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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).

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 market are adopting various business strategies including development, acquisition, mergers, collaboration, and partnerships for the expansion of their geographical presence and strengthen market position. 'Titleist', 'Callaway', 'TaylorMade', 'Bridgestone', 'Srixon', 'Wilson', 'Mizuno', 'Volvik', 'Vice', 'Nike', 'Pinnacle', 'Top Flite', 'OnCore', 'Maxfli', 'Kirkland', 'Dunlop', 'Inesis', 'Decathlon', 'Slazenger', 'Precept', '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.'

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 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 market.

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.

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.

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Global Golf Ball Market

Product ID: SQSG25J2013