USD 10.65 billion
Global Golf Ball Market Size, Share, Growth Analysis, By Product(2-Piece, 3-Piece), By Application(Leisure, Professional) - Industry Forecast 2024-2031
Report ID:
SQSG25J2013 |
Region:
Global |
Published Date: February, 2024
Pages:
260
|
Tables:
62 |
Figures:
77
Global Golf Ball Market Insights
Golf Ball Market size was valued at USD 10.65 billion in 2019 and is poised to grow from USD 12.45 billion in 2023 to USD 16.21 billion by 2031, growing at a CAGR of 4.21% in the forecast period (2024-2031).
The growth in the promotion of golf tourism, increased in consumer disposable income and highly rising construction of new golf courses all over the world are the major factors projected to drive the growth of the global golf ball market during the forecast period. Furthermore, continuously growing popularity of golf among professional people have increased the number of golfers playing golf across the globe, and it has led to the rise in the demand for golf balls globally.
For instance, according to the National Golf Foundation, around 25 million people played golf in golf courses in 2019, in the United States. Which is around 8% of United States total population, with a significant increase from 2019. In which, nearly 77% are male, and nearly a bit more than 22% are female golfers. In addition, around 3 million of these are new golfers and playing a golf game for the first time, with a record number of new golfers.
Moreover, technological advancements and continuously rising development coupled with the several new innovations in products are further expected to drive the growth of the global golf ball market over the forecast period. For instance, the innovation of Seamless Cover Technology allows for the creation of non-uniform joint around the ball.
US Golf Ball Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Professional
Fastest Growth
Professional
Growth Rate
4.21% CAGR
Global Golf Ball Market ($ Bn)
Country Share for North America Region (%)
Country Share for Asia Pacific Region (%)
Global Golf Ball Market By Application ($ Bn)
Global Golf Ball Market By Application (%)
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Global Golf Ball Market Segmental Analysis
Global Golf Ball Market is segmented on the basis of product, application, and region. By product, the Golf Ball Market is segmented into 2-piece, 3-piece, and 4-piece. By application, the Golf Ball Market is bifurcated into leisure and professional. By region, the Golf Ball Market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Golf Ball Market Analysis by Product
By product, the 4-piece segment dominated the market and accounted a significant market share in 2021. Increasing preferences by professional golfers for 4-piece golf balls due to its long durability and lower spin is projected to drive the growth of the segment over the forecast period. 4-piece balls have much higher durability as compared to others available in the market and have better control over the ball. Moreover, increasing disposable income of people across the world is encouraging them to increase their spending on sports segment, which is likely to have a positive impact on the global golf ball market in the coming years.
Golf Ball Market Analysis by Application
By application, the leisure segment held the largest market share in 2021 with a significant CAGR over the forecast period. Increasing popularity of golf in developing nations such as India and China, growing construction of new and advanced golf courses, and increasing government initiatives to promote tourism and sports are the major factors expected to drive the segment growth throughout the forecast period. In addition, several hotels and resorts are creating mini golf course for attracting most of the people and are also organizing numerous trips featuring this sport as main function, is also likely to propel the growth in the coming years.
Global Golf Ball Market By Application, 2023 (%)
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Global Golf Ball Market Regional Insights
Globally, North America dominated the golf ball market and accounted for a healthy market share in 2021 owing to the increase awareness of sports among business professionals, high income of people, and large availability of golf courses facility in the region. Furthermore, presence of large market players such as Callaway Golf Company, Dixon Golf Inc., and Bridgestone Golf Inc. and their increasing investment in research & development sector to introduce latest products and expand their product portfolio is also anticipated to fuel the growth of the market in the region during the forecast period.
Furthermore, Asia Pacific is witnessing fastest CAGR during the forecast period. An extensive rise in the population, growing adoption of outdoor sports, tremendous growth in urbanization, and increasing income of people are the major factors projected to be the driving factors of the market during the forecast period. According to our findings, there are over 6,700 golf facilities available in the Asia Pacific region and around 200 new projects are currently in progress, and it is estimated to have a positive impact on the demand of golf balls in the coming years.
Global Golf Ball Market By Region, 2024-2031
- Largest
- Fastest
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Global Golf Ball Market Dynamics
Golf Ball Market Drivers
- The rapid growth in urbanization especially in the developing nations such as India and China and increased consumer disposable income are major factors projected to drive the global golf ball market during the forecast period. In the last few years, popularity of golf has increased significantly in developing countries and also among wealthy and professional people, which has resulted in high growth in the demand for golf balls. In addition, increasing importance of quality time spending coupled with the easy availability of golf equipment is also likely to have a boom in the global market.
Golf Ball Market Restraint
- Significant growth in the adoption of online and indoor games, because of the busy lifestyle of the population globally, is expected to be the major restraining factors for the global golf ball market over the forecast period. Additionally, increasing charges of golf courses across the world and rising equipment prices is also hampering the market growth in the coming years.
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Global Golf Ball Market Competitive Landscape
Global golf ball market is highly competitive with the presence of many well-established international players around the globe operating local and globally as well. The several key players of global market are adopting various business strategies including development, acquisition, mergers, collaboration, and partnerships for the expansion of their geographical presence and strengthen market position.
Golf Ball Market Top Player’s Company Profiles
- Titleist
- Callaway
- TaylorMade
- Bridgestone
- Srixon
- Wilson
- Mizuno
- Volvik
- Vice
- Nike
- Pinnacle
- Top Flite
- OnCore
- Maxfli
- Kirkland
- Dunlop
- Inesis
- Decathlon
- Slazenger
- Precept
Golf Ball Market Recent Developments
- In April 2022, OnCore Golf launched New ELIXR. The 2022 ELIXR provides golfers with perimeter weighting for greater accuracy and reduced side spin off the driver. A unique polybutadiene core delivers outstanding coefficient of restitution (CoR) for higher ball speed, resulting in more carry and roll.
- In July 2021, Wilson Sporting Goods announced its first ever opening of retail location in Chicago. It will offer a wide range of sporting goods, including Wilson’s high-performance sports equipment, in various sports categories including golf and tennis.
Global Golf Ball Key Market Trends
- In the recent years, there has been an extensive increase in the number of golf courses, mainly in highly developed countries including Japan, United States, and Germany. Most of these courses generally belongs to private clubs, golf-centric real estate places, and golf resorts also. Nearly 30,000 golf course facilities are available globally, and more than 70% are completely open to general public. In addition, more than 200 golf courses are currently under construction, and about 350 new projects are in the planning stage worldwide.
Global Golf Ball Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global golf ball market is witnessing a decent growth during the forecast period owing to increasing population, advancement in technology and easy availability of golf equipment across the globe. In addition, several government favourable initiatives to promote the sports activities and tourism are also anticipated to boost the demand for golf balls in the near future. However, continuously increasing prevalence of online games coupled with the growing internet availability worldwide, are the major challenges projected to hamper the growth of the global market over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 10.65 billion |
| Market size value in 2031 | USD 16.21 billion |
| Growth Rate | 4.21% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Golf Ball Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Golf Ball Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Golf Ball Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Golf Ball Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Golf Ball Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Golf Ball Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Golf Ball Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Golf Ball Market Report Snapshots
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