According to a new report published by Allied Market Research, titled, “Golf Clothing Market by Product Type, End User and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030”.The report provides a detailed analysis of key investment pockets, top segments, regional scenario, value chain, and competitive landscape.
The global golf clothing market size was valued at $834.1 million in 2020, and is projected to reach $1,554.3 million by 2030, registering a CAGR of 6.0% from 2021 to 2030.
Emergence of trend of golf tourism, surge in fitness consciousness among consumers, and trend for fashionable sports apparel drive the growth of the global golf clothing market. North America contributed to the highest share in terms of revenue in 2020, and is estimated to maintain its lead position by 2030. Manufacturing activities of golf clothing halted due to lockdown implementations across various countries during the Covid-19 pandemic.
The sports sector was severely affected during the outbreak of the COVID-19 pandemic. Many sports events including golf tournaments were postponed or cancelled during the outbreak, which hampered the growth of the market. Moreover, sale of sportswear including golf clothing was hampered globally, as the outbreak has led to closure of sports complexes, state sports activities, stores and others. This further led to decline in participation in golf, which in turn, hampered the demand for golf clothing; thus, restricting the growth of the market in terms of value sales during the pandemic.
Based on product type, the top wear segment accounted for the highest share in 2020, contributing to nearly three-fifths of the total share, and is estimated to maintain its dominant share during the forecast period. However, the bottom wear segment is projected to portray the highest CAGR of 6.7% from 2021 to 2030.
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Based on end user, the men segment held the highest market share in 2020, contributing to more than half of the global golf clothing market, and is expected to maintain its leadership status during the forecast period. However, the women segment is estimated to witness the fastest CAGR of 7.2% from 2021 to 2030.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest golf clothing market share in 2020. Consumers in the region are increasingly participating in golf, especially in the U.S., which in turn has driven the demand for golf clothing in this region. This in turn has propelled the growth of golf clothing market in North America. However, Asia-Pacific is expected to be the fastest growing market during the forecast period.
Covid-19 Scenario:
• Manufacturing activities of golf clothing halted due to lockdown implementations across various countries. Moreover, supply chain disruptions and raw material shortage occurred.
• Many golf tournaments were cancelled or postponed due to Covid-19 pandemic to curb the spread of inflection due to gathering of people. This reduced the demand for golf clothing.
Leading players of the global golf clothing market:
• Adidas AG
• Callaway Apparel
• Antigua Group Inc.
• Nike Inc.
• Linksoul
• Ping TaylorMade Golf Company Inc.
• PUMA Inc.
• William Murray Golf
• Under Armour Inc.
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