Golf Equipment Market Size - By Product Type (Golf Club, Golf Balls, Golf Gear Golf Footwear & Apparel), By Distribution, By Price & Global Forecast, 2023-2032

Golf Equipment Market Size - By Product Type (Golf Club, Golf Balls, Golf Gear Golf Footwear & Apparel), By Distribution, By Price & Global Forecast, 2023-2032

Golf equipment market size is projected to expand at over 4.4% CAGR from 2023 to 2032. The increased disposable incomes worldwide have prompted the rising global interest in golf, followed by the growing number of tournaments. The surging technological advancements in golf equipment, such as clubs with enhanced materials and design are also attracting a large number of enthusiasts.

In recent times, the surge in golf tourism is driving the popularity of golf as a recreational activity. The trend towards fitness and wellness has also picked significant ground. Furthermore, multiple marketing efforts led by key industry players to reinforce their presence and the higher product accessibility through online sales channels will boost the market growth. For instance, in July 2023, Callaway Golf India, a well-known Golf equipment manufacturer launched its first golf fitting centre at the KGA (Karnataka Golf Association) in Bengaluru, India.

The golf equipment market is segregated into product type, distribution channel, price, and region.

Based on product type, the industry value from the golf gear segment is projected to witness 4.9% CAGR through 2032, driven by the rising technological advancements in club designs. The increasing popularity of recreational activities along with the rising demand for customizable and high-performance equipment will fuel the demand for golf gears.

In terms of distribution channel, the specialty stores segment is estimated to accumulate commendable share of the golf equipment market, depicting 4.3% CAGR during 2023-2032. The growth can be attributed to the surging need for personalized customer services, wide product assortment, and exclusive brand offerings. Consumers are widely preferring the expertise and tailored experience provided by specialty stores, in tur, fueling the sales of golf equipment through these channels.

With respect to price, the demand for high-priced golf equipment will exhibit 3% CAGR through 2032. This is due to the growing influx of cutting-edge technology, premium materials, and superior craftsmanship offered by high priced equipment. The growing emphasis by affluent consumers on seeking top-tier performance and prestige will also add to the segment expansion.

Regionally, the Europe golf equipment industry size is anticipated to expand at 4.9% CAGR during the forecast period. The growth can be attributed to the increasing participation in golf in the region. The rising disposable incomes and the growing interest in leisure activities are further fueling continuous innovations in golf equipment, favoring the market growth.