Golf Accessories Market Size and Growth 2031

The golf accessories market size is projected to reach US$ 8,546.58 million by 2031 from US$ 6,956.75 million in 2023. The market is expected to register a CAGR of 2.6% during 2023–2031. The game of golf has risen in popularity, partly due to the influence of social media and celebrities. Social media enables golfers to engage with fans and create meaningful connections and engagement. Social media platforms like Twitter, Instagram, and YouTube have enabled golfers to connect directly with their fans, establishing a connection between the digital world and the golfers.

Golf Accessories Market Analysis

The growth of the golf accessories market is attributed to the increasing number of people participating in golf and the rising number of golf events organized by governing bodies across various regions. the International Golf Federation organizes many programs and events in various countries across the globe, which attracts a large number of people to the game. Golf tourism has significantly developed due to the expansion of golf courses worldwide and the surging number of golf tournaments. This is expected to increase the adoption of various golf equipment and augment the overall demand.

Golf Accessories Market Overview

Golf accessories include different products used to play golf such as – golf gloves, golf balls, golf shoes, golf wear, golf gear, clubs, club head cover, wedges, putters, and other accessories. These accessories may help golf players play the game in multiple ways and enhance their playing experience to some extent. Golf is a very expensive outdoor recreation activity widely popular among amateur players and business individuals. Golf is played by more than 60 million individuals in more than 130 countries across six continents. An increase in the population participating in golf boosts the golf accessories market share globally.

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Golf Accessories Market: Strategic Insights

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Golf Accessories Market Drivers and Opportunities

Strategic Development Initiatives by Manufacturer

The major golf accessories manufacturers are implementing strategic development initiatives to enhance their products and services. Companies started to invest in promoting their products to increase their customer base. Moreover, they partnered with golf professionals to collect insights on requirements and trends in the golf industry that help companies modify their products to meet specific needs.  Golf has recently become a leisure activity, making it a lifestyle sport. Factors including the development & expansion of new golf courses and increased government initiatives to promote golf tourism have increased the popularity of this sport, thereby increasing demand for its associated equipment.

Adoption of E-Commerce

The golf accessories industry has seen a surge in e-commerce adoption, driven by the convenience of online shopping and digital marketing. This shift allows customers to easily browse products and purchase from home, while retailers can expand their reach and reduce overhead costs. E-commerce platforms also provide retailers with valuable data insights into customer behavior, enabling them to tailor their marketing and sales strategies. This results in a more personalized and efficient shopping experience for customers. Overall, adopting e-commerce in the golf accessories industry is a positive trend benefiting both retailers and customers.

Golf Accessories Market Report Segmentation Analysis

Key segments that contributed to the derivation of the golf accessories market analysis are type and distribution channel.

• Based on type, the golf accessories market is segmented into Headwear, Golf Gloves, Eyewear, Mark Tool, Putter Covers, and Others.
• By distribution channel, the market is segmented into Supermarkets & Hypermarkets, Specialty Stores, Online Retail, and Others.

Golf Accessories Market Share Analysis by Geography

The geographic scope of the golf accessories market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America dominated the golf accessories market. The North American market is expected to have a significant global market share due to the growing urbanization and changing lifestyles. The demand for opulent lifestyles, high disposable income, and the need for recreational activities drive market expansion for golf equipment. The rigid supply chain in the region boosts sales, with maximum sales occurring through offline distribution channels. The market is expected to grow due to these factors.

Golf Accessories Market Regional Insights

The regional trends and factors influencing the Golf Accessories Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Golf Accessories Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Golf Accessories Market Report Scope

Golf Accessories Market Players Density: Understanding Its Impact on Business Dynamics

The Golf Accessories Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Golf Accessories Market are:

1. Zero Friction LLC
2. Topgolf Callaway Brands Corp
3. Under Armour Inc
4. TaylorMade Golf Co
5. Adidas AG
6. Acushnet Company

Disclaimer: The companies listed above are not ranked in any particular order.

Golf Accessories Market News and Recent Developments

The golf accessories market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the golf accessories market are listed below:

• Callaway Golf, one of the industry's leaders in equipment design, performance, and innovation, announced their new line of Chrome Tour, Chrome Tour X, and Chrome Soft Golf Balls. From cover to core, these golf balls are the new gold standard in performance, and they will all be available at retail on February 2. Every detail in this lineup has been optimized, including the new Hyper Fast Soft Core, mantle designs, new Tour Seamless Aero package, and the cover formulation. Each of these technologies is meticulously measured through industry-leading manufacturing, with over 100 million proof points, for the most consistent performance. Throughout the development, Callaway's R&D team has worked extensively with some of the best Tour players in the game, incorporating their detailed feedback into the engineering and performance characteristics of these golf balls. (Source: Topgolf Callaway Brands Corp, Press Release, JAN 2024).
• Acushnet Holdings Corp. (“Acushnet”) (NYSE: GOLF), the worldwide leader in the design, development, manufacture and distribution of performance-driven golf equipment and golf wear, today announced it has purchased the Club Glove brand from West Coast Trends, Inc. Club Glove was founded in 1990 and is known by dedicated golfers to be the unmatched leader in golf travel products. Club Glove is the preferred choice by the overwhelming majority of PGA Tour, LPGA Tour and PGA Club Professionals, and its patented travel gear has long been recognized among the industry’s most innovative and reliable products. (Source: Acushnet Holdings Corp, Press Release, FEB 2023).

Golf Accessories Market Report Coverage and Deliverables

The “Golf Accessories Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Golf accessories market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Golf accessories market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Golf Accessories market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Golf Accessories market
• Detailed company profiles