Demand for Golf Apparel In the North America Is Expected to Grow at a Significant Pace | Fact.MR

Fact.MR’s latest report projects that the Sales of golf apparel will surge at a steady CAGR of little under 4% during the forecast period (2017-2026).

Over the years, the popularity of golf has reached new heights. The youth generation is finding the modern version of the sport quite appealing and trendy. This, in turn, is influencing the participation rate. The number of golf players has grown to a significant extent over the past couple of decades. Rising popularity of golf in various parts of the world is resulting in greater involvement of individuals both in passive viewing and active participation. 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, Sales of golf apparel market will stand at over US$ 6,600 Mn by 2026-end. Also, the development of new courses has provisioned greater access to the sport making it less expensive and exclusionary.

People in the developing countries are also showing more interest in the sport owing to construction of erection of golf courses, which is enabling the youth population to get a more exclusive golf experience. After a century long absence, golf reappeared in the 2016 summer Olympics held in Rio. The sport has continued to gain traction in recent years, which is also having a positive influence on the demand for golf apparel. The 2017 PGA merchandise show held in Orlando saw record attendance which proves which highlights the immense market potentials of golf apparels.

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Analyst’s Viewpoint:

The global golf apparel market is poised to grow positively during the forecast period. Emerging regions like Asia Pacific and Middle East and Africa have seen a shift in consumer inclination towards golf. The market is expected to showcase sluggish growth during 2020.

Key Insights from the Report Include:

In terms of revenue, North America will continue to dominate the global golf apparel market in 2017, and the trend is expected to continue over the next couple of years. Further, the market in the region is projected to exhibit a CAGR of 3.3% over the forecast period.
On the basis of product type, the shoes segment is expected to remain highly lucrative throughout the assessment period. Currently, the segment command for more than one-third share of the market and is projected to expand at a modest rate. The segment is set to increase by US$ 125.6 Mn annually over the course of the forecast period.
By gender, the men segment in will continue to post a relatively higher revenue share over 2022. The segment currently commands for over 65% market share in terms of revenue and is expected to exhibit a steady CAGR between 2017 and 20226.
Base on sales channels, the on-course outlets segment is expected to hold a leading position. The segment is expected to surpass a valuation of US$ 1,200 Mn towards the end of the assessment period, reflecting an above-average growth.
On the basis of buyer type, the individual segment is anticipated to retain the top spot over 2026. The segment is projected to soar at 3.9% CAGR during 2017 to 2026 and reach a market valuation in excess of US$ 4,300 Mn.

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Golf Apparel Market: Segmentation

FactMR’s study has done the segmentation of the golf apparel market on the basis of product type, gender, sales channel, and buyer type.

Product Type

Top wear
Bottom wear
Hats
Shoes
Other Accessories

Gender

Men
Women
Kids

Sales Channel

Sports Variety Stores
On-Course Outlets
Branded Golf Stores
Others

Buyer Type

Individual
Institutional
Promotional

Region

North America
Latin America
Europe
East Asia
South Asia and Oceania
MEA

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Key Questions Covered in the Golf Apparel Market Report

The report offers detailed insights into the Golf Apparel demand outlook for 2020-2030
The market study also highlights projected sales growth for the Golf Apparel market between 2020 and 2030
Golf Apparel market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends, evaluation of current market size, and technological advancements within the industry
Golf Apparel market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

Competition Tracking

Fila Korea Co. Ltd.
NIKE Inc.
Callaway Golf Company
Amer Sports Corporation
Kering S.A.
Adidas AG
Under Armour Inc.
ASICS Corporation
MIZUNO Corporation
Ralph Lauren Corporation 

For More Insights: https://www.globenewswire.com/en/news-release/2018/05/10/1500111/0/en/North-America-will-remain-the-Most-Attractive-Market-for-Golf-Apparels-Over-2026.html

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