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Golf Apparel Market Size, Outlook, Trends And Forecast To 2033
Golf Apparel Market
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According to The Business Research Company's, The golf apparel market size has grown strongly in recent years. It will grow from $3.11 billion in 2023 to $3.34 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to traditional dress codes in golf clubs, growth of golf as a recreational sport, influence of professional golf tournaments, evolution of golf fashion and style trends, rise in golf tourism and destination golf courses
.
The golf apparel market size is expected to see strong growth in the next few years. It will grow to $4.29 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to emergence of golf as a social activity, sponsorship and endorsements from golfers and brands, increased participation of women in golf, expansion of golf retail and merchandise outlets, rise of golf as a fitness activity, adoption of customization and personalization in golf attire, popularity of retro and vintage-inspired golf apparel. Major trends in the forecast period include technological innovations in smart golf wear, integration of wearable technology in golf apparel, growing demand for sustainable and biodegradable golf clothing, collaboration between golf apparel brands and professional golfers, adoption of advanced performance technologies in fabrics.
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Market Drivers and Trends:
The increase in golf events is expected to propel the growth of the golf apparel market going forward. A golf event refers to a men's or women's stroke play event in the games in which an athlete competes. Golf events include professional golf competitions, pro-am competitions, exhibitions, clinics, charity tournaments, media appearances, open practice sessions, and all other public golf-related activities. In golf, comfortable apparel enables athletes to maintain their focus on the game, give their best efforts, and enjoy the sport. For instance, in March 2023, according to the Professional Golfers' Association Limited, a UK-based federal agency professional organization that protects the interests of the club and teaches golfers, in 2022, there were 24.7-million-member rounds of golf game events, 1.8 million more than in 2021, 2.5 million more than in 2020, and 11.2 million ahead of pre-Covid levels of 2019. This represents an increase of 8% from 2021, 11% from 2020, and a massive 84% growth from 2019. Therefore, the increase in golf events is driving the growth of the golf apparel market.
Product innovation is a key trend gaining popularity in the golf apparel market. Major companies operating in the golf apparel market are focused on innovating new products to sustain their position in the market. For instance, in April 2022, Crew Clothing, a UK-based clothing retailer, launched its first technical golf apparel collection. Crew's golf apparel features a variety of advancements to increase comfort and performance, including items with four-way stretch for simple swinging. Many things have COOLMAX moisture-wicking technology for added comfort, and the men's quilted gilet has DuPont Sorona, a plant-based wadding that blends built-in warmth with ultra-lightness.
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Major Key Players of the Market:
Nike Inc., Adidas AG, Puma SE, Lululemon Athletica Inc., Ralph Lauren Corporation, Under Armour Inc., Uniqlo Co Ltd., Hugo Boss AG,Topgolf Callaway Brands Corp, Calvin Klein Inc., Fila Holdings Inc., Amer Sports Oy, Lacoste Alligator S.A., U.S. Polo Assn., Acushnet Holdings Corp, Mizuno Corporation, Oakley Inc., TaylorMade Golf Company Inc., FootJoy, Wilson Sporting Goods Co, HEAD Sport GmbH, TravisMathew LLC, Roger Cleveland Golf Company Inc., TRUE Sports Inc., Peter Millar, Dixon Golf Inc., Bonobos Inc., KJUS Inc., Greyson Clothiers, Abacus Sportswear AB.
Golf Apparel Market 2024 Key Insights:
• The golf apparel market size is expected to see strong growth in the next few years. It will grow to $4.29 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• The Surge In Golf Events Fuels Growth In The Golf Apparel Market
• Innovative Product Developments Transform The Golf Apparel Market
• North America was the largest region in the golf apparel market in 2023
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