GOLF EQUIPMENT MARKET ANALYSIS

Golf Equipment MarketSize and Trends

The global golf equipment market is projected to reach around US$ 16.11 Billion by 2030, exhibiting a CAGR of 4.7% during the forecast period (2023-2030).

Global Golf Equipment Market: Trends

• Rising trend for footwear among young adults: Increasing popularity of footwear among young adults, as these offer greater comfort and flexibility to the player than conventional shoes, is a growing trend in the market. For instance, in June 2021, Adidas launched a golf shoe called the Solarthon, which  is lightweight and comfortable. Further, the brand aims to introduce Solarthon in limited-edition grey, blue, and white-colored variants. The shoe features Adidas’ Primeblue textile upper and recycled yarn containing at least 50% parley ocean plastic to help the company’s “End Plastic Waste” initiative.
• Growth of the retail sector: Expansion of retail sector such as supermarkets and hypermarkets, coupled with the increasing focus on the manufacturer to showcase their products in these retailers will further favor the market growth. According to the Coherent Market Insights analysis, the offline stores segment of the global golf equipment market was valued at US$ 8,466.39 million in 2021, and it is projected to reach US$10,229.53 million by 2027, registering a CAGR of 3.32% during the period (2022-2030)