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The Golf Apparel, Footwear, and Accessories Market Size in US is estimated to grow at a CAGR of 5.18% between 2022 and 2027. The size of the market is forecast to increase by USD 1,265.96 million. The growth of the market depends on several factors, including a rising number of new product launches, a rising number of golf tournaments, and an increasing number of women participants.
This report extensively covers market segmentation by distribution channel (offline and online), end-user (men, women, and children), and product (apparel, footwear, and accessories). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing number of women participants in sports activities is notably driving the market growth, although factors such as the threat of counterfeit golf products may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing number of women participants in sports activities is notably driving the market growth. Women are taking active participation in various sports around the world. The decreasing gender disparity in the number of male and female athletes competing in the Olympic Games is one of the biggest accomplishments on this front. A significant number of women are currently engaged in sports both professionally and recreationally.
Various organizations are running a number of promotional campaigns to promote the involvement of more women in sports. The Girl Golfs initiative, which aims to increase the number of female players in the sport, has the active backing of the PGA. Future female golfers also have a lot of chances to make a name for themselves. Over the past few years, more women have started playing golf and other outdoor activities. Such initiatives are expected to increase the number of women participants in golf, which, in turn, will drive the growth of the market during the forecast period.
Technological advances in golf sports and products are the key trend in the United States Golf Apparel, Footwear, and Accessories Market. The sport of Golf is transforming because of technology, which is also giving players a new opportunity to get better. The redesign of golf clubs, the use of positioning system devices to measure the distance to the hole, and the adoption of swing analysis, which can fix swing flaws, are examples of how technology has impacted golf. Due to the importance of stance and alignment in golf, new styles of clothes are also being created that are specifically designed to help golfers better align their spine and neck.
Golf clothing is being produced by vendors employing cutting-edge technologies and materials that are ideal for all weather conditions. Such technological innovations in golf apparel help golfers to play golf in any weather condition, and thus the demand for such golf apparel is expected to increase during the forecast period.
The threat of counterfeit golf products is the major challenge impeding the growth of United States Golf Apparel, Footwear, and Accessories Market. Counterfeit golf bags are made using inexpensive, non-standard materials. Both consumers and legitimate golf accessories, apparel, and footwear businesses are impacted by counterfeit golf products. Customers that purchase counterfeit items, whether intentionally or unintentionally, frequently receive inferior goods. Because they are so inexpensive and indistinguishable, most people cannot tell the difference between authentic and counterfeit goods and purchase the latter, which hurts the reputation and profits of legitimate businesses. Therefore, retailers are taking proactive steps to stop counterfeiting.
Furthermore, many of these counterfeit golf products are sold on online retail platforms and auction websites. With increasing digitization and the growth in e-commerce platforms, the penetration of counterfeit products is likely to increase, which will hamper the growth of the golf apparel, footwear, and accessories market in US during the forecast period.
US Golf Apparel, Footwear, and Accessories Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
adidas AG -The company offers golf apparel, footwear, and accessories, such as abstract print shorts, which are designed for men to wear for various sport activities.
The market report also includes detailed analyses of the competitive landscape of the market and information about 20 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth of the offline segment will be significant during the forecast period. The offline distribution channel includes different retail formats such as specialty and sports stores, hypermarkets, supermarkets, departmental stores, outlets, and warehouse clubs. Large specialty and sports shops offer golf apparel, footwear, and accessories of popular brands. The offline distribution channel is expected to grow during the forecast period, owing to the expansion of their sports stores by key vendors.
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The offline segment was valued at USD 3,378.70 million in 2017 and continued to grow until 2021. Vendors in the market are focusing on increasing their geographic presence. They are collaborating with large retail outlets such as Walmart Inc. (Walmart) and Target Corp. The wide presence and popularity of these stores are expected to aid in driving the sales of golf apparel, footwear, and accessories in the US during the forecast period. Moreover, offline retailers are focusing on expanding the number of stores. For instance, in July 2020, Target Corp. signed a lease agreement to open a new store at the Gateway Port Chester outdoor shopping complex in the US. Such expansions of offline retail stores will enhance the accessibility of customers and increase the sales of golf products, including golf apparel, footwear, and accessories, which will drive the growth of the market during the forecast period.
The US golf apparel, footwear, and accessories market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The report categorizes the US Golf Apparel, Footwear, and Accessories Market as a part of the global apparel, accessories, and luxury goods market within the textiles, apparel, and luxury goods market. The parent market, the global apparel, accessories, and luxury goods market, covers products and companies engaged in the manufacturing/marketing of apparel, accessories, and luxury goods. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
US Golf Apparel, Footwear, and Accessories Market Scope |
|
Report Coverage |
Details |
Page number |
152 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.18% |
Market growth 2023-2027 |
USD 1,265.96 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.62 |
Competitive landscape |
Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
Key companies profiled |
adidas AG, Asher Golf, ASICS Corp., Bridgestone Corp., Callaway Golf Co., Dixon Golf, Duca Del Cosma B.V, FILA Holdings Corp., FORAY GOLF LLC, Jones Sports Co., Mizuno Corp, Nike Inc., Perry Ellis International Inc., PING Inc., PUMA SE, Ralph Lauren Corp., Sumitomo Rubber Industries Ltd., Taylor Made Golf Co. Inc., Tour Edge Golf Manufacturing Inc., and Under Armour Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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