Golf Equipment Market Size

Golf Equipment Market Analysis

The Golf Equipment Market size is estimated at USD 11.89 billion in 2024, and is expected to reach USD 14.86 billion by 2029, growing at a CAGR of 4.57% during the forecast period (2024-2029).

The popularity of golf is increasing across the world as it has become a game of profession and sophistication. As people become more health-conscious, golf is increasingly viewed as a recreational activity that provides both physical exercise and mental relaxation. Its reputation as a low-impact sport suitable for all ages and fitness levels has attracted a diverse range of participants. Owing to this, the demand for golf equipment like Bags, apparel, footwear, and other products is increasing. The market players are providing different types of golf equipment across the world to cater to the growing demand. For instance, in February 2024, the Adidas brand launched the Tour360 golf shoe collection. The shoes provide comfort and stability to the players. Furthermore, the popularity of professional golf players and their achievements in the field is enticing young demographics to participate in the sport. 

Additionally, The golf industry has seen significant advancements in technology, particularly in equipment design and materials. Manufacturers continually innovate to produce clubs and balls that offer better performance, forgiveness, and distance. Golfers are often willing to invest in these newer products to improve their game. Also, Some governments and associations have recognized the economic and social benefits of golf and have taken steps to promote the sport through policies and initiatives such as tax incentives for golf course developers and subsidies for golf programs. According to the United States Golf Association data from 2022, the association added a GPS tracker on players to track their movement on the field. Over the medium term, the popularity of golf sport is expected to increase which is expected to boost the market growth.