Latest News- Golf Clubs Market: Leisure is expected to lead the Application segment during 2025-2029

The Golf Clubs Market is being driven by Increased disposable income

The Golf Clubs Market is expected to grow at a CAGR of 2.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 823.7 million. The global affluent population, specifically Ultra High Net Worth Individuals (UHNIs), is projected to expand by 28.1% to reach approximately 802,891 by 2028. In 2023, there were around 626,619 UHNIs, marking a 4.2% increase from the previous year. India's UHNI population experienced a growth rate of 6.1% in 2023, amounting to 13,263 individuals. UHNIs are known for their penchant for exclusive leisure activities that align with their affluent lifestyle. Golf, recognized as a luxury and prestigious sport, attracts this demographic. Many UHNIs regard golf club memberships and ownership of elite golf properties as symbols of status, thereby fueling the demand for premium golfing experiences. Given the substantial investment required for golf clubs and associated equipment, the increasing number of UHNIs allocating resources towards golf clubs will positively influence market expansion. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Leisure
  • Professional
• Product
  • Woods
  • Irons
  • Putters
  • Wedges
• Distribution Channel
  • Offline
  • Online
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increased disposable income
• Influence of social media
• Advances in golf technology

However, the market also witnesses some limitations, which are as follows:

• Seasonality of sport
• Availability of counterfeit products
• Rise of alternative sports and leisure activities

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Market Scope in Golf Clubs Market Research Report

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Research Analysis Overview

The Golf Clubs Market encompasses various aspects of the game, including clubface technology and innovation, clubhead geometry for performance enhancement, golf club regulations and USGA rules. Smart clubs with data analytics are emerging, along with golf club accessories such as bags, balls, apparel, footwear, and course design. Club maintenance, repair, re-gripping, re-shafting, warranties, pricing, reviews, comparisons, and brand distinctions are also integral components of this market.

Market Research Overview

The global leisure products market, a segment of the larger household durables industry, encompasses categories such as sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-focused games. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers in sectors like consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. The expansion of this market is influenced by several key factors, including the surge in health and fitness club memberships. With membership numbers steadily rising over the past decade, the health and fitness industry presents a promising growth opportunity. Consequently, the establishment of new health and fitness clubs is on the rise, further fueling market growth. Key leisure products within golf, such as angle-adjustable clubs with optimized swing weights, clubhead speeds, and ball flight launch angles, as well as iron sets, wedge sets, and specialized sand wedges, cater to this burgeoning demographic.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: media@technavio.com
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