Canada Golf Market Overview:
The Canada Golf Market is projected to be USD 156.4 million in 2021 to reach USD 188.2 million by 2032 at a CAGR of 1.7%.
Golf is a sport played on a standard golf course with clubs and balls. A standard game of golf is generally comprised of 9 or 18 holes on a course. Golfers usually play by having the lowest number of strokes needed per game, which is known as stroke play. The main aim is to strike the ball into a hole. Golf requires specialized equipment in order to play the sport effectively. This equipment includes golf clubs, golf balls, tees, golf shoes, and golf bags.
Golf courses are operated privately as country clubs or are open to the public for a daily fee. An increasing participation rate, especially among the youth segment of the population is a major factor expected to drive the growth of the Canada Golf Market over the forecast years. In addition, media exposure to international golf events in Canada is a factor expected to increase the popularity of golf among individuals. This is expected to drive growth for the target market. Technological advancements in various equipment and golf products are expected to positively impact the growth of the Canada Golf Market.
However, training costs associated with golf sports are high which may hamper the growth of the market in the coming years. Owing to an increasing number of hotels and resorts in Canada comprising more than 18-hole golf courses potential opportunities for increased participation in golf sports are expected to create a lucrative opportunity for players operating in the target market. A key trend observed in the golf market is that golf associations are collaborating with other organizations with the objective of promoting the sport among the youth population as well as donating a high amount for the Health and Well-being of Children and Youth in Canada.
Canada Golf Market Revenue (US$ Mn), 2019–2029
The Canada golf market is segmented on the basis of product type, end-user, and region. On the basis of product type, the market is segmented into apparel and footwear. The golf apparel segment accounts for the majority share whereas the footwear segment is expected to register the highest growth over the forecast period. On the basis of end users, the market is segmented into professional and amateur. The amateur segment accounts for a majority share of the Canadian golf market, followed by the professional segment.
The research report on the Canada golf market includes profiles of some of the major companies such as Lululemon Athletica, Inc., Levelwear Inc., Callaway Golf Co., NIKE, Inc., Acushnet Holdings Corp., Amer Sports Oyj, Adidas AG, Under Armour, Inc., PUMA SE, ECCO Sko A/S, and Skechers USA, Inc.
Canada Golf Market Attractiveness Analysis by Product Type, 2013–2019
Canada Golf Market Drivers:
The market for Canada Golf is driven by several factors, including the increasing popularity of the sport, favorable government initiatives, and a growing middle class. The country’s strong tourism industry also supports the growth of the golf market, as many tourists visit Canada specifically to play golf.
The rise of technology and advancements in equipment design have made the sport more accessible and enjoyable for a wider range of individuals, further driving growth in the market.
Additionally, the expanding health and wellness trend has boosted the popularity of golf, as it is perceived as a healthy outdoor activity. The growth of residential communities and resorts that offer golf courses and facilities is another key driver of the Canada golf market.
The global golf ball market was valued at USD 1,046.2 Million in 2022 and is expected to reach USD 1356.6 Million by 2032. Between 2023 and 2032, this market is estimated to register the highest CAGR of 2.7%. The advancement of golf tourism, the construction of new golf courses, and increasing consumer spendable income are some of the major market drivers of the golf ball market.
Factors affecting the growth of the golf ball market
There are several factors that can affect the growth of the golf ball market. Some of these factors include:
Rising Income: Due to rapid urbanization and high capital income individuals are more inclined towards on-course golf. 41% of Americans play golf ball sport and spend more on golf games propelling the growth of the market.
Increasing golf tourism: Golf tourism is an important tourism industry in terms of average daily expenditure per visitor. Golf tourism generates social and political controversies due to this it is more popular among individuals which surged demand for golf balls in tourism.
Technological advancements: With advancements in golf ball production like distance measuring lasers, golfers can easily access the number of yards required for any shot. It also includes swing sensors, tempo, and angle to guide. This advancement makes golf sport more popular
COVID-19: COVID-19 crisis has led to lockdown, closure of golf courses, and curfews also indoor and outdoor sports facilities which have a negative impact on market growth.
Top Trends in Global Golf Ball Market
The rising trend of golf tourism is driving the growth of the golf ball market around the world. Due to hectic and busy lifestyles, people are preferring golf courses that contain beautiful scenery, fresh air, sunshine, and stunning views.
Health awareness and benefits of sports among individuals are worldwide increasing so individuals are more inclined towards indoor and outdoor sports such as golf. Innovation and technological advances in the golf industry are the main factors that enable manufacturers to offer golf simulators, due to this, individuals are continuously shifting towards golf sport.
Market Growth
Rapid growth is being experienced by popularity and high hopes of golfers for the game as a future opportunity. The number of rounds played by a golfer has risen and more people are visiting the golf course. Golf is more popular among individuals worldwide due to low-risk injuries and less physical activity. Studies found that constant exposure to green areas reduces stress, relax the body, and reduces anxiety due to these people inclined towards golf which is an important growth factor of the golf ball market.
Regional Analysis
The golf ball market was dominated by North America, which acquired the most significant revenue share of 35% in 2022. Over 17,000 golf courses, of which approximately 13,000 are public clubs and 4,000 are private clubs are in the North American region. Additionally, the region contains several major players such as Nike, Inc., and Callaway Golf Company. Dixon Golf Co.
Asia Pacific is expected to grow at the fastest CAGR during the forecast period owing to the development of 180 new projects. China and India rank among the top 20 Golf countries in the world and holds significant contributions to regional growth.
Europe is poised for steady growth due to its real estate presence and a growing golf tourism industry.
Report Segmentation of the Golf Ball Market
Type Insight
Based on type, the 4-Piece segment is dominant in the market with the largest market share and is expected to continue its dominance during the forecast period. Professional golfers’ preference for high stability and low spin is expected to drive the growth of the segment. Also, 4-piece golf balls provide better air stability and ball control.
Application insight
Based on application professional golf segment was dominant in the market with the largest market revenue share in 2022. Several golf associations work together to promote the sport among young people which is the main factor for the growth of the professional golf segment. In recent years, many programs have been launched around the world to promote the acceptance of golf as a professional sport among young people
