Golf is a growing sport, with participation rates increasing in recent years. This is due in part to the increasing popularity of the sport among women and younger players. In the United States, for example, the number of women playing golf has increased by 50% since 2000. And the number of young people playing golf has increased by 25% since 2010. The number of golf courses being built around the world is also increasing. This is due in part to the growing popularity of golf, as well as the increasing disposable income of consumers. In the United States alone, golf courses have increased by 10% since 2010.
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Global Golf Apparel, Footwear, and Accessories Market was valued at USD 9,852.19 million in 2021 and is expected to reach USD 13,692.25 million by 2029, registering a CAGR of 4.20% during the forecast period of 2022-2029. There are many market drivers are expected to continue to fuel the growth of the global market, such as the growing popularity of golf, particularly among women and younger players, the increasing number of golf courses being built around the world and growing popularity of online shopping, which makes it easier for consumers to purchase golf apparel and footwear from anywhere in the world.
Growing personal disposable income and increasing online shopping is expected to drive the market's growth rate
The rising disposable income of consumers is another factor that is driving the growth of the global golf apparel, footwear, and accessories market. As consumers have more money to spend, they are more likely to spend it on luxury items like golf apparel and footwear. The growing popularity of online shopping is also a factor that is driving the growth of the global golf apparel, footwear, and accessories market. Online shopping makes it easier for consumers to purchase golf apparel and footwear from anywhere. This is particularly beneficial for consumers who live in areas where there are not many golf shops. This will drive the market growth rate.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014- 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Men Apparel, Women Apparel, Footwear, Accessories), Distribution Channel (Store Based Retail, and Online Retail), Demographics (Men, Women, Kids), Price Range (Economy, Mid Range, Premium, Super Premium)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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TaylorMade Golf Co (U.S.), Acushnet Holdings Corp (U.S.), KERING (France), RALPH LAUREN (U.S.), Decathlon (France), FILA HOLDING CORP (South Korea), YONEX CO LTD. (Japan), DUCA DEL COSMA (Netherlands), Nike Inc. (U.S.), Under Armour Inc. (U.S.), ASICS Corporation (Japan), Amer Sports (Finland), Mizuno Corporation (Japan), Adidas AG (Germany), Sumitomo Rubber Industries Ltd. (Japan), Bridgestone Golf Inc. (U.S.), and COBRA GOLF (U.S.)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour
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Segment Analysis:
The global golf apparel, footwear, and accessories market is segmented into four notable segments based on the product, distribution channel, demographics, and price range.
- On the basis of product, the global golf apparel, footwear, and accessories market is segmented into men apparel, women apparel, footwear, accessories, and others. Footwear is expected to dominate the global golf apparel, footwear, and accessories market with a 36.82% share as shoes and other footwear are highly lucrative products in these sports. Footwear are very important in sports, and the players emphasize not compromising on the quality of footwear.
- On the basis of distribution channel, the global golf apparel, footwear, and accessories market is segmented into store-based retailers, online retailers, and others. Online retail is expected to dominate the global golf apparel, footwear, and accessories market with a 78.14% share. Online channels and platforms are gaining momentum and prominence among customers looking to buy golf products and apparel. The online channel has enabled the market players to expand their reach among customers.
- On the basis of demographics, the global golf apparel, footwear, and accessories market is segmented into men, women, and kids. Men is expected to dominate the global golf apparel, footwear, and accessories market with a 73.42% share as the ratio of men involved in sports compared to kids and women is relatively higher.
The men segment will dominate the demographics segment of the golf apparel, footwear, and accessories market
The men segment will emerge as the dominating segment under demographics. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, the growth and expansion of the FMCG industry all around the globe will further bolster the growth of this segment.
- On the basis of the price range, the global golf apparel, footwear, and accessories market is segmented into the economy, mid-range, premium, and super premium. Mid-range is expected to dominate the global golf apparel, footwear, and accessories market with a 49.00% share as most product categories offered by the market players fall in this range. Mid-range products are also preferred among customers of every social class as they are affordable and not so low on quality.
The mid-range segment will dominate the price range segment of the golf apparel, footwear, and accessories market
The mid-range segment will emerge as the dominating segment price range segment. This is because of the growing number of FMCG players, especially in developing economies. Further, the growth and expansion of research development services on a global scale will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players: Skyline Champion Corporation (U.S.), Nestron (Singapore), The Tiny Housing Co. (U.K.), THE QUBE (Australia), TIMBERCARAFT TINY HOMES (U.S.), CargoHome (U.S.), ATLAS VANS (U.S.), Oregon Cottage Company (U.S.), Tiny Home Builders (U.S.), Tiny SMART House, Inc. (U.S.), Tumbleweed Tiny House Company (U.S.), New Frontier Tiny Homes (U.S.), Mustard Seed Tiny Homes LLC (U.S.), MAVERICK TINY HOMES, LLC (U.S.), California Tiny House (U.S.), American Tiny House (U.S.).
Market Development
- In December 2020, KERING Company opened a new operation centre in Wayne, New Jersey, USA. This new operation centre assisted the corporation in expanding its activities. It also contributed to the footwear market growth in North America and the United States. The corporation intends to expand its business operations in other parts of the world, and these actions will put the company in a better position in the future.
- In 2021, Decathlon Company became an official partner of the Paris 2024 Olympic and Paralympic Games in July. This collaboration will assist the corporation in selling its products via radio, social media impact, and numerous marketing tactics. These marketing methods will assist the corporation in expanding its golf product business, and the worldwide golf apparel and accessories industry will eventually increase at a rapid pace.
- In 2021, FILA HOLDING CORP unveiled the new 110th-anniversary collection in February. A company's sale is boosted by innovation and the debut of a new product. These innovations and collections help the brand gain market share while also contributing to the growth of the worldwide golf apparel, footwear, and accessories market.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the golf apparel, footwear, and accessories market during the forecast period 2022-2029
North America is the largest golf apparel, footwear, and accessories market, accounting for a major share of the global market. This is due to the high popularity of golf in the region, and the presence of a large number of golf courses and clubs.
Asia-Pacific is estimated to be the fastest-growing region in the golf apparel, footwear, and accessories market in the forecast period 2022-2029
Asia-Pacific is expected to be the fastest-growing market. Asia-Pacific is the third largest golf apparel, footwear, and accessories market. This is due to the rising disposable incomes in the region, and the growing popularity of golf among the middle class.
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