Golf Balls Market Analysis with Size, Revenue, Growth Drivers and Forecast to 2030

The latest market report published by Credence Research, Inc., “Global Golf Balls Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Golf Balls Market generated revenue of around USD 1359.5 million in 2021 and is anticipated to grow a CAGR of over 2.5% during the forecast period from 2022 to 2028 to reach around USD 1576.6 million in 2028.

The golf ball is a sphere with a dimpled pattern used to play golf. It has a dimpled pattern on its surface, allowing it to fly almost twice as far as a product with a smooth surface. A variety of balls are produced using various development techniques and materials to improve user experience. Golf balls are frequently used in various sports, including golf and soccer. Golf balls are available in a variety of sizes and shapes to suit a variety of applications. They come in round, elliptical, and ovular shapes. The development of new golf courses, the promotion of golf tourism, and rising consumer disposable income are some of the major global market drivers. Government agencies worldwide are setting up workshops, golf courses, and competitions to promote tourism, which is expected to spur market expansion. Product and equipment technological advancements are further expected to impact market growth positively. However, the market has seen a decline in the number of rounds played and the sport’s adoption in developed countries such as Canada, the United States, and parts of Europe. The youth’s declining interest in the golf sport due to the prolonged time required to finish a single game is the cause of this decline. In addition, it is anticipated that the golf balls market growth will be negatively impacted by higher initial capital investment.

The global golf balls market is bifurcated into Product, Application, and Geography. Based on product, the market is categorized into 2-piece, 3-piece, and 4-piece. Based on the application, the global market is segmented into leisure and professional. The market is segmented based on geography: North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

North America led the global golf balls market in 2021, accounting for a significant global market revenue share value due to increasing consumer preference for a luxurious lifestyle. Moreover, high disposable income and a willingness to pay more for luxury items are two key likely to propel the regional target market’s growth. Several major golf ball manufacturing companies, including Dixon Golf Inc, Bridgestone Golf Inc, Nike Inc, and Callaway Golf Company, are also overrepresented in the region.

Golf Balls Market Drivers refer to the various factors that propel the demand and supply of these small, dimpled spheres. The market drivers for golf balls can be attributed to several reasons such as increasing participation in golf sports, technological advancements in ball design and manufacturing, growing interest among women and millennials, rising disposable income of consumers worldwide, expansion of e-commerce platforms for online sales of golf equipment, and sponsorship deals with professional players. With more people engaging in this sport globally, it has led to a surge in demand for high-quality golf balls that provide better performance on the course. Furthermore, advancements in materials science have enabled manufacturers to create innovative designs that enhance aerodynamics and distance while reducing spin rate.

The regional analysis of the golf balls market reveals the following trends:

  • North America: North America is expected to dominate the golf balls market due to a large number of golfers, established golfing culture, and a strong presence of major golf ball manufacturers. The region’s significant golf tourism industry, professional tournaments, and a high disposable income contribute to the demand for golf balls.
  • Europe: Europe is likely to be a significant market for golf balls, driven by a strong golfing tradition, the presence of renowned golf courses, and a growing interest in the sport. Countries like the United Kingdom, Germany, and Sweden have a substantial golfing community and host various international golf tournaments, creating a demand for high-quality golf balls.
  • Asia Pacific: The Asia Pacific region is anticipated to experience rapid growth in the golf balls market. Rising disposable incomes, increasing popularity of golf as a recreational sport, and the growth of golf tourism in countries like China, Japan, South Korea, and Australia contribute to market growth. The region also benefits from the growing number of golf courses and the development of golf-related infrastructure.
  • Latin America: Latin America is expected to show moderate growth in the golf balls market. The region’s improving economic conditions, the rising popularity of golf among the middle class, and the hosting of professional golf events contribute to the demand for golf balls. Countries like Mexico, Argentina, and Brazil have a growing golfing community and offer market opportunities.
  • Middle East and Africa: The Middle East and Africa region is likely to exhibit gradual growth in the golf balls market. The region’s efforts to develop golf tourism, the establishment of world-class golf courses, and the hosting of international tournaments create demand for golf balls. Countries like the United Arab Emirates, South Africa, and Morocco are key players in the region’s golfing industry.

Why to Buy This Report-

  • The report examines the global golf balls market by segment, drivers, restraints, opportunities, latest developments, insights, challenges, and market dynamics from 2016 to 2020, with 2021 serving as the base year and 2022-2028 as the forecast period.
  • The report outlines the market’s competitive landscape and the strategies employed by the market’s major players on a local, regional, and global scale.
  • In-depth global golf balls market segmentation analysis by product and application.
  • The report provides comprehensive and reliable information on all aspects, such as CAGR, consumer spending patterns, supply and demand, and import/export statistics for the major regional nations.
  • The market report for golf balls includes industry analysis at the global, regional, and national levels and information on important market trends, competitive landscapes, and expansion plans.

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