Golf Club and Sets Market size reached USD 4.85 billion in 2030

Golf Club and Sets Market size reached USD 3.81 billion in 2023 and is expected to reach USD 5.04 billion by 2030, growing at a CAGR of 4.1% during the forecast period.

Golf is a sport that is popular among business people because it is used to close business deals. The United States is the Country With the greatest golf popularity. Golf is played by around 56 million people around the world, including 26.7 million in the United States, 5.5 million in Europe, 5 million in Canada, 14 million in Japan, and 3.8 million in the United Kingdom. Golf clubs and sets are made up of various items that are required to play the sport of golf and are also important in giving the player an enhanced experience.

Golf balls, golf shoes, golf clubs, and other tools such as wedges and putters are all included in golf clubs and sets. There are five types of clubs available, including wedges, woods, irons, hybrids, and putters. Wooden clubs are more popular among golfers than other types because they are utilized for long shots. Golf club manufacturers use a variety of fabrication techniques to provide a lightweight yet durable product that fulfills professional golfing standards.

The key factors driving the Golf Club and Sets Market include rising consumer disposable income, an increase in professional and amateur female golfers, and the growing trend of golf tourism as a result of the construction of golf courses all across the world. India and China have the world’s largest emerging Golf Club and Sets markets. The Golf Club and Sets industry in Asia Pacific has taken off with rising income and more visitors. These countries already attracted large numbers of tourists, and have seen the need to serve increasing members in countries. Furthermore, golfers expect more Asian golf brands to increase the revenue in Golf Club and Sets market.To know about the Research Methodology :- Request Free Sample Report
Golf Club and Sets Market Dynamics:
The emerging trend of golf tourism because of the presence of numerous golf courses across the world

One of the global trends has been the increased investment in golf to boost the number of foreign visitors and enhance tourism revenue. Golf has spread globally and the number of world-class golf courses has been continuously increasing over the years. Golf tourism is growing in popularity especially in countries like Thailand and Japan in recent years. The Gulf Cooperation Council (GCC) and Caribbean countries have become popular golf tourism destinations because of the availability of modern and advanced facilities. The increasing government support for the promotion of golf tourism is expected to drive the growth of the Golf Club and set the market during the forecast period.

Many golf courses have started to offer nighttime golf games in recent years, and this has generated a lot of interest. This trend is expected to continue in 2022, as more golf courses start this year with evening golf game options. There are over 32,000 golf courses in 140 countries around the world. Spain, North America, and Portugal are all popular golf tourist destinations. Over half of the world's golf courses (17,000) are in the United States, with Europe accounting for about 6,000.

Many golf courses are focused on the environmental effect of their course management techniques and shifting to more sustainable options. One of the most noticeable trends in golf is a growing push to move towards short events, where players play only 9 holes rather than a full round. More individuals are attracted to shorter courses and the ability to play fewer holes because of job and family responsibilities.



Increased Number of Golfers across the world

The number of total golfers globally has increased from 61 million to 66.6 million in the last five-year growth period. Asia has already become a hub for the women’s professional game, and much of the growth in participation across the world is coming from women. This will lead to changes in the facilities that clubs and courses provide to their members—and create a platform for golf as a family game. A third of all golfers in the United States are now millennials, which may be a shock to the golfing industry given the sport's strong popularity among middle-aged and older populations. In 2022, nearly 16.2 million millennials showed an interest in playing golf.

During COVID-19 Pandemic, more women were showing interest in golf than ever before, and this trend is expected to continue during the forecast period. According to NGF, the number of female golfers increased by 458,000 in 2021 to 6 million female golfers. More LPGA events are scheduled for 2022 than any before in the history of women's golf. The net prize fund from these 34 tournaments is $87.5 million, which is the largest ever in history. This is amazing news for the future of golf since it means that the sport is diversifying gender demographics and becoming a more inclusive sport that can be enjoyed by a wide range of people. Therefore, the market is expected to grow during the forecast period.

Increasing e-commerce Platforms

E-commerce is a massive platform that is growing rapidly around the world. Consumers of all ages, including generation X, millennials, and generation Z, prefer to purchase online. This is due to the increased number of shops focused on e-commerce, making it more convenient for consumers. Furthermore, an increase in internet penetration and a rise in the percentage of the population inclined toward online shopping are expected to provide potential Golf Clubs and Set Market Opportunities for manufacturers to sell their existing as well as novel products through online platforms, making them easily accessible to consumers and increasing consumer awareness.

Key industry players in the Golf Club and Sets Market use a variety of marketing methods to promote their products to clients. New product releases, celebrity endorsements, collaborations, and social media marketing are just a few of the strategies used by the top companies in the Golf Club and Sets Industry. As a consequence, the market is likely to benefit from new and innovative marketing strategies as well as increased demand for golf clubs and sets.

Market Restraint :

Consumer preferences towards other outdoor sporting activities are expected to hamper the market growth. High-intensity sports, such as cricket, volleyball, football, and basketball, have grown in popularity due to their ability to improve health and fitness. Other important issues expected to limit market growth are unfavorable weather conditions and high equipment costs.

The costs of building golf courses are also high. Thus, the lack of infrastructure in most poor and developing nations globally hinders the growth of Golf Clubs and Sets Market.
Golf Club and Sets Market Segment Analysis:
Based on the Application, the leisure segment is expected to hold the largest market share in 2023. One of the major drivers of this rise is the desire for a healthy lifestyle and a better way of living. It has significantly boosted the market potential for athletic and recreational equipment. Sports equipment and products used for pleasure and leisure have increased in response to growing interest in physical fitness and overall wellness. Products that are particularly created to meet the requirements and expectations of potential consumers, athletes, and gym personnel are now in high demand. As a result, prominent market suppliers are now putting a strong emphasis on creating products and equipment for sports and leisure that are specially adapted to the needs of the customer.

Based on Type, the putter segment dominated the market in 2023. According to most golfers, the putter is the most used golf club and is used for roughly 53% of shots. A putter is the type of club that most golfers use to finally hit the ball into the cup on every hole. The club's face is flat (or almost so), and it is designed to push the ball forward rather than lift it from the ground and into the height.

Based on the Distribution Channel, the specialty stores segment dominated the global Golf Club and Sets market. Manufacturers are constantly working to increase the shelf visibility of their products and they are mainly targeting specialty stores. specialty retailers also offer a wider range of golf sets. Furthermore, they provide options such as discounts as well as the benefit of quick satisfaction, resulting in the rise of the golf clubs & sets market during the forecast period.
Golf Club and Sets Market Regional Insights
The U.S. Golf Club and Sets market revenue is expected to grow at a CAGR of 7.8% during the forecast period. The United States is home to the golfers who have the most major championships. Jack Nicklaus and Tiger Woods are from the United States, and the PGA Tour is also made up of American golfers. For these reasons, the United States comes at the top of the list when it comes to golf popularity. MMR study found that the United States is disproportionately the country with the most golf courses, approx. 17,000 courses at the end of 2022.

Golf is hugely popular in the US and there are major organizations such as the United States Golf Association and the Professional Golfers’ Association of America that organize and hold various professional golf competitions. The above-mentioned factors are expected to boost the Golf Club and Sets Market demand during the forecast period.

In the United Kingdom region, the Golf Clubs and Sets are expected to increase at a modest rate throughout the forecast period. Golf is a popular sport in the United Kingdom, especially in England and Scotland, where there are over 2,000 golf courses and wagers are frequently placed on games and competitions. In Scotland, around 20,000 people work in the golf industry. Golf is important to the majority of employment in Scotland. As a result, the golf sector generates about $466 million in wages each year. This statistic displays the annual sales of golf clubs and sets made by manufacturers in the United Kingdom (UK). In 2022, UK manufacturers sold nearly 170 million British pounds worth of golf clubs and Sets.
Report Scope:
The Golf Club and Sets market report determines the market share, size, current, and future trends, challenges, and forecast. It also assesses the Golf Club and Sets industry drivers, restraints, growth indicators, market dynamics, and risk. This report discusses business strategies as well as potential growth opportunities. It also offers a plethora of data on gross margin, SWOT analysis, CAGR, and prospects for the future of major key companies. This report segmented the market by Application, Type, Distribution Channel, and geographical location as well as the new techniques and manufacturing cost structures of the Golf Club and Sets market. The Report focuses on data on global market developments and the competitive landscape.
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Golf Club and Sets Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 3.81 Bn.


Forecast Period 2024 to 2030 CAGR:
4.1 %
Market Size in 2030:
US $ 5.04 Bn.


 Segments Covered:
by Application
1. Lesuire
2. Professional
3. Others


by Type
1. Woods
2. Irons
3. Hybrids
4. Wedges
5. Putters


by Distribution Channel
1. Specialty Stores
2. Sporting Goods Chain
3. On-course Shops
4. Online Stores
5. Others



Golf Club and Sets Market, by Region
 North America (United States, Canada and Mexico)
 Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
 Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
 Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
 South America (Brazil, Argentina Rest of South America)
Golf Club and Sets Market, Key Players are
1. Acushnet Holdings Corp.
2. Adidas AG
3. Amer Sports
4. Callaway Golf Company
5. PING
6. Sumitomo Rubber Industries, Ltd.
7. MIZUNO Corporation
8. Bridgestone Corporation
9. Studio B
10. Ben Hogan Golf Equipment Company
11. DICK'S Sporting Goods, Inc.
12. Dixon Golf, Inc.
13. Nike, Inc.
14. Sumitomo Rubber Industries, Ltd
15. Robin golf, Ping, Inc
16. Bettinardi Golf
17. Cobra Golf
18. Pen fold Golf Limited
19. McGregor Golf
20. Hippo Golf
21. Infiniti Golf

FAQs:

1. Who are the key players in the Golf Club and Sets market?
Ans. Pen fold Golf Limited, McGregor Golf, Hippo Golf, and Infiniti Golf are some of the market players in the Golf Club and Sets market.

2. Which Application segment dominates the Golf Club and Sets market?
Ans. The Leisure segment accounted for the largest share of the global Golf Club and Sets market in 2023.

3. How big is the Golf Club and Sets market?
Ans. The Global Golf Club and Sets market size reached USD 3.81 billion in 2023 and is expected to reach USD 5.04 billion by 2030, growing at a CAGR of 4.1% during the forecast period.

4. What are the key regions in the global Golf Club and Sets market?
Ans. Based On the region, the Golf Club and Sets Market has been classified into North America, Europe, Asia Pacific, Middle, East and Africa, and Latin America. The U.S. dominates the global Golf Club and Sets market.