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Golf apparel market to see 4% growth in 2020-2030: Fact.MR
07 Jul '20
2 min read
Pic: Shutterstock
The global golf apparel market is projected to witness a 4 per cent growth between 2020 and 2030 because of the soaring popularity of golf as a sport and the construction of new golfing facilities around the globe, especially in the Asia-Pacific, many of which would be accessible to the public, according to Dublin-headquartered market research firm Fact.MR.
North America accounts for more than a third of the golf apparel market and the demand there is likely to rise during the forecast period, according to a Fact.MR press release.
Bottom wear is expected to experience high growth compared to top wear owing to diversified portfolio comprising of bottom wear such as pants and shorts.
Men’s segment in golf apparel market is expected to dominate the market and is projected to grow 1.3 times during the forecast period. Individuals are expected to be the fastest growing buyer type for golf apparel, growing 1.5 times during the period.
Sales through sports variety stores are expected to remain prominent, while branded golf stores are expected to catch up.
“The global golf apparel market is poised to showcase sluggish growth in 2020, owing to the COVID-19 pandemic. However, companies are anticipating lucrative opportunities post pandemic as well as over the next five year forecast period”, says the report analyst.
Many golf apparel designers are planning to work in close collaboration with local craftspeople and artisans to develop exclusive golf apparel lines. For instance, in 2020, Asher golf brand expanded its product line head-to-toe with more than 45 new hat styles for golf.
The Ladies Professional Golf Association unveiled its first retail store in South Korea in association with a Korean company. The company hopes that their golf apparel line will fuel the popularity of golf not only in Korea but also across the broader Asia-Pacific Excluding Japan (APEJ) region.
North America accounts for more than a third of the golf apparel market and the demand there is likely to rise during the forecast period, according to a Fact.MR press release.
Bottom wear is expected to experience high growth compared to top wear owing to diversified portfolio comprising of bottom wear such as pants and shorts.
Men’s segment in golf apparel market is expected to dominate the market and is projected to grow 1.3 times during the forecast period. Individuals are expected to be the fastest growing buyer type for golf apparel, growing 1.5 times during the period.
Sales through sports variety stores are expected to remain prominent, while branded golf stores are expected to catch up.
“The global golf apparel market is poised to showcase sluggish growth in 2020, owing to the COVID-19 pandemic. However, companies are anticipating lucrative opportunities post pandemic as well as over the next five year forecast period”, says the report analyst.
Many golf apparel designers are planning to work in close collaboration with local craftspeople and artisans to develop exclusive golf apparel lines. For instance, in 2020, Asher golf brand expanded its product line head-to-toe with more than 45 new hat styles for golf.
The Ladies Professional Golf Association unveiled its first retail store in South Korea in association with a Korean company. The company hopes that their golf apparel line will fuel the popularity of golf not only in Korea but also across the broader Asia-Pacific Excluding Japan (APEJ) region.
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