|06-13-2018 08:49 PM CET - Advertising, Media Consulting, Marketing Research||
Golf Apparel Market by Trend Analysis & Competition Tracking and Forecast 2017 to 2026
Press release from: Factmr
About Golf Apparel market
Increasing popularity of golf across the globe has led to a rise in participations in the particular sport. Moreover, growing viewership of pro-golf tournaments is resulting in more individuals taking up the sport. This is falling brightly on the global demand for golf equipment and apparels. According to the latest report published by Fact.MR, the global golf apparel market is set to surpass a valuation of US$ 6,600 Mn by the year 2026. There has been a steady growth in golf enthusiasm among the youth population. A sports that was previously marked by elitism is now attracting the general classes of the society. For instance, The 2017 PGA merchandise show - a trade-only event for qualified golf industry professionals held at Orlando U.S.A recorded overwhelming attendance. Over the years, a large number of courses have mushroomed, allowing more youth participation. The sport also graced the 2016 Rio Olympics after nearly a century of nonappearance. With golf courses becoming more accessible, the participation number is also going up. The aforementioned factors are reflecting favourably on the global golf apparel market.
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North America’s Leadership to remain Unchallenged
Among regions, the market in North America will continue to dominate the global golf apparel market in 2017 and beyond. The golf apparel market in the region currently commands for the largest revenue share and is projected to grow at a steady pace during the forecast period (2017-2026). Golf is a prominent sport in the region and account for high viewership as well as participation in both the U.S. and Canada. Moreover, a strong presence of market players is further supporting the growth of the market in North America.
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Shoes – Top Selling Golf Apparel
Demand for golf shoes is relatively higher as compared to other golf apparels. Global sales of golf shoes currently accounts for around 38% of the overall market revenue. This is primarily owing to innate nature of the sport that makes golf shoes compulsory for participation. Towards the end of 2026, more than US$ 2,400 Mn worth golf shoes are expected to be sold worldwide.
Men’s Golf Apparel a Leading Segment
Global sales of men’s golf apparels are expected to remain relatively high during the forecast period. In terms of revenue, sales of men’s golf apparels globally represents for a significant share of the market and the trend is likely to continue over 2026. High number of male participation is one the major factors driving the demand for men’s golf apparel.
Strong Sales to be Recorded through On-Course Outlets
On-course outlets will remain one of the largest sales channel for golf apparel during the assessment period. Owing to a strong customer exposure and location advantage on-course outlets is expected witness higher sales then other sales channels in the near future. Close to US$ 1,261.7 Mn worth golf apparels are estimated to be sold through on-course outlets by 2026-end.
Fact.MR in its report has profiled some of the prominent companies operating in the global apparel market namely Adidas AG, NIKE, Inc., Under Armour, Inc., Callaway Golf Company, ASICS Corporation, Amer Sports Corporation, MIZUNO Corporation, Kering S.A., Ralph Lauren Corporation, and Fila Korea Co., Ltd. Many of these companies are actively focussing on enhancing product design and offering tail-made options to customers.
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