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Golf Gloves Market Size is projected to reach USD 392 million by 2030, growing at a CAGR of 3.45%: Straits Research

·11-min read
Straits Research - Market Research Strategy | Strategy Consulting | Business Research | Business Consulting | Market Research
Straits Research - Market Research Strategy | Strategy Consulting | Business Research | Business Consulting | Market Research

The global golf gloves market size had a revenue share of USD 299 million in 2021, presumed to reach USD 392 million, expanding at a CAGR of 3.45% during the forecast period. North America will command the market with the largest share while expanding at a CAGR of 3.6%.

New York, United States, Aug. 16, 2022 (GLOBE NEWSWIRE) -- Golf is a solo sport where the player uses a club to hit the ball from a tee into a pit. The goal is to use the fewest possible swings or club strokes to get the ball into the hole. Golf can be played for leisure and as a way to enjoy the outdoors, although it is typically played in a competitive environment. When playing the game of golf, gloves are worn. Golfers frequently use gloves to improve comfort. The most significant benefit of wearing a golf glove is improved grip, especially for drives and long iron shots. They help to control moisture when they play outside in hot weather. A top-notch glove will also help you keep your hold on the club and prevent slippage. Gloves are recommended for golfers of all skill levels but are not necessarily required. The glove is often worn on the "lead" hand, which is the hand at the top of the grip. Right-handed athletes often wear gloves on their left hand, while left-handed players frequently wear them on their right hand. Since a golf glove is thicker than the skin, it will help prevent the club from slipping into a player's hand, especially in hot weather.

The adoption of GPS and Bluetooth-enabled gloves, among other recent sports changes, has elevated its visibility and boosted participation. Additionally, there are more golfers, roughly 35.0 % being women and 26.0 % being non-Caucasian. Due to this circumstance, the market for golf gloves has recently been growing. In recent years, golf has transformed from a sport into a pastime. Due to the growth and development of new courses and increased government initiatives to promote golf tourism, golf has become increasingly popular. The demand for accessories like golf gloves has surged as a result. Golf and other recreational activities are now offered at an increasing number of upmarket resorts and hotels. Golf gloves are in higher demand due to the growth of miniature golf courses designed to attract more players and promote them as a healthy form of relaxation.


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The Growing Number of Golfers and the Trend of Building Golf Courses by Hotels to Drive the Global Golf Gloves Market

Golf participation has recently increased as more people play, watch, and become involved in various innovative ways. According to statistics by the National Golf Foundation, there were approximately 2.5 million new golfers in 2015, representing an increase of almost 14.0%. A total of 20.1 million people identified themselves as golf enthusiasts, either as their preferred pastime or one of many recreational pursuits. Golf gloves, which generate friction between the grip and the gloved hand to produce a balanced short, are thought to have been spurred by rising participation in the sport.

According to recent statistics, 34.2 million Americans aged six and overplayed golf on a course in 2019 in the United States. The number of golfers is expected to rise, raising the demand for golf gloves. Additionally, there is a greater demand for modern golf accessories like gloves due to the sport's growing popularity in Europe and Asia. After noticing an increase in the product's demand, top market competitors have focused on creating gloves with a breathable design and a better grip.

The hospitality sector continually enhances and expands its facilities to attract more clients. Hotels in western countries are emphasizing the marketing of several sports, including golf. For instance, in addition to various hotel alternatives, the Prukljan project in Europe includes a tourism zone for hospitality, a recreation area, and a golf course. Mexico has always been a popular travel destination in North America, resulting in many hotel constructions projects in 2019. The upcoming hotel construction plans will likely include golf facilities for its guests, given the growing popularity of golf as a leisure sport. For instance, Atelier & Estudio Playa Mujeres intended to develop several hotel choices in addition to an 18-hole golf course on its property. Such developments are predicted to increase demand for golf gloves over the anticipated period.

Growing Number of Female Golfers and Changing Consumer Preferences to Create Global Golf Gloves Market Opportunities

The popularity of golf is growing globally, and a variety of young people—particularly women—are contributing to this growth. Consumer preferences for golf-related products are influenced by firms' use of sophisticated marketing strategies and various endorsement opportunities and campaigns. Additionally, these events aid in increasing consumer awareness of the different brand choices offered in the golf glove market. A mix of golf associations and publicly backed sports marketing is also projected to provide opportunities for industry expansion in the golf glove sector. Additional variables projected to impact golf equipment sales include the popularity of golf tournaments and events, as well as the growing participation in the sport. The expansion of the American economy and the entry of new players through unconventional avenues is expected to lead the way for the golf glove market in the future.


Report Scope

Report Metric

Details

Market Size

USD 392 million by 2030

CAGR

3.45% (2020-2030)

Historical Data

2019-2020

Base Year

2021

Forecast Period

2022-2030

Forecast Units

Value (USD Million)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Type, Distribution Channel, Region

Geographies Covered

North America, Europe, Asia-Pacific, LAME and Rest of the World

Key Companies Profiled/Vendors

Callaway Golf Company, SRIXON, Acushnet Holdings Corp., Under Armour Inc., Zero Friction, TAYLORMADE, GOLF COMPANY, INC, MIZUNO Corporation, Nike, Adidas, 3M, PING, Amer Sports

Key Market Opportunities

Growing Number of Female Golfers and Changing Consumer Preferences

Key Market Drivers

The Growing Number of Golfers
The Increasing Trend of Building Golf Courses by Hotels

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Regional Insights
North America will command the market with the largest share while expanding at a CAGR of 3.6%. The consumer interest in golf as a sport is rising, plus the availability of developed infrastructure in industrialized countries, particularly the US, is one of the critical factors affecting the market expansion. In North America, 99 golf courses were slated for construction in 2017, and 57 were already completed, according to Golf around the World data. The region has seen a tremendous sport spread because of strong economic growth and increased consumer spending power. Product advancements that meet customer desire for personalized goods due to the development of many technologies are driving the market for golf gloves in the region.

Golf is becoming a more popular leisure activity among younger generations, which presents opportunities for manufacturers and raises the region's growth potential. An increasing number of athletes have also made golf their sport from a young age, partly because of organizations like Professional Golfers Career College and Next College Student Athlete that are encouraging. Due to the surge in arrivals, the region's demand for gloves and golf equipment has grown faster than typical.

Europe will expand at a CAGR of 2.8% and hold USD 67 million. In the previous three decades, golf's popularity has increased in Europe. According to some sources, the number of official golf courses climbed from 3,000 to 6,800 between 1985 and 2018. The expansion of golf courses over time reflects how popular golf has become in Europe. This component also reflects the ongoing popularity of golf accessories, such as gloves, across many European markets simultaneously. The market for golf gloves is expanding, thanks partly to the rising number of female golfers in the UK. The product demand is anticipated to be higher in Ireland and Portugal, two of Europe's most popular overseas golfing locations.


Key Highlights

  • The global golf gloves market had a revenue share of USD 299 million in 2021, presumed to reach USD 392 million, expanding at a CAGR of 3.45% during the forecast period.

  • Based on type, the promotional golf gloves section is projected to advance at a CAGR of 13.2% and hold the largest market share.

  • Based on the distribution channel, the offline section is projected to advance at a CAGR of 3.2% and hold the largest market share.

  • Based on regional analysis, North America will command the market with the largest share while expanding at a CAGR of 3.6%.


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Competitive Players in the Market

  • Callaway Golf Company

  • SRIXON

  • Acushnet Holdings Corp.

  • Under Armour Inc.

  • Zero Friction

  • TAYLORMADE GOLF COMPANY, INC

  • MIZUNO Corporation

  • Nike

  • Adidas

  • 3M

  • PING

  • Amer Sports


Global Golf Gloves Market: Segmentation

By type

  • Individual Golf Gloves

  • Institutional Golf Gloves

  • Promotional Golf Gloves

By distribution channel

  • Offline

  • Online

By region

  • North America

  • Europe

  • Asia Pacific

  • Central & South America

  • The Middle East & Africa


TABLE OF CONTENT

  1. Introduction

    1. Market Definition

    2. Market Scope

  2. Research Methodology

    1. Primary Research

    2. Research Methodology

    3. Assumptions & Exclusions

    4. Secondary Data Sources

  3. Market Overview

    1. Report Segmentation & Scope

    2. Value Chain Analysis: Golf Gloves Market

    3. Key Market Trends

      1. Drivers

      2. Restraints

      3. Opportunities

    4. Porter’s Five Forces Analysis

      1. Bargaining Power of Suppliers

      2. Bargaining Power of Buyers

      3. Threat of Substitution

      4. Threat of New Entrants

      5. Competitive Rivalry

    5. Market Share Analysis

  4. Type Overview

    1. Introduction

      1. Market Size & Forecast

    2. Individual Golf Gloves

      1. Market Size & Forecast

    3. Institutional Golf Gloves

      1. Market Size & Forecast

  5. Distribution Channel Overview

    1. Introduction

      1. Market Size & Forecast

    2. Offline

      1. Market Size & Forecast

    3. Online

      1. Market Size & Forecast

  6. Regional Overview

    1. Introduction

      1. Market Size & Forecast

    2. America

      1. North America

      2. U.S.

        1. By Type

        2. By Distribution Channel

      3. Canada

        1. By Type

        2. By Distribution Channel

      4. Mexico

        1. By Type

        2. By Distribution Channel

      5. Latin America

        1. By Type

        2. By Distribution Channel

    3. Europe

      1. Market Size & Forecast

      2. Germany

        1. By Type

        2. By Distribution Channel

      3. France

        1. By Type

        2. By Distribution Channel

      4. U.K.

        1. By Type

        2. By Distribution Channel

      5. Italy

        1. By Type

        2. By Distribution Channel

      6. Spain

        1. By Type

        2. By Distribution Channel

      7. Rest of Europe

        1. By Type

        2. By Distribution Channel

    4. Asia Pacific

      1. Market Size & Forecast

      2. Japan

        1. By Type

        2. By Distribution Channel

      3. China

        1. By Type

        2. By Distribution Channel

      4. Australia

        1. By Type

        2. By Distribution Channel

      5. India

        1. By Type

        2. By Distribution Channel

      6. South Korea

        1. By Type

        2. By Distribution Channel

      7. Rest of Asia-Pacific

        1. By Type

        2. By Distribution Channel

    5. Middle East & Africa

      1. Market Size & Forecast

      2. Saudi Arabia

        1. By Type

        2. By Distribution Channel

      3. South Africa

        1. By Type

        2. By Distribution Channel

      4. Kuwait

        1. By Type

        2. By Distribution Channel

      5. Rest of Middle East & Africa

        1. By Type

        2. By Distribution Channel

  7. Company Profile

    1. Callaway Golf Company

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

    2. SRIXON

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

    3. Acushnet Holdings Corp

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

  8. Conclusion & Recommendation

  9. Acronyms & Abbreviations


Table of Content and Figure https://straitsresearch.com/report/golf-gloves-market/toc


Market News

  • In 2022, Callaway Golf Company’s subsidiary Odyssey launched new putters in the market; Tri-Hot 5K, Eleven, and Toulon Putters.

  • In 2022, Callaway Golf Company released new golf balls; Chrome Soft, Chrome Soft X, and Chrome Soft X LS.


News Media

North America Dominates the Golf Simulator Market

Motorcycle Riding Helmets and Jackets to Revolutionize the Motorcycle Gear Market During the Forecast Period 2019-2026


Have a Look at the Related Research Report

Golf Clubs Market: Information by Application (Leisure, Professional), Distribution Channel (Sporting Goods Retailers, Online, Department & Discount Stores), and Region — Forecast till 2030

Golf Simulators Market: Information by Offering (System, Software), Installation Type (Indoor), Product Type, (Portable), End-Use/Application, and Region — Forecast till 2029

Sports Equipment Market: Information by Sports Type (Ball Sports, Adventure Sports, Fitness/Strength, Athletic Training), Distribution Channel, and Region — Forecast till 2029

Golf Cart Market: Information by Product Type (Electric Golf Cart, Solar Golf Cart), Application (Golf Course, Personal Services, Commercial Services), and Region — Forecast till 2030

Medical Gloves Market: Information by Material (Latex), Application (Examination), Usage (Disposable), Distribution (E-commerce), End-use (Clinics), and Regions—Forecast till 2029


About Straits Research Pvt. Ltd.
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