Golf Club and Sets Market Thumbnail Image

2022

Golf Club and Sets Market

Golf Club and Sets Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, By Application, By Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2022-2031

CG : Sports, Fitness and Leisure

Select an option
Author's: Samriddhi Chauhan | Roshan Deshmukh
Publish Date:

Get Sample to Email

The global Golf Club and Sets Market Size was valued at $3.4 billion in 2021, and is projected to reach $4.9 billion by 2031, growing at a CAGR of 3.9% from 2022 to 2031.

Golf Club and Sets Market

Golf is a sports activity popular among business individuals as it is used as a means to offer closure of business deals. Golf clubs & sets consist of various items that are essential to play the sport of golf, and are also crucial in providing an enriched experience to the player. Golf clubs & sets include golf balls, golf shoes, golf clubs, and other aids such as wedges and putters. The key factors that fuel the Golf Club and Sets Market are increasing consumers’ disposable income, growth in professional and amateur female golfers, and the trend of golf tourism, owing to the setup of golf courses across the world. However, factors such as busy work schedules leading to a lack of any leisure activity and high membership costs resulting in lower registrations impede the growth of the market.

The emerging trend of golf tourism due to the presence of numerous golf courses across the world, the increase in the middle-class population, and the growth in the number of professional and amateur female golfers drive the market growth. The Gulf Cooperation Council (GCC) and Caribbean countries have become popular golf tourism destinations, owing to the availability of modern and advanced facilities. Golf is an expensive outdoor recreation activity that is popular among business individuals and amateur players.

The investments required for the construction of golf courses are high. Thus, the lack of infrastructure in most of the underdeveloped and developing economies globally restrains the growth of the Golf Clubs and Sets Market. Moreover, the rise in popularity of alternate sports & leisure activities among end users and seasonal attributes of golf are expected to adversely impact the market during the Golf Club and Sets Market Forecast period.

In addition, the growth of e-sports is hampering the market growth. Electronic sports, sometimes known as "e-sports," are forms of competitive gaming where players compete against one another. This frequently entails working in teams to accomplish the objective. In addition, e-sports, a sort of gaming, have swept the globe. In a relatively short period of time, a plethora of e-sports competitions, sponsors, investors, teams, and fans have emerged, each with substantial prize pools, significant investment sums, and millions of followers worldwide.

Furthermore, participation rates in conventional sports like football, baseball, hockey, and soccer have been steadily declining over the past number of years. The key factor affecting this is the changing population. Traditional sports are less appealing to the newest generation, Generation Z. They spend too much time playing these sports, which are dull to the majority of people and don't accurately reflect who they are. As a result, non-traditional sports including e-sports, adventure sports, and variations of already popular sports are currently developing faster than traditional sports.

E-commerce or online store is a huge platform growing at a tremendous rate worldwide. Consumers of every age, including generation X, millennials, or generation Z prefer to shop from e-stores. This is attributed to the fact that online shopping is more convenient as compared to shopping at physical stores, due to the rise in the number of retailers focusing on e-commerce, thus making it convenient for consumers. Furthermore, an increase in penetration of the internet and a rise in the percentage of the population inclining toward online shopping are expected to provide potential Golf Clubs and Set Market Opportunities for the manufacturers to sell their existing as well as novel products through online platforms, thus making them easily available for consumers and increasing consumer awareness about their products.

The Golf Club and Sets Market has witnessed growth owing to an increase in golf tourism. According to the International Association of Golfing Tour Operators (IAGTO), the global golf tourism market was valued at more than $17 billion in 2018, out of which the U.S. is reported to be the largest Golf Club and Sets Industry in terms of golf as a sport. However, the rising middle-class population and investments in infrastructure in Asia-Pacific drive the golf sector, thereby supplementing the global golf clubs & sets market.

The COVID-19 pandemic had a negative impact on the Golf Clubs and Sets Market growth. The Golf Club and Sets Market Demand has declined in the market as a result of the pandemic and travel restrictions have severely damaged the Golf Club and Sets Market’s distribution channel system globally. The lockdown has harmed workforce and resource availability, affecting the golf clubs & sets the industry’s scale of production. The supply channel system for golf clubs & sets has been harmed as a result of transportation constraints.

Key market players in the Golf Club and Sets Market adopt a number of marketing strategies to promote products among customers. New product launches, celebrity endorsements, partnerships, and social media marketing are a few of the strategies implemented by the top companies in the Golf Club and Sets Industry. As a result, the market is expected to benefit from new and innovative marketing methods and rising demand for golf clubs & sets.

Several occurrences in 2021 heralded significant power shifts in collegiate athletics that will take place over the next ten years. All Division I sport now fall under the NCAA's one-time transfer exception, allowing student-athletes in more well-known sports to switch institutions without missing a season. The NCAA created temporary regulations so that all student-athletes can benefit from the opportunities that arise when some states approved legislation allowing college athletes to make money off of their name, image, and likeness (NIL). Finally, a number of colleges said that they will switch athletic conferences during the following few years. Therefore, rising the market for a golf clubs in the process.

The golf clubs & sets market is segmented on the basis of type, application, distribution channel, and region. By product type, the market is categorized into woods, irons, hybrids, wedges, and putters. In terms of application, it is divided into leisure, professional and others. On the basis of distribution channels, the market is classified into specialty stores, sporting goods chains, on-course shops, online stores, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Golf Club and Sets Market
By Type
Your browser does not support the canvas element.

Irons segment dominated the global market in 2021 and is likely to remain dominant during the forecast period.

On the basis of type, the irons segment had the dominating Golf Club and Sets Market Size in 2021. A standard, off-the-shelf set of irons will consist of 8 clubs in total, from a 3-iron to a pitching wedge (advertised as "3-PW"). Except for the pitching wedge, which will have a "PW" or "P," each club is marked with a number (3, 4, 5, etc.). 2-iron and other wedges may be available for separate purchase among other irons (gap wedge, sand wedge, lob wedge).

Golf Club and Sets Market
By Application
Your browser does not support the canvas element.

Lesuire segment dominated the global market in 2021 and is likely to remain dominant during the forecast period.

On the basis of application, the leisure segment has the dominating Golf Club and Sets Market Share in 2021. One of the main causes of this increase can be ascribed to the desire for a healthier lifestyle and better living. It has thus increased the market potential for sporting and recreational equipment. Sports equipment and items used for pleasure and leisure have seen an increase in response to rising interest in physical fitness and overall wellness. Products that are specifically designed to satisfy the needs and expectations of potential customers, athletes, and gym staff are now in demand. Due to this, top market vendors now place a strong emphasis on creating products and equipment for sports and leisure that are specifically tailored to the needs of the consumer.

Golf Club and Sets Market
By Distribution Channel
Your browser does not support the canvas element.

Specialty Stores segment dominated the global market in 2021 and is likely to remain dominant during the forecast period.

On the basis of distribution channel, the specialty stores segment dominated the global market in 2021. Manufacturers are continuously making efforts to increase the shelf visibility of their products, and hence they are majorly targeting specialty stores. As a result, wider varieties of golf sets are available in specialty stores. Moreover, specialty stores provide options such as discounts as well as the benefit of immediate gratification, which results in the growth of the golf clubs & sets market. First-time buyers of golf clubs may seek help while choosing the product, trained staff from the specialty store helps buyers with explaining every detail of the product and advising appropriate items. This makes buyers to prefer specialty stores and boosts the growth of the specialty store market.

Golf Club and Sets Market
By Region
2031
North America 
Europe
Asia-Pacific
LAMEA

North America region dominated the global market in 2021 and is likely to remain dominant during the forecast period.

On the basis of region, North America dominated the global market in 2021. The majority of the golfers reside in the North America region. The demand is being driven by lifestyle changes and increased urbanization in the region. Due to rise in consumer preference for extravagant life, the North American market is expected to have a considerable Golf Club and Sets Market Share. Other significant factors expected to increase the target market’s growth include the desire to spend more on quality products and a high level of disposable income. Consumer preferences for recreational activities are fueling the market growth for golf clubs & sets in the North America. The top suppliers of golf clubs & sets in the North America region are Bailey & Izlet Inc., Wittek Golf Supply, Thomas Golf, and Matzie.

According to the market players, the major obstacle attributed to the pandemic was the disruption of the supply chain. Furthermore, all the Distribution Channel were nearly shut down in the first quarter of the pandemic. However, online channels such as Amazon and Flipkart were delivering the products. The key players included in the racket sports equipment market analysis are Acushnet Holdings Corp., Adidas AG, Amer Sports, Bridgestone Corporation, Callaway Golf Company, DICK'S Sporting Goods, Inc., Dixon Golf, Inc., Nike, Inc., Sumitomo Rubber Industries, Ltd, Robin golf, Ping, Inc, Bettinardi Golf, Cobra Golf, Pen fold Golf Limited, McGregor Golf, Hippo Golf, and Infiniti Golf.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Golf Club and Sets Market Analysis from 2021 to 2031 to identify the prevailing golf club and sets market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the golf club and sets market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global golf club and sets market trends, key players, market segments, application areas, and market growth strategies.

Golf Club and Sets Market Report Highlights

Aspects Details
icon_1
Market Size By 2031

USD 4.9 billion

icon_2
Growth Rate

CAGR of 3.9%

icon_3
Forecast period

2021 - 2031

icon_4
Report Pages

238

icon_5
By Type
  • Putters
  • Irons
  • Hybrids
  • Wedges
  • Woods
icon_6
By Distribution Channel
  • Specialty Stores
  • On-course Shops
  • Online Stores
  • Others
  • Sporting Goods Chain
icon_7
By Application
  • Lesuire
  • Professional
  • Others
icon_8
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Spain, Italy, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, Australia, South Korea, Singapore, Thailand, Malaysia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
icon_9
Key Market Players

Amer Sports, Callaway Golf Company, Bettinardi Golf, LLC, Adidas AG, Sumitomo Rubber Industries, Ltd, Nike, Inc., Pen fold Golf Limited, Bridgestone Corporation, Acushnet Holdings Corp.

Analyst Review

The golf clubs & sets has witnessed steady growth even under several unrests such as global uncertainty, weakened global economy, terrorist attacks, and others. According to the insights of the CXOs, the other golf clubs’ segment is anticipated to witness significant growth, owing to increase in health awareness and rise in sports awareness.

In addition, increase in sponsored sports events by government and private organizations to augment the participation of young population from the developing regions fosters the market growth. Moreover, rise in equipment donation by various organizations is anticipated to propel the market growth. Offline sales segments have enabled consumers to procure exclusive golf clubs & sets with opportunity to try and experience the products.

Rise in expenditure on sports training and development among children, owing to increase in consciousness about the benefits of engaging in sports activity such as increased concentration and problem-solving ability has fueled the demand for sports equipment including golf clubs & sets. Moreover, changing paradigm of educational system supports the growth of sport industry and industries related to it. In addition, rise in sports education and sports training in academics has significantly increased the awareness towards sports and fitness. Thus, many of the school/educational institutes are providing training to the students, providing them with the opportunity to compete in various sports competitions. Furthermore, upsurge in state, national, and international level competitions conducted by various governments across the world is leading to increased participation and developing interest of the youth in sports activities. This in turn has resulted in increased demand for sports training among kids’ segment which significantly contributes to the overall growth of the market.

Author Name(s) : Samriddhi Chauhan | Roshan Deshmukh
Frequently Asked Questions?

The global golf club and sets market was valued at $3,371.9 million in 2021, and is projected to reach $4,851.8 million by 2031, registering a CAGR of 3.9%.

From 2022-2031 would be forecast period in the market report

$3.4 billion is the market value of golf club & sets market in 2021.

2021 is base year calculated in the golf club & sets market report report.

Acushnet Holdings Corp., Adidas AG, Amer Sports, Bridgestone Corporation, Callaway Golf Company, DICK'S Sporting Goods, Inc. , Dixon Golf, Inc., Nike, Inc., Sumitomo Rubber Industries, Ltd, and Robin golf, Ping are the top companies hold the market share in golf club & sets market.

Loading Table Of Content...

Loading Research Methodology...

Individual sections of the reports are available for purchase.
Would you like to see a breakdown of prices by section?

Golf Club and Sets Market

Global Opportunity Analysis and Industry Forecast, 2022-2031