Global Golf Gloves Market Projected to Augment at a Notable CAGR during the Forecast Period until 2022 / Key Players Callaway Golf Company, Acushnet Holdings Corp., Under Armour, Inc., Mizuno Corporation, NIKE, Inc., Adidas AG
The rising number of golf courses on a global scale, several developments and innovations in the production of the fabric used in the gloves production, rising awareness among the golfers regarding protection of palm and fingers against blisters and protection from external agents, for example heat, is driving the growth of the global golf gloves market. Various types of gloves are available made from different material such as leather, synthetic material, thermal gloves etc. The rising popularity of the all-weather golf gloves is also contributing to the growth of the global market. Keeping professional angle on one side, even rich people and businessmen are involving themselves in this sport, basically owing to overflow of disposable income and this is fuelling the growth of the golf sport as well as the global golf gloves market. However, few aspects might pose a restraint to the growth of the market, for example the pricing of the golf gloves, low preference of golf gloves among amateur golfers and availability of the clone versions of the golf gloves which are comparatively cheaper than the original gloves. North America shows higher market attractiveness and is favorable for the golf gloves market.
Golf sport is played with a golf ball and a golf club on an extremely wide area called the golf course which has a random series of holes in which the ball needs to be out with the help of club by swinging it. Golf gloves are one of the accessories which a golfer uses. These gloves have several benefits such as warmth, protection from external agents such as cold and extreme heat, better grip, protection from blisters on palm and fingers, controlling sweat which stops the golf club from slipping, and an overall better feel while playing. These gloves come in different material, such as leather, synthetics, all-weather material and thermal gloves.
According to Fact.MR’s research report on the global golf gloves market, the market is anticipated to reach a value nearing US$ 200 Mn by 2022 reflecting a moderate CAGR during the forecasted period of 2017-2022.
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Direct to Consumer Brand Outlet Ties with Third Party Online Channel
The direct to consumer brand outlet segment and third party online channel segment by sales channel are expected to grow at the same growth rate, yet higher than other segments. The direct to consumer online channel segment by sales channel comes second in line as far as growth speed in concerned. However, there is difference between the market shares of direct to consumer brand outlet segment, third party online channel segment and direct to consumer online channel segment, with direct to consumer brand outlet segment with comparatively higher market share by revenue as of 2017. The modern trade channels segment witnesses highest market share of 23.1% in 2017 and this trend is poised to continue over the period of forecast of 2017 to 2022.
Hybrid to Surpass in all Terms
The hybrid golf gloves segment by material type is expected to surpass other segments by material type with respect to growth rate as well as market share. The hybrid segment is anticipated to grow at a moderate growth rate, higher as compared to other segments and poised to register a CAGR of 4.3% during the period of forecast. This segment also expected to enjoy a gain in the BPS by the end of 2022 as well as a higher market share by revenue. The leather golf gloves segment is second in line, following hybrid segment, and experiences a moderate market share.
Individual Segment by Buyer Type Shows Dominance
The individual segment by buyer type reflects higher market share as of 2017 with a higher growth rate and is expected to reach a CAGR of 4.3% throughout the period of forecast. This trend is expected to continue over the entire period of forecast of 2017 to 2022, thereby reflecting dominance in the global golf gloves market by buyer type.
North America at the Apex in the Global Market
North America region is expected to show higher market attractiveness index and is considered to be the most lucrative market. This region is expected to dominate the global golf gloves market in terms of revenue share and growing at a moderate growth rate. The Asia-Pacific excluding Japan (APEJ) region is anticipated to be the fastest growing region, yet has a lower market share by revenue as compared to North America. The main cause of APEJ to rise in this market is attributed towards the increasing disposable income and more riches opting for golf as a recreational sport and also intend to take care of their palm and fingers which could develop blisters, thereby contributing to the fast growth rate of golf gloves in the APEJ region.
The report also profiles companies that are expected to remain active in the expansion of the global golf gloves market through 2022, which include Callaway Golf Company, Acushnet Holdings Corp., Under Armour, Inc., Mizuno Corporation, NIKE, Inc., Adidas AG, Amer Sports Corporation and 3M Company.
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