Golf Products Market: Worldwide Sales Is estimated to close in approximately US$ 11,000 Mn by 2026-end.

Tremendous expansion of golf tourism industry, development of new courses for golf, and growing number of female participants in the sport are key factors fuelling demand for golf products globally. Being an outdoor activity, more individuals are attracted toward the sport, thereby paving opportunities for the market. The report, compiled by Fact.MR, provides in-depth analysis of the global golf products market for the forecast period 2017-2026, and offers key insights about future market direction. 

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Fact.MR has published a new research report on the global golf products market and offers forecast on the market for the period between 2017 and 2026. The report projects the market to ride on a steady CAGR through 2026. Revenues from worldwide sales of golf products are estimated to close in approximately US$ 11,000 Mn by 2026-end.

On the basis of product type, clubs (set) are likely to remain dominant in the market, in terms of revenues. Clubs that are made of wood are witnessing high demand among golf players worldwide, mainly because of their durability and specifications, which help golfers to hone and develop their skills. Golf products manufacturers are making significant investments in design and development of clubs, making them user-specific as requirement for club style varies from player to player.

Sports Variety Stores to Spearhead the Market based on Sales Channel

In terms of revenues, Sports variety stores are anticipated to spearhead the market, based on sales channel. The provision of products manufactured from popular brands has made sports variety stores an attractive sopping destination for golf players. In addition the ease and convenience of shopping online has made players to opt for third party online channels, which offer discounts on various brands of golf equipment. This sales channel will also remain major revenue contributor to the gold products market.

Based on buyer type, individual buyers will account for the largest market revenue share during the forecast period, followed by institutional buyer. Revenues from promotional buyers will continue to be sluggish in the market.

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6 Key Takeaways from Fact.MR’s Report on Golf Products Market for Forecast Period 2017-2026

1- North America and Europe will continue to be most lucrative markets for golf products, with revenues from the market in North America estimated to remain almost double than those from Europe.

2- Sales expansion of golf products are projected to remain relatively faster in Japan as well as in Asia-Pacific excluding Japan (APEJ). Revenues from the markets in Japan and APEJ will also hold major market shares during the forecast period.

3- Based on product type, clubs are anticipated to dominate the global golf products market, in terms of revenues. Sales of golf balls are projected to register a relatively faster expansion than that of clubs, to become the second most lucrative product in the market by 2026-end.

4- Sports variety stores and third party online channels are expected to account for the largest market revenue shares during the forecast period. Revenues from golf product sales in on-course outlets and modern trade channel will also account for major market revenue shares during 2017 to 2026.

5- Direct to customer online channel will continue to be the fast-expanding sales channel in the global golf products market, followed by on-course outlets.

6- Revenues from individual buyers of golf products are expected to remain larger than those of institutional and promotional buyers combined. Individual buyers will account for over half market revenue share by 2026-end.

Competition Tracking

Manufacturers of gold products such as golf shoes and apparel are concentrating on developing advanced fabrics by using lightweight, micro fleece fibers and breathable micro fibers. New models of shoes being launched are multi-functional and lighter, in a bid to facilitate utilization even outside golf courses. Competition in the global golf products market is intense and players constantly emphasize on distinguishing their products & services through formulation of a unique and clear value proposition.

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This release was published on openPR.