeframe. The forecast suggests that consumer demand for golf apparel is likely to increase steadily, leading to a positive trajectory for the industry. Factors such as growing popularity of golf as a recreational and professional sport, evolving fashion trends in golf attire, and increasing participation rates are likely contributing to the anticipated growth in this segment. Overall, this statistic highlights the potential for expansion and opportunities within the golf apparel market in the coming years.
The online distribution channel is expected to witness the fastest growth with a CAGR of 3.2% from 2020 to 2027.
This statistic indicates that the online distribution channel is forecasted to experience significant growth with a compound annual growth rate (CAGR) of 3.2% from the year 2020 to 2027. This suggests that the online distribution channel is poised to outperform other distribution channels in terms of growth rate during this period. The increasing trend towards online shopping and e-commerce, as well as advancements in technology and changing consumer behavior, are likely factors contributing to this anticipated growth. This projection can be useful for businesses and stakeholders in the distribution industry to strategically focus on enhancing their online presence and capabilities to tap into this growing market segment.
The global golf ball market is poised to grow by $ 120.36 million during 2019-2023.
This statistic indicates that the global golf ball market is expected to experience a growth of $120.36 million within the period of 2019 to 2023. This growth suggests an increasing demand and expansion of the market for golf balls worldwide over the specified time frame. Factors such as rising popularity of golf as a sport, increasing disposable income of consumers, and technological advancements in golf ball manufacturing could potentially drive this growth. The projected expansion of the global golf ball market signifies opportunities for industry players to capitalize on this growth trend and cater to the evolving needs and preferences of golf enthusiasts.
North America is dominating the golf equipment and accessories market with over 33% market share.
The statistic “North America is dominating the golf equipment and accessories market with over 33% market share” indicates that North America holds a significant portion of the market compared to other regions. This suggests that North America is a key player in the golf industry, with a strong presence in the sales and distribution of golf equipment and accessories. The high market share of over 33% signifies that North America has a competitive advantage in this market segment, potentially due to a large customer base, strong marketing strategies, or extensive product offerings. Overall, this statistic highlights North America’s leading position in the golf equipment and accessories market.
Titleist, TaylorMade, Callaway, and Cleveland/ Srixon collectively held 70% of the total golf balls purchased in U.S. in 2018.
The statistic indicates that the four major golf ball manufacturers – Titleist, TaylorMade, Callaway, and Cleveland/Srixon – collectively accounted for 70% of all golf balls purchased in the United States in 2018. This dominance highlights the strong market presence and popularity of these brands among consumers. The data suggests that a significant majority of American golfers prefer and trust these well-established and reputable manufacturers when it comes to purchasing golf balls. This information is important for understanding the competitive landscape within the golf ball industry and can be valuable for businesses looking to enter or expand their presence in the market.
China and India are expected to grow at higher rates in the golf equipment industry in the next five years.
The statement indicates that the economies of China and India are forecasted to experience higher growth rates within the golf equipment industry over the next five years compared to other countries. This could be attributed to factors such as rising disposable incomes, increasing interest in sports and leisure activities, and a growing middle-class population in these countries. The expected growth suggests that there will likely be an increasing demand for golf equipment in China and India, presenting potential opportunities for manufacturers, retailers, and other stakeholders in the industry to expand their operations and capitalize on these emerging markets.
183,500 golf equipment and apparel users were recorded in UK as of 2020.
The statistic states that as of 2020, there were 183,500 users of golf equipment and apparel in the UK. This figure represents the number of individuals who engage in the sport of golf and have purchased related equipment and clothing. The data suggests a significant presence of golf enthusiasts in the UK market, indicating a demand for golf-related products and services. This information can be useful for businesses in the golf industry, such as equipment manufacturers, retailers, and golf courses, to understand the size of their target market and tailor their marketing strategies accordingly to appeal to this user base.
More than 70% of the market share putters is dominated by Odyssey, PING, and Scotty Cameron.
The statistic suggests that the market for putters is largely controlled by three major brands – Odyssey, PING, and Scotty Cameron – collectively holding more than 70% of the market share. This means that a significant majority of consumers who purchase putters prefer products from these three well-established brands over other competitors. The domination of market share by these brands indicates their strong presence, reputation, and popularity among golfers, highlighting their success in meeting customer needs and desires in the putter market.
24% of people who bought golf products online did so through Amazon in 2017.
The statistic “24% of people who bought golf products online did so through Amazon in 2017” indicates that nearly a quarter of all individuals who made online purchases of golf products in 2017 chose Amazon as their preferred platform. This figure highlights Amazon’s significant market share within the online golf product retail sector for that particular year. The statistic suggests that Amazon was a popular choice among consumers for buying golf products online, potentially due to factors such as competitive pricing, wide product selection, convenience, and trust in the platform’s reputation. Additionally, this data point can be valuable for golf product retailers, manufacturers, and Amazon itself in understanding consumer preferences and market trends within the online retail environment.
In 2020, sales of golf clubs in the United States brought in around 2.81 billion U.S. dollars.
The statistic states that in 2020, the total sales generated from the purchase of golf clubs in the United States amounted to approximately 2.81 billion U.S. dollars. This figure reflects the significant economic activity within the golf industry in the U.S. during that year, indicating the popularity and financial scale of golf club sales. The statistic provides insight into consumer behavior and preferences, as well as the overall health of the golf equipment market. Analyzing trends in golf club sales can offer valuable information for industry stakeholders, including manufacturers, retailers, and investors, to make informed decisions and strategic plans moving forward.
The top golfvclub manufacturers in the world (Callaway Golf, Titleist, TaylorMade, PING, and Cobra Golf) bring in more than $2.5 billion in revenue a year.
The statistic indicates that the top golf club manufacturers in the world, including Callaway Golf, Titleist, TaylorMade, PING, and Cobra Golf collectively generate an annual revenue surpassing $2.5 billion. This figure underscores the substantial financial success and market dominance of these key companies in the global golf equipment industry. The revenue generated by these manufacturers highlights the significant demand and consumer preference for their products, signaling their strong brand reputation, product quality, and effective marketing strategies. Additionally, the statistic suggests that these top manufacturers play a critical role in shaping the competitive landscape of the golf equipment market, further solidifying their position as leaders in the industry.
In 2020, 45.2% of golfers in the US were aged between 18 and 39 years.
The statistic stating that 45.2% of golfers in the US were aged between 18 and 39 years in 2020 suggests that nearly half of the golfing population in the country falls within the young to middle-aged demographic range. This information highlights the significant representation of younger generations in the sport of golf, which is often perceived as being popular among older individuals. The statistic may indicate a shift in the demographics of golfers or could reflect efforts to attract a younger audience to the sport through various marketing strategies or initiatives. Understanding the age distribution of golfers is essential for tailoring marketing campaigns, designing golf courses, and developing initiatives that cater to the specific needs and preferences of different age groups within the golfing community.
About half of the 2.2 million beginning golfers in 2018 were female.
The statistic “About half of the 2.2 million beginning golfers in 2018 were female” indicates that gender distribution among newly introduced golf players in 2018 was relatively balanced, with women comprising approximately half of the total. This suggests a growing interest and participation of females in the sport of golf. The statistic highlights a positive trend towards greater gender inclusivity in golf and may reflect efforts made by the golfing community to attract and retain female players. Such balanced representation could lead to a more diverse and inclusive golfing community, paving the way for increased opportunities and visibility for female golfers in the sport.
The US exports nearly half a billion dollars’ worth of golf equipment each year.
The statistic indicates that the United States is a significant player in the global golf equipment market, exporting a substantial amount of golf-related products annually. The value of nearly half a billion dollars suggests a thriving industry with a high demand for American-made golf equipment internationally. This statistic highlights the economic importance of the golf industry for the US economy, showcasing the country’s ability to not only meet domestic demand but also compete and succeed in the global market.Overall, this statistic underscores the strength and competitiveness of the US golf equipment sector on a global scale.
References
0. – https://www.www.technavio.com
1. – https://www.www.census.gov
2. – https://www.www.statista.com
3. – https://www.www.grandviewresearch.com
4. – https://www.www.mordorintelligence.com
