Golf Apparel Market Analysis Covering Drivers and Trends Forecasted during 2017-2026
According to the latest report published by Fact.MR, the global golf apparel market is set to surpass a valuation of US$ 6,600 Mn by the year 2026. There has been a steady growth in golf enthusiasm among the youth population. A sports that was previously marked by elitism is now attracting the general classes of the society.
[USPRwire, Fri May 03 2019] Fact.MR has recently updated its massive report catalogue by adding a fresh study titled “Golf Apparel Market Analysis Covering Drivers and Trends Forecasted during 2017-2026”. This business intelligence study encapsulates vital details about the market current as well as future status during the mentioned forecast period of 2026.The report also targets important facets such as market drivers, challenges, latest trends, and opportunities associated to growth of manufacturers in global market for Golf Apparel Market. Along with these insights, the report provides the readers crucial insights on the strategies implemented by leading companies to remain in the lead of this competitive market.
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According to the latest report published by Fact.MR, the global golf apparel market is set to surpass a valuation of US$ 6,600 Mn by the year 2026. There has been a steady growth in golf enthusiasm among the youth population. A sports that was previously marked by elitism is now attracting the general classes of the society. For instance, The 2017 PGA merchandise show - a trade-only event for qualified golf industry professionals held at Orlando U.S.A recorded overwhelming attendance. Over the years, a large number of courses have mushroomed, allowing more youth participation. The sport also graced the 2016 Rio Olympics after nearly a century of nonappearance. With golf courses becoming more accessible, the participation number is also going up. The aforementioned factors are reflecting favourably on the global golf apparel market.
Demand for golf shoes is relatively higher as compared to other golf apparels. Global sales of golf shoes currently accounts for around 38% of the overall market revenue. This is primarily owing to innate nature of the sport that makes golf shoes compulsory for participation. Towards the end of 2026, more than US$ 2,400 Mn worth golf shoes are expected to be sold worldwide.
Global sales of men’s golf apparels are expected to remain relatively high during the forecast period. In terms of revenue, sales of men’s golf apparels globally represents for a significant share of the market and the trend is likely to continue over 2026. High number of male participation is one the major factors driving the demand for men’s golf apparel.
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In addition, growing number of pro-golf tournaments and greater media coverage is playing a crucial role in putting golf in the bracket of prominent sports in the world. Factors as such are expected to drive the demand for golf apparels in the forthcoming years. As per Fact.MR’s report, global market for golf apparel will stand at over US$ 6,600 Mn by 2026-end. Also, development of new courses has provisioned greater access to the sport making it less expensive and exclusionary.
On-course outlets will remain one of the largest sales channel for golf apparel during the assessment period. Owing to a strong customer exposure and location advantage on-course outlets is expected witness higher sales then other sales channels in the near future. Close to US$ 1,261.7 Mn worth golf apparels are estimated to be sold through on-course outlets by 2026-end.
Fact.MR in its report has profiled some of the prominent companies operating in the global apparel market namely Adidas AG, NIKE, Inc., Under Armour, Inc., Callaway Golf Company, ASICS Corporation, Amer Sports Corporation, MIZUNO Corporation, Kering S.A., Ralph Lauren Corporation, and Fila Korea Co., Ltd. Many of these companies are actively focussing on enhancing product design and offering tail-made options to customers.
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