Golf Apparel Market to grow at a CAGR of 7.07% during 2024-2028
The Golf Apparel Market is expected to grow at a CAGR of 7.07% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1961.9 million. The golf industry is experiencing a resurgence, with an estimated 25 million people playing golf in the United States in 2020. As this market recovers, consumer expectations from golf clubs have evolved. Real-time offers and benefits are now non-negotiable, necessitating integrated mobile solutions. These solutions extend beyond mobile applications, serving as valuable upselling and cross-selling tools for golf clubs. By providing members with access to these features before they even arrive at the club, integrated mobile solutions enhance the overall golfing experience.
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Technavio analysts predict that the Men subsegment will lead the End-user segment during 2024 and 2028 The Golf Apparel Market represents a significant business opportunity, with growing demand for performance-enhancing clothing and increasing participation in the sport. Key trends include the integration of technology into golf apparel, such as moisture-wicking fabrics and temperature-regulating materials. Brands are also focusing on sustainability and ethical production methods to cater to eco-conscious consumers. The market is projected to expand at a steady CAGR through 2027, driven by these factors and rising disposable income levels.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish better promotional strategies and social media presence
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The golf apparel market has experienced significant growth in recent years, driven by various demographic factors and economic conditions. With an increasing number of club memberships and the expansion of golf courses, the demand for golf apparel has risen. Dress standards on golf courses have played a crucial role in this trend, as golfers seek to adhere to traditional golf attire. The middle-income bracket represents a significant portion of the golf apparel market. Disposable income levels and employment rates are key factors influencing the purchasing power of this demographic. Economic growth in many regions has led to increased spending on golf apparel, particularly in areas such as shoes, jackets, sweaters, pants, polos, golf shirts, and outerwear. Style preferences and fashion trends also impact the golf apparel market. Golfers seek functional and fashionable apparel that suits their needs on the course. Golf shoes, gloves, visors, hats, and other accessories are essential items for golfers, and revenue from these categories contributes significantly to the overall golf apparel market. Additionally, women's golf apparel, including dresses, skirts, shorts, trousers, and polo shirts, has gained popularity, further expanding the market.
The global leisure products market, a segment of the larger household durables market, encompasses categories such as sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-focused games. According to Technavio's market analysis, the household durables market size is determined by the consolidated revenue generated by manufacturers of household durables, including consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. Factors driving the expansion of the global leisure products market include the surge in health and fitness club memberships, with membership numbers experiencing consistent growth over the past decade and the industry showing promising prospects.
The Golf Apparel Market is experiencing significant growth, fueled by the better promotional strategies and social media presence. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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