The market for golf apparel is projected to grow from US$ 983.4 billion in 2023 to US$ 2,036.70 billion in 2033. The predicted compound annual growth rate (CAGR) for the global market is 7.6% for the projection period. The COVID-19 pandemic’s quick spread has slowed the market’s expansion for golf apparel. Due to the adoption of lockdown and other types of limitations, some tournaments were postponed or cancelled, which caused the market for golf attire to decline.
There has been a decline in participation as a result of the tournament cancellations, which has resulted in a drop in?golf outfit sales. The?global golf outfit market share?is being impacted by falling overall revenue.
Demand for golf?increases as more people deal with obesity and strive to counteract its effects. People’s desire to be active and healthy as they age pushes them to participate in various activities, including golf, to maintain their physical and mental health and fitness. It improves the?golf outfit market statistics.
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To increase their product line and provide a greater range of possibilities, the leading golf outfit manufacturers always produce new and?unique golf outfits?with fresh designs, vibrant colors, and styles. Customers have been urged to spend money on these things, resulting in the high?adoption of golf outfits.
Manufacturers are developing shoe styles that incorporate materials that improve ventilation. These factors contribute to higher?golf outfit market revenue, ?improving the overall?golf outfit market statistics.
Various industries experienced supply chain delays around the world during the COVID-19 pandemic. Several sectors saw their expansion halted due to the pandemic since the demand for their products fell dramatically. The government implemented stringent travel restrictions, which disrupted the supply chain and impeded?golf outfit market expansion.
Key Takeaways:
- The golf outfit market is predicted to develop at a CAGR of 7.2% through 2032 due to the adoption of healthy lifestyle choices.
- The CAGR for the top wear segment of the product type category in the golf outfit market is anticipated to be 5.2% through 2032.
- In the golf outfit market, the United States is estimated to outpace the other regions through 2032, by rising at a higher CAGR throughout the forecast period.
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Competitive Landscape:
Major companies profiled in the golf outfit industry are Adidas AG, Callaway Golf Company, Under Armour, Inc., Amer Sports Corporation, ASICS Corporation, Kering S.A, Ralph and others
The research offers a detailed competition analysis of these top golf outfit market competitors, including company biographies, recent developments, and important golf outfit market strategies.
Recent Development:
Partnerships, Collaborations, and Agreements:
ADIDAS partnered with MANORS, a London-based golf label, in July 2021. This collaboration is intended to provide new, affordable, and fashionable golf apparel for the future generation of golfers.
William Murray Golf partnered with Assembled Brands, a financial services firm, in May of 2021. The Austin-based firm would be able to expand its exclusive product pipeline as a result of this partnership.
Key Segments
By Product Type:
- Top Wear
- Bottom Wear
- Hats
- Shoes
- Other Accessories
By Consumer Orientation:
- Female
- Male
- Kids
By Buyer Type:
- Individual
- Institutional
- Promotional
By Sales Channel:
- Online Sales Channel
- Offline Sales Channel)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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